Assured Edge Income Achiever
Corebridge Financial Inc. (AIG NY), formerly known as AIG Retirement Services, has undergone a transformative journey to become one of today’s leaders in the provision of annuities, life insurance, asset management, and retirement solutions. Established in 1926 under a different name (American General Insurance Company), the company has grown exponentially in the past decades to provide its industry-leading products and services. Their mission is to partner with financial professionals, institutions, and individuals by way of aiding their clientele to seize control over their finances in retirement. With a diverse customer base, the company has served as a spin-off to the American International Group (AIG) in recent years, marking its evolution into an independent, publicly traded entity.
Assured Edge Income Achiever
Ratings:
- A.M. Best A
- Fitch A+
- S&P A+
- Moody's A2
- Comdex 80
About Product
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 10 years | 2.25% |
Minimum/Maximum Contributions
- $25,000: Minimum initial premium for nonqualified annuities and tax-qualified annuities.
- $150,000: Minimum single premium for non-natural entities. (See Ownership Section for details.)
- $2,000,000: Maximum total premium amount without prior company approval.By company practice, which is subject to change.
After the initial premium, subsequent premiums will be permitted during the first 60 days after the contract issue (as a Lump Sum or Periodic Payments).
- Partial withdrawals may reduce benefits and contract value.
Withdrawals above the penalty-free withdrawal amount during the seven-year initial interest rate guarantee term may be increased or decreased by an MVA. The MVA is based on a formula designed to react to changes in interest rates at the time of a withdrawal. Generally, if interest rates have risen since the contract issue date, the MVA can decrease the amount you will receive, subject to certain limits. If interest rates have fallen, the MVA can increase the amount you will receive, up to a maximum percentage.
- An MVA will apply to withdrawals above the penalty-free withdrawal amount made during the first seven years.
- Withdrawals less than or equal to the GLIA after activating lifetime income
- 10% penalty-free withdrawals
- Death benefit
- Annuitization
- Permitted RMDs from qualified contracts
- The minimum withdrawal value under the contract
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Assured Edge Income Achiever GLWB | Yes | 0.95% annually |
Waivers
Death
Death Benefit available without withdrawal charge or MVA.
Terminal Illness
Unavailable in states: CA
The owner must be initially diagnosed with a terminal illness after the contract date. Only one partial withdrawal or a full withdrawal is permitted.
Annuitization
Withdrawal charges and any MVA will not apply to annuitized funds.
Extended Care
Unavailable in states: CA
The owner must receive extended care for at least 90 consecutive days, beginning after the first contract year. The extended care may not have begun before the contract date.
ADL
Unavailable in states: CA
The owner must be unable to perform at least two of six activities of daily living for at least 90 consecutive days beginning after the first contract year.
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