AIG (Corebridge) Living Benefits: What You Need to Know
AIG, now operating under the name Corebridge Financial for its life insurance and retirement services, offers a wide range of policy options designed to provide protection during and beyond your lifetime. One standout feature in several of its life insurance products is the inclusion of living benefits—features that allow you to access part of your death benefit while still alive if you face a serious illness or medical condition.
Whether you're considering term or permanent life insurance, understanding how Corebridge’s living benefits work can help you choose a policy that protects not just your family’s future, but your financial needs today.
What Are Living Benefits?
Living benefits, also called accelerated benefit riders, provide early access to a portion of your life insurance policy’s death benefit in case of:
- Terminal Illness – Certified life expectancy of 12–24 months or less
- Chronic Illness – Inability to perform two or more activities of daily living (ADLs), or severe cognitive impairment
- Critical Illness – Conditions such as cancer, stroke, heart attack, kidney failure, or major organ transplant
The amount available varies but is typically capped at a percentage of the policy’s total face value and may depend on your age, diagnosis, and policy type.
Corebridge Life Insurance Policies With Living Benefits
Corebridge (AIG) offers living benefits across a variety of its products, including:
1. QoL Flex Term
This term life insurance policy includes living benefits for terminal, chronic, and critical illnesses. It offers high flexibility and competitive premiums.
2. QoL Max Accumulator+ (Indexed Universal Life)
A permanent policy that builds cash value and includes access to living benefits, plus tax-deferred growth potential.
3. QoL Value+ Protector
A universal life policy that combines guaranteed protection with living benefit riders and cash accumulation features.
Living benefits in these products are typically built-in, meaning you won’t pay extra to add them, though administrative fees may apply at the time of claim.
How the Living Benefits Work
If diagnosed with a qualifying illness, you can file a claim to accelerate a portion of your death benefit. The payout process generally follows these steps:
- Diagnosis and Documentation – Submit proof from a licensed physician
- Claim Review – Corebridge evaluates your condition and determines payout eligibility
- Payment – If approved, a portion of your death benefit is paid directly to you, and the remaining amount is reserved for your beneficiaries
The payout amount is determined based on illness severity, life expectancy, policy value, and other underwriting factors.
Key Advantages of Corebridge Living Benefits
- No Extra Premium – Living benefits are often included in the base policy cost
- Wide Coverage – Covers terminal, chronic, and critical illnesses, offering broader protection
- Flexible Use – Funds can be used for medical bills, home care, travel, debt, or anything else
- Applies to Both Term and Permanent Policies – Not limited to one product type
Things to Watch For
- Reduced Death Benefit – Any accelerated payout lowers the final amount your beneficiaries receive
- Administrative Fees – May apply when you access the benefit
- Claim Review Timeline – Approval may take time depending on documentation and case complexity
- Not Available in All States – Availability and terms can vary based on location and product
Who Should Consider These Benefits?
- Individuals with a family history of serious illness
- Primary earners seeking financial protection in case of a health crisis
- People looking for both life insurance coverage and the flexibility of living benefit access
- Those who want term or permanent coverage with added value
Final Thought
Corebridge (formerly AIG) has created a strong portfolio of life insurance options that offer not just death protection, but living support as well. With built-in access to funds in case of terminal, chronic, or critical illness, their living benefit features help turn a traditional life insurance policy into a dynamic financial resource.
If you’re shopping for life insurance and want added protection for real-life situations, consider a Corebridge policy that includes living benefits. It could provide peace of mind and practical support when you need it most.