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Legend 7 Brochure
Great American Ratings
Great American Insurance GroupRating
301 E Fourth St., Cincinnati, OH 45202
A.M. Best Rating (15 possible ratings)A (3)
Moody's (21 possible ratings)A2 (6)
Standard & Poor's (20 possible ratings)A+ (5)
Comdex (percentile of all rated companies)82
Need Assistance?
  • If you have questions, require assistance or would like to schedule a free 30 minute consultation we are always available via phone and email. You may also message a request or question via our Contact Page.
  • Address10497 Balroyal Court
  • Phone:855-583-1104

Great American Legend 7 Product Details

Issue Ages
  • Qualified 0-85
  • Non-qualified 0-85
  • Inherited IRA 0-75
  • Inherited non-qualified 0-75
Tax Qualifications
  • Non-qualified
  • Qualified
  • Inherited non-qualified
  • 403(b) (Traditional and Roth)
  • IRA (Traditional, Roth, SEP, SIMPLE and Inherited)
  • 457(b)
Purchase Payments
  • Issued with single purchase payment
  • Subsequent purchase payments accepted in first two contract months
Purchase Payments Minimum and Maximum

Minimum:

  • $10,000

Subsequent:

  • $2,000

Maximum:

  • $1 million for ages 0-85
Early WIthdrawal Charges
    • 7-year declining 9%, 8%, 7%, 6%, 5%, 4%, 3%

     

Free Withdrawal Alloawances
  • During the first contract year, 10% of purchase payments may be withdrawn without an early withdrawal charge or market value adjustment.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 sum of the account value as of the most recent contract anniversary plus all purchase payments received since that contract anniversary may be withdrawn without an early withdrawal charge or market value adjustment
  •  
Waivers
  • Terminal Illness Waiver
  • Extended Care Waiver
Market Value Adjustment (MVA)

A market value adjustment will apply to withdrawals or surrenders during the seven-year term

Crediting Strategies
  • Declared Rate
  • S&P 500 1-Year Point-to-Point with Cap
  • S&P 500 1-Year Monthly Sum with Cap
  • SPDR Gold Shares 1-Year Point-to-Point with Cap
  • S&P 500 Risk Control 1-Year Point-to-Point with Par Rate
  • S&P U.S. Retiree Spending 1-Year Point-to-Point with Par Rate
  • iShares U.S. Real Estate 1-Year Point-to-Point with Cap
Payout Options
  • Fixed period payout
  • Life payout
  • Life payout with payments for at least a fixed period
  • Joint and one-half survivor payout
Fees

There are no upfront or recurring fees

Great American Legend 7 Annuity Rates October 2020

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