AIG Life Insurance Review

AIG life insurance policies provide flexible design options, competitive premium rates, and super simple applications.

This well-known carrier has a long track record of offing quality products, and we strongly recommend exploring what AIG has to offer before making a policy purchase.

Below we take a closer look at AIG Life Insurance to help you make an informed decision.

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AIG Life Insurance Overview

  • Policies available: term, whole life, and universal life 
  • Guaranteed acceptance options for those in poor health
  • Most policies grow cash value
  • Moderate ratings from current policyholders. 
  • Enrollment up to age 85

About the Company

American International Group, Inc., also known as AIG, is an American multinational finance company with worldwide operations. Currently, the company has over 5 million active policyholders and is one of the largest companies in the United States. 

Although AIG offers a full suite of life insurance products, our independent agency specializes in helping seniors with permanent whole life products. Therefore, the review below will focus on AIG’s permanent life insurance options.

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Review of AIG Permanent Life Insurance Options

AIG offers two permanent whole life insurance policies. Traditional whole life and guaranteed acceptance life insurance  

AIG Traditional whole life insurance – provides permanent whole life coverage for moderately healthy individuals. There is an extensive medical exam, and not everyone will qualify. AIG is not very friendly towards individuals seeking life insurance with pre-existing medical conditions.   

This policy requires purchasing a minimum of $50,000 in coverage, which may be much more than needed if you’re looking to cover your final expenses.  Those who qualify for this policy have access to high coverage limits and low premium rates that never increase. 

AIG Guaranteed Acceptance Whole Life Insurance provides permanent whole life coverage without a medical exam or any health questions.  Guaranteed acceptance policies are a last resort option for coverage and are ideal for the elderly and the severely sick. 

This policy provides up to $25,000 in coverage to help pay for end-of-life costs. However, your beneficiary can use the money however they choose. AIG’s guaranteed acceptance offering is available for individuals ages 50 to 85 and is one of the most popular senior life insurance products on the market.

How Competitive Are Their Rates?

AIG’s premium rates are competitive across the board. However, they compete best with their guaranteed acceptance product. 

Many factors contribute to the cost of your policy. Your age, health, state of residence, gender, and policy size all affect your premium rate. Your unique circumstances will determine your premium rate and which carrier can offer you the lowest cost policy. 

AIG Life Insurance Reviews and Complaints

As much as we love AIG’s insurance products, the company has an above-average number of complaints from current policyholders.

Currently, the company has an A- rating with the BBB. However, only 1 out of 5 stars from customer reviews. ConsumerAffairs has over 200 customer reviews for AIG that you can read for yourself.  

Keep This In Mind When Reading Customer Reviews

We advise you to take customer reviews with a grain of salt. Many of the complaints about AIG stem from a misunderstanding of the specifics of their policy. 

Understand what you’re buying: 

Life insurance policies are contracts. And it’s your responsibility to understand the details and provisions of that contract before making a purchase. Individuals who shop for life insurance alone often rush through the buying process without fully understanding their policy.

We highly suggest working with an independent agent when shopping for coverage. Doing so will give you an expert who looks out for your best interest. And someone who can explain the fine print of your policy.

Despite the low customer reviews, we’re here to tell you AIG is a great company. Each year, millions of Americans purchase their products based on policy value and low premium rates.

Compare AIG Life Insurance With Top Competitors

Although we have many positive things to say about AIG life insurance, they may not be the best fit for you.

The truth is, there is no single best insurance carrier. The insurance industry is fiercely competitive. And insurance companies compete with each other by catering to different subgroups of people. The only way to find your best policy option is to compare life insurance companies side by side.  

Let Us Help Find Your Best Policy

Our independent agency is here to help you save both time and money on your life insurance coverage. 

Unlike other agencies, we solely service the senior market. And we’ve become experts at finding affordable guaranteed acceptance and final expense life insurance policies for our clients.

We’ve partnered with all the top-rated carriers offering products to the senior market. Our online quote engine will instantly provide you will personalized quotes from all our trusted carriers.

We’ve helped thousands of people secure quality life insurance funds for their families. We’d love to help you too.

See how AIG compares to top competitors. Fill out the form on your screen to get started. 

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