Great American Life Insurance Company Annuities
Index Protector 7
Diversify your clients' portfolios with Index Protector 7. Intended for distribution by Investment Advisor Representatives doing fee-based planning, this zero commission fixed-indexed annuity offers a return of premium guarantee at no additional charge. Index Protector 7 is issued with single premium and accepts additional payments in the first two months of the contract. For a complete product description, see the Product Overview located under the Marketing Materials tab.
- Qualified 18-85
- Non-Qualified 0-85
- Inherited IRA 18-75
- Inherited non-qualified 0-75
- Inherited non-qualified
- 403(b) (Traditional and Roth)
- IRA (Traditional, Roth, SEP, SIMPLE and Inherited)
- Issued with single premium
- Subsequent allowed 60 days from issue only; Minimum: $25,000
- $2 million for ages 0-75
- $1.5 million for ages 76-80
- $1 million for ages 81+ without prior Home Office approval
Return of premium value is sum of all purchase payments, minus withdrawals and applicable taxes and rider charges. Available after the third contract year. Included at no extra charge.
- 1-Year Declared Rate
- S&P 500 1-Year Point-to-Point
- S&P 500 Risk Control 1-Year Point-to-Point with Par Rate
- S&P U.S. Retiree Spending 1-Year point-to-point
- iShares U.S. Real Estate 1-Year point-to-point
- Purchase payment account interest rate
- Declared interest rate
- Indexed interest rate
- 7-year declining: 7%, 7%, 7%, 6%, 5%, 4%, 3%
- During the first contract year, 10% of purchase payments may be withdrawn without an early withdrawal charge or market value adjustment.
- After the first contract year, 10% of the account value as of the most recent contract anniversary may be withdrawn without an early withdrawal charge or market value adjustment.
A market value adjustment will apply to withdrawals or surrenders during the seven-year term.
- Fixed dollar and RMDs
- Terminal Illness Waiver
- Extended Care Waiver
- Purchase payment account value
- Declared rate strategy value
- Interest strategy value
- Equals the greatest of the account value (minus early withdrawal charges and MVAs), the guaranteed minimum surrender value or the return of premium guarantee (after contract year three).
- Fixed period income
- Life income or life income with payments for at least a fixed period
- Joint and one-half survivor income
- The greatest of the account value, GMSV or return of premium will be paid upon the death of the owner. A spouse who is the surviving owner or sole surviving beneficiary may become the successor owner.
The GMSV equals 87.5% of purchase payments, plus interest credited daily at a minimum guaranteed rate, less withdrawals and net of applicable MVAs and early withdrawal charges. The GMSV will not be less than the minimum values required by each state.