Power Select Advisory With Lifetime Income Plus Fl

Power Select Advisory With Lifetime Income Plus Flex Review

Retiring can be an exciting moment for you if you have the right tools in place. With the best annuity fund, you can travel the world or sit quietly and comfortably at home. Whatever vision you may have in mind for your retirement, planning helps you secure the lifestyle you want in the future. The Power Select Advisory With Lifetime Income Plus Flex is a deferred fixed index annuity issued by American International Group (AIG). This Power Index Advisory With Lifetime Income Plus Flex review will give you more information to see if this annuity is the right choice for you to secure the future you want

About American International Group (AIG)

American International Group (AIG) is a North American company that offers several annuities, including the Power Select Advisory With Lifetime Income Plus Flex, to its clients. It is a big and popular insurance company worldwide, with a history dating back to 1919. AIG is the leading provider of life insurance, property insurance, and retirement products, among other financial services.

American General Life Insurance Company Rating

Rating Company

Rating

Moody’s

A2

S & P

A+

A.M. Best Rating

A3

Comdex

80

Power Select Advisory With Lifetime Income Plus Flex Highlights

Accumulation and Income

The Power Index Advisory With Lifetime Income Plus Flex works in two stages: accumulation and income. In accumulation, your premium gives you the opportunity to earn interest. With income, the company you register with will make regular payments that can last a lifetime. These payments can also be made to last for a time chosen by you, known as annuitization.
Guaranteed Living Benefit Riders

These riders give the client the option of a 10-year income or more.

On the living benefit rider, you can take lifetime withdrawals up to 7.25% of the income credit base. The income credit base is an amount initially equal to your premiums and has the opportunity to increase guaranteed, including the interest earned in your annuity. The maximum percentage you can withdraw yearly depends on your age at your first withdrawal. Once the withdrawals begin, the rate is set for life.
Growing Your Retirement Assets

Growing your retirement assets requires overcoming low interest rates, and the Power Select Advisory With Lifetime Income Plus Flex offers growth potential through its diverse index interest accounts. These accounts may not generate income in all years, but when they do, they provide higher interest than traditional fixed-income instruments. Additionally, it offers confidence and security through its one-year fixed-rate account
Overcoming Key Retirement Challenges

The Power Index Advisory With Lifetime Income Plus Flex performance instruments protects your income against market downturns. Markets commonly have a significant impact on retirement assets. This annuity has instruments that can protect your portfolio from losses of 20% or more in an unexpected market downturn
Protecting Your Principal
The Power Select Advisory With Lifetime Income Plus Flex protects your principal from any market losses. It does this by:
Ensuring no loss of your principal in any market fluctuations. It will only reduce the contract value by the Living Benefit Rider fee and any withdrawals.
- Ensuring no loss of earned interest by locking into the contract. This means the Principal will not fluctuate in volatile times. This system is known as the power of zero.
- Additionally, the Power Select Advisory With Lifetime Income Plus Flex allows you access to your money in times of illness or need. It also offers beneficiary protection, guaranteed living benefit rider cancellation, cash surrender value, tax deferral, and free withdrawals after the first contract year.

Power Select Advisory With Lifetime Income Plus Flex Annuity Overview

🔔 Important Information

Annuity Term

10 Years

Type of Annuity

Fixed Index

Interest

10%

Premium Type

Flexible

Maximum Issue Age

78

Minimum Premium

$25,000

Maximum Premium

$2,000,000

RMD / Market Value Adjustment

Yes

Withdrawal Charge Schedule

10%, 9%, 8%, 7%, 6%, 5%, 4%, 3%, 2%, 1%, 0%

Power Select Advisory With Lifetime Income Plus Flex Historical Rate of Return

The hypothetical historical performance provided herein showcases the annualized return of allocation strategies, representing the investment's annual growth rate considering compounding effects. Similar analyses can be found for each account in official fixed index annuity illustrations provided by insurance carriers.

What's not reflected:
The annualized return does not encompass rider charges, strategy fees, or applicable premium bonuses.

Notes on rates:
The information presented assumes the annuities' current caps, spreads, participation rates, and other related rates, without guarantee.

No guarantees:
These actual elements are subject to change over time, resulting in potentially higher or lower outcomes. Additionally, no single index consistently outperforms in every scenario. It is advisable to consult with a properly licensed and educated annuity professional before making any decisions.

Fees and Charges

First-Year Withdrawals: No charges
Years 2+ Withdrawals: 10%
RMD Friendly: Yes
Penalty Waivers: ADL-based, Death, Extended Care and Terminal Illness

Index Options

Allianz Life allows clients to choose from three index options while potentially receiving interest:

S&P 500 Index (without dividends)
PIMCO Global Optima Index
ML Strategic Balanced Index

Crediting Methods

Credit methods are the mathematical formulas that assist with determining how much index interest the annuity receives based on index changes at the crediting period. Power Select Advisory With Lifetime Income Plus Flex beneficiaries can choose from the following crediting methods:

Annual Point-to-Point (Index rate cap)
Account 2-Year Point-to-Point
Participation Rate
Participation Rate 1-Year Fixed
Participation Rate 2-Year Point-to-Point (Spread) 2-Year Point-to-Point (Spread)

Annuity Surrender Charge Schedule

Like most annuities, the Power Select Advisory With Lifetime Income Plus Flex has penalties for any early withdrawals on an annuity contract. These are known as surrender charges.

Here’s the Power Index Advisory With Lifetime Income Plus Flex surrender schedule:

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

Power Select Advisory With Lifetime Income Plus Flex Key Features

Premium

The minimum initial premium is $25,000 for both qualified and non-qualified. If the state you're in has a premium tax by law, the amount will be deducted from the amount added when beginning your income plan upon annuitizing your contract. All TSP funds must be rolled into an IRA.

Waivers

Market value adjustments and withdrawal charges may be waived if you're confined to a nursing home or an assisted living facility. This option may also not be available in all states
Market value adjustments and withdrawal charges may also be eliminated if you’re terminally ill or require extended care.
Please note that the waivers may not apply in all states, so it's essential to check with your state.

Withdrawal Provisions

The Power Index Advisory With Lifetime Income Plus Flex has free withdrawals. You can withdraw up to 10% of the contract value based on the anniversary value without incurring any charges.

Power Select Advisory With Lifetime INcome Plus Flex Pros and Cons

Offers excellent benefits for future lifetime incom
Principal protection
Offers 3 market indexes
Flexible Premiums
No market value adjustments on withdrawals in case of any of the waiver

Withdrawals in excess of the free withdrawal amount will be subject to a withdrawal charge
The initial minimum premium is $25,000, which may be too high for some clients

Other Products

American General Life Insurance Company, an AIG member company, offers a variety of annuity products, including

Power 7 Protector

This is a multi-year annuity with a death benefit guarantee and potential for growth over a 7-year term

Read Review

Power 7 Protector Plus Income

This annuity combines the features of the Power 7 Protector with guaranteed income payments throughout the 7-year term.

Read Review

Power Index Advisory

This product links your annuity's growth potential to a market index, offering growth potential while protecting your principal.

Read Review

Key Takeaways

The Power Index Advisory With Lifetime Income Plus Flex benefits is an excellent option if you want an income guaranteed for life. Lifetime Income Plus Flex also ensures that the retirement income increases in the first 10 contract years without withdrawals.

The Power Select Advisory With Lifetime Income Plus Flex also gives you the flexibility to withdraw without impacting your future guaranteed income credits. This means you have the flexibility to withdraw without affecting your future income. All withdrawals are subject to the terms of the rider.

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About American International Group (AIG)

Fees and Charges

Index Options

Crediting Methods

Annuity Surrender Charge Schedule

Company Information

Other Products

Key Takeaways