PlanGap® Annuity

A PlanGap® innovation offered by American Life

The PlanGap® Annuity is the first annuity that has a bonus providing protection against reductions in your Social Security benefits.

For individuals looking for a simple and secure way to manage their money into retirement, American Life offers the PlanGap® Annuity, an innovative Fixed Deferred Annuity with a Multi-Year Rate Guarantee (MYGA). The PlanGap® Annuity provides a low-risk and predictable return, while providing protection against Social Security benefit reduction.

PlanGap Annuity Brochure
What Makes PlanGap® Different?

The PlanGap® Annuity* is the first annuity that has a bonus providing protection against reductions in your Social Security benefits and a Flexibility Bonus if the Social Security funding gap is solved and you no longer feel the need for protection.

No one knows what is going to happen to the Social Security system. What we do know is that a reduction in benefits would cause a serious hardship for many Americans. Our PlanGap® Annuity can help protect the promises that have been made to you and allow you to sleep better at night.

Our goal is to provide you with peace of mind around your retirement income no matter what happens with the funding for Social Security.

* The PlanGap® Annuity is composed of policy document ICC18-MYGA 001 08/18 and the following included riders:
  • ICC18-MYGADBR 001 08/18
  • ICC20-MYGAEIC 001 01/20
  • ICC20-MYGALR 001 01/20
  • ICC20-MYGACVER 001 01/20

"4 out of 5 adults rely on, or plan to rely on, Social Security in the future as a source of income in retirement."

AARP Social Security 80th Anniversary Survey

Benefits of an American Life PlanGap® Annuity

Social Security is something you’ve worked hard for and have paid into over your entire career.

Low Risk

Our interest rate is fixed for the guarantee period and won’t change based on market changes or economic volatility.

PlanGap® - Social Security Protection

The PlanGap® Annuity is the first annuity that has a bonus providing protection against reductions in your Social Security benefits.

Flexibility Bonus

Customers are rewarded if the Social Security funding gap is solved and they no longer feel the need for protection.

Secure

American Life is secure and highly rated. (A.M. Best B++)

Tax Deferred

Account value can grow at its full potential, because income taxes are not due until the funds are withdrawn.

Guaranteed Death Benefit

Upon death, any unpaid PlanGap® bonuses are protected and the account value may be withdrawn without penalty.

About American Life

Founded in 1960 and reimagined in 2018, American Life has been providing financially stable insurance products to customers for almost 60 years.

American Life is committed to providing best-in-class life and annuity products. American Life combines industry best practices with forward-thinking technology to deliver market-leading products and a seamless customer experience.