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Power 7 Protector Plus Income

A firm favorite among retirees, the Power 7 Protector Plus Income Annuity is a delight. Secure your future with this reliable product that offers peace of mind and financial stability. It's perfect if you're in the mood for smarter planning!

Don't take our word for it, though! Check out the brochure and you'll discover alluring features: guaranteed payouts, no penalty on withdrawals and even potential for growth. Feel confident about your retirement with this annuity's consistent and solid performance.

Power 7 Protector Plus Income

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About Product

Type

Fixed Index

Purpose

Lifetime Income

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, and TSP

Launch Date

05/18/2014

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	2.15% Fixed
2-Year AQR DynamiQ Allocation PTP Participation Rate	Point to Point Biennial	153% Participation
2-Year PIMCO Global Optima PTP Participation Rate	Point to Point Biennial	47% Participation
1-Year PIMCO Global Optima PTP Enhanced Participation Rate	Point to Point Annual	53% Participation
2-Year ML Strategic Balanced PTP Enhanced Participation Rate	Point to Point Biennial	113% Participation
1-Year ML Strategic Balanced PTP Enhanced Participation Rate	Point to Point Annual	73% Participation
2-Year ML Strategic Balanced PTP Participation Rate	Point to Point Biennial	78% Participation
2-Year PIMCO Global Optima PTP Enhanced Participation Rate	Point to Point Biennial	77% Participation
2-Year AQR DynamiQ Allocation PTP Enhanced Participation Rate	Point to Point Biennial	213% Participation
1-Year AQR DynamiQ Allocation PTP Enhanced Participation Rate	Point to Point Annual	163% Participation
1-Year AQR DynamiQ Allocation PTP Participation Rate	Point to Point Annual	98% Participation
1-Year S&P 500 PTP Enhanced Participation Rate	Point to Point Annual	26% Participation
1-Year S&P 500 PTP Cap	Point to Point Annual	4% Cap
1-Year PIMCO Global Optima PTP Participation Rate	Point to Point Annual	23% Participation
1-Year S&P 500 PTP Participation Rate	Point to Point Annual	11% Participation
1-Year ML Strategic Balanced PTP Participation Rate	Point to Point Annual	33% Participation
1-Year S&P 500 Performance Triggered	Performance Triggered Annual	3.45% Performance triggered
1-Year Fixed Account	Fixed	2.4% Fixed
2-Year AQR DynamiQ Allocation PTP Enhanced Participation Rate	Point to Point Biennial	223% Participation
2-Year PIMCO Global Optima PTP Enhanced Participation Rate	Point to Point Biennial	82% Participation
1-Year PIMCO Global Optima PTP Enhanced Participation Rate	Point to Point Annual	58% Participation
2-Year PIMCO Global Optima PTP Participation Rate	Point to Point Biennial	52% Participation
1-Year S&P 500 PTP Enhanced Participation Rate	Point to Point Annual	31% Participation
2-Year ML Strategic Balanced PTP Enhanced Participation Rate	Point to Point Biennial	133% Participation
1-Year ML Strategic Balanced PTP Enhanced Participation Rate	Point to Point Annual	88% Participation
2-Year ML Strategic Balanced PTP Participation Rate	Point to Point Biennial	88% Participation
1-Year AQR DynamiQ Allocation PTP Enhanced Participation Rate	Point to Point Annual	173% Participation
2-Year AQR DynamiQ Allocation PTP Participation Rate	Point to Point Biennial	163% Participation
1-Year AQR DynamiQ Allocation PTP Participation Rate	Point to Point Annual	108% Participation
1-Year PIMCO Global Optima PTP Participation Rate	Point to Point Annual	28% Participation
1-Year S&P 500 PTP Cap	Point to Point Annual	5% Cap
1-Year S&P 500 PTP Participation Rate	Point to Point Annual	16% Participation
1-Year ML Strategic Balanced PTP Participation Rate	Point to Point Annual	43% Participation
1-Year S&P 500 Performance Triggered	Performance Triggered Annual	4.2% Performance triggered

Surrender schedule

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

Riders

Name	Inbuilt	Fee
Lifetime Income Choice Level Income	Yes	1.10% annually
Lifetime Income Choice Max Income	Yes	1.10% annually

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 Guarantee
In fixed accounts you can't lose money from market return, meaning your principal is guaranteed. With required living benefit, your principal is additionally protected because fees are less than fixed returns.

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

Withdrawal Provisions

Free WithdrawalsUp to 10% of the annuity contract value (based on prior anniversary value) if taken after the first contract year, or the Maximum Annual Withdrawal Percentage under Lifetime Income Choice, whichever is greaterMarket 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

4.5