Ratings:

A.M. Best A
Fitch A+
S&P A+
Moody's A2
Comdex 80

James Alden

Experienced Financial Advisor

25 years

experience

3,712

career consultations

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Power Select Advisory with Lifetime Income Plus Flex

Corebridge Financial Inc. (AIG NY), formerly known as AIG Retirement Services, has undergone a transformative journey to become one of today’s leaders in the provision of annuities, life insurance, asset management, and retirement solutions. Established in 1926 under a different name (American General Insurance Company), the company has grown exponentially in the past decades to provide its industry-leading products and services. Their mission is to partner with financial professionals, institutions, and individuals by way of aiding their clientele to seize control over their finances in retirement. With a diverse customer base, the company has served as a spin-off to the American International Group (AIG) in recent years, marking its evolution into an independent, publicly traded entity.

Power Select Advisory with Lifetime Income Plus Flex

Your Email

Ratings:

A.M. Best A
Fitch A+
S&P A+
Moody's A2
Comdex 80

About Product

Type

Fixed Index

Purpose

Lifetime Income

Surrender schedule

No Surrender Charge

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, IRA, Spousal IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, and TSP

Launch Date

03/13/2023

Power Select Advisory is part of the Power Series of Index Annuities and a fixed index annuity (FIA) issued by American General Life Insurance Company (AGL).
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.

In addition, Power Select Advisory offers clients a choice of two optional guaranteed living benefit riders—Lifetime Income Plus Flex. and Lifetime Income Plus Multiplier Flex. Each guaranteed living benefit rider can help clients generate more income for life.

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	2.65% Fixed
1-Year Dimensional US Foundations PTP Participation Rate	Point to Point Annual	100% Participation
1-Year AB All Market PTP Participation Rate	Point to Point Annual	100% Participation
1-Year MSCI EAFE PTP Cap	Point to Point Annual	5% Cap
1-Year S&P 500 PTP Cap	Point to Point Annual	5% Cap
1-Year S&P 500 Performance Triggered	Performance Triggered Annual	3.05% Performance triggered
1-Year Fixed Account	Fixed	2.9% 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	5.75% Cap
1-Year S&P 500 PTP Cap	Point to Point Annual	5.75% Cap
1-Year S&P 500 Performance Triggered	Performance Triggered Annual	3.8% Performance triggered

Riders

Name	Inbuilt	Fee
Power Select Advisory Lifetime Income Plus Flex	Yes	1.00% annually

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

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

If your state imposes a premium tax and unless otherwise provided by law, it will be deducted from the amount applied to begin your income plan when you annuitize your contract.

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

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.