Text Size A A A
Have a question?

Summary of FSA Flex 7 Annuity

Safety for your funds.2 With the return-of-premium guarantee, you can even ask for and receive 100% of your principal back—at any time—less any withdrawals already taken.

Tax-deferral advantage.3 You can postpone taxes on your interest earnings until you are ready to make withdrawals. Meanwhile, your principal and earnings earn interest. Even the money that otherwise would have gone toward paying federal income taxes stays in the account, earning interest. That means you can accumulate more money over a shorter period of time, which ultimately can provide you with a greater income.

Competitive rates—earn guaranteed interest.4 The FSA Flex 7 Annuity offers a choice of a one-, three-, five-, or seven-year interest rate guarantee option on your initial purchase premium. The one-year guarantee offers a choice between a premium bonus and a first year interest rate enhancement. Lock in the initial interest rate guarantee that works best for you. On the one-year and three-year options an interest enhancement may be included in the initial rate on the original premium payment during either the first contract year or the first three years.

Minimum guaranteed renewal rate.2 Regardless of future economic conditions, your annuity is guaranteed to renew at or above the minimum interest rate stated in your contract.

Easy access to your money.3 In case of an emergency, you can take advantage of the annuity’s penalty-free early withdrawal privilege.

  • After 30 days from the contract date, you may take multiple penalty-free withdrawals each year not exceeding in total the greater of (1) the accumulated interest earned or (2) up to 15% of the previous anniversary annuity value.

  • If you do not use all of the 15% free withdrawal percentage in a contract year, you may carry over the unused portion to the next contract year up to a maximum of 20% of the most recent contract anniversary annuity value.
  • You can access more than the permitted free withdrawal amount any time. However, such withdrawals will incur the following withdrawal charges for seven years from the contract date: 9%, 8%, 7%, 6%, 5%, 4%, 2%, 0%.
 

Early withdrawal charge waivers.  Multiple early withdrawal charge waivers are available and can be used if you need to: stay in a nursing home, are unable to perform certain activities, or discover you have a terminal illness. 

Estate-planning advantage (death benefit). Fixed annuities generally avoid the expense and delay of probate (a court-supervised process that establishes the validity of a will). Plus, with the FSA Flex 7 Annuity, you can designate and/or change your beneficiary(ies) at no cost. The annuity guarantees the annuity value will be paid directly to the beneficiary, without withdrawal charges.

Multiple income payout options. When you are ready to start taking income, you can choose an income option that guarantees income for life or for a certain period. 

No initial sales charges or annual administrative fees. That means your money can start to work for you right away.


Call 1-877-289-0256 for more information.


1 Annuitization required (the process of converting the fixed annuity into a series of periodic income payments).

2 This and all guarantees mentioned are subject to the claims-paying ability of First SunAmerica Life Insurance Company.

3 Taxes are due upon withdrawal and withdrawals taken prior to age 59½ may be subject to a 10% federal income tax penalty.

4 Depending on market conditions some interest rate options may not be available at all times. Please check with your licensed representative for availability.