Guaranteed death benefits
In the event of your death prior to annuitization, Portfolio Director offers guaranteed death benefits to your beneficiary. Whether you contribute to fixed or variable investment options, Corebridge Financial Retirement Services guarantees that your beneficiary will never receive less than the amount you contributed, less any prior withdrawals and outstanding loans. Guarantees are subject to the claims-paying ability of the insurance company.
For your investment in the fixed options
Your beneficiary will receive the greater of either the value of your fixed options, or the sum of your contributions to fixed options, less any withdrawals, outstanding loans or transfers to variable options. Also, during the accumulation phase, fixed options earn competitive interest at a rate that is guaranteed never to be less than 3%.
For your investment in the variable options
If you die before age 70, your beneficiary will receive the greater of either the value of your variable options, or the sum of your contributions to the variable options (less withdrawals, outstanding loans or transfers to a fixed option), plus interest at an annual rate of 3%.
Also, in the event of your death, your death benefit proceeds pass directly to your named beneficiary. This generally avoids the cost and delays of probate. Your beneficiary can choose to withdraw — without Corebridge Financial Retirement Services charges — the entire account balance, or leave all or a portion of it on deposit. If an account balance is left on deposit, the beneficiary can make withdrawals whenever he or she chooses, subject to Internal Revenue Code requirements, with no Corebridge Financial Retirement Services charges.
To obtain a Portfolio Director prospectus and underlying fund prospectuses, visit www.corebridgefinancial.com/retirementservices or call 1.800.448.2542 and follow the prompts. The prospectuses contain the investment objectives, risks, charges, expenses and other information about the respective investment company that you should consider carefully before investing. Please read the prospectuses carefully before investing or sending money. Policy Form Series UIT-194, UITG-194 and IITG-194P.