The Advance Premium Deposit (APD) Account lets you save additional money for the future. You may deposit funds into an APD account to save for yourself, for your child, or to pay future premiums.
There is only a $5 minimum balance and of course there are never any fees*. This savings account is an optional policy feature, not a bank account. It is not FDIC insured, but is guaranteed and secured by the exceptional financial strength of American Savings Life Insurance Company.
Your optional savings in the Advance Premium Deposit Account can earn a guaranteed interest rate of 4% or more per year.
- APDs are available for all of our policies
- No monthly account fees
- The maximum account balance for an APD is limited to the maximum future premiums of the policies assigned to the APD
- Youth Life policies have a maximum balance of $7,000 for every $10,000 of insurance
For example...
Example 1: If you had two Youth Life policies on two of your grandchildren, you could keep up to $14,000 in your APD, earning at least 4% interest
Example 2: If you just applied for a Grand Slam policy with an annual premium of $1,000. You could have $20,000 in an APD earning at least 4% interest that first year. The second year you could have up to $19,000, because you only have 19 premiums remaining on the policy.
* Fees may be charged for special services requested (e.g. wire requests)
Compare our APD with our GIC and fixed annuity