Summary of Western National Future Freedom Annuity
Safety for your funds.1 With the return-of-premium guarantee, you can even ask for and receive 100% of your purchase payment(s) (premium) back – at any time – less any withdrawals already taken, or the withdrawal value (annuity value less any withdrawal charges), whichever value is greater.
Tax-deferral advantage.2 You can postpone taxes on your interest earnings until you are ready to make withdrawals.
Easy access to your money.2 In case of an emergency, you can take advantage of the annuity’s penalty-free early withdrawal privilege.
Early withdrawal charge waivers. Multiple withdrawal charge waivers are available and can be used if you need to stay in a nursing home, are unable to perform certain activities, or discover you have a terminal illness. Not available in some states and contract provisions may vary from state to state.
Estate-planning advantage (death benefit). Fixed annuities generally avoid the expense and delay of probate (a court-supervised process that establishes the validity of a will).
For more information:
Clients: Call Client Care Center at 1-800-424-4990.
Selling Agents: Call Internal Wholesaling at 1-888-237-4210.
1 This and all guarantees mentioned are subject to the claims-paying ability of American General Life Insurance Company. Annuities have limitations.
2 Remember, withdrawals of taxable amounts are taxed as ordinary income and, if taken prior to age 59½, your withdrawal may be subject to a 10% federal early withdrawal penalty. Contractual withdrawal charge fees (surrender charges) may also apply.
3 Depending on market conditions, some interest rate options may not be available at all times. Please check with your licensed representative for availability.
Tax-qualified contracts such as IRAs, 401(k)s, etc., are tax deferred regardless of whether or not they are funded with an annuity. If you are considering funding a tax-qualified retirement plan with an annuity, you should know that an annuity does not provide any additional tax-deferred treatment of earnings beyond the treatment by the tax-qualified retirement plan itself. However, annuities do provide other features and benefits such as income options.
Neither American General Life Insurance Company nor its agents or representatives are authorized to give legal, tax or accounting advice. Please consult your attorney, accountant, or tax advisor on specific points of interest.
The Western National series of annuities is issued and underwritten in New York by The United States Life Insurance Company in the City of New York and in all other states by American General Life Insurance Company.