Power Select Advisory with Lifetime Income Plus Flex
The Power Select Advisory with Lifetime Income Plus Flex offers a reliable safety net for those golden years. This annuity guarantees an income for life, perfect for retirees wanting peace of mind.
With Power Select Advisory, there's flexibility in managing and growing your hard-earned money. It's savvy, well-rounded, and geared towards maximizing your retirement benefits!
Power Select Advisory with Lifetime Income Plus Flex
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
|
2.5%
Fixed
|
| 1-Year Dimensional US Foundations PTP Participation Rate |
Point to Point
Annual
|
95%
Participation
|
| 1-Year AB All Market PTP Participation Rate |
Point to Point
Annual
|
95%
Participation
|
| 1-Year MSCI EAFE PTP Cap |
Point to Point
Annual
|
4.75%
Cap
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
4.75%
Cap
|
| 1-Year S&P 500 Performance Triggered |
Performance Triggered
Annual
|
2.85%
Performance triggered
|
| 1-Year Fixed Account |
Fixed
|
2.75%
Fixed
|
| 1-Year Dimensional US Foundations PTP Participation Rate |
Point to Point
Annual
|
115%
Participation
|
| 1-Year AB All Market PTP Participation Rate |
Point to Point
Annual
|
115%
Participation
|
| 1-Year MSCI EAFE PTP Cap |
Point to Point
Annual
|
5.5%
Cap
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
5.5%
Cap
|
| 1-Year S&P 500 Performance Triggered |
Performance Triggered
Annual
|
3.6%
Performance triggered
|
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Power Select Advisory Lifetime Income Plus Flex | Yes | 1.10% 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
- 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
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
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