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.

Corebridge Financial Inc. (AIG)
15 customer reviews
Assured Edge Income Achiever-brochure Assured Edge Income Achiever-brochure

Assured Edge Income Achiever

Your Email

Ratings:

  • A.M. Best A
  • Fitch A+
  • S&P A+
  • Moody's A2
  • Comdex 80

About Product

Premium Type
Single Premium with Additional
Fee withdrawal:
10%
Market Value Adjustment
Yes
Return Of Premium
No x
Minimum Contribution
$25,000
Maximum Contribution
$2,000,000
Min Age Qualified
50
Max Age Qualified
80
Types Of Funds
Non-Qualified, 401k, IRA, IRA Rollover, IRA Transfer, TSA 403b, SEP IRA, KEOGH, IRA-Roth, 1035 Exchange, and TSP
Launch Date
01/07/2019

MYGA Interest Rates

Term
Rate
Annual percentage yield (APY)
earned over the investment term
10 years 2.25%
When you purchase Assured Edge Income Achiever, your guaranteed lifetime income amount (GLIA) will increase based on a 5.8% income growth rate each year until you activate lifetime income. The income growth rate is not a rate of return and the income growth credit is not added to the contract value. The annual income credit is a dollar amount calculated by multiplying the initial GLIA by the 5.8% income growth rate.

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.
Eligible Premium Period
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).

Penalty-Free Withdrawal Privilege
Beginning in the first contract year, you may take multiple withdrawals of up to 10% of the contract value, as of the previous anniversary, with no withdrawal charge or market value adjustment (MVA). You may also take penalty-free withdrawals to satisfy permitted RMDs based on this contract which does not exceed the greater of the GLIA or the RMD amount as calculated by us, withdrawals up to the GLIA after activating lifetime income, and withdrawals taken under certain waivers.
  • Partial withdrawals may reduce benefits and contract value.
Market value adjustment (MVA)
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. 
An MVA will not apply to: 
  • 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 
Note: TSP funds have to be rolled into an IRA.

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.

You might also be interested in

James Alden Experienced Financial Advisor
25 years experience
3,712 career consultations
4 slots free for today
scheduling.
Your Name
Your Phone
Thank you for your trust! I have received your contact information. Please wait for a call within 30 minutes. 😌