AIG Subsidiary Expands Its Index Annuities Distribution
AIG Subsidiary Expands Its Distribution of Index Annuities
The Power Advantage 7? and Power Advantage 10? Index Annuities, tailored exclusively for Primerica and issued by AGL, combine principal protection, growth potential and tax deferral. They also provide lifetime income that can be guaranteed to rise for up to 10 contract years through the Lifetime Income Plus® guaranteed living benefit rider.
“For nearly 40 years, Primerica has been helping middle income families throughout
“With more than 98,000 licensed insurance reps nationwide,” continued Conlin-Chrysoulakis, “partnering with Primerica will allow us to offer principal protection, growth potential and guaranteed lifetime income to clients whom we’ve had limited access to in the past. These are all important benefits that can be provided through our Power Advantage 7 and Power Advantage 10 products.”
“We continue to broaden the investment and savings solutions we offer to our clients,” said
For asset accumulation, the Power Advantage 7 and Power Advantage 10 Index Annuities offer a range of index interest crediting strategies and a fixed interest account. Through the Lifetime Income Plus optional guaranteed living benefit rider, available for an annual fee, these annuities also provide lifetime income that is guaranteed to rise for up to 10 contract years, as long as withdrawals are taken according to the rider’s terms. In addition, individuals have the opportunity to double their retirement income potential under the rider if no withdrawals are taken before the 10th contract anniversary. Guarantees are backed by the claims-paying ability of AGL.
“With continuing concerns about low interest rates and market volatility, many individuals are looking for products that can help protect their principal, while ensuring that their retirement income will rise and last for life,” said
Annuities are issued by
2727-A
Contract Numbers: Power Advantage 7 and Power Advantage 10 Modified Single Premium Deferred Fixed Index Annuities,
Rider Form Numbers: Market Value Adjustment (MVA) Rider, Form Number AGE-8000 (12/12); Premium Enhancement Rider, Form Number AGE-8001 (12/12); Lifetime Income Plus Optional Guaranteed Living Benefit Rider, Form Number AGE-8002 (9/13); Annual Point-to-Point Index Interest Account Rider, Form Number AGE-8003 (12/12);
The underwriting risks, financial and contractual obligations and support functions associated with products issued by
Index annuities are not a direct investment in the stock market. They are long-term insurance products with guarantees backed by the claims-paying ability of the issuing insurance company. They provide the potential for interest to be credited based in part on the performance of the specified index, without the risk of loss of premium due to market downturns or fluctuations. Index annuities may not be suitable or appropriate for all individuals.
Withdrawals may be subject to withdrawal charges. Withdrawals may also be subject to federal and/or state income taxes. An additional 10% federal tax may apply if individuals make withdrawals or surrender their annuity before age 59½.
Lifetime Income Plus is an optional guaranteed living benefit rider available with Power Advantage 7 and Power Advantage 10 for an annual fee of 0.95% of the Income Base. The rider fee may differ by state. The Income Base is the value on which guaranteed withdrawals are based; it is not used in the calculation of the contract value or any other benefits under the contract, and cannot be withdrawn partially or in a lump sum.
Additional information about AIG can be found at www.aig.com | YouTube: www.youtube.com/aig | Twitter: @AIG_LatestNews | LinkedIn: http://www.linkedin.com/company/aig
AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of
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