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6.25%
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6.50%
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5.85%
10-Year
5.80%

Power Select Advisory with Lifetime Income Plus Multiplier Flex

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Highlights

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
Type
Fixed Index
Purpose Lifetime Income
Surrender schedule
No Surrender Charge
Free withdrawal
10%
Market value adjustment
Return of premium
Launch date
03/13/2023
Minimum contribution
$25,000
Maximum contribution
$2,000,000
Max Age Qualified
80
Types of funds
Non-Qualified, IRA, Spousal IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, and TSP
Brochure
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Find out if the Power Select Advisory with Lifetime Income Plus Multiplier Flex is the right product for you.

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. 

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
70% Participation
1-Year AB All Market PTP Participation Rate
Point to Point
Annual
70% 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
2.65% Performance triggered
1-Year Fixed Account
Fixed
2.75% Fixed
1-Year Dimensional US Foundations PTP Participation Rate
Point to Point
Annual
90% Participation
1-Year AB All Market PTP Participation Rate
Point to Point
Annual
90% 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
3.4% Performance triggered

Surrender schedule

Year
Penalty

Riders

Name Inbuilt Fee
Power Select Advisory Lifetime Income Plus Multiplier 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.

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