American General Life is the annuity issuer for the products publicly presented by Corebridge Financial. You may hear both names used interchangeably, and they are, for all intents and purposes, the same provider. Corebridge rebranded in 2021 and was previously known as AIG Life and Retirement. The company provides fixed, indexed and variable annuities.
Jennifer Schell, CAS® Financial Writer, Certified Annuity Specialist® Jennifer Schell is a professional writer focused on demystifying annuities and other financial topics including banking, financial advising and insurance. She is proud to be a member of the National Association for Fixed Annuities (NAFA) as well as the National Association of Insurance and Financial Advisors (NAIFA). Read More
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How to Cite Annuity.org's ArticleAPA Annuity.org (2024, June 12). American General Life At a Glance: Rates, Products and Reviews. Retrieved September 6, 2024, from https://www.annuity.org/annuities/providers/american-general-life-insurance/
MLA "American General Life At a Glance: Rates, Products and Reviews." Annuity.org, 12 Jun 2024, https://www.annuity.org/annuities/providers/american-general-life-insurance/.
Chicago Annuity.org. "American General Life At a Glance: Rates, Products and Reviews." Last modified June 12, 2024. https://www.annuity.org/annuities/providers/american-general-life-insurance/.
Annuity.org Star RatingAmerican General Life’s annuities offer fixed, indexed and variable options, with many offering beneficial features. The drawback is that most of these features are only available as additional riders to your contract for an additional fee.
American General Life offers several different annuity products that are broken down by type. Some annuity providers focus on a few specific types of annuities while offering many variations of those types.
The offerings Corebridge presents are a bit different. Typically, Corebridge offers just one or two products for each type of annuity but has products from many different annuity types.
Fixed, indexed and variable options are available.
Corebridge Financial advertises two types of fixed annuities that are issued through American General Life.
The first is the Assured Edge Income Builder ® fixed annuity, which is designed to provide a guaranteed stream of fixed income. It’s a solid product that includes many of the hallmark offerings of fixed annuities, such as the ability to withdraw up to 10% of the contract value without facing charges, and provisions to account for a move to a nursing home or the development of a terminal illness.
The Assured Edge Income Builder ® annuity allows you to change who is covered by the annuity (accounting for divorces, marriages, etc.) as long as you have not activated income.
Also offered is the American Pathway ® fixed annuity, which advertises guaranteed interest rate periods and guaranteed interest earnings.
When it comes to indexed annuity options, Corebridge offers one choice: the Power Series Index Annuity. While it is just one product, it is offered with two different riders that can alter it significantly.
The first option is the Lifetime Income Max ® rider, which guarantees a 10% income credit for every year before you start withdrawals. The product allows you to withdraw up to 7.35% per year for life and is also a great choice for those comfortable waiting a long time to start receiving payments since your income base is guaranteed to grow 10% each year.
Your other rider option is the Lifetime Income Plus Multiplier Flex ® , which allows your income to continue to grow even after you begin taking withdrawals.
Adding this rider means your interest earned can be matched until you are 95 or when your contract value is completely depleted. Credits offered can also be equal to double the interest earned before you begin taking payments.
While both riders offer big-time benefits, they do come with a cost. Each choice is available for a 1% annual fee on your income base.
The variable annuity issued through American General Life is known as the Polaris. One useful feature available through its Polaris Income Plus Daily Flex Rider is the ability to take advantage of daily step-ups, as opposed to the more common monthly or annual step-ups.
This gives customers a better shot at capturing a market high and seeing the value of their annuity grow even more.
Customers have the choice of three different income options when they purchase a Polaris Variable Annuity, with different annual withdrawal rates being available depending on the age that you start taking income.
Polaris Income Options for Single Life Coverage
| Age | Withdrawal Amount Option 1 | Withdrawal Amount Option 2 | Withdrawal Amount Option 3 |
| 60 to 64 | 5.00% | 5.00% | 4.00% for life |
| 65 to 74 | 6.75% | 7.75% | 5.40% for life |
| 75+ | 7.25% | 8.25% | 5.70% for life |
Buy an Annuity From American General Life Today
Like what you see? Let us help you select the American General Life product that fits your needs.Understanding exactly what American General Life is and how it plays a role in your annuity purchase can be a bit confusing. Simply put, American General Life is the issuing company for annuities that are advertised and sold by Corebridge Financial.
Adding to the confusion is the fact that Corebridge itself recently rebranded and was previously known as AIG Life and Retirement. While it changed its name in 2021, it is still part of the larger AIG company.
AIG is a massive multinational corporation, so Corebridge and American General Life have a strong and stable financial backing.
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Credit ratings for annuity providers can help determine a company’s financial strength and stability — an indication that it will be around to guarantee payments to you in the future. Different rating companies use different scales.
American General Life Credit Ratings
The Annuity.org editorial team spoke with several different annuity experts to learn more about what is important to customers when searching for a provider and what factors make a company reliable. While Annuity.org designed the methodology, these experts provided feedback during the process and consulted on what factors we should leverage to best help prospective buyers compare providers.
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Please seek the advice of a qualified professional before making financial decisions. Last Modified: June 12, 2024
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Our trusted annuity providers can help you earn up to 6.6%. Call Now: 877-918-7024 Jennifer Schell, CAS® Financial Writer, Certified Annuity Specialist®Jennifer Schell is a professional writer focused on demystifying annuities and other financial topics including banking, financial advising and insurance. She is proud to be a member of the National Association for Fixed Annuities (NAFA) as well as the National Association of Insurance and Financial Advisors (NAIFA).
Chip Stapleton FINRA Series 7 and Series 66 License Holder