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Traditional Fixed Annuity Details

American Pathway Fixed 7 (One-Year) without ROP

Product Name

American Pathway Fixed 7 (One-Year) without ROP

Annuity Type

Traditional Fixed Annuity

Issuing Insurance Company and Ratings

A
(3rd of 15 ratings)
A+
(5th of 20 ratings)
A2
(6th of 21 ratings)
A+
(5th of 21 ratings)
82
(percentile of rated companies)

Product Information

The American Pathway Fixed 7 (One-Year) without ROP is a deferred traditional fixed annuity issued by American General Life Insurance Company.

This annuity is a premium banded product. The interest rate you earn will vary depending on the amount of premium you deposit (see Rate Details below). Currently, the highest first year yield is 3.63% (including bonuses if applicable) on premium amounts of $100,000 - $1,000,000. The highest 7 year term current annual yield is 1.88% (including bonuses if applicable) on premium amounts of $100,000 - $1,000,000. This assumes that the current base interest rate remains unchanged up to the first penalty free full withdrawal window, which is not guaranteed. The American Pathway Fixed 7 (One-Year) without ROP has a full penalty free withdrawal window after 7 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. In the first contract year, this annuity provides interest only withdrawals. Beginning in the second contract year, up to 15%  of the contract value may be withdrawn from the annuity each contract year without penalty.

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 General Life Insurance Company is rated “A” by A.M. Best, was founded in 1960, and has over $142 billion in total assets.

Rate Details

Aug 9th, 2021
Not Scheduled

Premium Amount: $100,000 - $1,000,000 High-Band

Current
First Year Yield: 3.63%
7 Year Term Current Annual Yield: 1.88%
7 Year Term Guaranteed Annual Yield: 1.37%
Upfront Bonus: 2.00%
Interest rate start of year 1 through end of year 1: 1.60%
Current Base Interest Rate: 1.60%
Guaranteed Minimum Interest Rate: 1.00%

Premium Amount: $2,000 - $99,999 Low-Band

Current
First Year Yield: 2.61%
7 Year Term Current Annual Yield: 1.74%
7 Year Term Guaranteed Annual Yield: 1.22%
Upfront Bonus: 1.00%
Interest rate start of year 1 through end of year 1: 1.60%
Current Base Interest Rate: 1.60%
Guaranteed Minimum Interest Rate: 1.00%

Initial Surrender Charge and MVA Periods

7 years

N/A

7 years

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

Policy Details

$5,000
$2,000
$1,000,000
$1,000,000
90
90
60 days
No
Accumulation Value
No

Penalty Free Withdrawal Provisions

Interest Only
15%
See Notes
Yes
ADL-based, Death, Extended Care and Terminal Illness

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:  NY (as of 11/04/2019)

Notes

Cumulative Withdrawals: After 30 days from the contract date, you may take penalty-free withdrawals each year not exceeding in total the greater of (1) the accumulated interest earned or (2) up to 15% of the previous anniversary annuity value. If you do not use all of the 15% withdrawal percentage in a contract year, you may carry over the unused portion (up to 5%) to the next contract year increasing the annual withdrawal to 20% (or the accumulated interest if greater).