How is AIG committed to corporate sustainability and community involvement?

As Corebridge Financial spins off from AIG, you may care to know that AIG has a longstanding commitment to corporate sustainability and social responsibility. Here are some highlights from its 2022 ESG Report: Renewable energy investments: AIG invested $3.5 billion in renewable energy projects, including transmission projects, solar power purchase agreements and PACE loans for both commercial and residential sectors. Diverse suppliers support: Over $60 million in business was awarded to certified diverse suppliers and organizations, reflecting AIG's commitment to inclusivity in its business practices. Charitable contributions: AIG donated more than $22 million in charitable contributions and matching grants, continuing its tradition of giving back to the community. Solar and alternative energy: AIG invested $120 million in solar and alternative energy projects in the U.S., showcasing its focus on sustainable energy sources. Net-zero emissions goal: AIG is committed to achieving net-zero emissions across its operations, underwriting and investments by 2050 or sooner, underscoring its dedication to environmental sustainability. Paper consumption reduction: A 47 percent reduction in paper consumption was achieved in AIG’s U.S. and UK operations, demonstrating its commitment to reducing its environmental footprint. Wind farm investments: A significant investment of $160 million was made in wind farms in Norway, further diversifying AIG’s portfolio in renewable energy sources. These initiatives highlight AIG’s ongoing efforts in corporate sustainability and social responsibility, reflecting a commitment that could be of interest to those considering Corebridge Financial's services.

How to file a claim with Corebridge Financial?

It may be difficult to think about, but you likely want to make sure your beneficiary knows how to file a life insurance claim with Corebridge Financial. If you have a Corebridge Financial policy and you pass away, your beneficiary can file a claim by: Filling out the online claim form Calling Corebridge Financial directly To call Corebridge Financial, your beneficiary will need to enter your policy number into the online tool. This will then populate the correct service number. To file a claim, your beneficiary will likely need information like your policy number, date of death and proof of your passing. A Corebridge Financial representative will walk your beneficiary through the steps needed to successfully complete the claims process.

Can I cash out a Corebridge Financial life insurance policy?

Yes, if you have a permanent life insurance policy with Corebridge Financial that builds cash value, you may have the option to cash out or take a loan against that value. Term life insurance policies do not accumulate cash value, so this option is only available with certain permanent or whole life policies. It's important to note that cashing out or taking a loan against your policy will typically reduce the death benefit and may have tax implications. Before making a decision, it's recommended that you consult with a financial advisor or speak directly with Corebridge Financial’s customer service to understand the specific terms and potential consequences.

How long does Corebridge Financial life insurance take to pay out?

According to Corebridge Financial, once a claim is approved, beneficiaries typically receive their payment within five business days. If applicable, any pension payments due to death in service are usually set to start within 30 days, provided the correct payment details are on file.

Corebridge Financial life insurance review 2025

Written by

Ashlyn Brooks

Edited by

Maggie Kempken

Edited by

Maggie Kempken

Updated Jan 08, 2025

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At a glance

Bankrate's take

Policyholders seeking a range of life insurance options, especially with the flexibility of 18 different term life insurance lengths, might consider Corebridge Financial (previously AIG Life & Retirement) as their company of choice. However, those who prioritize face-to-face interactions with local agents might want to explore other providers.

AIG Insurance could be ideal for individuals seeking highly customizable life insurance options, especially given its diverse range of term lengths.

Company website: https://www.corebridgefinancial.com
Customer service: 1-800-448-2542
Mailing address: P.O. BOX 15648 Amarillo, TX 79105-5648
State availability: Corebridge Financial life insurance is accessible across all 50 states and Washington, D.C. However, specific life insurance product offerings may be limited or not available in select states. To get a detailed understanding of product availability in your state, it's recommended to reach out to Corebridge Financial's customer service team.

New

What’s new with Corebridge Financial?

In March 2022, AIG announced its plans to rebrand the parent company of AIG Life & Retirement as Corebridge Financial as part of its transition to a public company. On September 15, 2022, the company officially launched. Corebridge Financial operates as a standalone company separate from the rest of AIG’s business.

Corebridge Financial life insurance

Corebridge Financial, formerly known as AIG Life Insurance, offers a wide range of life insurance options. Whether you're just beginning to build your family or you're enjoying your retirement years, there's a chance you might find a policy that aligns with your specific needs. Corebridge Financial's diverse selection caters to different life stages and priorities, but it's important to evaluate how each option fits into your personal financial plan.

While the majority of states under Corebridge Financial see American General Life Insurance Company (AGL) as the underwriting company, The United States Life Insurance Company in the City of New York underwrites New York policies.

As you read AIG Life Insurance reviews and before you start shopping for coverage, you may find it helpful to use a life insurance calculator to determine how much coverage you need and what offerings within Corebridge Financial’s array of insurance products fit your budget.

Coverage types and key considerations

Corebridge Financial's life insurance offerings reveal a diverse range of coverage types tailored to various needs. This section will illuminate these options guiding you toward an informed choice for your unique circumstances.

Term: Corebridge Financial's term life policies come in 18 different term lengths, typically appealing to those needing coverage for a specific time, like 10 to 35 years. This could be a good match for a young family managing a mortgage. These policies start with death benefits at $100,000 and can go beyond $1,000,000. Plus, there's an option to transition to permanent insurance if your needs change.
Permanent: While more costly than term life, Corebridge Financial's permanent options, including whole and universal life, offer lifetime coverage and the chance to accumulate cash value.

Whole: The SimpliNow Legacy plan is streamlined, with no medical exam requirement and offering coverage from $5,000 to $35,000. This plan allows for flexible payment and death benefit options.
Indexed Universal: Corebridge Financial's Max Accumulator+ III focuses on cash accumulation, while the Value+ Protector III emphasizes financial protection with a guaranteed death benefit. It's advisable to consult with a Corebridge Financial agent to see which best fits your long-term needs.
Guaranteed: Aimed at individuals between 50 and 80 years old, these policies offer death benefits ranging from $5,000 to $25,000. This option might be suitable for those with health conditions that make other insurance types less feasible, though premiums may be higher.

Pros and cons of Corebridge Financial life insurance

Pros

Several product types available
18 different term life insurance policy lengths
Strong social responsibility

Cons

Unrated by J.D. Power (although AIG has a lower-than-average customer satisfaction score)
No local agents
Higher-than-average NAIC Complaint Index for individual life

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The amount of coverage you need depends on many factors, including your age, income, mortgage and other debts and anticipated funeral expenses.

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Policy type

Whole life insurance combines life insurance with an investment component.

Coverage for life
Tax-deferred savings benefit if premiums are paid
3 variations of permanent insurance: whole life, universal life and variable life include investment component

Term life insurance is precisely what the name implies: an insurance policy that is good for a specific term of time.

Fixed premium over term
No savings benefits
Outliving policy or policy cancellation results in no money back

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AIG life insurance endorsements

Corebridge Financial offers several life insurance riders, which are add-on coverage options that may help you broaden your policy’s scope. Riders will generally make your policy more expensive, so those looking for the cheapest life insurance may choose to pass on these options, but the extra coverage might be worth it. AIG life insurance riders vary depending on the policy type you choose, but a few options include:

Accelerated death benefit: Available on Corebridge Financial’s term and some simplified issue whole life policies, this rider may increase your death benefit if your death is caused by eligible accidents.
Chronic illness:Available on both universal life options and included automatically in the guaranteed whole life option, this rider gives you access to a portion of your death benefit while you are still living if you are diagnosed with a qualifying chronic illness.
Terminal illness: Both of Corebridge Financial’s whole life options and its term life insurance offer a terminal illness rider. The rider is included automatically on guaranteed whole life policies and is available on simplified issue whole life policies if you select the level death benefit option. This endorsement allows you to access some of your death benefit early if you’ve been diagnosed with a terminal illness.
Waiver of premium: Only available on term life insurance policies, a waiver of premium rider would allow a policyholder who experiences total disability to maintain coverage without paying premiums after a waiting period of six months.

Compare Corebridge Financial with other insurers

Corebridge Financial sells numerous life insurance products, but no company is one-size-fits-all. If you’re shopping around and comparing life insurance quotes, you might want to check out these life insurance companies, too.

Corebridge Financial vs. State Farm

State Farm offers numerous life insurance products and is also available in all 50 states. If AIG’s low customer satisfaction scores give you pause, you might want to consider State Farm, which has the top J.D. Power life insurance customer satisfaction score of 2023. The company also won a 2024 Bankrate Award for term life insurance, retaining the title from 2022 and 2023.

Learn more: State Farm Insurance review

Corebridge Financial vs. MassMutual

MassMutual might be a good option if you are looking for whole life insurance, considering that it won a 2022, 2023 and a 2024 Bankrate Award for whole life. With its impressive array of riders, no-exam options and above-average customer satisfaction, it could be a good choice if you are looking for a personalized policy. MassMutual also has above-average customer satisfaction according to J.D. Power, but you may want to keep in mind that medical exams are required for most policies.

Learn more: MassMutual Life Insurance review

Corebridge Financial vs. Mutual of Omaha

If Corebridge Financial’s additional financial services are appealing to you, you might also want to consider Mutual of Omaha. Like Corebridge Financial, the carrier offers both life insurance and other financial products, including annuities, investment options and mortgages.

Learn more: Mutual of Omaha Insurance review

Is Corebridge Financial a good insurance company?

Drawing upon our editorial team's extensive insurance expertise, we examined Corebridge Financial life insurance from a consumer perspective. Under its recent rebranding, the company impresses with its wide array of policies and riders. Notably, the choice of 18 different term lengths stands out as a distinctive feature in the insurance realm.

However, as a relatively new entity, Corebridge Financial has yet to secure standalone third-party ratings. It's also worth noting that AIG's customer satisfaction scores trail behind industry averages. Therefore, while considering an insurance policy with them, potential policyholders might find it beneficial to explore multiple options and compare quotes to ascertain if Corebridge Financial aligns with their needs.

Corebridge Financial customer satisfaction

When you’re looking for the best life insurance company for your needs, comparing third-party customer satisfaction and financial strength scores may be an important step. This information could help you determine if a company will meet your needs and those of your beneficiaries after your passing.

Corebridge Financial is the initial public offering (IPO) of AIG’s life and retirement product business. It operates as a standalone business, but since it is relatively new, it doesn’t have any third-party reviews or ratings. However, since most policies are still underwritten by AIG, AIG's ratings could be a useful metric.

AIG’s third-party reviews are relatively mixed. The carrier scored well below average for customer satisfaction in J.D. Power's 2023 U.S. Individual Life Insurance Study, with a score of just 762 out of 1,000 points. This was the fourth-lowest score in the study, which indicates that AIG policyholders may feel dissatisfied when it comes to customer service.

AIG’s life and retirement division receives an A (Excellent) financial strength rating from AM Best. While this is a relatively high score, it isn’t as high as some of AIG’s life insurance competitors. However, it does indicate a fairly high historical level of financial stability.

Study or Rating Agency	AIG	Industry average
2023 J.D. Power Individual Life Insurance Study	762/1,000	790/1,000
2022 J.D. Power Group Life Insurance Study	Not rated	797/1,000
AM Best rating	A (Excellent)	N/A

Corebridge Financial life complaints

The National Association of Insurance Commissioners (NAIC) offers valuable insights for customer satisfaction. The NAIC provides Complaint Index scores for insurance providers, allowing consumers to gauge the relative number of complaints a company receives. It's crucial to understand that an NAIC score of 1.00 is considered a baseline, indicating a standard expectation of complaints for a company of its size. Scores below 1.00 suggest fewer than expected complaints, while scores above indicate a higher number. Furthermore, the NAIC differentiates these scores based on product type to give a clearer picture of company performance in specific sectors.

Under underwriting company American General Life Insurance Company, the NAIC reported a complaint index of 2.52 for the company’s individual life insurance product in 2022. This indicates that for this product category, the NAIC receives almost three times the expected number of complaints for AIG’s life insurance products.

Other Corebridge Financial life tools and benefits

AIG life insurance is extensive, but the company also sells other financial products and services that might be helpful to you:

Annuities: Corebridge Financial also offers fixed, variable and indexed annuities, along with variable annuities with structured outcome investments. AIG also offers annuities.
Retirement planning workbook: Corebridge Financial offers a free digital workbook for those beginning to plan for retirement and their financial needs.

Frequently asked questions about Corebridge Financial

As Corebridge Financial spins off from AIG, you may care to know that AIG has a longstanding commitment to corporate sustainability and social responsibility. Here are some highlights from its 2022 ESG Report:
- Renewable energy investments: AIG invested $3.5 billion in renewable energy projects, including transmission projects, solar power purchase agreements and PACE loans for both commercial and residential sectors.
- Diverse suppliers support: Over $60 million in business was awarded to certified diverse suppliers and organizations, reflecting AIG's commitment to inclusivity in its business practices.
- Charitable contributions: AIG donated more than $22 million in charitable contributions and matching grants, continuing its tradition of giving back to the community.
- Solar and alternative energy: AIG invested $120 million in solar and alternative energy projects in the U.S., showcasing its focus on sustainable energy sources.
- Net-zero emissions goal: AIG is committed to achieving net-zero emissions across its operations, underwriting and investments by 2050 or sooner, underscoring its dedication to environmental sustainability.
- Paper consumption reduction: A 47 percent reduction in paper consumption was achieved in AIG’s U.S. and UK operations, demonstrating its commitment to reducing its environmental footprint.
- Wind farm investments: A significant investment of $160 million was made in wind farms in Norway, further diversifying AIG’s portfolio in renewable energy sources.
These initiatives highlight AIG’s ongoing efforts in corporate sustainability and social responsibility, reflecting a commitment that could be of interest to those considering Corebridge Financial's services.
It may be difficult to think about, but you likely want to make sure your beneficiary knows how to file a life insurance claim with Corebridge Financial. If you have a Corebridge Financial policy and you pass away, your beneficiary can file a claim by:
- Filling out the online claim form
- Calling Corebridge Financial directly
To call Corebridge Financial, your beneficiary will need to enter your policy number into the online tool. This will then populate the correct service number. To file a claim, your beneficiary will likely need information like your policy number, date of death and proof of your passing. A Corebridge Financial representative will walk your beneficiary through the steps needed to successfully complete the claims process.
Yes, if you have a permanent life insurance policy with Corebridge Financial that builds cash value, you may have the option to cash out or take a loan against that value. Term life insurance policies do not accumulate cash value, so this option is only available with certain permanent or whole life policies. It's important to note that cashing out or taking a loan against your policy will typically reduce the death benefit and may have tax implications. Before making a decision, it's recommended that you consult with a financial advisor or speak directly with Corebridge Financial’s customer service to understand the specific terms and potential consequences.
According to Corebridge Financial, once a claim is approved, beneficiaries typically receive their payment within five business days. If applicable, any pension payments due to death in service are usually set to start within 30 days, provided the correct payment details are on file.

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This review has been corrected to say Corebridge Financial launched on Sept. 15, 2022. The review previously said it launched on June 5, 2023.