Corebridge Direct Life Insurance (previously known as AIG Life Insurance) offers a full range of life insurance products, including whole, term, and universal.
Business Insider compared Corebridge Direct to the best life insurance companies and found it to be a standout company for its variety of offerings. However, customers should be wary of reports of its poor customer service.
Corebridge Direct Life Insurance Pros and Cons
Corebridge Direct Life Insurance Pros
- Relatively low premiums
- Convertible term life insurance
- Wide variety of term options between 10 and 35 years
- Guaranteed life insurance available for seniors between 50 and 80
- Offers policies with no required medical exam
Corebridge Direct Life Insurance Cons
- A higher number of complaints than expected for its size
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$19 for males and $16 for females per month
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Up to $2 million
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A+ (Superior)
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- Term life and whole life
Corebridge Direct Life Insurance Review
Corebridge Financial is a spinoff company from AIG, the life insurance arm of which is called Corebridge Direct. It does not underwrite its own insurance, instead offering policies through a variety of life insurance options, including term, whole, indexed universal, and variable universal insurance.
Corebridge Direct Life Insurance term life insurance is competitive with the best term life insurance, offering competitive rates and very specific term options, with 18 possible terms ranging from 10 to 35 years. It offers several types of whole life insurance, including multiple options for burial insurance.
Corebridge also offers policies that do not require a medical exam to qualify, like its Value + Protector III indexed universal life insurance plan, which allows applicants between 18 and 59 to forgo a medical exam, though the death benefit for no medical exam insurance is limited to $2 million.
Corebridge Direct Life Insurance Plans and Coverage
Corebridge offers a variety of life insurance plans, including term, whole, indexed universal, and burial insurance.
Corebridge Direct Term Life Insurance
Corebridge's Select-a-Term is a term life insurance policy with 18 term periods. Terms can last 10, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30 and 35 years.
Corebridge's term life insurance policy has death benefits ranging from $100,000 to $2 million. Qualified buyers can also convert it to a permanent policy without additional underwriting before the end of the term or until age 70, whichever comes first. Ask a Corebridge Direct agent about guaranteed insurability, if you need a rider, and the cost.
Corebridge Direct Whole Life Insurance
Corebridge offers whole life insurance with benefits up to $2 million. It also offers the following whole life insurance options:
Simplified Issue Whole Life
If you don't want the bells and whistles of a universal life insurance policy but are still looking for a lifelong plan, this whole life insurance option may be a winner. Corebridge's simplified issue whole life insurance offers a no-medical exam option with a death benefit between $5,000 and $35,000.
Corebridge Direct Simplified Issue life insurance plan is primarily a burial insurance plan, intended to cover funerals and other end-of-life coverage. The available benefits are insufficient if you're concerned about paying down a mortgage, paying off debt, or otherwise offering direct protection.
It will also fall short if you're looking for a plan to protect you if you're diagnosed with a terminal illness at any point in life.
Corebridge Direct Guaranteed Issue Whole Life
This whole life insurance policy is upgraded from the simplified issue plan because it has a built-in chronic illness rider and terminal illness rider. Plus, you can stop premium payments at or before you're 90.
The guaranteed issue life insurance policy is available to applicants ages 50 to 80, regardless of health. Like the simplified issue whole life, you can waive the medical exam requirement. However, the policy limit may vary based on your health history and other parts of your application. The minimum coverage amount is $5,000, and the maximum is $25,000.
Again, this policy is primarily meant for funerals and similar costs. If you exercise the terminal illness rider, you may ease some out-of-pocket expenses, but the impact on quality of life will be limited.
Corebridge Direct Universal Life
Max Accumulator + III
The Max Accumulator + III is an index universal life insurance offering tax-free access to the cash value through policy loans and withdrawals. This policy invests your cash value using four index crediting strategies that minimize market volatility.
You can add the Income for Life rider to turn your policy into a guaranteed lifetime income stream. You can also waive the medical exam, but medical questions and a medical records check may still apply.
Applicants must be younger than 59 to qualify. Policies can be as large as $2 million, but if you want a more comprehensive policy, you'd have to look at other plans.
Value + Protector III Indexed Universal
The Value + Protector III policy is also an indexed universal life insurance policy with tax-free access to the cash value through policy loans and withdrawals. This policy invests your assets using four indexing strategies that minimize market risk.
Buyers get a built-in return of premium and a guaranteed death benefit up to 90 years old. You may also be able to forgo a medical exam if you are between 18 to 59 years old and applying for less than $2 million of coverage. Ultimately, the longer you pay into a universal policy, the more significant your death benefit may be.
The Value + Protector III is Corebridge Direct's best permanent life insurance option if you're looking for a retirement vehicle. It also offers the best coverage for medical bills and living costs if you develop a terminal illness.
Additional Coverage Options from Corebridge Direct
- Accidental death benefit: This rider pays a higher death benefit if death results from unintended injuries.
- Accelerated death benefit: Corebridge Direct offers Quality of Life insurance, which offers living benefits to policyholders if they contract a chronic, critical, or terminal illness.
- Child rider: You get an additional death benefit after the passing of a child, up to $25,000 per child. As adults, children can buy separate life insurance policies.
- Terminal illness benefit: This rider pays for care expenses if you become terminally ill.
- Waiver of premium: This extra coverage waives your premium if you become disabled after a six-month waiting period (not available if the policy's death benefit exceeds $5 million). Your life insurance policy stays intact with no further payments.
- Nursing home benefits: You can get a portion of your death benefit to cover nursing home costs while you're still alive if you become terminally ill.
- Limited pay feature: If you reach a certain age, you will only have to pay additional premiums after age 100.
How Much Does Corebridge Direct Insurance Cost?
The average cost of life insurance, specifically a $500,000, 20-year term life insurance policy, is $22.98 for a 30-year old female and $29.32 for a 30-year-old male. Meanwhile, according to Policygenius, the average price of the same policy at Corebridge Direct Life Insurance is $15.76 for females and $18.67 for males. Rates at this firm are generally lower than the industry average.
We obtained the following quotes for Corebridge Direct term life policies with a 20-year term and $500,000 death benefit:
| Age | Sex | Corebridge Direct cost (monthly) | Industry average (monthly) |
| 20 | Male | $18.26 | $30 |
| Female | $14.94 | $23 | |
| 30 | Male | $18.67 | $29 |
| Female | $15.76 | $23 | |
| 40 | Male | $29.21 | $43 |
| Female | $25.01 | $35 | |
| 50 | Male | $69.46 | $102 |
| Female | $55.57 | $78 | |
| 60 | Male | $205.29 | $269 |
| Female | $141.34 | $194 |
Source: Policygenius
How to File a Claim with Corebridge Direct
To open a claim with Corebridge Direct, you must fill out its online death claim form. You'll need the policyholder's information and cause of death. You'll also need to provide the policy number and your personal information.
You can contact Corebridge Direct by phone, mail, and fax for further assistance. You must have an account to reach the team via email.
Phone: 1.800.448.2542
Mail: Corebridge Retirement Services, PO BOX 15648, Amarillo, TX 79105-5648
Fax: 1.877.202.0187
Corebridge Direct Customer Reviews and Ratings
Corebridge Direct has overwhelmingly negative reviews, receiving an average of 1.6 stars out of five on its Trustpilot page and a 1.05 on its Better Business Bureau page.
That said, according to the National Association of Insurance Commissioners, the company has fewer complaints than expected, given its share of the market. It has a Company Complaint Index score of .54, in which 1.0 indicates an expected number of complaints.
Corebridge Direct received an A (Excellent) rating from AM Best in financial stability.
Corebridge Direct Life Insurance Alternatives
Corebridge Direct Life Insurance vs. Prudential Life Insurance
Corebridge has competitive prices for all ages and health classifications. However, Prudential may have the most affordable rate if you're a senior shopper. Prudential offers more extensive plans designed for retirement planning, medical costs later in life, and other benefits specific to high-value life insurance plans. Particularly for young, healthy borrowers, the pricing on more extensive plans may be more manageable than expected.
Prudential received an NAIC Consumer Complaint Index score of 8.65, well above the industry average. Corebridge has a score of 0.54, significantly below the industry average.
Prudential received an A+ (Superior), and Corebridge Direct received an A (Excellent). Both companies are financially stable, but it's worth noting that Corebridge has only been an operating since 2022.
Read our Prudential life insurance review.
Corebridge Direct Life Insurance vs. Legal & General Life Insurance
Legal & General Life Insurance and Corebridge are evenly matched in price and customer service. Both companies have term policies and lower-value plans. However, Banner has a shorter list of life insurance plans, including universal and term. Additionally, Corebridge Direct's guaranteed acceptance plan for senior buyers and permanent policy offering limits up to $2 million are more generous than current Banner Life offerings.
Legal & General Life Insurance has term lengths of up to 40 years, some of the highest seen in the industry. So, if you're looking for extended coverage for temporary life insurance, you may lean toward Legal & General Life Insurance. However, Corebridge allows customers to get more granular with their terms, offering 18 term length options between 10 to 35 years.
JD Power did not rank Banner Life Insurance on its annual life insurance survey. Corebridge Direct earned 19th place with 744 points, below the industry average. However, a 744 still indicates high customer satisfaction. In addition, some independent review sites, such as TrustPilot, rate Legal & General Life Insurance highly.
Legal & General Life Insurance received an A+ (Superior) for Direct strength from AM Best, while Corebridge received an A (Excellent). In addition, Legal & General Life Insurances complaint index score is 0.35, significantly lower than the industry average. Corebridge also received a good score of 0.54, having fewer complaints than the industry. In short, both companies are likely to be around to pay claims, whether it's you or your beneficiaries filing.
Read our Legal & General Life Insurance life insurance review.
Corebridge Direct Life Insurance vs. Lincoln Financial Life Insurance
Your chosen company may determine whether customer service or affordable rates are more important to you. Lincoln Financial offers slightly better customer service, and Corebridge offers slightly better rates.
Lincoln Financial earned 764 points on the JD Power life insurance survey, slightly below the industry average. Meanwhile, Corebridge Direct Corebridge received 744 points at 19th place. However, a 20-year term policy with a $500,000 payout would cost a 20-year-old male $26.51 monthly for Lincoln Financial and $18.26 with Corebridge.
Something to consider is that Lincoln Financial is friendly to recreational marijuana users. It also offers competitive rates. Most of Corebridge Direct's plans center around funeral costs and other limited costs. Lincoln offers three universal life insurance plans for varying returns on your investment. It also provides more comprehensive policies designed for aggressive financially planning.
Read our Lincoln Financial life insurance review.
Why You Should Trust Us: How We Reviewed Corebridge Direct Life Insurance
Business Insider evaluates a company's reliability through the number of complaints received and its financial strength.
We used the National Association of Insurance Commissioners (NAIC) complaint index data to determine the number of grievances filed against the company. The industry average complaint index score is 1.00. If a company scored above the complaint index, it received more complaints than the industry average.
We also use tools such as AM Best and JD Power's annual life insurance survey to offer objective comparisons and reviews. Corebridge Direct has an A (Excellent) rating for financial stability and is ranked 19th in the JD power surveywith 744, which is below the industry average.
We look to independent review sites and other resources if the product does not have JD Power, AM Best, and other scores.
Read more about Business Insider's life insurance rating methodology.
FAQs
Does Corebridge Direct offer policies without a medical exam?
Yes, Corebridge Direct offers policies without a medical exam, though you may have to settle for a lower death benefit. Additionally, applicants over a certain age may need to take an exam. For more life insurance policies that don't require an exam, read our guide to the best no medical exam life insurance.
Is Corebridge Direct Life Insurance a good company?
Corebridge Direct is a legitimate and reliable company. It has a low complaint index score from the NAIC and an A (Excellent) for financial stability, indicating bright economic prospects for the company.
How can I get a quote for Corebridge Direct?
You can get term life quotes for Corebridge Direct on Policygenius. However, permanent life insurance quotes are only available by calling Corebridge Direct over the phone.
