Company Information
Company Name
Corebridge Life
Product Name
Corebridge Life American Pathway Fixed 5 Annuity
Description
The American Pathway Fixed 5 Annuity is a single premium, fixed account with a 5-year rate guarantee. After five years, investors can withdraw, transfer, or reinvest their full account value. If no action is taken, a one-year rate is declared and the policy continues without surrender penalties.
There are two rate bands. The highest rate applies to deposits above $100K, while a lower rate applies to deposits between $25K and $99.9K. Qualified and non-qualified funds are accepted. There are no surrender penalties at death. Corporate-owned annuities are allowed.
This policy can be tailored in several ways. Return of Premium and Market Value Adjustment provisions can either be added or subtracted affecting the overall rate of return.
AM Best Rating
A
URL
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
Int / 15%
Rate
5.00%
Term
5 Years
Minimum Investment
$ 100,000
Maximum Investment
$2,000,000 without prior approval
Maximum Age
90
Surrender Schedule
9%, 8%, 7%, 6%, 5%, 0%
What We Like About This Annuity
This annuity offers several variations allowing investors to personalize their policy. Return of Premium and/or MVA riders can be added. Additionally, up to 20% free withdrawals are available if full interest withdrawals were not used in the previous year.
Notable Features
At no extra cost, this policy includes 15% penalty free withdrawals in year two. Extended Care and Terminal Illness waivers are also included. This policy can be annuitized in year three without incurring surrender penalties.
Other Popular Products
Corebridge Life (formerly AIG) offers several popular fixed and fixed-indexed annuities. Their income annuities - offered through American General - have some of the highest lifetime income payments on the market.
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About Corebridge Financial
Formerly AIG, Corebridge Life is a large, well-diversified insurance company providing life and annuity solutions for individuals, families, and businesses. They are the number 2 ranked insurance company in total annuity sales.
With nearly $13 billion in reserves alone and an A rating from AM Best, consumers can rest assured they’ve placed their funds with a stable and well-capitalized insurance company.