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Power Select Builder

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.

Corebridge Financial Inc. (AIG)
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Power Select Builder-brochure Power Select Builder-brochure

Power Select Builder

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Ratings:

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

About Product

Type
Fixed Index
Purpose
Accumulation
Term
10 Years
Surrender schedule
9%9%8%7%6%5%4%3%2%1%
Fee withdrawal:
10%
Market Value Adjustment
Yes
Return Of Premium
No x
Minimum Contribution
$25,000
Maximum Contribution
$2,000,000
Max Age Qualified
78
Types Of Funds
Non-Qualified, IRA, Spousal IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, Stretch IRA, Inherited IRA, NQ Stretch, and TSP
Launch Date
03/10/2014
Power Select Builder - Index annuity focusing on asset accumulation with no guaranteed living benefit Rider.
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
4.15% Fixed
2-Year PIMCO Global Optima PTP Participation Rate
Point to Point
Biennial
67% Participation
1-Year Dimensional US Foundations PTP Participation Rate
Point to Point
Annual
135% Participation
2-Year AB All Market PTP Enhanced Participation Rate Tier 2
Point to Point
Biennial
305% Participation
2-Year Dimensional US Foundations PTP Participation Rate
Point to Point
Biennial
205% Participation
2-Year AB All Market PTP Enhanced Participation Rate Tier 1
Point to Point
Biennial
255% Participation
1-Year AB All Market PTP Enhanced Participation Rate Tier 2
Point to Point
Annual
235% Participation
1-Year Dimensional US Foundations PTP Enhanced Participation Rate Tier 1
Point to Point
Annual
185% Participation
1-Year AB All Market PTP Enhanced Participation Rate Tier 1
Point to Point
Annual
185% Participation
1-Year Dimensional US Foundations PTP Enhanced Participation Rate Tier 2
Point to Point
Annual
235% Participation
1-Year AB All Market PTP Participation Rate
Point to Point
Annual
135% Participation
2-Year AB All Market PTP Participation Rate
Point to Point
Biennial
205% Participation
1-Year Russell 2000 PTP Participation Rate
Point to Point
Annual
26% Participation
1-Year S&P 500 PTP Cap
Point to Point
Annual
9% Cap
2-Year Dimensional US Foundations PTP Enhanced Participation Rate Tier 1
Point to Point
Biennial
255% Participation
2-Year S&P 500 PTP Participation Rate
Point to Point
Biennial
36% Participation
2-Year Dimensional US Foundations PTP Enhanced Participation Rate Tier 2
Point to Point
Biennial
305% Participation
1-Year PIMCO Global Optima PTP Participation Rate
Point to Point
Annual
39% Participation
1-Year ML Strategic Balanced PTP Participation Rate
Point to Point
Annual
62% Participation
2-Year ML Strategic Balanced PTP Spread
Point to Point
Biennial
2.15% Spread
1-Year S&P 500 Performance Triggered
Performance Triggered
Annual
6.6% Performance triggered
1-Year Fixed Account
Fixed
4.4% Fixed
1-Year Dimensional US Foundations PTP Enhanced Participation Rate Tier 2
Point to Point
Annual
250% Participation
2-Year Dimensional US Foundations PTP Enhanced Participation Rate Tier 1
Point to Point
Biennial
275% Participation
1-Year Dimensional US Foundations PTP Enhanced Participation Rate Tier 1
Point to Point
Annual
200% Participation
2-Year Dimensional US Foundations PTP Enhanced Participation Rate Tier 2
Point to Point
Biennial
325% Participation
2-Year Dimensional US Foundations PTP Participation Rate
Point to Point
Biennial
225% Participation
1-Year Dimensional US Foundations PTP Participation Rate
Point to Point
Annual
150% Participation
1-Year PIMCO Global Optima PTP Participation Rate
Point to Point
Annual
49% Participation
2-Year AB All Market PTP Enhanced Participation Rate Tier 2
Point to Point
Biennial
325% Participation
2-Year AB All Market PTP Enhanced Participation Rate Tier 1
Point to Point
Biennial
275% Participation
1-Year AB All Market PTP Enhanced Participation Rate Tier 2
Point to Point
Annual
250% Participation
1-Year AB All Market PTP Enhanced Participation Rate Tier 1
Point to Point
Annual
200% Participation
2-Year AB All Market PTP Participation Rate
Point to Point
Biennial
225% Participation
1-Year AB All Market PTP Participation Rate
Point to Point
Annual
150% Participation
1-Year Russell 2000 PTP Participation Rate
Point to Point
Annual
31% Participation
1-Year S&P 500 PTP Cap
Point to Point
Annual
10% Cap
2-Year S&P 500 PTP Participation Rate
Point to Point
Biennial
42% Participation
2-Year PIMCO Global Optima PTP Participation Rate
Point to Point
Biennial
82% Participation
2-Year ML Strategic Balanced PTP Spread
Point to Point
Biennial
1.9% Spread
1-Year ML Strategic Balanced PTP Participation Rate
Point to Point
Annual
87% Participation
1-Year S&P 500 Performance Triggered
Performance Triggered
Annual
7.6% Performance triggered

Surrender schedule

Year 1 2 3 4 5 6 7 8 9 10
Penalty 9% 9% 8% 7% 6% 5% 4% 3% 2% 1%

Riders

No Riders for Power Select Builder annuity.

Waivers

Nursing Home

Withdrawal charges and Market Value Adjustments may be waived if you are confined to a nursing home or an assisted living facility. Restrictions and limitations apply. May not be available in all states.

Terminal Illness

Unavailable in states: CA, MA, and WA

Withdrawal charges and Market Value Adjustments may be waived if you are diagnosed with a terminal illness. Restrictions and limitations apply. May not be available in all states.

Extended Care

Unavailable in states: CA, and MA

Withdrawal charges and Market Value Adjustments may be waived if you have extended care needs. Restrictions and limitations apply. May not be available in all states.

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

Free Withdrawals
After the first contract year, you can withdraw up to 10% of your contract value (based on your prior anniversary value) without incurring any company-imposed charges

Other Corebridge (AIG) Products

American Pathway VisionMYG
American Pathway Fixed 5
Assured Edge Income Achiever
American Pathway Fixed 7
Assured Edge Income Builder

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