Questions? 1.800.239.0356

Back to Top
fixed annuities

Multi-Year Guarantee Annuity Details

American Classic 3

Product Name

American Classic 3

Annuity Type

Multi-Year Guarantee Annuity

Issuing Insurance Company and Ratings

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

Product Information

The American Classic 3 is a deferred multi-year guarantee annuity issued by American Life & Security Corp.

The current 3 year Effective Annual Rate* is 5.81% (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 American Classic 3 has a full penalty free withdrawal window** after 3 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this annuity provides up to 10% (noncumulative) of the contract value as the penalty free withdrawal amount that may be withdrawn from the annuity each contract year.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 $1.8 billion in total assets.

Rate Details

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

3 Year Guarantee Period Annual Yield: 5.81%
Secondary Bonus End of Year 3: 0.45%
Interest rate start of year 1 through end of year 3: 5.65%

Initial Surrender Charge and MVA Periods

3 years

3 years

3 years

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

Other Guarantee Periods Available

Policy Details

Penalty Free Withdrawal Provisions


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

State Variations

Not available in:  AL, AK, AR, CA, CT, DE, ME, MD, MA, MN, MS, NH, NJ, NY, NC, PA, RI, SC, TN, VT, VA, WA, WV, WI and WY (as of 07/19/2023)


RMDs are not free of surrender charges in Year 1; take any RMDs before transferring into the American Classic.

* Effective annual rate includes the 0.45% Loyalty Bonus, which is awarded at the end of the guaranteed period assuming no withdrawals are taken other than RMDs.

** There is a 30-day window at the end of the guarantee period where the contract owner must initiate a transfer or withdrawal of the assets without incurring a penalty. The contract will automatically renew at the same term with a 5% surrender schedule for each contract year at a renewal rate to be set at that time.