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Power Select Plus Income - Lifetime Income Plus Multiplier Flex

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Learn how an annuity can provide guaranteed income for life.

Highlights

Power Select Plus Income Multiplier - Index annuity focusing on retirement income with choice of guaranteed living benefit riders.
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
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, and TSP
Brochure
 Open brochure

Find out if the Power Select Plus Income - 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.

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.

Allocation Accounts

Name Type Rates
1-Year Fixed Account
Fixed
1.9% Fixed
2-Year S&P 500 PTP Participation Rate
Point to Point
Biennial
22% Participation
1-Year AB All Market PTP Participation Rate with Spread
Point to Point
Annual
115% Participation
0.5% Spread
2-Year AB All Market PTP Participation Rate with Spread
Point to Point
Biennial
155% Participation
0.5% Spread
1-Year Russell 2000 PTP Participation Rate
Point to Point
Annual
15% Participation
2-Year Dimensional US Foundations PTP Participation Rate with Spread
Point to Point
Biennial
155% Participation
0.5% Spread
1-Year Dimensional US Foundations PTP Participation Rate with Spread
Point to Point
Annual
115% Participation
0.5% Spread
1-Year S&P 500 PTP Cap
Point to Point
Annual
4% Cap
1-Year PIMCO Global Optima PTP Participation Rate
Point to Point
Annual
30% Participation
1-Year ML Strategic Balanced PTP Participation Rate
Point to Point
Annual
53% Participation
2-Year ML Strategic Balanced PTP Spread
Point to Point
Biennial
1.95% Spread
2-Year PIMCO Global Optima PTP Participation Rate
Point to Point
Biennial
38% Participation
1-Year S&P 500 Performance Triggered
Performance Triggered
Annual
2.35% Performance triggered
1-Year Fixed Account
Fixed
2.15% Fixed
1-Year Dimensional US Foundations PTP Participation Rate with Spread
Point to Point
Annual
135% Participation
0.5% Spread
2-Year Dimensional US Foundations PTP Participation Rate with Spread
Point to Point
Biennial
175% Participation
0.5% Spread
2-Year AB All Market PTP Participation Rate with Spread
Point to Point
Biennial
175% Participation
0.5% Spread
2-Year S&P 500 PTP Participation Rate
Point to Point
Biennial
26% Participation
1-Year AB All Market PTP Participation Rate with Spread
Point to Point
Annual
135% Participation
0.5% Spread
1-Year Russell 2000 PTP Participation Rate
Point to Point
Annual
20% Participation
2-Year PIMCO Global Optima PTP Participation Rate
Point to Point
Biennial
53% Participation
2-Year ML Strategic Balanced PTP Spread
Point to Point
Biennial
1.7% Spread
1-Year ML Strategic Balanced PTP Participation Rate
Point to Point
Annual
78% Participation
1-Year PIMCO Global Optima PTP Participation Rate
Point to Point
Annual
43% Participation
1-Year S&P 500 PTP Cap
Point to Point
Annual
4.75% Cap
1-Year S&P 500 Performance Triggered
Performance Triggered
Annual
3.1% 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

Name Inbuilt Fee
Lifetime Income Plus Multiplier Flex Yes 1.10% annually

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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