The Benefit Gold from American Equity is a flexible premium deferred annuity that pays a first-year premium bonus of 5%. This annuity has a 10-year surrender period but is only available in a few states (AK MN NJ NV OH OK OR PA TX UT WA).
Minimum Single premium
$10,000
Maximum single premium
- Ages 18 – 69 years – $1,500,000
- Ages 70 – 74 years – $1,000,000
- Ages 75+ – $750,000
Liquidity
Subject to surrender charges, Benefit Gold annuity from American Gold contract allows withdrawal of funds at any time. Annuitants can withdrawal up to 10% penalty free. The policy also supports riders to increase liquidity in case of diagnosis with a terminal illness, or confinement to a nursing home.
Avoidance of probate
In the event of premature death of the annuity holder, accumulated funds within the contract are handed over to appointed beneficiaries with a very good chance of avoiding the expense, delay and publicity of probate. The beneficiaries can choose to either receive these funds as monthly payments, or as a single lump sum payment.
Guaranteed income
With the Benefit Gold annuity, American Equity can provide you with a guaranteed income. You can choose from several income options, including payments over a number of years, or throughout your entire lifetime.
Your premiums and interest grow tax-deferred till you start making withdrawals or receiving income.
Benefit Gold Benefits
5% premium bonus
This bonus is credited on the policy holder’s premium immediately they deposit the funds. This bonus is then included in the calculation of cash surrender value and death benefit.
Death benefit
This annuity has a death benefit, which is the full value of your contract that’s paid to your beneficiaries as a lump sum with no surrender charges.
Accessibility – 10% penalty-free withdrawals
For many people buying annuities, access to their funds is very important. Unlike most other financial vehicles that charge a penalty for withdrawals before maturity, American Equity Benefit Gold offers an annual 10% penalty-free withdrawal, beginning in year 2. Within the first year, you may take systematic withdrawals of interest or RMD (Required Minimum Distributions) from the fixed interest account as soon as 30 days after your contract is issued.
Surrender charges
Surrender charges are deducted for all withdrawals that exceed the penalty-free threshold, and apply for the first 10 years of the contract for issue ages 0-80. Surrender charges start at 13.25% and decrease year in year out.
TIR-100
Automatically inclusive rider for all policy issues under age 75. This rider allows contract owners to make a 100% penalty-free withdrawal if they are diagnosed with a terminal ailment that’s expected to result in death within one year.
NCR-100
This is an automatically inclusive rider for all annuitants below the age of 75. It allows the contract owners to make a 100% penalty-free withdrawal after the 3rd contract anniversary if they’re confined to a nursing home.
