CUSIP Number:
02640M327
CUSIP Name:
7 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
04 Mar 2024
Close Date:
CUSIP Note:
Scrap Book:
The Power Index Plus Income (Proprietary Bank) is a modified, single premium deferred index annuity with a market value adjustment. The minimum single premium is $25,000 for non-qualified and qualified money. Additional contributions are accepted within the first 30 days only. After the first contract year, 10% of the prior anniversary value may be withdrawn without withdrawal charges or MVA. Surrender charges are 7 years in duration and are waived in the event of death, the need for Extended care, or diagnosis of a terminal illness. There are two optional Guaranteed Living Benefit Rider available for an additional fee which, if elected, provide lifetime income thatâs guaranteed to rise for up to 10 contract years (Lifetime Income Max) or up to age 95 or when the contract value is depleted, whichever is earlier (Lifetime Income Plus Multiplier Flex). Withdrawals and taxable distributions may be subject to ordinary income tax and if made prior to age 59 1/2, may also be subject to a 10% federal income tax penalty. Guarantees based on claims paying ability of insurer. Products / features may not be available in all states. This is an annuity contract issued by an insurance company and not a bank product protected by the FDIC.
Last Modified:
01 Apr 2026 07:04