American Life
20000
company Information
Company Name
American Life
product Name
americanselectseries.pdf
Description
American Life is a wholly owned subsidiary of Midwest Holding Inc, an SEC registrant and publicly traded holding company. American Life was founded in 1960 and reimagined in 2018, when Midwest Holding recapitalized and repositioned the company as a capital efficient, technology-enabled, services-oriented, life and annuity insurance company. The company aims to keep costs and overhead low, passing the savings on to customers through competitively priced products. American Life has a long-term outlook that focuses on maintaining stability as they grow.
am best rating
B++ Good (5th of 13 ratings)
Product Type
Index annuities are for conservative investors who like safety. They were introduced in 1995 to compete with bank CDs.
Index annuities are fixed annuities that deliver fixed income type of returns.
They don’t have the upside or downside of the market. They compete with bonds, CDs, and other safer investments.
They allow you to capture some of the growth of a market index while having 100% downside protection. Returns are linked to a positive performance in an external index.
You are not directly participating in the market. You are watching the market, and a formula decides how much gain of the index you receive.
Product description
American Select Bonus Plus
term
10 Years
minimum investment
$ 1,000,000
maximum investment
$ 85
maximum age
After the first contract year, you can withdraw up to 10% of the account balance penalty-free.
withdrawal allowance
Withdrawals are Permitted
what we like
- Yes
what we don’t like
- 10
- or -
Surrender Charge Schedule
Surrender charges are a penalty charged to early withdrawals of annuity contract. They are a percentage of the withdrawal amount, decrease over time, and go to zero when the term ends.
percentage charged to withdrawal
market-value adjustment (MVA)
A market value adjustment is basically an additional charge or credit for taking money out early from an annuity.
They allow companies to pay a higher rate and make longer-term investments.
MVAs only affect you if you withdraw funds early. If you own the contract to maturity, they do not apply.
other Information
| S&P rating | American Select Bonus Plus |
|---|---|
| Product brochure |  |
| agent commission | 3,000.00 |
| LOGIN FOR | Yes |
| premium Type | American Select Base American Select Bonus American Select Bonus Plus |
|---|---|
| account Type | 2-6% |
| options at maturity | 4.0 - 7.0% |
| death benefit provision | (402) 489-8266 |
| taxes | AmericanLife.com |
| surrender schedule | 9%, 8.1%, 7.2%, 6.3%, 5.4%, 4.5%, 3.2%, 2.7%, 1.8%, 0.9% |
|---|---|
| free-look period | • Janus SG Guidance Index: Value Lock 2-Year Point-to-Point Par • S&P 500 Annual Point-to-Point Cap • S&P 500 Annual Point-to-Point Par • S&P 500 MARC 5 ER Annual Point-to-Point Par |
| RMD | No Fee |
| market value adjustment | No |
