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What does the message “The maximum loan available has been reduced as interest and/or surrender escrow is additionally required to be withheld for this loan” mean?

April 26, 2017additionally escrow loan maximum message reduced surrender

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What does the message “The maximum loan available has been reduced as interest and/or surrender escrow is additionally required to be withheld for this loan” mean?

2 Answers

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If the maximum loan amount available to you is equal to your annuity value, you will receive this message. For the loan, AIG VALIC will secure the loan amount, the first quarter’s interest plus any applicable surrender charges into an escrow account for you. In order to secure these amounts, the actual loan amount available to you may be reduced. Return to top of page.

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If the maximum loan amount available to you is equal to your annuity value, you will receive this message. For the loan, AIG Retirement will secure the loan amount, the first quarter’s interest plus any applicable surrender charges into an escrow account for you. In order to secure these amounts, the actual loan amount available to you may be reduced. Return to top of page.