American General Life
25000
company Information
Company Name
American General Life
product Name
power7protectorplusincomebrochure.pdf
Description
American General Life Insurance Company is a division of American International Group. American International Group is known as AIG. AIG is a global insurance company that does business in over 80 countries.
am best rating
A2 Good (6th of 21 ratings)
Product Type
Index annuities are for conservative investors who like safety. They were introduced in 1995 to compete with bank CDs.
Index annuities are fixed annuities that deliver fixed income type of returns.
They don’t have the upside or downside of the market. They compete with bonds, CDs, and other safer investments.
They allow you to capture some of the growth of a market index while having 100% downside protection. Returns are linked to a positive performance in an external index.
You are not directly participating in the market. You are watching the market, and a formula decides how much gain of the index you receive.
Product description
Power 7 Protector Plus Income
term
7 Years
minimum investment
$ 1,000,000
maximum investment
$ 80
maximum age
After the first contract year, you can withdraw up to 10% of the account balance penalty-free.
withdrawal allowance
Withdrawals are Permitted
what we like
- No
what we don’t like
- 7
- or -
Surrender Charge Schedule
Surrender charges are a penalty charged to early withdrawals of annuity contract. They are a percentage of the withdrawal amount, decrease over time, and go to zero when the term ends.
percentage charged to withdrawal
market-value adjustment (MVA)
A market value adjustment is basically an additional charge or credit for taking money out early from an annuity.
They allow companies to pay a higher rate and make longer-term investments.
MVAs only affect you if you withdraw funds early. If you own the contract to maturity, they do not apply.
other Information
| moody’s rating | A+ Strong (5th of 21 ratings) |
|---|---|
| fitch rating | A+ Strong (5th of 21 ratings) |
| S&P rating | Power 7 Protector Plus Income |
| Product brochure |  |
| agent commission | 1,000.00 |
| LOGIN FOR | Yes |
| premium Type | Power 5 Protector Power 7 Protector Power 7 Protector Plus Income Power 10 Protector Power 10 Protector Plus Income |
|---|---|
| account Type | 2-6% |
| options at maturity | 2.25 - 4.75% |
| death benefit provision | (800) 888-2452 |
| taxes | aig.com |
| surrender schedule | 8%, 7%, 6%, 5%, 4%, 3%, 2%, 0%, 0%, 0%, 0% |
|---|---|
| free-look period | • ML Strategic Balanced • MSCI EAFE • PIMCO Global Optima Index • Russell 2000 • S&P 500 |
| RMD | Level Income Option - 1.10% Max Income Option - 1.10% |
| market value adjustment | Yes |
