AIG Annuities: A Reliable Retirement Income Source

With more than $527 in assets and operations in more than 70 countries, AIG is one of the world’s top insurance corporations. The conglomerate is a household name in America and has a powerful presence in every aspect of the insurance industry, including the annuities market.

In March 2022, AIG announced that it would rebrand its Life & Retirement business operations as a new subsidiary company, Corebridge Financial, Inc. AIG’s annuities are now issued under Corebridge, but AIG still controls the company.

AIG is well-regarded in the insurance industry. The company holds straight-A ratings from all leading credit rating agencies, including S&P Global Ratings and AM Best. Evaluators considered it financially stable and well-equipped to uphold its financial responsibilities to its customers.

AIG offers three types of annuities through Corebridge Financial: fixed annuities, variable annuities and indexed annuities.

AIG’s fixed annuity products offer a guaranteed interest rate for the duration of your term and stable payouts later. These annuities are ideal for people who prefer safe investments that generate predictable returns for retirement.

AIG’s variable annuities offer flexible interest rates that rise and fall according to how well the stock market performs. These annuities don’t provide a guaranteed return, but they have the potential to generate much more income than the other options. They’re perfect for people who have many sources of retirement income and don’t mind risking some of their annuity funds for a chance at higher growth.

AIG’s indexed annuities combine the security of its fixed annuities with the growth potential of variable annuities. With these products, your interest rate can rise as the market rises. However, these indexed annuities also have a guaranteed minimum interest rate that protects you from a market downside.

AIG charges administrative fees based on the income base of your annuity, or the amount you initially deposited plus the interest that deposit has accumulated.

Fees range from 0% on its American Pathway fixed annuities to 1.45% on its Polaris variable annuities. Sometimes, fees may adjust according to market conditions after the first year of your term. Some annuities also come with additional contract maintenance fees and expense fees.

AIG also charges a surrender fee on any withdrawals exceeding 10% of your annuity’s value in any year during your term. Fees depend on the type of annuity you have, the length of its term and how long you owned the policy.

AIG’s annuity fee structure is less transparent than some of its competitors, but you’ll know which fees you agree to before purchasing your annuity. AIG will also notify you before any fee changes so you can prepare your finances accordingly.

AIG makes it easy for its annuity customers to get support, even outside of normal business hours.

You can log in to your Corebridge Financial account at any time through the company’s secure online portal. You’ll need to input your name and password to access information on any Corebridge policies you own, including annuities. If you’re registering for the first time, you’ll need to verify your email address and phone number.

You can reach the Corebridge customer service line at 800-445-7862 on weekdays between 7 a.m. and 8 p.m. CST.

You can also send mail to Corebridge’s customer service department at P.O. Box 15648 in Amarillo, Texas. Corebridge may ask you to send certain documents to this address when helping you with your inquiries.