AnnuityAdvantage® Classic 5

AnnuityAdvantage® Classic 5

Product Name

AnnuityAdvantage® Classic 5

Annuity Type

Multi-Year Guarantee Annuity

Issuing Insurance Company and Ratings

American Life & Security Corp - View details

(5th of 15 ratings)
Not Rated
Not Rated
Not Rated
Not Ranked

Product Information

This annuity is offered exclusively through AnnuityAdvantage!

The AnnuityAdvantage® Classic 5 is a deferred multi-year guarantee annuity issued by American Life & Security Corp.

The current 5 year Effective Annual Rate* is 5.65% (see Rate Details below). This is the guaranteed annual yield, including bonuses if applicable, for the initial guarantee period term, up to the first penalty free full withdrawal window. The AnnuityAdvantage® Classic 5 has a full penalty free withdrawal window** after 5 years.

During the time in which the annuity is subject to surrender penalties, there are policy provisions that allow partial access on a penalty free basis. Beginning in the second contract year, this annuity provides up to 10% (noncumulative) of the contract value as the penalty free withdrawal amount that may be withdrawn from the annuity each contract year.

This annuity also waives withdrawal penalties upon death. Your named beneficiary(ies) will receive a death benefit equal to the full accumulation value. A beneficiary may choose to receive their death benefit in either a lump sum or select an available annuitization option.

Details on additional penalty waivers can be found in the Penalty Free Withdrawal Provisions section below.

American Life & Security Corp is rated “B++” by A.M. Best, was founded in 1960, and has over $1.1 billion in total assets.

Rate Details

Nov 21st, 2022
Not Scheduled
5 years

Premium Amount: $1,000 - $5,000,000

5 Year Guarantee Period Annual Yield: 5.65%
Secondary Bonus End of Year 5: 0.60%
Interest rate start of year 1 through end of year 5: 5.53%

Initial Surrender Charge and MVA Periods

Early Surrender Charges: 5 years
Market Value Adjustment (MVA): 5 years
Penalty Free Full Withdrawal Window Available After: 5 years

State variations may exist, refer to product disclosure for details. 

Other Guarantee Periods Available


Policy Details

Min Premium Non-Qualified: $1,000
Max Premium Non-Qualified: $5,000,000
Max Issue Age Non-Qualified: 90
Rate Lock on Transfers: 30 days
Death Benefit: Accumulation Value

Min Premium Qualified: $1,000
Max Premium Qualified: $5,000,000
Max Issue Age Qualified: 90
Subject to MVA: Yes
Income Rider Available: No

Penalty Free Withdrawal Provisions

First Year Withdrawals: None
Cumulative Withdrawals: No
Penalty Waivers: Death

Years 2+ Withdrawals: 10%
RMD Friendly: Yes

See product brochure, disclosure and riders for additional details, limitations and availability. State variations, age restrictions and holding periods may apply.

State Variations

Available only in:  AZ, CO, DC, HI, ID, IL, IN, IA, KS, LA, MI, MO, MT, NE, NV, NM, OH, OK, OR, TX and UT (as of 06/13/2022)