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AIG life insurance review 2020

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A diverse product lineup, flexible policy options and competitive pricing makes this a popular insurer.

finder.com’s rating: 4.0 / 5.0


Get a quote if…

  • You want to choose from a selection of policies.

Pick something else if…

  • You have a pre-existing condition.

18 to 75

Issue Age

$100,000 to $2,000,000

Coverage Amount

Depends on policy.

Medical Exam Required


Free QuoteOnline, Phone.
Insurance ProductsTerm, Whole, Universal, Variable Universal, Quality of Life
Issue Age18 to 75
Coverage Amount$100,000 to $2,000,000
Term Lengths10, 15, 20, 25, 30, or 35 years
CostAs low as $14 per month
Medical Exam RequiredDepends on policy.
State AvailabilityProducts and product features may not be available in all states.
Customer Service OptionsPhone, Online.
Policy Riders OfferedYes.
Get a FREE quote on Policygenius

Expert review

Julia Cameron

Review by

Julia Cameron is a writer and editor who has experience in finance, mergers and acquisitions, content marketing and immigration law. She has a passion for interior design and an affinity for Old Florida, where she lives with her family.

Expert review

AIG is a strong choice for life insurance if you’re looking for term or universal coverage. Its prices are competitive, but its underwriting guidelines are often stricter than its competitors’ — so it may not be the best choice for those with pre-existing conditions.

What types of life insurance coverage does AIG offer?

AIG offers a range of term, whole, universal and indexed universal life insurance plans, all with flexible policy options.

Its site is clearly structured to outline the benefits of each product, offering details and a free quote online.

Term life insurance

Select-a-Term offers adjustable financial protection over terms of 10, 15, 20, 30 or 35 years. You can convert these policies to a permanent plan up until the end of your level premium period or until you reach age 70 — whichever occurs first.

Whole life insurance

AIG’s Guaranteed Issue Whole Life insurance policy offers permanent coverage to those ages 50 to 85 without the possibility of denial. Level premiums and flexible coverage comes with a guaranteed death benefit. The cash value that accumulates is tax-deferred, and you can borrow against this value for fast access to funds, should you need it.

Universal life insurance

AIG’s seven universal policies are designed to protect your loved ones with a greater potential for cash value accumulation. While generally more expensive than whole life, these policies offer flexible benefits and premiums, allowing you to adjust your policy to suit your specific financial situation. For more stable growth, some policies offer cash value growth tied to the performance of global indices.

What riders can I add to my life insurance policy?

Despite comprehensive policies and flexible plans, you might find that coverage simply isn’t enough.

To bridge the gaps, choose from a variety of riders that include:

  • Accelerated access. Provides an early tax-free payout if you’re diagnosed with a chronic illness. Policyholders may be eligible for a monthly payout consisting of a predetermined portion of the death benefit.
  • Lifestyle income. Allows you to withdraw up to 10% of your policy’s value tax free each year after age 85.
  • Accidental death benefit. Pays double the death benefit if your death is a result of an accident.
  • Children’s protection. Provides temporary coverage for your children up to age 25 and up to a $25,000 maximum.
  • Waiver of premium. Waives premium payments if you become fully disabled.
  • Terminal illness. Allows you to withdraw up to 50% of your policy’s value if you’re diagnosed with a terminal illness.

How much does AIG life insurance cost?

Below are the monthly premiums for a $500,000 20-year term life insurance policy from AIG for an individual in great health. Rates are provided by Policygenius and are valid as of August 2019 in all states except New York and Montana.

Age Male Female
20 $25.22 $19.66
25 $25.22 $19.66
30 $25.94 $20.64
35 $27.23 $23.21
40 $36.46 $30.86
45 $57.88 $44.63
50 $92.08 $68.91
55 $144.88 $107.73
60 $257.65 $185.53
65 $473.00 $338.58
70 $951.18 $672.32
Get a FREE quote on Policygenius

How can I get a low rate?

Finding the best life insurance rate can be difficult if you aren’t aware of your provider’s underwriting guidelines.

AIG’s best rates fall into a “Preferred Plus” class that considers your lifestyle and health status, including:

  • Tobacco use. Preferred Plus members must have abstained from tobacco use over the past five years.
  • Your driving record. Your record must be free of DUIs, suspensions and reckless driving infractions over the past seven years.
  • Cholesterol/HDL ratio. If your HDL ratio is 5.0 or below, your overall cholesterol level must be under 215. For an HDL ratio of 4.5 or below, that number increases to 290
  • Your blood pressure. Your blood pressure should be 140/85 up until age 60, when the number increases to 150/85.
  • Family history. Your parents must not have coronary artery disease or cancer prior to the age of 60. The restriction is lifted after you’ve reached age 65.
  • Personal history. If you’re not yet 60, your overall health must be free of cancer diagnoses and any ratable impairment.

Pros and cons of AIG


  • Strong financial stability. A trusted and financially secure provider, AIG is positioned to fulfill its debt obligations.
  • Strong product lineup. It many life insurance products can meet the needs and financial situations of most customers.
  • Flexibility. Most of AIG’s policies are flexible to some degree. Whether it’s the benefit amount or premium payments, you can adjust your plan to suit your needs.


  • Service many not be personal. You may not be able to foster a direct relationship with the person who sells you your policy.
  • Lengthy claims process. Extensive paperwork and calls aren’t exclusive to AIG, but you might wait weeks for your claims approval.
  • Strict underwriting. AIG’s underwriting guidelines can be strict compared with competitors, which might not meet the needs of all applicants.

Life insurance companies like AIG

Name Product Issue Ages Coverage Range Medical Exam Required State Availability
LadderLife™ Life Insurance
20 - 60 years old
$100,000 to $8,000,000
Not available in New York
Term life insurance with no policy fees and the freedom to cancel anytime. Simple application process that can get you approved for coverage instantly.
21 - 54 years old
$50,000 to $1,000,000
Not available in New York
Affordable 2-, 10- and 20-year term life insurance policies. Instant quotes and no medical exams.
18 - 80 years old
$50,000 to $25,000,000
Depends on provider and policy
All 50 states and D.C.
Get a quote within minutes from more than a dozen insurers.
18 - 100 years old
$50,000 to $3,000,000
This life insurance broker combines technology and the human touch to match you with a policy tailored to your needs.
20 - 85 years old
$100,000 to $2,000,000
Depends on policy.
Products and product features may not be available in all states.
This well-established life insurance provider could offer you $250,000 worth of coverage for as low as $14 per month.

Compare up to 4 providers

AIG reviews and complaints

While AIG isn’t accredited by the Better Business Bureau (BBB), the organization awards it an A+ rating based on business practices, transparency and customer feedback. But many customers complain about billing issues or unexpected fee increases. The company addresses and even resolves these complaints on the BBB website, a good sign that you’re dealing with a reputable company. Elsewhere online, customers praise AIG for affordable options and quick approval while mentioning its lengthy claims process.

How does AIG protect my data?

AIG collects your personal data for business purposes, including processing applications, servicing your account and offering you products and services. Your data is not shared unless AIG has your permission or they are required by law to disclose it.

Keeping your data safe is important to AIG. Physical and electronic procedures are used to safeguard your information, including secure socket layer technology (SSL).

How do I sign up?

With AIG you can request a quote online.

  1. To begin the process, from AIG’s individual life insurance page, click Get A Quote for the type of policy you are interested in.
  2. You’ll be taken to a page where you can enter your personal information, including contact info, nicotine use, birthdate, height and weight, and desired coverage amount. Then click Get Your Free Quote.
  3. An AIG agent will call you shortly to provide a quote and discuss your life insurance options with you.

More about AIG

AIG is highly rated for its financial stability and customer satisfaction, but its had its share of bad press. The company faced controversy after receiving an $85 billion bailout from the US government during the 2008 financial collapse. It’s since rebounded to become one of the world’s largest insurance providers.

In fact, the government received equity in return for its intervention, which it sold for a $22 billion profit in 2012. Despite a turbulent few years surrounding the financial collapse, AIG is back on track with a range of financial services and support that customers rave about.

In addition to life insurance, AIG offers multiple products, including:

  • General insurance. Corporate, travel, quality-of-life and accidental death insurance
  • Retirement products. Group, individual and institutional retirement.
  • Investment vehicles. Mutual funds, annuities and structured settlements.

If AIG’s policies don’t suit your specific needs, it’s worth comparing life insurance providers.

How do I file a life insurance claim with AIG?

Filing a claim with AIG takes time, but its site offers helpful instructions to guide you through what to expect.

1. Visit AIG’s website and click Claims.
AIG life insurance step 1

2. Scroll and click Life Insurance.

AIG life insurance step 2

3. Click Learn About Filing a Life Insurance Claim.

AIG life insurance step 3

4. Click Learn More in the AIG Life Claims Kit.

5. Prepare your documentation that includes:

  • The deceased’s full name and details.
  • A death certificate and obituary, if available.
  • Your original policy contract, if available.
  • Completed HIPAA authorization, if necessary.

6. Confirm that you’ve followed all instructions and checklists before submitting your claim

Frequently asked questions

Life insurance ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

Our experts analyze life insurance companies to help you to find the strongest possible policy and premium for your family’s needs. We assess their financial strength, customer satisfaction, policy features and riders. We then give each insurer a score between one and five stars that reflects their offering and reputation in the industry.

Learn more about our methodology here.

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