Corebridge: New Term Rates with No Increases!
05-22-2023
Effective May 22, 2023, Select-a-Term is repriced in all states, except New York. These days, it seems like prices are going up everywhere: except for Corebridge's term products. The lower rates can be seen across all bands!
• Pricing: There are no premium increases, and roughly 30% of cells have lower premiums with an average decrease of roughly 1.5%.
• Low monthly modal factor remains at 8.45% and continues to put Select-a-Term among the top term products in the market today.
• Faster decisions: Agile Underwriting+ provides the opportunity to avoid the paramed and receive the offer 24 hours after the interview.
• Rated case advantage: Select-a-Term continues to offer some of the very lowest premiums for rated cases leveraging Special Class.
Transition Rules
Quick Ticket & Paper applications
- New premium rates will be available effective May 22, 2023
- Applications received in the Home Office prior to May 22, 2023, will receive the old premium rates
- Applications received in the Home Office May 22, 2023, and later will receive the new premium rates
- Reissue requests to new rates will NOT be honored
- New applications submitted to replace existing inforce coverage with the new rates will not be honored within 90 days of the existing coverage going inforce
iGO full eApp
- New product rates will be available effective May 20, 2023
- Applications received in the Home Office prior to May 20, 2023, will receive the old premium rates
- Applications received in the Home Office May 20, 2023, and later will receive the new premium rates
- Reissue requests to new plan will NOT be honored
- New applications submitted to replace existing inforce coverage with the new rates will not be honored within 90 days of the existing coverage going inforce
Your next Corebridge term application can be submitted quickly through Vive!
Please give our sales team a call at 800.792.6795 if you have any questions.