Product Details

All premiums paid will be refunded if a policy is returned to American Fidelity for cancellation within thirty days after it has been delivered.

Additional Declared Interest Rider (ADIR). Surrender charges will apply. See policy.:
At the point of application, an eligible participant may select one of the following: 1- Year ADIR, 2-Year ADIR, 5-Year ADIR, or 10- Year ADIR. 1 Year ADIR: 1.50% for 12 months 2 Year ADIR: 1.25% for 24 months 5 Year ADIR: 0.50% for 60 month 10 Year ADIR: 0.75% for 120 months 1, 2, and 5 Year ADIR have a 5 year surrender charge period that starts at 9% for the first two years and reduces to 8% in the third year, 7% in the fourth year, and 6% in the fifth year. 10 Year ADIR has a 10 year surrender charge period that starts at 9% for the first two years and reduces by 1% each year thereafter.

Income payments will be made for the joint lifetimes of two payees with payments reducing to one-half of the original amount when either payee dies. No payments will be due after the surviving payee's death. Rates for different age combinations or other forms of joint life income can be furnished upon request.

Income payments will be made for the life of the payee. No payments would be due after the death of the payee.

Income payments will be made for the life of the payee. Upon the death of the payee, payments would continue to the beneficiary for a specified period of time. The length of the period certain is predetermined as of the annuity's start date. If the payee should live beyond the specified period certain, then payments would cease upon the death of the payee.

The payee shall receive a life annuity of a specific amount with the guarantee that if at death, the amount of the original balance has not been received by the Annuitant, the payments would continue to the named beneficiary until the combined amounts received by the payee and the beneficiary equal the original balance. In the event the beneficiary predeceases the payee and the payee has not designated a successor beneficiary, the remaining payments shall be paid to the estate of the payee.

Under Internal Revenue Code Section 403(b), lump sum distributions are permitted in the following instances: 1) Participant attains age 59 1/2; 2) Participant has terminated employment; 3) Participant is permanently and totally disabled as defined by Section 72(m)(7) of the Internal Revenue Code; and 4) If plan permits, participant has experienced a financial hardship as defined by the Internal Revenue Code as: a) unpaid family medical expenses; b) costs related to the purchase of a principal residence; c) tuition and related educational fees and expenses; d) payments necessary to prevent eviction from, or foreclosure on, a principal residence; e) burial or funeral expenses; and f) certain expenses for the repair of damage to the employee's principal residence.

The payee would recieve either monthly, quarterly, semi-annual, or annual payments from the balance of the account over an elected number of years. If the payee dies while receiving these guaranteed installments, any unpaid guaranteed installments shall be continued to the beneficiary, if living at the time of death of the payee, otherwise the commuted value will be paid in one lump sum to the executors or administrators of the estate of the payee.