Retirees Need Simple, Stable Annuity Options: Corebridge
November 21, 2023 by Allison Bell
Multi-year guaranteed annuities (MYGAs) are like the hammer in the carpenter’s toolbox. They’re so common they often get overlooked.
But Bryan Pinsky, president of individual retirement at Corebridge Financial, said in a recent interview that Corebridge is happy to be in the multi-year market.
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article excerpt:
The basics: A MYGA is an annuity contract that pays a fixed, guaranteed rate of interest for a specified number of years.
Multi-year guaranteed annuities contracts accounted for 43% of all first-half individual deferred U.S. annuity sales tracked by Wink surveys. MYGA sales increased 71% between the first half of 2022 and the first half of this year, to $70 billion, as total individual deferred annuity sales increased 24%.