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Annuity review

Power 7 Protector

The Power 7 Protector annuity is a gift of financial sanity to yourself. The product offers peace of mind for retirement, guaranteeing an income stream for your golden years. It's a solid start towards a worry-free future.

What's amazing is the security on your initial investment, protecting you from market downturns. Plus, the possibility of increasing income, in good market years, makes it a real winner. Truly the Power 7 Protector delivers on its promise - a comfortable, secure retirement.

Power 7 Protector

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About Product

Type

Fixed Index

Purpose

Accumulation

Term

7 Years

Surrender schedule

Fee withdrawal:

10%

Market Value Adjustment

Yes

Return Of Premium

Minimum Contribution

$25,000

Maximum Contribution

$2,000,000

Max Age Qualified

Types Of Funds

Non-Qualified, 401k, IRA, Spousal IRA, IRA Rollover, IRA Transfer, TSA 403b, SEP IRA, IRA-Roth, 1035 Exchange, Stretch IRA, Inherited IRA, NQ Stretch, and TSP

Launch Date

05/19/2014

The Power 7 Protector Index Annuity offers you a valuable combination of growth potential, principal protection from market downturns, and guaranteed income for life. This blend of accumulation and income, features may be the solution to achieving the retirement you envision.

Available in states: AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, and WY

Allocation Accounts

Name	Type	Rates
1-Year Fixed Account	Fixed	3.8% Fixed
1-Year AQR DynamiQ Allocation PTP Enhanced Participation Rate	Point to Point Annual	190% Participation
2-Year PIMCO Global Optima PTP Enhanced Participation Rate	Point to Point Biennial	100% Participation
1-Year PIMCO Global Optima PTP Enhanced Participation Rate	Point to Point Annual	65% Participation
2-Year ML Strategic Balanced PTP Participation Rate	Point to Point Biennial	100% Participation
1-Year ML Strategic Balanced PTP Enhanced Participation Rate	Point to Point Annual	100% Participation
2-Year ML Strategic Balanced PTP Enhanced Participation Rate	Point to Point Biennial	150% Participation
2-Year PIMCO Global Optima PTP Participation Rate	Point to Point Biennial	65% Participation
1-Year AQR DynamiQ Allocation PTP Participation Rate	Point to Point Annual	115% Participation
2-Year AQR DynamiQ Allocation PTP Participation Rate	Point to Point Biennial	200% Participation
2-Year AQR DynamiQ Allocation PTP Enhanced Participation Rate	Point to Point Biennial	275% Participation
1-Year S&P 500 PTP Enhanced Participation Rate	Point to Point Annual	45% Participation
1-Year S&P 500 PTP Cap	Point to Point Annual	8.25% Cap
1-Year PIMCO Global Optima PTP Participation Rate	Point to Point Annual	40% Participation
1-Year S&P 500 PTP Participation Rate	Point to Point Annual	32% Participation
1-Year ML Strategic Balanced PTP Participation Rate	Point to Point Annual	60% Participation
1-Year S&P 500 Performance Triggered	Performance Triggered Annual	6.3% Performance triggered
1-Year Fixed Account	Fixed	4.05% Fixed
1-Year AQR DynamiQ Allocation PTP Participation Rate	Point to Point Annual	130% Participation
2-Year PIMCO Global Optima PTP Participation Rate	Point to Point Biennial	80% Participation
1-Year PIMCO Global Optima PTP Enhanced Participation Rate	Point to Point Annual	80% Participation
2-Year PIMCO Global Optima PTP Enhanced Participation Rate	Point to Point Biennial	115% Participation
1-Year S&P 500 PTP Enhanced Participation Rate	Point to Point Annual	50% Participation
2-Year ML Strategic Balanced PTP Participation Rate	Point to Point Biennial	125% Participation
1-Year ML Strategic Balanced PTP Enhanced Participation Rate	Point to Point Annual	125% Participation
2-Year ML Strategic Balanced PTP Enhanced Participation Rate	Point to Point Biennial	175% Participation
2-Year AQR DynamiQ Allocation PTP Participation Rate	Point to Point Biennial	215% Participation
1-Year AQR DynamiQ Allocation PTP Enhanced Participation Rate	Point to Point Annual	205% Participation
2-Year AQR DynamiQ Allocation PTP Enhanced Participation Rate	Point to Point Biennial	290% Participation
1-Year PIMCO Global Optima PTP Participation Rate	Point to Point Annual	50% Participation
1-Year S&P 500 PTP Cap	Point to Point Annual	9.25% Cap
1-Year S&P 500 PTP Participation Rate	Point to Point Annual	37% Participation
1-Year ML Strategic Balanced PTP Participation Rate	Point to Point Annual	85% Participation
1-Year S&P 500 Performance Triggered	Performance Triggered Annual	7.3% Performance triggered

Surrender schedule

Year	1	2	3	4	5	6	7
Penalty	8%	7%	6%	5%	4%	3%	2%

Hypothetical Projection

Comparison against S&P 500 using current rates

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Investment Amount

Riders

No Riders for Power 7 Protector annuity.

Waivers

Nursing Home

Terminal Illness

Unavailable in states: CA, MA, and WA

To utilize this rider, an owner must be diagnosed with a Terminal Illness as defined in the rider. One partial or full withdrawal is permitted.

Extended Care

Unavailable in states: CA, and MA

To utilize this rider, an owner, after a 1-year deferral period, must receive qualifying Extended Care, which is treatment prescribed by a Qualified Physician, given by a Qualified Medical Professional and received by the owner while staying in a Qualified Institution for at least 90 consecutive days. The rider terminates when the owner turns age 86.

Premium Notes

Principal Protection
After 14 years, you would get your money back through minimum withdrawal value. You are not required to use the fixed account.

Premium

Initial: $25,000 minimum (qualified and non-qualified)
Subsequent: Only in the first 30 days after contract issue (as a Lump Sum or Periodic Payments). Minimum additional premium is $100.
Requires prior company approval if total of all contracts issued to the same owner and/or annuitant exceeds $2 million

Note:

TSP funds have to be rolled into an IRA.
We allow inherited IRA/NQ assets so long as it is being stretched and provided no GLB is elected. We will not write any inherited fixed business and we will not write new business on inherited assets subject to either the 5-year or the 10-year rule.

Withdrawal Provisions

Free WithdrawalsAfter the first contract year, you can withdraw up to 10% of your contract value (based on your prior anniversary value) without incurring any company-imposed charges. Market Value Adjustment (MVA)Withdrawals in excess of the Free Withdrawal amount or amounts annuitized during the first 7 years are subject to an MVA. This adjustment may either increase or decrease the amount you receive, and is determined by a formula in the contract that reflects changes in the Barclays US Credit Index yield since the contract was issued. The MVA may not apply in all states. Minimum Withdrawal ValueUpon full surrender, payment of death benefit or annuitization, you will never receive less than 87.5% of your premium, less withdrawals (excluding any withdrawal charge and MVA), growing at an annual rate as specified in your contract. State variations apply.

Company Founded: 1919

Excellent Rated Company

Corebridge Financial Inc.

Company Ratings

4.6