Why it earned this rating
Our assessment
Pathway Choice Prime (NY) 5-Year is a well-constructed MYGA for a narrow but real audience: New York residents who want a fully guaranteed rate locked for five years with no index exposure and no rider complexity. The no-MVA design is a meaningful plus over competing MYGAs that apply a market value adjustment on surrenders. What keeps it at Good rather than Strong is the thin rate disclosure in the brochure — the tiered rate structure rewards larger deposits, but smaller buyers in the Low Band get materially less, and the minimum guaranteed floor is low enough that the contractual floor provides little real protection if rates are ever reset.
The short version
This is a 5-year single-rate MYGA for New York buyers who want simplicity: put money in, earn a guaranteed fixed rate for five years, take it out. There is no index exposure, no income rider, and no market value adjustment at surrender. The rate is tiered — buyers bringing $100,000 earn more than buyers bringing $25,000, and the $250,000 tier steps up again — which is how most MYGAs work but worth understanding before you sign. For a New York resident who just wants certainty and is not chasing yield, this is a clean option.
Key facts
The full review
Is Corebridge Pathway Choice Prime (NY) 5-Year a Good Annuity?
Yes, for the right buyer. This is a good annuity for a New York resident who wants a 5-year locked rate, no market risk, and a straightforward structure. It is less appealing for anyone outside New York, anyone who wants index-linked growth potential, or anyone shopping mainly for guaranteed lifetime income. If the main goal is certainty and the buyer qualifies for the $100,000 or $250,000 rate tier, the rate structure is competitive for this product type.
Why Someone Would Buy This Annuity
The most straightforward reason to buy Pathway Choice Prime (NY) 5-Year is certainty. A buyer who has taxable savings or IRA money sitting in a low-yield account and wants to lock in a known return for five years without any market exposure gets exactly that. The no-MVA feature also means that if the buyer needs to exit early for an allowed reason — terminal illness or qualifying extended care — the surrender charge is the only cost, not an additional market-rate adjustment on top of it. That is a meaningful structural advantage over MYGAs with both a surrender charge and an MVA.
Who This Annuity Is Best For
I think this product is best for a New York resident in or near retirement who wants principal protection and a known rate of return, is not interested in market-linked crediting, and has at least $25,000 of qualified or non-qualified money to commit for five years. The wide issue age range — 18 to 90 — is unusual and makes it relevant even for older buyers who might be screened out of other products. It is less appealing for someone who wants growth potential, needs frequent liquidity above the free-withdrawal amount, or is shopping across multiple states where competing products are available.
What You're Really Buying Here
You are buying a guaranteed fixed interest rate for exactly five years. The rate is set at issue, remains unchanged for the surrender period, and is not tied to any index or external benchmark. At the end of five years, the rate will reset to current market terms, which may be higher or lower. The contract is issued by The United States Life Insurance Company in the City of New York, a Corebridge Financial subsidiary that is specifically authorized to do business in New York, which is why this product exists as a separate New York variant.
How the Core Feature Works
The crediting is simple: one fixed account, one rate, locked for five years. There are three rate bands based on deposit size — what the brochure calls Low Band, $100,000, and $250,000. As of the brochure date, the approximate rates were 4.20% / 4.45% / 4.50% for contracts in the Low Band, $100,000 tier, and $250,000 tier respectively. An updated rate schedule effective May 2026 showed 4.30% / 4.55% / 4.60% for the same tiers.
These rates are guaranteed for the full five-year surrender period, not just the first year. That is the core appeal of an MYGA versus a traditional fixed annuity that may reset annually. There is no cap, no participation rate, and no index to track — just a rate that does not move until the surrender period ends.
Why the Secondary Feature Matters
The secondary feature worth noting here is the combination of no MVA plus the Extended Care Withdrawal Charge Waiver. Many MYGAs apply a market value adjustment on top of surrender charges when you exit early, meaning two layers of cost if rates have risen. This product does not. The surrender schedule is the only penalty layer.
The extended care waiver adds a meaningful exception for buyers who end up needing nursing home or assisted living care: if 90 or more consecutive days of extended care begin after contract year two, the withdrawal charge is waived. The terminal illness waiver provides one penalty-free partial or full withdrawal for a qualifying diagnosis. Neither replaces liquidity planning, but both reduce the risk of a forced surrender at full cost in a serious life event.
Liquidity and Surrender Schedule
This product is designed for a 5-year commitment. Free withdrawals of up to 10% of the previous anniversary contract value are available after the first contract year, but a minimum balance of $2,000 must remain in the account after any withdrawal. In year one, there is no free-withdrawal access at all outside of waivers.
The surrender schedule steps down from 9% in year one to 5% in year five. There is no market value adjustment, which is a real benefit compared to MYGAs that compound cost with both a surrender charge and an MVA. RMDs attributable solely to this contract are permitted at any time without charge, which matters for buyers holding the contract in an IRA. The return-of-premium guarantee is available at purchase as an option, but it may reduce the initial credited rate.
| Contract Year | Surrender Charge |
|---|---|
| 1 | 9% |
| 2 | 8% |
| 3 | 7% |
| 4 | 6% |
| 5 | 5% |
Fees and Tradeoffs
There are no base contract fees and no rider fees on this product — it is a pure fixed annuity with no optional income rider to attach. The only cost structure is the surrender charge schedule, which is standard for a 5-year MYGA.
The real tradeoffs are structural. The minimum guaranteed interest rate is stated as 0.15% to 3.00% depending on the contract, which is quite a wide range. If interest rates fall significantly after purchase and the contract renews, the minimum floor does not guarantee the rate buyers originally signed up for. That is worth understanding before committing money that might need to renew inside this contract at lower future rates. The product is also exclusively available in New York, which means buyers cannot compare it against the same Corebridge MYGA products sold in other states that may have different terms.
Product snapshot
| Feature | Details |
|---|---|
| Product Type | Fixed Annuity |
| Surrender Period | 5 years |
| Issue Ages | 18-90 |
| Minimum Premium | $25,000 |
| Crediting Methods | Fixed interest rate |
| Free Withdrawal | 10% of previous anniversary contract value after contract year 1; must leave $2,000 in account; RMDs based solely on this contract permitted at any time without charge |
| MGSV | Varies; minimum guaranteed interest rate 0.15%–3.00% per contract |
| Death Benefit | Full account value paid to beneficiary without withdrawal charge |
| Income Rider | Not available |
| Premium Bonus | None |
| Availability | New York only. Not approved in any other state. |
Carrier snapshot
Legal Entity: The United States Life Insurance Company in the City of New York
Parent: Corebridge Financial, Inc.
A.M. Best Rating: A
Final take
Pathway Choice Prime (NY) 5-Year is a clean, no-frills MYGA for New York buyers who want certainty over complexity. The locked 5-year rate, no MVA, RMD-friendly treatment, and extended care waiver give it a solid feature set for its purpose. For a New York resident with IRA or taxable savings sitting in low-yield accounts and a 5-year time horizon, this is a straightforward option worth comparing against other New York-available MYGAs.
The product is less compelling if you are shopping for the highest possible yield, have serious liquidity concerns in years one through three, or are comparing it against non-New York MYGAs that do not have the geographic restriction. The minimum guaranteed rate uncertainty on renewal and the year-one lockout are the main practical cautions. If both of those fit your situation, the product does what it says it does.