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New York Life's core product is whole life insurance, a type of life insurance offering lifelong protection that builds cash value over time. New York Life also sells term life insurance, universal life insurance, variable universal life insurance, long-term care insurance, annuities and disability insurance.
The Variable Annuity Life Insurance Company, or VALIC, a subsidiary of Corebridge Financial, Inc., (CRBG), is an insurance corporation that specializes in tax-qualified retirement plans, supplemental tax-deferred and after-tax investments. VALIC's headquarters are in Houston, Texas.
During his tenure the Company expanded significantly and the developed new coverages including the first substandard-risk accident and health policy in 1963. In 1965, Mutual Life became the first New York firm to enter the group variable-annuity field. By 1971, assets totaled nearly $4 billion and insurance in force was nearly $17 billion.
The death benefit in a variable annuity provides a safety net in case the annuitant dies before their payments begin. The specific workings of the death benefit can vary among different annuity ...
Variable annuities. Premium payments into a variable annuity are invested in one or more sub-accounts which are similar to mutual funds . The value of the annuity is determined by the performance ...
The variable annuity market experienced tremendous growth over the past decade. The introduction of a product which guarantees lifetime income payments while providing the opportunity for market ...