Corebridge: New Select-a-Term Rates 02/21
02-21-2023
Better Term Rates
Effective February 21, 2023, Select-a-Term is repriced in all states, including New York. In all states except New York, well over 90% of cells have lower premiums with an average rate reduction of nearly 2%.1 In New York, more than 80% of cells have lower premiums with an average reduction just over 4%.2
Nationally, the lower rate trend can be seen across all bands. And face amounts $500,000+ are now even more competitive!
Low monthly modal factor
Nationwide, the low AGL monthly modal factor remains 8.45% and continues to put Select-a-Term among the top term products in the market today.
Face amounts $500,000+ are now even more competitive
- Top 2 ranking in 89% of the monthly premium cases1
Agile Underwriting+
- Fast: Opportunity to avoid the paramed and receive the offer 24 hours after the interview
- Clear: Improved detail on underwriting offer explanations
- Simple: Optional Agent completed Part B within iGO full eApp. Receive decision 48 hours after submission.
- Reliable: Increased underwriting offers as applied for
Rated case advantage
- Select-a-Term continues to offer some of the very lowest premiums among leading carriers for rated cases leveraging Special Class.
Transition Rules
AG Quick Ticket & Paper applications
- New product rates will be available effective February 21, 2023
- Applications received in the Home Office prior to March 20, 2023, will manually be given the product with the lowest rates prior to policy issue
- This does NOT apply to previously issued or conditionally issued policies
- Applications received in the Home Office March 20, 2023, and later will automatically be given the new product 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
iGO full eApp
- New product rates will be available effective February 18, 2023
- Applications received in the Home Office prior to March 20, 2023, will manually be given the product with the lowest rates prior to policy issue
- This does NOT apply to previously issued or conditionally issued policies
- Applications received in the Home Office March 20, 2023, and later will automatically be given the new product 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
Corebridge Select-a-Term is available to submit through Vive!
Please give us a call at 1.800.792.6795