AIG Power Select Builder 8 – Now Available in CT, LA, MO, OH, OR, PA & WA

February 19 2019

by Connor Wilson - Sales Specialist

AIG and the Market Synergy Group are pleased to announce the launch of a new solution – The Power Select Builder 8SM Index Annuity – in the Power Select Index Annuities family to help clients build their confidence in growing and protecting their retirement savings. This new annuity will be available on and after February 18, 2019.

Power Select Builder 8 offers clients:

  • 6 Index Interest Accounts based on the performance of the S&P 500® Index, PIMCO Global Optima Index™, or the ML Strategic Balanced Index® with NEW index terms and interest crediting options
  • Guaranteed Interest with a 1-Year Fixed Rate Account 
  • 4% Premium Enhancement on all premiums1
  • 5% Free Withdrawals of previous contract year’s value (starting year 2)
  • Protection from market downturns2
  • Tax Deferral on interest that remains in the annuity
  • 8-Year Declining surrender charge schedule

 

New Account Options for Power Select Builder® and Power Select Plus Income®

New index accounts are also available in Power Select Builder® and Power Select Plus Income® with new index terms and interest crediting options. Use the link to the right to view the Index Interest Accounts At-A-Glance Flyer.

 

Contact us today about these new accumulation solutions for your client’s retirement! 800.992.2642

 

 

The Power Select Index Annuities are issued by American General Life Insurance Company. All guarantees are backed by the claims-paying ability of the issuing insurance company, not AIG. 1Premium Enhancement is 3% in select states and is also subject to an 8-year declining premium enhancement recapture schedule 2Principal will be reduced by withdrawals 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 clients. Withdrawals may be subject to federal and/or state income taxes. An additional 10% federal tax may apply if clients make withdrawals or surrender their annuity before age 59½. Tax-qualified plans such as IRAs, 401(k)s or 403(b) plans are tax deferred regardless of whether or not they are funded with an annuity. If you use Power Select Builder 8 to fund a tax-qualified plan, you should know that an annuity does not provide any additional tax-deferred treatment of interest beyond the treatment by the tax-qualified plan itself. You should only use an index annuity in a tax-qualified plan if you want to benefit from features other than tax deferral. If you intend to take Required Minimum Distributions (RMDs), please consult with a tax advisor concerning your particular circumstances. Power Select Builder 8 may not be appropriate for use with contributory plans if you plan to make ongoing contributions. The S&P 500® Index is a product of S&P Dow Jones Indices LLC ("SPDJI"), and has been licensed for use by American General Life Insurance Company ("AGL") and affiliates. Standard & Poor’s,® S&P,® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by AGL and affiliates. AGL and affiliates’ products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or their respective affiliates, and none of such parties make any representation regarding the advisability of purchasing such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500® Index. AGL’s licensing relationship with Merrill Lynch, Pierce, Fenner & Smith Incorporated for use of the ML Strategic Balanced Index® (the "Index") and for use of certain service marks includes AGL’s purchase of financial instruments for purposes of meeting its interest crediting obligations. Some portion of those instruments will, or may be, purchased from Merrill Lynch, Pierce, Fenner & Smith Incorporated or its affiliates. Merrill Lynch, Pierce, Fenner & Smith Incorporated and its affiliates ("BofA Merrill Lynch") indices and related information, the name "BofA Merrill Lynch", and related trademarks, are intellectual property licensed from BofA Merrill Lynch, and may not be copied, used, or distributed without BofA Merrill Lynch’s prior written approval. The products of licensee AGL have not been passed on as to their legality or suitability, and are not regulated, issued, endorsed, sold, guaranteed, or promoted by BofA Merrill Lynch. BOFA MERRILL LYNCH MAKES NO WARRANTIES AND BEARS NO LIABILITY WITH RESPECT TO ANY INDEX, ANY RELATED INFORMATION, ITS TRADEMARKS, OR THE PRODUCT(S) (INCLUDING WITHOUT LIMITATION, ITS QUALITY, ACCURACY, SUITABILITY AND/OR COMPLETENESS). The Index is the property of Merrill Lynch, Pierce, Fenner & Smith Incorporated, which has contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) to calculate and maintain the Index. The Index is not sponsored by S&P Dow Jones Indices or its affiliates or its third party licensors (collectively, "S&P Dow Jones Indices"). S&P Dow Jones Indices will not be liable for any errors or omissions in calculating the Index. "Calculated by S&P Dow Jones Indices" and the related stylized mark(s) are service marks of S&P Dow Jones Indices and have been licensed for use by Merrill Lynch, Pierce, Fenner & Smith Incorporated. The PIMCO Global Optima Index(the "Index") is a comprehensive equity and bond index, offering exposure to global equity and U.S. fixed income markets. The Index is a trademark of Pacific Investment Management Company LLC ("PIMCO") and has been licensed for use for certain purposes by AGL with the Power Series of Index Annuities (the "Product"). The Index is the exclusive property of PIMCO and is made and compiled without regard to the needs, including, but not limited to, the suitability or appropriateness needs, as applicable, of AGL, the Product, or owners of the Product. The Product is not sold, sponsored, endorsed or promoted by PIMCO or any other party involved in, or related to, making or compiling the Index. PIMCO does not provide investment advice to AGL with respect to the Product or to owners of the Product. Neither PIMCO nor any other party involved in, or related to, making or compiling the Index has any obligation to continue to provide the Index to AGL with respect to the Product. Neither PIMCO nor any other party involved in, or related to, making or compiling the Index makes any representation regarding the Index, Index information, performance, annuities generally or the Product particularly. Index annuities are issued by American General Life Insurance Company (AGL), 2727-A Allen Parkway, Houston, Texas 77019. AGL is a member of the American International Group, Inc. (AIG) family of financial services companies. AIG is a leading international insurance organization serving customers in more than 80 countries and jurisdictions. Its companies are among the nation’s top providers of property and casualty insurance, life insurance and retirement products. The underwriting risks, financial and contractual obligations and support functions associated with the annuities issued by AGL are its responsibility. AGL does not solicit business in the state of New York. Annuities and riders may vary by state and are not available in all states. ©2019 American International Group, Inc. All rights reserved. For agent use only. Not to be used with the public. I5947EM4 (2/19)

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