Power Select Advisory
The Power Select Advisory annuity is a great investment tool. It assures a lifetime income stream, perfect for retirees. Plus, it includes a death benefit and tax-deferred growth opportunities.
What a comfort knowing you've got a predictable income! Plus, the multiple investment options ensure an adaptable plan for different financial goals. Reliable and suited for a secure future.
Power Select Advisory
About Product
Designed exclusively for advisory accounts, the Power Select Advisory Index Annuity offers clients the opportunity to:
- Grow their retirement assets with potential interest from index interest accounts that are based in part on the performance of:
- S&P 500
- AB All Market Index
- MSCI EAFE
- Dimensional US Foundations Index
- Accumulate more assets for retirement through the power of tax deferral.
- Protect their principal against market loss with a fixed interest account and 4 index interest accounts.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
4%
Fixed
|
| 1-Year Dimensional US Foundations PTP Participation Rate |
Point to Point
Annual
|
120%
Participation
|
| 1-Year AB All Market PTP Participation Rate |
Point to Point
Annual
|
120%
Participation
|
| 1-Year MSCI EAFE PTP Cap |
Point to Point
Annual
|
9%
Cap
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
9%
Cap
|
| 1-Year S&P 500 Performance Triggered |
Performance Triggered
Annual
|
6.8%
Performance triggered
|
| 1-Year Fixed Account |
Fixed
|
4.25%
Fixed
|
| 1-Year Dimensional US Foundations PTP Participation Rate |
Point to Point
Annual
|
135%
Participation
|
| 1-Year AB All Market PTP Participation Rate |
Point to Point
Annual
|
135%
Participation
|
| 1-Year MSCI EAFE PTP Cap |
Point to Point
Annual
|
10%
Cap
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
10%
Cap
|
| 1-Year S&P 500 Performance Triggered |
Performance Triggered
Annual
|
7.8%
Performance triggered
|
Riders
No Riders for Power Select Advisory annuity.
Waivers
Nursing Home
Market Value Adjustments may be waived if you are confined to a nursing home or an assisted living facility.
Terminal Illness
MVA may be waived for certain withdrawals if the contract owner is diagnosed with a terminal illness.
Extended Care
MVA may be waived for certain withdrawals if the contract owner has extended care needs.
Premium Notes
- 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
Market Value Adjustment (MVA)Withdrawals during the first 7 years are subject to an MVA. This adjustment may either increase or decrease the amount a client receives, and is determined by a formula in the contract that reflects changes in the yield of an external index since the contract was issued. MVA-free withdrawals (non-cumulative)You may withdraw up to 10% of the premium in the first year or up to 10% of the contract value in years 2+ without incurring an MVA.Required Minimum Distributions (RMDs)MVA will not apply to RMDs attributable to the contract. Failure to satisfy the RMD requirements may result in a tax penalty.
- A.M. Best A
- Fitch A+
- S&P A+
- Moody's A2
- Comdex 80
