November 2, 2023
Product
Improved Term Rates
Effective October 30, 2023, QoL Flex Term is repriced in all states where it is sold. New rates are a mixture of decreases, increases, and no changes. Approximately 27% of cells have lower premiums with an average rate reduction of ~1.4%. Overall, the rates trend lower and decreases can be seen across all key bands.
IUL Credited Rates: Quarterly Update
The latest interest rates are effective October 28, 2023 for both new business and inforce IUL products. View rates by visiting Connext (log-in required).
Underwriting
Foreign National Update: Power of Attorney form available for delivery requirements
Limited Power of Attorney is now acceptable for the completion of delivery requirements on certain Foreign National cases. The request must be made using the Corebridge-specific Limited Durable Power of Attorney form (AGLC202194), which is now available in Forms Depot. See bulletin for sample form.
Policies issued by American General Life Insurance Company (AGL), Houston, TX except in New York, where issued by The United States Life Insurance Company in the City of New York (US Life). AGL does not solicit, issue or deliver policies or contracts in the state of New York. Guarantees are backed by the claims-paying ability of the issuing insurance company and each company is responsible for the financial obligations of its products. Products may not be available in all states and features may vary by state.
All companies above are wholly owned subsidiaries of Corebridge Financial, Inc. Corebridge Financial and Corebridge are marketing names used by these companies.
This material is general in nature, was developed for educational use only, and is not intended to provide financial, legal, fiduciary, accounting or tax advice, nor is it intended to make any recommendations. Applicable laws and regulations are complex and subject to change. For legal, accounting or tax advice consult the appropriate professional.
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