Corebridge Financial life insurance

Overview

Corebridge Financial is the former life insurance and retirement business of American International Group (AIG). Its life policies are issued by American General Life Insurance Company (AGL) of Houston and, in New York, by The United States Life Insurance Company in the City of New York (US Life). Because the NAIC still filed these companies under AIG's group for 2024, the group ranked #13 among U.S. life insurance groups by 2024 individual life direct premiums written, according to NAIC market share data, with $3.56 billion in premiums and a 2.28% share. AIG sold the last of its shares in May 2026.

Corebridge is a shareholder-owned company listed on the New York Stock Exchange (CRBG) and is mainly a retirement company: it reported a record $42 billion in sales for 2025 and more than $390 billion in assets under management and administration as of June 30, 2026. Its life business sells term and indexed universal life through independent agents, banks and broker-dealers, and sells directly to consumers through Corebridge Direct. In July 2024 the company said it had about 4.2 million life policies in force in the United States.

The biggest change for policyholders is coming: Corebridge and Equitable Holdings agreed in March 2026 to merge, and the combined company will operate under the Equitable name.

History

The life business traces back to American General Insurance Company, founded in Houston in 1926 with Gus Sessions Wortham as president. American General grew through decades of acquisitions, including the Variable Annuity Life Insurance Company (VALIC). AIG acquired American General in 2001, and the life companies operated for years as part of AIG Life & Retirement. Their direct-to-consumer agency, selling since 1995, was known as AIG Direct.

AIG renamed the business Corebridge Financial and took it public on the New York Stock Exchange in 2022. AIG then sold its stake down in stages. In December 2024, Japan's Nippon Life completed the purchase of a 21.6% stake from AIG; in May 2026, AIG agreed to sell its remaining shares for about $710 million, ending its ownership. AIG Direct was renamed Corebridge Direct in July 2024, and in April 2024 Corebridge sold its U.K. life business, AIG Life Limited, to Aviva.

Two 2025–2026 changes matter most to customers. First, Corebridge reinsured its entire block of individual retirement variable annuities, about $51 billion of account value, with Venerable; the AGL portion closed in August 2025 and the New York portion in January 2026. Second, on March 26, 2026, Corebridge and Equitable Holdings announced an all-stock merger. Stockholders of both companies approved it on July 30, 2026, and it is expected to close by year-end 2026, subject to regulatory approval. The combined company will be headquartered in Houston, use the Equitable name and trade as EQH, with Corebridge CEO Marc Costantini as chief executive and Equitable's Mark Pearson as executive chair. Corebridge's insurance subsidiaries continue to stand behind existing policies; see when your life insurance policy is sold to another company for what usually changes for policyholders after a merger.

Life insurance products

Term life. Corebridge's main term product, Select-a-Term, lets the buyer choose among 18 term lengths, so coverage can match a mortgage or the years until children are grown. Corebridge says a term policy may offer the option to renew or convert to a permanent policy. Through Agile Underwriting+, some applicants for term and permanent coverage can be approved without a medical exam, lab work or an attending physician statement, and Corebridge's term page says a streamlined application can produce an underwriting decision and policy delivery in 24 to 48 hours.

Indexed universal life. Corebridge sells two Indexed universal life (IUL) explained products: Max Accumulator+ III, designed for cash value growth, and Value+ Protector, aimed at death benefit protection. In June 2026, Max Accumulator+ III added Nasdaq-100 and S&P 500 High Bonus strategies, for five index options in total. Optional riders can turn cash value into guaranteed lifetime income or help cover qualifying chronic illness and care expenses. Corebridge also sells universal life and whole life.

Guaranteed issue and final expense. Corebridge Direct sells Guaranteed Issue Whole Life to people ages 50 to 80, with $5,000 to $25,000 of coverage, no medical exam or health questions and premiums that do not increase. It has a graded death benefit: if the insured dies of natural causes in the first two years, beneficiaries receive 110% to 120% of premiums paid rather than the face amount; accidental deaths pay the full face amount. Included living benefits return premiums paid if the insured cannot perform two of six activities of daily living or has severe cognitive impairment, and advance 50% of the death benefit for a terminal illness. This product is not sold in New York or Maine. See guaranteed issue life insurance: no health questions, with limits for how these policies compare.

Other products

Corebridge is one of the largest U.S. annuity companies, selling fixed, fixed index, registered index-linked and variable annuities. Its VALIC subsidiary runs workplace retirement plans for schools, nonprofits and public-sector employers, and its Institutional Markets unit handles pension risk transfer and guaranteed investment contracts.

Buying and service

You can buy term or guaranteed issue whole life directly from Corebridge Direct online or through its quote line, 800-294-4544 (Monday to Thursday 6 a.m. to 6 p.m., Friday 6 a.m. to 5 p.m., Saturday 7 a.m. to 3:30 p.m. Pacific). Other products are sold through independent agents and financial professionals; in September 2025 Corebridge also began selling its life products through Allstate Financial Services nationwide. Existing AGL and US Life policyholders get service at 844-452-3832 and can look up policy details, make payments and update beneficiaries in Corebridge's life consumer portal. Variable universal life policyholders have a separate line, 888-565-3769.

Claims

Beneficiaries can start a claim with the online Report a Death Claim form or by phone at 844-452-3832, entering the policy number to reach the right service center. For policies with a total benefit of $15,000 or less, Corebridge says a claims team member contacts the beneficiary within 24 hours and a check is sent within five business days of receiving proof of death. For larger policies, a claims packet with all required forms goes to each beneficiary within five business days of the first notice. A certified death certificate is the core document; the packet lists anything else needed.

Ratings and reputation

In the J.D. Power 2026 U.S. Individual Life Insurance Study, released in October 2026, which measures customer satisfaction with buying and owning a policy, Corebridge ranked last of 23 brands with 581 points against a study average of 649, down from 19th in 2025.

Corebridge's investor ratings page, last updated April 8, 2026, lists the same ratings for AGL, US Life and VALIC: A (Excellent) from AM Best, A+ (Strong) from S&P, A2 (Good) from Moody's and A+ (Strong) from Fitch. These are solid but below the top ratings held by the largest life mutuals. After the Equitable merger was announced, S&P placed the ratings on CreditWatch with negative implications and AM Best put them under review with developing implications, while Moody's outlook was stable and Fitch's positive. That signals the ratings could change when the deal closes.

Corebridge said in July 2024 that it ranked among the top seven U.S. companies in term life sales and the top 11 in total life insurance issued.

Who it suits

Corebridge suits term buyers who want an exact policy length, applicants who may qualify for no-exam approval, IUL buyers working through an independent agent, and seniors who want a small guaranteed issue whole life policy bought by phone or online. It suits less well people who want participating whole life from a mutual, or who prefer a company whose ownership is not about to change.

• Strengths: 18 term lengths through Select-a-Term; Agile Underwriting+ can skip exams and labs; guaranteed issue whole life for ages 50 to 80 sold direct, with living benefits included; fast published claim handling for policies of $15,000 or less.
• Weaknesses: Ratings (A from AM Best, A2 from Moody's) are a notch below the strongest competitors and were under review in 2026; ownership has changed repeatedly since 2022 and the brand will become Equitable after the merger; the guaranteed issue policy pays only 110% to 120% of premiums for natural deaths in the first two years and is not sold in New York or Maine.

How to contact Corebridge Financial