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.
Power Select Builder
Ratings:
- A.M. Best A
- Fitch A+
- S&P A+
- Moody's A2
- Comdex 80
About Product
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
- 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
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