Corebridge Launches Annuity Feature

Corebridge Financial announced the launch of its Corebridge MarketLock Annuity, a registered index-linked annuity (RILA) issued by its subsidiary American General Life Insurance Company.

“We recognize how essential it is for financial professionals to have a single trusted annuity provider that can help them meet the diverse retirement needs of all their clients. With MarketLock, Corebridge is expanding on what is already one of the broadest and most comprehensive annuity platforms in the industry,” said Bryan Pinsky, president of Individual Retirement at Corebridge Financial. “As more Gen Xers and Millennials start planning for retirement, annuities and especially RILAs have become increasingly important in diversifying investment portfolios and helping to deliver growth potential with some downside protection.”

Corebridge MarketLock Annuity has 20 different strategy account options that include the exclusive Lock Strategy, as well as crediting methods such as Cap (offers earnings potential up to a maximum percentage), Trigger (can guarantee a preset rate of return when index performance is 0% or higher) and Dual Direction (opportunity to generate positive returns in both up and down markets).

Corebridge says that with each strategy account option, MarketLock offers downside protection through a buffer that can help protect against potential loss up to a specified percentage. As an example, if the buffer is 10% and the index declines by 10% or less, then no losses are experienced. If the index drops by more than 10%, the buffer protects against the first 10% of that decline and losses are limited to only the amount that exceeds the buffer rate.