1. Annuities are not short-term products. During the surrender charge period, withdrawals exceeding 10% will be subject to a surrender charge that may be higher than fees associated with other types of financial products and may reduce principal. See contract for specific details of the surrender charge schedule. Withdrawals prior to 59 ½ may be subject to IRS penalties, separate from the annuity’s schedule of surrender charges. AAA Life and its specialists do not provide legal, tax or financial advice. Please consult your professional advisor prior to the purchase of any contract.
2. IRAs and Qualified Plans already provide tax deferral of earnings. There is no additional benefit from the annuity’s tax deferral feature. An annuity can be used to fund an IRA when its features, other than tax-deferral, are beneficial.
3.The first-year declared interest rate is an annual effective yield that is guaranteed for the first contract year. It is separate from the contract’s Guaranteed Minimum Interest Rate that is effective for all contract years.
4. The payout amount you will receive is based on your individual circumstances, the options and features you select at the time of application, and your initial premium payment. Your selection of options and features may reduce your payout amount.
5. Spouse includes registered domestic partner, civil union partner, or party to a domestic partnership between two adults, as recognized by state law.
This information is an outline of the contract provisions and does not contain all of the benefits and exclusions. For complete terms of the Immediate Annuity, please refer to the contract.
Annuities offered by our affiliate AAA Life Insurance Company, Livonia, MI. AAA Life (CA Certificate of Authority #07861) is licensed in all states except NY.
AAA Life, local AAA Clubs and their agents do not provide legal, tax or financial advice. Please consult your professional advisor prior to the purchase of any contract.
Contract Form Series: ICC14-4120, SPIA-4120 (In OR: ICC14-4120)