Independent Annuity Review AIG Power Select Builder Fixed Index Annuity
| Annuity Info | |
|---|---|
|
AIG - Power Select Builder |
|
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Annuity Type: |
Fixed Index |
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A.M. Best Carrier Rating: |
A |
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Surrender Schedule: |
10 years |
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Included Riders: |
Nursing Home/Terminal Illness Waiver of Surrender (no charge) |
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Optional Riders: |
N/A |
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Premium Bonus: |
N/A |
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Free Withdrawal: |
10% Annual |
Surrender Charge Schedule
| 1st Year | 2nd Year | 3rd Year | 4th Year | 5th Year | 6th Year | 7th Year | 8th Year | 9th Year | 10th Year |
|---|---|---|---|---|---|---|---|---|---|
|
9% |
8% |
7% |
6% |
6% |
5% |
4% |
3% |
2% |
1% |
AIG Power Select Builder: Your Path to Financial Security in Retirement
Different people have different feelings about investing in the stock market. For some, watching the daily ticker is something that they have grown accustomed to doing, and they are comfortable with the ups and downs over the course of the years. Others aren’t the biggest fans of leaving their financial future up to a roller coaster, and they are understandably worried that times of economic downturns could spell doom for their retirement accounts.
If you thought it was stressful to follow the stock market while still working and receiving regular work paychecks, just think about how much more stressful that becomes when you want to rely on it as your primary source of income. When it comes down to it, this is no way to transition away from regular paychecks, especially if you think that a retirement safety net sounds appealing.
Of course, that doesn’t mean that the markets can’t be a part of your life. It just may make more sense to go about things in a safer fashion. And, if strong market growth potential and market downside protection sounds like an odd combination (or maybe like a great deal), it is time to think about what a Fixed Indexed Annuity could do for your financial future. When it comes down to it, having the ability to benefit from positive market returns using index linked crediting strategies while being shielded from times of negative performance can be an ideal position for those entering retirement or currently retired.
Yes, this seemingly impossible combination is very doable when it comes to annuities, Fixed Index Annuities to be specific. To this end, the AIG Power Select Builder fixed index annuity represents a great opportunity to grow your assets in a safe and effective way. See, when the market indexes in the annuity go up, you have the ability to realize strong growth from your money. But, when the markets go down, you are protected from any potential losses. That means you get the opportunity to enjoy your golden years, while not having to worry about every up and down tick of the market.
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Understanding the AIG Power Select Builder
The AIG Power Select Builder offers two ways to grow your money – diverse index interest crediting strategies, and one-year fixed accounts. And, with strong index options available to invest your assets, such as the ML Strategic Balanced Index, AB All Market Index, PIMCO Global Optima, S&P 500, and Russell 2000, you can feel good about the potential of growing your assets. All it takes is a quick comparison to see why this kind of annuity provides stronger growth than other reliable financial tools (such as money markets, CDs, bonds, etc), and safer growth than the traditional stock market approach.
In the AIG Power Select Builder, your interest is based off of index performance from the 1 or 2-year approach that you select. Then, any caps, participation rates, spreads, and other established contract variables are factored. This is why it is so important to narrow down the best option available to address your unique needs and goals by working with a fiduciary advisor that understands your situation and more importantly is an expert in annuities.
While the AIG Power Select Builder brings a lot of good things to the table, it is important to understand that it is not right for everyone. Although this particular annuity does allow access to money for those who are diagnosed with a terminal illness, or those who end up with extended long-term care needs, there are other annuities that provide a bigger boost through the form of an enhanced income option. Additionally, while this annuity does have a death benefit for designated beneficiaries, there are other annuities that prioritize legacy planning in a more powerful way through the use of a death benefit rider sometimes paying a higher amount if elected. Finally, there may be other annuities out there with stronger participation rates and indexed growth opportunities available, for those who are looking for a pure safe accumulation vehicle. We recommend using our comparison report below to discover how other annuities rank against the AIG Power Select Builder fixed index annuity.
Overall, the AIG Power Select is a solid accumulation focused annuity with the attractive ML Strategic Balanced Index, where you can really grow your assets in a safe and effective way. If you would like to see better results than your savings account, while also allowing index-linked performance to safely grow your assets, it may be worth seeing if the AIG Power Builder Select fits in with your long-term plans.
What We Like
- ML Strategic Balanced Index AIG’s Power Select Builder offers a competitive index crediting strategy using this index which has performed quite well amongst competitive offerings.
- Competitive Spread Offering Currently, the top index crediting option available is the ML Strategic Balanced Index with a 0.95% spread making the growth potential strong.
- Strong Renewal Rate History Overall, 99% of renewal rates were better, the same, or no worse than 0.50% from their initial rates.
What Can Be Improved
- Participation Rates/Index Strategy compared to other comparable Fixed Index Annuities, the participation rates and index options offered are average at best.
- No Enhanced Payout Option for LTC
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Company Info
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