What is the PREMIER SERIES II Annuity

What is the ASL PREMIER Series II Fixed Annuity?

Let’s take a good close look at the American Savings Life PREMIER SERIES II Single Premium Fixed Deferred Annuity. (Yeah, that’s a mouthful, but those just may be eight of the most important words your retirement portfolio ever heard!):

  • American Savings Life: A 60 year old Arizona life insurer with exceptional financial strength securing your investment.
  • PREMIER: These annuities offered by American Savings Life Ins Co boast features that truly make it worthy of the title “premier.”
  • SERIES II: There are four variations of the PREMIER SERIES II Annuity, each with a different interest rate and surrender charge duration.
  • SINGLE PREMIUM: This annuity is purchased with a single payment only, no additional premiums are allowed.
  • FIXED: It is a “Fixed Annuity” because it offers fixed interest rates that are not dependent on the performance of the stock market or any other market.
  • DEFERRED: It is a “Deferred Annuity” because you have the ability to defer (delay or postpone) the time when you begin to take out regular payments for life (“annuitize”). This allows you to benefit from tax-deferred growth and only pay taxes on your gains when you actually receive them.
  • ANNUITY: A contract issued by a life insurance company that guarantees regular payments for life or a specified number of years.

Why choose the ASL PREMIER Series II Annuity?

Some of the key differentiators that make the American Savings Life PREMIER SERIES II Annuity an attractive, compelling retirement accumulation vehicle include:

"Bailout" Interest Rate

Every year, 30 days prior to your contract anniversary, the Company will notify you of the guaranteed interest rate for the next year. If this interest rate is ever below your contract’s “Bailout” Interest Rate, you will have a two month period (30 days before and 30 days after your contract anniversary) to notify the Company if you want to withdraw part of or all of your annuity balance without any surrender charges.

High Minimum Guaranteed Interest Rate

You are guaranteed to earn at least 2.00% for as long as you keep your annuity. This is one of the highest guaranteed interest rates in the industry.

Many ways to access your annuity funds

We understand that “life happens” and there are sometimes unexpected cash needs. The ASL PREMIER SERIES II Annuity offers these ways to access your annuity funds

Receive regular interest payments

At any time you may select to have the interest paid to you monthly, quarterly, semi-annually or annually (minimum check amounts of $200).

Withdraw up to 10% of the annuity value

Each year after the first year you may request to withdraw up to 10% of the beginning of the year annuity value without any surrender charge. (Each contract year you may only select one of these options: regular interest payments or withdrawing up to 10%.)

Death Benefit

If the Annuity Owner dies while the annuity is still in the accumulation (growth) phase, the entire annuity value becomes available for the chosen Beneficiary with no surrender charges. This can help avoid costly probate delays. (There may be IRS tax implications upon the Owner’s death. Please consult your tax advisor.)

Annuitization

If you “annuitize” (elect to begin receiving regular payments for life or a set number of years) your annuity during the surrender charge period, no surrender charges will be assessed provided the annuity payment option is for the life of the Owner or for at least ten years. (To avoid a 10% IRS tax penalty, annuitization is only recommended after age 59 ½.)

Backed by an exceptionally strong insurer

Although annuities are not FDIC insured or guaranteed by the federal government, the ASL PREMIER SERIES II Annuity is backed by the full financial strength of American Savings Life Insurance Company. See how ASL compares to the largest most well-known life insurers. ASL policyholders have a tremendous amount of security provided by the extraordinary amount of stockholder surplus guaranteeing the policy reserves.

What this means

Before any ASL policyholder can lose a dime of value in their policy or annuity, ASL shareholders have to lose every penny of equity. With the stockholders of ASL having such a high surplus ratio, they have a lot more “skin in the game” than most other life insurance companies compared to the amount of funds required to have for our policyholders.

30 Day “Free Look”

You have a full 30 days after you receive your annuity contract to change your mind for any reason and request to cancel your annuity, in which case you will be returned your entire annuity premium paid.

Is the ASL PREMIER SERIES II Annuity a suitable retirement vehicle for you?: When selecting the most appropriate retirement vehicle for you, keep in mind your investment objective, risk tolerance and investment time horizon. If tax-deferred growth and a fixed rate of return are important to you, the ASL PREMIER SERIES II Annuity may fit your needs.

Year Premier Series 9 Premier Series 7 Premier Series 5 Premier Series 3
1 8.0% 7.0% 6.5% 6.0%
2 7.0% 7.0% 6.5% 5.0%
3 6.0% 6.0% 5.5% 4.0%
4 5.5% 5.5% 4.5% -0-
5 4.5% 4.5% 3.5% -0-
6 3.5% 3.5% -0- -0-
7 2.5% 2.5% -0- -0-
8 1.5% 1.5% -0- -0-
9 1.0% 1.0% -0- -0-
10+ -0- -0- -0- -0-
Contract Year / Surrender Charge (%)
  1 2 3 4 5 6 7 8 9 10+
Premier Series 9 8.0% 7.0% 6.0% 5.5% 4.5% 3.5% 2.5% 1.5% 1.0% -0-
Premier Series 7 7.0% 7.0% 6.0% 5.5% 4.5% 3.5% 2.5% -0- -0- -0-
Premier Series 5 6.5% 6.5% 5.5% 4.5% 3.5% -0- -0- -0- -0- -0-
Premier Series 3 6.0% 5.0% 4.0% -0- -0- -0- -0- -0- -0- -0-
Note: Our policies & insurance products are currently available to AZ and UT residents only.