Power Select Advisory with Lifetime Income Plus Mu

Power Select Advisory with Lifetime Income Plus Multiplier Flex Review

Retirement planning demands careful consideration of various options. One product that might fit your needs is the Power Select Advisory with Lifetime Income Plus Multiplier Flex annuity.

This plan offers a unique mix of features designed to enhance your retirement strategy, including growth opportunities, reliable income guarantees, and flexible terms. To determine if this annuity is the right choice for you, we'll explore its benefits, risks, performance, and other key aspects.

Let’s break down what you need to know to make an informed decision about integrating this annuity into your retirement plan.

About American International Group (AIG)

American International Group (AIG) is a leading global insurance and financial services company with a long history of providing innovative solutions. Known for its diverse range of insurance products and financial services, AIG offers the Power Select Advisory with Lifetime Income Plus Multiplier Flex.

This annuity is designed to help individuals secure their retirement with features that include growth potential, income guarantees, and flexibility.

American General Life Insurance Company Rating

Rating Company

Rating

Moody’s

S & P

A+

A.M. Best Rating

Comdex

Product Highlights

Income Guarantees

Power Select Advisory allows you to grow your retirement assets by receiving potential interest from an index interest account. These are commonly based partly on the performance of the AB All market index, the S&P 500, MSCI EAFE, and the Dimensional US Foundations Index.
Growth Potential

This annuity includes growth potential through market-linked investments. By tying your returns to market performance, it allows you to benefit from potential upsides while managing risk. This feature helps maximize your investment over time, potentially increasing the value of your annuity.
Multiplier Flex

The Multiplier Flex feature enhances your income based on investment performance. This flexible multiplier adjusts according to the growth of your investments, providing the potential for increased payouts. It aligns your income with the success of your investment strategy.
Flexible Contributions

With flexible contribution options, the Power Select Advisory adapts to various financial situations and goals. You can adjust your contributions as needed, allowing for greater control over your investment and adapting to changes in your financial circumstances.
Optional Riders

The annuity offers a range of optional riders that can be added to tailor the product to your specific needs. These riders can provide additional benefits, such as enhanced income options or long-term care coverage, making the annuity more versatile and suited to your personal requirements.
Tax-Deferred Growth

The Power Select Advisory with Lifetime Income Plus Multiplier Flex features tax-deferred growth, meaning that your investment's earnings are not subject to taxes until you begin withdrawals.

This feature allows your investment to grow without being diminished by taxes each year, potentially leading to more significant overall growth.
Surrender Options

The Power Select Advisory includes a defined surrender schedule with options for early withdrawal. While early withdrawals may incur penalties, this feature provides flexibility in accessing your funds if needed, offering a balance between liquidity and long-term growth.
Spousal Benefits

The annuity includes options for spousal benefits, ensuring that your partner continues to receive income protection after your passing. This feature provides additional security for your loved ones, ensuring that they benefit from the financial stability provided by the annuity.

Power Select Advisory with Lifetime Income Plus Multiplier Flex Overview

🔔 Important Information

Annuity Term

10 Years

Type of Annuity

Fixed Index

Withdrawal Surrender Charge

No Surrender Charge

Premium Type

Flexible

Maximum Issue Age

Minimum Premium

Maximum Premium

$25,000

$2,000,000

RMD

Yes

Market Value Adjustment

Yes

Power Select Advisory with Lifetime Income Plus Multiplier Flex Historical Rate of Return

The historical Power Select Advisory with Lifetime Income Plus Multiplier Flex performance varies depending on the chosen index and crediting method. Typically, the returns are linked to indices like the S&P 500, NASDAQ-100, and MSCI EAFE. Historical data indicates fluctuations based on market conditions and the specific method used to calculate returns.

What's not reflected:
The historical data does not account for all influencing factors, such as market volatility, changes in index methodologies, or adjustments in crediting methods. Additionally, past performance does not guarantee future results.

Notes on rates:
Returns can be affected by changes in market conditions and the performance of selected indices. The crediting methods impact how returns are calculated and may change over time.

No guarantees:

There are no guarantees regarding future performance. Returns are based on the performance of selected indices and crediting methods, and the value of the investment can fluctuate with market conditions.

Fees and Charges

First Year Withdrawals: No charges
Years 2+ Withdrawals: Up to 10% of the contract value annually free of charges
RMD Friendly: Yes
Penalty Waivers: ADL-based, Death, Extended Care, Terminal Illness

Index Options

S&P 500 Index
NASDAQ-100 Index

MSCI EAFE Index

Barclays U.S. Aggregate Bond Index

Crediting Methods

The Power Select Advisory with Lifetime Income Plus Multiplier Flex typically uses the following index crediting methods:

Annual Point-to-Point: Measures the change in the index value from the beginning to the end of the year to determine the annual interest credit.
Monthly Point-to-Point: Calculates the index change from the start to the end of each month, with the average of these monthly changes determining the interest credit for the year.
Daily Averaging: Computes returns based on the average daily index values over a specified period, smoothing out fluctuations to provide a more stable interest credit.

Annuity Surrender Schedule

The Power Select Advisory with Lifetime Income Plus Multiplier Flex surrender charge is nonexistent. The product does not include a surrender charge, allowing withdrawals and contract termination without penalties.

Power Select Advisory with Lifetime Income Plus Multiplier Flex Pros and Cons

It’s important to consider Power Select Advisory with Lifetime Income Plus Multiplier Flex advantages and disadvantages before making a decision.

Flexible withdrawals of up to 10% annually after the first year
No surrender charges for withdrawals in the first year
Penalty waivers for ADL, death, extended care, and terminal illness
Tax-deferred growth to enhance investment growth
Variety of index options and crediting methods for customization
Lifetime income guarantee for consistent retirement income

Variable returns based on index performance
Potential administrative and rider fees
Complexity in understanding crediting methods
No guaranteed returns, with value subject to market fluctuations

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 Select Advisory with Lifetime Income Plus Multiplier Flex benefits include a range of features designed to enhance retirement planning. This annuity offers flexible income options, tax-deferred growth, and a lifetime income guarantee.

Key features such as flexible withdrawals of up to 10% annually after the first year and penalty waivers for specific conditions make it a compelling choice for many.

To determine if this product is the right fit for you, consider its benefits and any potential drawbacks. Understanding these aspects will help you make an informed decision about incorporating this annuity into your retirement strategy.

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About American International Group (AIG)

Fees and Charges

Index Options

Crediting Methods

Annuity Surrender Schedule

Company Information

Other Products

Key Takeaways