American Pathway® SolutionsMYG Annuity
“MYG” means multi-year guarantee.
If you’re interested in a conservative, flexible addition to your retirement savings, talk to your financial professional about single-premium fixed annuities. American Pathway SolutionsMYG balances stability and choice with an opportunity to grow your annuity value over time – and convert it to income in the future.
Potential Benefits of American Pathway SolutionsMYG Annuity
Help reduce uncertainty with the ability to earn a guaranteed initial interest rate for the term selected. Get started without any up-front sales charges or administrative fees.
This annuity includes an income option that converts the contract balance into a guaranteed income stream for life through annuitization.1
1 Annuitization permanently converts your principal in to an income stream. Once annuitization begins, you will no longer have access to your principal as a lump sum.
After the first contract year, 15 percent of the previous anniversary annuity value may be withdrawn annually with no market value adjustment (MVA) or early withdrawal charge fee applied.
Also, there is a 30-day window at the end of the guaranteed rate period to make a full or partial withdrawal without an MVA or early withdrawal charges. In addition, a new guaranteed rate period will begin. You can choose a new rate term or keep the same term. Once the 30-day window expires, withdrawal charges will resume and will apply to any withdrawals in excess of permitted free amounts that are made during the 10 years (seven years in New York) following the contract date, and a new guaranteed rate term will begin. An MVA does not apply after the expiration of the guaranteed rate period.
Guaranteed rate periods of five, six, or seven years in New York, and five, six, seven, eight, nine, or 10 years in most other states. The interest rate is guaranteed for the length of the period you select.
Regardless of future economic conditions, your annuity is guaranteed to renew at or above the minimum interest rate, which is listed in your contract or applicable endorsement(s).
A market value adjustment applies in the event of early and/or excess withdrawal during the guaranteed rate period. When interest rates are higher than or slightly below the level at time of purchase, the MVA will result in a deduction. If interest rates are down significantly, a positive MVA will be added. Should a negative adjustment apply, the amount charged will not result in your receiving less than the premium(s), less any prior withdrawals (including applicable withdrawal charges and any MVA), accumulated at the guaranteed minimum interest rate. MVA does not apply to withdrawals representing free withdrawal amounts or death benefit. The Treasury Constant Maturity Series reported by the Federal Reserve is used to measure rates.
Talk to Your Financial Professional
Ask your financial professional for more information about annuity solutions that can help you establish a reliable retirement income source.
Annuities issued by American General Life Insurance Company (AGL), except in New York where issued by The United States Life Insurance Company in the City of New York (US Life).
Products and riders may vary by state or may not be available in all states.
The above insurance companies are members of American International Group, Inc. Contract and optional guarantees are backed by the claims-paying ability of the issuing insurance company.
"AIG" is a marketing name for products issued by AGL and US Life.
The Company, its distributors and representatives are not authorized to give legal, tax or accounting advice. Applicable laws and regulations are complex and subject to change. Any tax statements in this material are not intended to suggest the avoidance of U.S. federal, state or local tax penalties. For advice concerning your situation, consult your professional attorney, tax advisor or accountant.
Not FDIC or NCUA/NCUSIF Insured. May Lose Value - No Bank or Credit Union Guarantee - Not a Deposit - Not Insured by any Federal Government Agency.