Corebridge Financial (formerly AIG Life & Retirement) offers term, whole life, and indexed universal life insurance through American General Life Insurance Company. The company holds an A (Excellent) rating from A.M. Best and manages over $400 billion in assets, making it one of the largest life insurers in the United States.
If you’re researching AIG life insurance and feeling confused by the name change, you’re not alone. In 2022, AIG spun off its life insurance and retirement division into a separate company called Corebridge Financial. Your coverage is still solid, and the same insurance companies still issue the policies.
This updated review covers everything you need to know about Corebridge, including current financial ratings, available products, and whether their policies make sense for your situation.
AIG to Corebridge: What Changed?
In September 2022, AIG completed the spin-off of its life insurance and retirement business. The new company, Corebridge Financial, now trades on the NYSE under the ticker symbol CRBG. AIG still owns approximately 48% of Corebridge as of late 2024.
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The rebrand happened in stages. AIG Direct, the company’s direct-to-consumer brand, became Corebridge Direct in July 2024. By September 2024, the Corebridge name replaced AIG signage at the Houston headquarters.
What Stayed the Same
Don’t worry if this sounds confusing. Here’s what matters: your policy didn’t change. The same insurance companies that issued AIG policies still issue Corebridge policies.
These issuing companies include American General Life Insurance Company (for most states), The United States Life Insurance Company in the City of New York (for New York residents), and VALIC (for retirement and annuity products). Your premiums, coverage amounts, and policy benefits remain exactly the same.
Corebridge Financial Strength Ratings
Financial strength matters when choosing a life insurance company. You want to know the company will be around to pay claims decades from now.
Corebridge’s insurance subsidiaries hold strong ratings from major rating agencies. A.M. Best, the most widely cited rating agency for insurance companies, gives Corebridge an A (Excellent) rating. This rating was affirmed in December 2024.
The company manages more than $400 billion in assets and maintains more than 4 million active life insurance policies across the United States. These numbers put Corebridge among the largest life insurance providers in the country.
Life Insurance Products Offered
Corebridge offers a full range of life insurance products through its American General subsidiary. Here’s what’s currently available.
Term Life Insurance
Term life provides coverage for a specific period. If you die during the term, your beneficiaries receive the death benefit. Corebridge offers two main term products.
| Product | Term Lengths | Issue Ages | Min. Coverage | Key Features |
|---|---|---|---|---|
| Select-a-Term | 10, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 35 years | 20-80 | $100,000 | 18 term length options, convertible to permanent coverage |
| QoL Flex Term | 10, 15, 20, 25, 30 years | 20-59 | $100,000 | Includes chronic, critical, and terminal illness riders |
The Select-a-Term product stands out for its flexibility. Most companies offer only 10, 15, 20, 25, or 30-year terms. Corebridge lets you choose any term length from 15 to 30 years, plus 10-year and 35-year options. The 35-year term is one of the longest available in the industry.
Guaranteed Universal Life (GUL)
GUL provides lifetime coverage with guaranteed premiums. Unlike term insurance, it won’t expire as long as you pay your premiums.
| Product | Issue Ages | Min. Coverage | Key Features |
|---|---|---|---|
| Secure Lifetime GUL 3 | 18-85 | $50,000-$100,000 (varies by age) | Lifetime death benefit guarantee, Lifestyle Income Solution rider for income access after age 85 |
Indexed Universal Life (IUL)
IUL policies combine life insurance protection with cash value growth tied to market indexes. Corebridge offers two IUL options designed for different goals. If you’re exploring IUL options, you can compare top IUL companies to see how Corebridge stacks up.
| Product | Focus | Issue Ages | Min. Coverage | Best For |
|---|---|---|---|---|
| Accumulation IUL | Cash value growth | 18-80 | $50,000 | Maximizing tax-advantaged retirement savings |
| Protection IUL | Death benefit | 18-85 | $100,000 | Lower premiums with permanent coverage |
Both IUL products include index strategies like Blend Participation Rate, Dividend Blend, and Global Blend. They also feature a 0.25% floor, meaning your cash value won’t lose money even in down markets.
Whole Life Insurance
Corebridge offers simplified and guaranteed issue whole life insurance designed primarily for seniors seeking final expense coverage.
| Product | Issue Ages | Coverage Range | Underwriting | Key Features |
|---|---|---|---|---|
| Simplified Issue Whole Life | 50-80 | $5,000-$35,000 | Health questions, no exam | Immediate full death benefit, lower premiums than guaranteed issue |
| Guaranteed Issue Whole Life | 50-80 | $5,000-$25,000 | No health questions, no exam | Cannot be declined, 2-year graded benefit period |
The guaranteed issue option accepts everyone regardless of health. The trade-off is a graded death benefit. If you pass away in the first two years, beneficiaries receive 110% of premiums paid rather than the full death benefit.
Policy Riders and Benefits
Corebridge policies include several optional riders that can customize your coverage.
For IUL policies, the Income for Life rider provides guaranteed retirement income. The Overloan Protection rider prevents your policy from lapsing if loans exceed cash value. Terminal Illness Accelerated Benefit riders are included at no extra cost on most policies.
The QoL Flex Term product includes living benefit riders for chronic illness, critical illness, and terminal illness. These let you access a portion of your death benefit while still alive if you experience a qualifying health event.
Underwriting: Who Should Consider Corebridge?
Corebridge has invested in modernizing its underwriting process. The AU+ accelerated underwriting program allows many applicants to skip the medical exam entirely. According to company materials, more than 60% of term life applications qualify for this streamlined process.
The SimpliNow Choice program offers real-time approval decisions through telemedical interviews or electronic health interviews. In 2024, Corebridge launched Flex Points, replacing the older Health Credits program. This system can improve your rate class if you meet four or more health benchmarks.
Corebridge may be worth considering if you have controlled health conditions like high blood pressure, type 2 diabetes, or sleep apnea. Their underwriting guidelines tend to be more flexible than some competitors for these common conditions.
Corebridge Pros and Cons
Pros
Corebridge offers strong financial stability backed by an A (Excellent) A.M. Best rating and over $400 billion in assets. Their term life options are exceptionally flexible, with 18 different term lengths including a rare 35-year option. The accelerated underwriting program means many applicants can get coverage without a medical exam. Living benefit riders on term and permanent products provide access to funds during serious illness.
Cons
The recent rebrand from AIG may cause confusion for consumers researching the company. Guaranteed issue whole life has a two-year graded benefit period, which is standard but still a limitation. Premium costs for some products may be higher than competitors, particularly for the QoL Flex Term with its included living benefits.
Frequently Asked Questions
Is Corebridge the same as AIG?
Corebridge Financial was formerly part of AIG. In September 2022, AIG spun off its life insurance and retirement business into Corebridge, which now operates as a separate publicly traded company. The same insurance subsidiaries that issued AIG policies now issue Corebridge policies.
What happened to my AIG life insurance policy?
Nothing changed with your coverage. The same issuing companies (American General Life Insurance Company or United States Life Insurance Company) still back your policy. Your premiums, benefits, and coverage amounts remain exactly the same.
Is Corebridge financially stable?
Yes. Corebridge holds an A (Excellent) rating from A.M. Best, manages over $400 billion in assets, and maintains more than 4 million active policies. The company is one of the largest life insurers in the United States.
Does Corebridge offer no-exam life insurance?
Yes. Their AU+ accelerated underwriting program allows many term life applicants to skip the medical exam. They also offer guaranteed issue whole life for ages 50-80 with no health questions and no exam required.
What types of life insurance does Corebridge sell?
Corebridge offers term life (Select-a-Term, QoL Flex Term), guaranteed universal life (Secure Lifetime GUL 3), indexed universal life (Accumulation and Protection options), and whole life (Simplified Issue and Guaranteed Issue).
Can I convert my Corebridge term policy to permanent coverage?
Yes. Select-a-Term policies can be converted to permanent life insurance without a new medical exam. This gives you flexibility to lock in coverage now and transition to permanent protection later.
Key Takeaways
- Corebridge Financial is the new name for AIG’s life insurance division following the September 2022 spin-off
- Existing AIG policyholders keep the same coverage, premiums, and benefits with no action required
- The company holds an A (Excellent) rating from A.M. Best with over $400 billion in assets
- Term life options include 18 different term lengths, from 10 to 35 years
- IUL products come in accumulation-focused and protection-focused versions
- Accelerated underwriting means many applicants can skip the medical exam
- Guaranteed issue whole life is available for ages 50-80 with no health questions
- Living benefit riders allow access to death benefit funds during serious illness
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