Corebridge Financial (Formerly AIG Life And Retirement) Review 2024 (2024)

Corebridge offers five types of life insurance products:

• Term life
• Whole life
• Guaranteed issue whole life
• Indexed universal life
• Guaranteed universal life

Corebridge Term Life Insurance

Term life insurance is a simple option if you’re looking for life insurance to cover a specific period in your life. For example, suppose you want enough coverage to cover income replacement for your family if you die. In that case, a term life policy with a term that covers the remainder of your working years is an option. After the term expires, you can always renew or get a new policy, but you should prepare for increased premiums. Term life insurance does not build cash value, and as a result, it is often the cheapest type of life insurance to purchase.

Corebridge offers a term life product with 18 different term duration options called Select-a-Term. You can buy terms as low as 10 years, all the way up to 35 years, with 16 incremental choices in between. This product is available to buyers between the ages of 18 and 80. At the end of your term, the Select-a-Term policy is renewable annually until age 95. Death benefit coverage amounts begin at $100,000.

Corebridge Whole Life Insurance

Whole life insurance can be an appealing option for people seeking permanent life insurance with some guarantees. It offers a guaranteed death benefit, fixed premiums and a fixed rate of return on cash value.

Final expense insurance, sometimes called burial insurance, is a type of whole life insurance.

SimpliNow Legacy is final expense life insurance offered by Corebridge. SimpliNow Legacy is available for people ages 50 to 80, with coverage from $5,000 to $35,000.

Depending on the type of death benefit option you qualify for, you may be offered a level death benefit that makes 100% of the death benefit payable right away, as long as the policy is active. Or, you’ll be offered a graded benefit that pays out 100% of the death benefit if the policy has been active for more than two years, and 110% of the premiums paid if death occurs within the first two years.

SimpliNow Legacy is a simplified issue life insurance policy, so there is a short application and underwriting process, with no medical exam required.

Corebridge Guaranteed Issue Whole Life Insurance

Guaranteed issue whole life insurance might be a good choice if you have medical conditions that make it difficult to buy other types of life insurance, and you don’t need more than a small amount of coverage, such as $25,000.

Corebridge’s Guaranteed Issue Whole Life Insurance product, also known as final expense protection, offers guaranteed acceptance for buyers age 50 to 80, with coverage from $5,000 up to $25,000. As long as you meet the age requirements, you will not be turned down regardless of health issues.

If you die within two years after the policy purchase, your beneficiaries will receive 110% of the premiums paid. After the first two years, they will receive the full death benefit. This type of pay out is called a graded death benefit. Premiums for Corebridge’s whole life product are guaranteed not to increase.

Corebridge Guaranteed Universal Life Insurance

Guaranteed universal life insurance offers the potential for flexible premiums and death benefit amounts, up to specified limits. Because there may be minimal cash value gains in this type of life insurance, it is usually cheaper than other universal life products.

Secure Lifetime GUL 3 includes a flexible premium where you can vary premium payment amounts and payment frequencies. The minimum death benefit is $100,000. It also offers an adjustable death benefit and is available to buyers ages 18 to 80.

Corebridge’s Secure Lifetime GUL 3 comes with various guarantees:

• A guaranteed death benefit
• Guaranteed premiums
• A flexible continuation guarantee benefit allowing you to determine how long your death benefit is guaranteed
• Guaranteed minimum interest rate for cash value accumulation of 2%

Corebridge Indexed Universal Life Insurance

Indexed universal life is an option for people looking for cash value growth that is tied to an index, like the S&P 500. It also includes the flexibility to vary premiums and death benefits. Participation rates, caps and fees are associated with indexed universal life insurance products.

Corebridge’s Max Accumulator+ III is available for buyers ages 18 to 80 and has a minimum death benefit of $50,000. There are two death benefit options you can select from based on your needs—level or increasing.

For cash value accumulation, you will select your investments from four accounts with performance based on the S&P 500 and a declared interest account with a fixed minimum interest rate of 2%. You can change your allocations at any time.

Corebridge’s Value+ Protector III is another indexed universal product, and it comes with various guarantees and higher coverage amounts for buyers ages 18 to 85. The minimum death benefit amount is $100,000.

You can select cash value investment options based on your risk tolerance. Both the investment strategy for those more risk-tolerant, called the par strategy, and for those less risk-tolerant, called the cap strategy, are tied to the S&P 500. Its fixed interest account guarantees a minimum interest rate of 2%.

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