Corebridge Financial announced the launch of its new Registered Index-Linked Annuity (RILA) product, the Corebridge MarketLock® Annuity, on October 7, 2024. This new offering is issued by the company's subsidiary, American General Life Insurance Company. The MarketLock® Annuity features an exclusive accumulation strategy designed by Corebridge, alongside popular RILA investment strategies.
The introduction of the MarketLock® Annuity is a strategic move that positions Corebridge Financial as the only top three annuity provider to offer products across every major annuity category. This broad product suite is expected to meet diverse customer and financial professional needs, enhancing the company's competitive standing in the retirement solutions market.
This product launch is anticipated to drive organic growth within the Individual Retirement segment. Expanding into the RILA market allows Corebridge to capture new opportunities and cater to evolving customer demands for both growth potential and principal protection in their retirement savings.
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