American Life & Security Corp.’s initial product, the “American Accumulator” is a unique ordinary life insurance policy that is being offered on a pre-selected basis by referrals utilizing the best method of advertising, “Word of Mouth.”
The “American Accumulator” is a multi-benefit life insurance policy that combines cash value life insurance benefits with a tax deferred annuity that allows the owners of the contract to have a guaranteed life insurance benefit, with an opportunity to share in the excess interest earnings of the Company.
As you live you will:
- a. Share in the excess interest earnings of American Life & Security Corp. through an annuity, with the interest rate declared annually (guaranteed minimum 3%) by the Board of Directors.
- b. Create a cash estate that will help provide future funds for retirement, education, or emergency needs.
- c. Have a guaranteed interest rate on loans.
- d. Earn interest on your annuity on a tax deferred basis.
- e. Have flexibility to deposit additional funds into the annuity.
In the event of death:
- Your beneficiaries will receive the face amount of your Life Insurance Contract, plus the accumulated value of your annuity.
In the event of unexpected difficulties, you may:
- Surrender your contract for the accumulated cash value.*
- Reinstate your contract within 5 years, providing you are insurable.
- Borrow cash from your life insurance contract and your annuity.*
* Early withdrawals off annuity earnings may result in taxable income and penalties.
The Board of Directors declares the annuity interest rate based upon the Company’s excess interest earnings. The Board has established a guaranteed minimum of 3%, but has declared a current rate of 5.75% tax-deferred.