Power Select Builder
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Highlights
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
|
Type
|
Fixed Index |
|---|---|
| Purpose | Accumulation |
|
Term
|
10 Years |
|
Surrender schedule
|
9%9%8%7%6%5%4%3%2%1% |
|
Free withdrawal
|
1st year: 0% 2nd+ year: 10% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Launch date
|
03/10/2014 |
|
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 |
Brochure
|
Open brochure |
Find out if the Power Select Builder 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:
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
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
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
4.65%
Fixed
|
| 2-Year PIMCO Global Optima PTP Participation Rate |
Point to Point
Biennial
|
75%
Participation
|
| 1-Year Dimensional US Foundations PTP Participation Rate |
Point to Point
Annual
|
155%
Participation
|
| 2-Year AB All Market PTP Enhanced Participation Rate Tier 2 |
Point to Point
Biennial
|
335%
Participation
|
| 2-Year Dimensional US Foundations PTP Participation Rate |
Point to Point
Biennial
|
235%
Participation
|
| 2-Year AB All Market PTP Enhanced Participation Rate Tier 1 |
Point to Point
Biennial
|
285%
Participation
|
| 1-Year AB All Market PTP Enhanced Participation Rate Tier 2 |
Point to Point
Annual
|
255%
Participation
|
| 1-Year Dimensional US Foundations PTP Enhanced Participation Rate Tier 1 |
Point to Point
Annual
|
205%
Participation
|
| 1-Year AB All Market PTP Enhanced Participation Rate Tier 1 |
Point to Point
Annual
|
205%
Participation
|
| 1-Year Dimensional US Foundations PTP Enhanced Participation Rate Tier 2 |
Point to Point
Annual
|
255%
Participation
|
| 1-Year AB All Market PTP Participation Rate |
Point to Point
Annual
|
155%
Participation
|
| 2-Year AB All Market PTP Participation Rate |
Point to Point
Biennial
|
235%
Participation
|
| 1-Year Russell 2000 PTP Participation Rate |
Point to Point
Annual
|
30%
Participation
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
10%
Cap
|
| 2-Year Dimensional US Foundations PTP Enhanced Participation Rate Tier 1 |
Point to Point
Biennial
|
285%
Participation
|
| 2-Year S&P 500 PTP Participation Rate |
Point to Point
Biennial
|
44%
Participation
|
| 2-Year Dimensional US Foundations PTP Enhanced Participation Rate Tier 2 |
Point to Point
Biennial
|
335%
Participation
|
| 1-Year PIMCO Global Optima PTP Participation Rate |
Point to Point
Annual
|
45%
Participation
|
| 1-Year ML Strategic Balanced PTP Participation Rate |
Point to Point
Annual
|
70%
Participation
|
| 2-Year ML Strategic Balanced PTP Spread |
Point to Point
Biennial
|
1.5%
Spread
|
| 1-Year S&P 500 Performance Triggered |
Performance Triggered
Annual
|
7.6%
Performance triggered
|
| 1-Year Fixed Account |
Fixed
|
4.9%
Fixed
|
| 1-Year Dimensional US Foundations PTP Enhanced Participation Rate Tier 2 |
Point to Point
Annual
|
270%
Participation
|
| 2-Year Dimensional US Foundations PTP Enhanced Participation Rate Tier 1 |
Point to Point
Biennial
|
305%
Participation
|
| 1-Year Dimensional US Foundations PTP Enhanced Participation Rate Tier 1 |
Point to Point
Annual
|
220%
Participation
|
| 2-Year Dimensional US Foundations PTP Enhanced Participation Rate Tier 2 |
Point to Point
Biennial
|
355%
Participation
|
| 2-Year Dimensional US Foundations PTP Participation Rate |
Point to Point
Biennial
|
255%
Participation
|
| 1-Year Dimensional US Foundations PTP Participation Rate |
Point to Point
Annual
|
170%
Participation
|
| 1-Year PIMCO Global Optima PTP Participation Rate |
Point to Point
Annual
|
55%
Participation
|
| 2-Year AB All Market PTP Enhanced Participation Rate Tier 2 |
Point to Point
Biennial
|
355%
Participation
|
| 2-Year AB All Market PTP Enhanced Participation Rate Tier 1 |
Point to Point
Biennial
|
305%
Participation
|
| 1-Year AB All Market PTP Enhanced Participation Rate Tier 2 |
Point to Point
Annual
|
270%
Participation
|
| 1-Year AB All Market PTP Enhanced Participation Rate Tier 1 |
Point to Point
Annual
|
220%
Participation
|
| 2-Year AB All Market PTP Participation Rate |
Point to Point
Biennial
|
255%
Participation
|
| 1-Year AB All Market PTP Participation Rate |
Point to Point
Annual
|
170%
Participation
|
| 1-Year Russell 2000 PTP Participation Rate |
Point to Point
Annual
|
35%
Participation
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
11%
Cap
|
| 2-Year S&P 500 PTP Participation Rate |
Point to Point
Biennial
|
50%
Participation
|
| 2-Year PIMCO Global Optima PTP Participation Rate |
Point to Point
Biennial
|
90%
Participation
|
| 2-Year ML Strategic Balanced PTP Spread |
Point to Point
Biennial
|
1.25%
Spread
|
| 1-Year ML Strategic Balanced PTP Participation Rate |
Point to Point
Annual
|
95%
Participation
|
| 1-Year S&P 500 Performance Triggered |
Performance Triggered
Annual
|
8.6%
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.
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