American General Life At a Glance: Rates, Products and Reviews

Products Offered by American General Life

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 variable, and registered index-linked annuity (RILA) options are available.

Fixed Annuities

Corebridge Financial advertises three 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.

Also offered is the American Pathway^® fixed annuity, which advertises guaranteed interest rate periods and guaranteed interest earnings.

The third option is the Corebridge Pathway Choice℠ fixed annuity. This product provides guaranteed interest earnings and tax-deferred growth, while protecting your retirement savings from market fluctuations.

Indexed Annuities

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 8.25% 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.

Variable Annuities

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	6.00%	6.00%	8.00% for life
65 to 74	7.75%	8.75%	6.20% for life
70-74	8.00%	9.00%	6.40% for life
75+	8.10%	9.15%	6.60% for life

Register index-linked annuities

The registered index-linked annuity (RILA) available from American General Life is called the Corebridge MarketLock® Annuity. This product allows you to grow your retirement assets, while protecting your money against market volatility and inflation.

You can customize your allocation based on the amount of growth potential you want, and your risk tolerance. Then, you can pick a buffer to reduce market downsides, up to a certain percentage.

The Corebridge MarketLock® Annuity has no annual fee. If you want to add an optional Return of Premium (ROP) death benefit rider, it comes with a 0.20% annual fee.

About American General Life

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.

Credit Ratings

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

Rating Company	Credit Rating
AM Best	A
Fitch	A+
S&P	A+

What Customers Are Saying About American General Life

American General Life Insurance hasn’t been scored by J.D. Power for overall customer satisfaction in the last few years. However, it receives more complaints than expected from the National Association of Insurance Commissioners (NAIC).

The NAIC Complaint Index tracks consumer complaints that each state’s insurance commission receives each year. These are used to compile a company’s NAIC Complaint Index. Companies that receive an average number of complaints have an index of 1.0. 

For 2024, American General Life’s NAIC Complaint Index for all policies was 0.53, indicating that it gets fewer complaints than average. For individual annuities, its index was 1.30, which means it receives slightly more complaints than expected based on its size and premiums written.

NAIC Complaint Index for American General Life

All Policy Types	0.53
Individual Annuities Only	1.30

American General Life Pros & Cons

A pro to American General Life is the variety of annuity types that it offers, speaking to the diversity available from working with a large company. Some competitors specialize more heavily and drill down on one or two specific types of annuities.

But American General Life provides robust offerings across a few different categories.

There are drawbacks for consumers to consider, many of which come from the company’s confusing identity. 

If you purchase an annuity, you are doing so through American General Life. But brochures, rates and offerings are available from and branded as Corebridge products.

Corebridge’s recent rebranding from AIG Life and Retirement may also cause confusion.

“Companies that aren’t new and companies that have rebranded are pretty urgent to get back on the field and get noticed by building a brand reputation again,” Ryan Cicchelli, owner of the Safe Investing Expert, told Annuity.org “You have to look at their financials and liability […] I’m not saying don’t buy them, I’m just saying make sure you and your financial professional understands them.”

American General Life’s potential offerings are also somewhat limited. The company’s brochures for their various annuities tout many impressive benefits, but these are largely only available through add-ons to your contract that you must pay for.