Power Index Premier NY

Power Index Premier NY annuity is a dependable choice for future planning. It guarantees steady income streams, protecting you from market drops. It truly feels like a safety net!

Moreover, it gives potential for growth through index-linked interest. Your golden years can shine brighter with the Power Index Premier NY annuity!

Corebridge Financial Inc. of New York
Power Index Premier NY-brochure Power Index Premier NY-brochure

Power Index Premier NY

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Ratings:

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

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About Product

Type
Fixed Index
Purpose
Accumulation
Term
7 Years
Surrender schedule
9%8%7%6%5%4%3%
Fee withdrawal:
10%
Market Value Adjustment
No
Return Of Premium
No
Minimum Contribution
$25,000
Maximum Contribution
$2,000,000
Max Age Qualified
85
Types Of Funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, Stretch IRA, Inherited IRA, NQ Stretch, and TSP
Launch Date
10/13/2020
The Power Index Premier NY index annuity is for clients looking for an opportunity to participate in interest earned based on the positive change in an index, while also addressing risk for retirement income. And being one of the only index annuity products available in New York with an income protection feature, the new Power Index Premier NY can be the retirement solution that may help to secure a stream of guaranteed lifetime income for your Financial Professional’s clients.
Available in states: NY

Allocation Accounts

Name Type Rates
1-Year S&P 500 PTP Cap
Point to Point
Annual
6.5% Cap
1-Year Russell 2000 PTP Cap
Point to Point
Annual
6.5% Cap
1-Year MSCI EAFE PTP Cap
Point to Point
Annual
6.5% Cap
1-Year S&P 500 PTP Cap
Point to Point
Annual
7.5% Cap
1-Year Russell 2000 PTP Cap
Point to Point
Annual
7.5% Cap
1-Year MSCI EAFE PTP Cap
Point to Point
Annual
7.5% Cap
1-Year S&P 500 Performance Triggered
Performance Triggered
Annual
5% Performance triggered
1-Year S&P 500 Performance Triggered
Performance Triggered
Annual
6% Performance triggered

Surrender schedule

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

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Riders

No Riders for Power Index Premier NY annuity.

Waivers

Nursing Home

Withdrawal Charges and MVA may be waived if you are confined to a nursing home or an assisted living facility. Restrictions and limitations apply.

Terminal Illness

Withdrawal Charges and MVA may be waived if you are diagnosed with a terminal illness. Restrictions and limitations apply. 

Extended Care

Withdrawal Charges and MVA may be waived if you have extended care needs. Restrictions and limitations apply.

Premium Notes

Notes: 
  • 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.
  • a non-New York resident may purchase Power Index Premier NY as long as purchasing the annuity was not the sole purpose for them being in the state and as long as the policy is delivered in New York.

Withdrawal Provisions

Penalty-Free withdrawals
After the first contract year, you are allowed to withdraw up to 10% of the contract value as of the preceding contract anniversary, without any withdrawal charges. You may not carry over the unused portion of the penalty-free withdrawal amount to the next contract year.
 
RMDs
All withdrawals will reduce your contract value. Withdrawal Charges will not apply to RMDs attributable to the contract. RMDs count against the 10% FW Amount and the Guaranteed Lifetime Income Amount (if the Lifetime Income Builder GLB rider is elected).

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