Assured Edge Income Achiever
As retirement approaches, securing a stable financial future becomes a top priority for many. The Assured Edge Income Achiever annuity could be the ideal solution, offering a guaranteed lifetime income. This fixed annuity, provided by Corebridge Financial, has a 10-year term.
In this review, we will explore the Assured Edge Income Achiever annuity to help you determine if it is the right choice for your retirement planning.
About Corebridge Financial
Assured Edge Income Achiever, provided by Corebridge Financial, an affiliate of American International Group (AIG), is a fixed annuity. Established in 1850, the company has built a solid reputation within the insurance sector.
As one of the leading providers of retirement solutions, Corebridge Financial offers a comprehensive range of products and services tailored to the diverse needs of individuals and families. Headquartered in New York, the company is recognized for its exceptional customer service and extensive product portfolio.
Corebridge Financial empowers individuals to pursue financial stability, making it a preferred choice for those seeking annuity options.
Corebridge Financial Rating
Rating Company
Rating
Moody’s
A2
S & P
A+
A.M. Best Rating
A
Comdex
80
Assured Edge Income Achiever Highlights
-
10-Year Fixed Annuity
The Assured Edge Income Achiever annuity is a 10-year fixed annuity with MVA, penalty-free withdrawal privileges, and other riders. -
Annual Free Withdrawals
The Assured Edge Income Achiever annuity offers penalty-free annual withdrawals without incurring surrender charges and market value adjustments (MVA). You can withdraw up to 10% of the contract value as of the previous contract anniversary.
*Keep in mind that withdrawing money from your annuity before activating lifetime income will reduce the income credit and your guaranteed lifetime income amount (GLIA). This includes required minimum distributions (RMDs), which don't incur a withdrawal charge or market value adjustment (MVA). After the income activation date, any withdrawal exceeding the GLIA, except for permitted RMDs, will also reduce the GLIA. -
Flexible Annuity Changes
With the Assured Edge Income Achiever, you will have the opportunity to change or add the person covered under the contract before starting lifetime income. This flexible change might be beneficial for people who are going through a divorce, death, or marriage. -
Death Benefit
The Assured Edge Income Achiever offers a death benefit that lets the beneficiary receive 100% of the Account Value without withdrawal charges or MVA. -
Terminal Illness
Another waiver Assured Edge Income Achiever has is a terminal illness. In case the annuity holder is diagnosed with a terminal illness after the contract date, either a full or partial withdrawal will be allowed.
Assured Edge Income Achiever Overview
🔔 Important Information
Annuity Term
10 years
Type of Annuity
Fixed
Interest
2.25%
Premium Type
Single Premium Annuity with Additional
Maximum Issue Age
80 years
Withdrawal Charge Schedule
10%
Minimum Premium
$25,000
Maximum Premium
$2,000,000
RMD
Yes
Market Value Adjustment
Yes
Assured Edge Income Achiever Historical Rate of Return
The hypothetical historical performance provided herein showcases the annualized return of allocation strategies, representing the investment's annual growth rate considering compounding effects. Similar analyses can be found for each account in official fixed index annuity illustrations provided by insurance carriers.
What's not reflected:
The annualized return does not encompass rider charges, strategy fees, or applicable premium bonuses.
Notes on rates:
The information presented assumes the annuities' current caps, spreads, participation rates, and other related rates, without guarantee.
No guarantees:
These actual elements are subject to change over time, resulting in potentially higher or lower outcomes. Additionally, no single index consistently outperforms in every scenario. It is advisable to consult with a properly licensed and educated annuity professional before making any decisions.
Fees and Charges
As long as you withdraw the permitted penalty-free amount each year, you won’t incur any extra fees or changes. There is an inbuilt rider opportunity, Assured Edge Income Achiever GLWB, which charges 0.95% annually.
Flexible Payment Options and Lifetime Income Security
With the Assured Edge Income Achiever annuity, you can receive income on a monthly, quarterly, semi-annual, or annual basis. You are free to choose whichever option suits you the best.
After your first lifetime income withdrawal, your guaranteed lifetime income amount is locked, meaning it will no longer grow with annual income credits.
You or your spouse can rely on the guaranteed income the annuity provides as long as you stay within the withdrawal limits.
Built-In Protection
The Assured Edge Income Achiever annuity features built-in protection in case of unexpected life situations. The annuity holder can take advantage of free withdrawals under the following benefits:
- Extended care – available after receiving extended care for at least 90 consecutive days after the first year of the contract.
- Terminal illness - available if the annuity holder is diagnosed with a terminal illness after the contract date.
- Activities of daily living - available if the policyholder is unable to perform at least two of six activities of daily living for at least 90 consecutive days after the first year of the contract.
Annuity Surrender Charge Schedule
As with any annuity, Assured Edge Income Achiever offered by Corebridge Financial also comes with surrender charges. These charges are applied as a percentage of the Account Value that is withdrawn in excess of the penalty-free withdrawal amount.
Here is a 10-year interest rate for the annuity:
*The interest rate may vary depending on the state.
Assured Edge Income Achiever Features
The Assured Edge Income Achiever annuity comes with main features that can be the pivotal factors influencing your decision of whether to commit or not to the annuity. Here are some of them:
Market Value Adjustment (MVA)
- When interest rates at the time of withdrawal are higher than when the contract was issued, the MVA will decrease the withdrawal amount.
- When interest rates are lower, the MVA will increase the withdrawal amount.
If an MVA decreases the amount, the withdrawal will not be reduced to less than the minimum value specified in your contract or MVA endorsement. - MVA is not applied to a death benefit, permitted RMDs, 10% penalty-free withdrawals, and annuitization.
Annuitization
- After the third year of the contract, the policyholder can annuitize the contract. It means your contract will be converted into a series of payments.
- Withdrawal charges and MVA will not be applied.
- In case of annuitization, the GLWB will be canceled, along with the lifetime income withdrawals.
Pros and Cons
- RMD-friendly
- Crisis waivers available
- Annuitization option available
- Flexible withdrawals
- High minimum investment ($25,000)
- 10-year surrender charge
- Possible market value adjustments on withdrawals
Key Takeaways
Assured Edge Income Achiever is a 10-year term annuity that provides a reliable income stream for life, hence making it a suitable investment for many retirees. With flexible withdrawals and locked-in income amounts, your income will be fixed, ensuring stability.
The annuity also offers free withdrawals of up to 10% without incurring any penalty. In addition, free withdrawals become available under certain conditions we’ve discussed above.
This fixed annuity combines security with growth potential, offering the peace of mind and financial stability that many retirees seek.
If you are unsure whether Assured Edge Income Achiever is what you need, take our Annuity Quiz to explore more annuity products.
Company information
Company Name
Corebridge Financial
Website
Phone Number
800-448- 2542
A.M. Best Rating
A (excellent)
Moody’s Best Rating
A2 (sixth-highest)
S&P'S BEST RATING
A+ (middle of the investment grade)
About the Product
Product Name
Assured Edge Income Achiever
Product Type
Fixed Annuity
Launch Date
01/07/2019
Product Information
Assured Edge Income Achiever is a fixed annuity offered by Corebridge Financial and designed to provide a guaranteed lifetime income.
It’s a 10-year term annuity that features free withdrawals of up to 10% of the contract value as of the previous contract anniversary.
As soon as you begin withdrawals, your income amount is set, ensuring consistent payments for as long as you or your spouse live.
Account Types
Non-Qualified, 401k, IRA, IRA Rollover, IRA Transfer, TSA 403b, SEP IRA, KEOGH, IRA-Roth, 1035 Exchange, and TSP
Not Available In
n/a
Annuity Expert
Jeremiah Konger
PS - Here's 3 ways we can help you learn more about annuities.
1. Watch Videos on How to Identify The Highest Paying Protected Income & Growth Annuities.
2. Watch Videos That Reveal What to Look For When Buying A Protected Growth Annuity.
3. Click Here To Access Our Annuity Review Vault To Compare The Pro's and Con's of Dozens of Annuities.
Other Corebridge Financial Fixed Index Annuity Products
Corebridge Financial offers other annuities besides the Assured Edge Income Achiever that you might find profitable. You can explore both fixed and indexed annuities that may be a better fit for you.
Power 5 Protector®
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Assured Edge Income Builder
Assured Edge Income Builder is a fixed annuity from Corebridge Financial, offering guaranteed income and flexibility for retirement planning.
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