Corebridge Financial, Inc. CRBG recently launched its new retirement product, Corebridge MarketLock Annuity, through its American General Life Insurance subsidiary. This new product makes CRBG the only insurer among the top three companies to offer fixed annuities, variable annuities, index annuities and now registered index-linked annuities (RILA). MarketLock contains a unique accumulation strategy coupled with other popular RILA investment strategies in demand by finance professionals.

This move bodes well for CRBG as RILAs are gaining significant popularity due to their ability to balance growth potential with downside protection, making them an increasingly valuable tool for retirement planning, especially among Gen Xers and millennials. The MarketLock Annuity offers 20 customizable strategy account options, featuring Corebridge’s exclusive "Lock Strategy." This strategy locks gains based on S&P 500 Index performance and guarantees a fixed rate until the next contract anniversary, providing clients with a unique blend of growth and security.

In addition to the Lock Strategy, MarketLock offers other popular crediting methods such as Cap, Trigger, and Dual Direction, each designed to maximize earnings potential while mitigating downside risk. These flexible options, combined with Corebridge’s Lock Strategy, ensure financial professionals can tailor solutions to meet diverse retirement needs in unpredictable market environments.

As demand for RILAs increases, recording five consecutive quarters of sales growth, this move positions Corebridge to capture a larger share of the annuity market. Higher sales of this product will directly translate to an improved top line in the future. By expanding its product suite, Corebridge is enhancing its competitive edge.

Other companies that offer RILA include F&G Annuities & Life, Inc. FG, Lincoln National Corporation LNC and Brighthouse Financial, Inc. BHF. Amongst them, FG launched its first RILA in February 2024 while LNC enhanced its Lincoln Level Advantage RILA product in May 2024.

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Lincoln National Corporation (LNC) : Free Stock Analysis Report

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