WNL Flex 7 Annuity - AIG.com

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Of course, you always have the option to withdraw more than the free withdrawal amount at any time if needed. Bear in mind, any withdrawal that exceeds the free withdrawal amount is subject to an early withdrawal charge. The charges are based on a seven-year early withdrawal charge schedule. After seven years from the date of each premium payment, there are no withdrawal charges associated to that premium. Charges and fees Years from purchase premium date 1 2 3 4 5 6 7 Thereafter 9% 8% 7% 6% 5% 4% 2% 0% withdrawal charge (Charge is a percentage of premium withdrawn in excess of free amounts; interest earnings are withdrawn first [on a last-in, first-out basis] then premiums are withdrawn [on a first-in, first-out basis] after earnings are exhausted.) Note that if you decide to take money out of your annuity prior to age 59½, the IRS will consider the withdrawal a premature distribution. In which case, you may be subject to a 10% federal in<strong>com</strong>e tax penalty. Your annuity value after a partial withdrawal must be at least $2,000. If a partial withdrawal reduces the annuity value below $2,000, we reserve the right to pay the entire withdrawal value and terminate the policy. 10
Early withdrawal charge waivers (May not be available in some states.) Unexpected changes in your life can throw your original plan off track. You can withdraw the funds without an early withdrawal penalty if you: + + + + + + Need to stay in a nursing home. After the first policy year, withdrawal charges will be waived if the owner is confined to a qualifying institution or extended care facility for 90 consecutive days or longer. in the state of Florida, this waiver is only available until the owner reaches age 86. Are unable to perform certain activities. After the first policy year, withdrawal charges will be waived if the owner cannot perform two or more of the six defined activities of daily living (bathing, continence, dressing, eating, toileting and transferring) for at least 90 consecutive days. Written documentation from a licensed healthcare practitioner is required. Discover you have a terminal illness. Early withdrawal charges will be waived for one full or partial withdrawal if the owner is diagnosed with a terminal illness that will result in death within one year. This requires written certification by a qualified physician. In the state of Illinois, this waiver is available for a terminal illness that will result in death within two years. Please note that these early withdrawal charge waivers are not available in some states and provisions may vary from state to state. 11
Page 1 and 2: WNL Flex 7 Annuity A f l e x i b l
Page 3 and 4: Stability. Tax-deferred growth. Com
Page 5 and 6: $45,000 The power of tax-deferred g
Page 7 and 8: What happens when the initial inter
Page 9: Penalty-free early withdrawal privi
Page 13 and 14: Your annuity income payment options
Page 15 and 16: Financial freedom is possible. An o

WNL Flex 7 Annuity - AIG.com

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