Investment Annuity
This annuity was designed to be one of the few places you can place your money without any penalties, fees or time commitment. It is comparable to a savings account but earns a minimum interest rate of three percent (3%). There is no minimum deposit amounts. There is no early withdrawal penalty or renewal periods. It is a very simple one step annuity that is perfect for a number of situations.
Tax Deferred
If you choose to leave your money in the annuity and not withdraw any amount, the interest income is tax deferred until you withdraw the funds. Oklahoma requires that the first amount withdrawn will be the interest income and then the principal.
Interest Rate
The interest rate on this annuity is a variable rate and all policy holders will be notified prior to interest rate changes. The interest rate will never be below three percent (3%)
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Advantage Annuity
This annuity plan was designed to give you a safe place to invest your money for a longer period of time with the flexibility of withdrawing a small percentage each year. You may withdraw the interest and up to ten percent (10%) of the principal amount each year without penalty. Any withdrawals over this amount are subject to the surrender charge penalty.
The surrender charge
There is an eight percent (8%) surrender charge of full surrender or surrender of over ten percent (10%) of the principal during the first year. That percentage rate drops one percent (1%) per year until year nine, when there is no penalty to withdraw funds.
Tax Deferred
If you choose to leave your money in the annuity and not withdraw any amount, the interest income is tax deferred until you withdraw the funds.
Interest Rate
This annuity earns the highest interest rate of any of American Century Life Annuity Products.
The interest rate on this annuity is a variable rate and all policy holders will be notified prior to interest rate changes. The interest rate will never be below three percent (3%)
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