Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.

AIG life insurance review 2020

Last updated:  

This major insurer stands out for offering unique riders and a string of universal life insurance policies.'s rating: 4 / 5


  • 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

$5,000 to $2,000,000



Medical Exam Required


Free quote Online, Phone.
Monthly cost $14/month
Policies Term, Whole, Universal, Quality of Life, Permanent, Guaranteed Issue Whole Life Insurance, Accidental Death Insurance
Coverage maximum $2,000,000
Term lengths 10, 15, 20, 25, 30, 35 years
Riders Accelerated death benefit rider, Accidental death benefit rider, Child rider, Waiver-of-premium rider
Medical exam required Yes
Available states All states except NY and MT
Issue age 20 - 85 years old

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.

How much does AIG life insurance cost?

We pulled quotes to get estimated monthly premiums for a $500,000, 20-year term life policy from AIG for a man and woman in great health.


*Rates are provided by Policygenius and are valid as of August 2020 in all states except New York and Montana.

What affects my rates with AIG?

Along with age and gender, AIG factors your health status and habits into your rate. To reach AIG’s Preferred Plus class, you’ll need to meet some requirements:

  • Blood pressure. Your blood pressure should be 140/85, until age 60 when the number increases to 150/85.
  • Cholesterol and HDL ratio. If your HDL ratio is 5.0 or below, your overall cholesterol must be under 215. For an HDL ratio of 4.5 or below, that cholesterol number increases to 290.
  • Driving record. Your record shouldn’t include DUIs, suspensions or reckless driving over the past seven years.
  • Family history. Your parents can’t have a history of coronary artery disease or cancer before age 60. The restriction lifts after age 65.
  • Personal history. If you’re not age 60, a cancer diagnosis or another impairment may disqualify you for preferred rates.
  • Tobacco use. You must prove that you haven’t touched tobacco over the past five years.

How do I sign up?

With AIG, you can start the quote process online, using theses steps:

  1. 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 to provide a quote and discuss your life insurance options with you.

What types of life insurance coverage does AIG offer?

AIG issues both term and permanent policies. Its lineup includes:

  • Term life. AIG’s term life policy, Select-A-Term, offers temporary coverage for 10, 15, 20, 30 or 35 years. You can convert your policy to a permanent plan before age 70.
  • Universal life. Unlike many insurers, AIG sells seven universal policy options, each offering possible cash value growth as well as flexible premiums and death benefits. Some policies build cash value based on an index’s performance, like the S&P 500.
  • Whole life. The insurer offers a guaranteed issue whole life policy for people between ages 50 and 85. It offers lifelong protection without a medical exam and builds cash value at a fixed interest rate.

Does AIG offer burial insurance?

Yes. Seniors between ages 50 to 85 qualify for AIG’s burial insurance policy, with its coverage ranging from $5,000 to $25,000. The policy is guaranteed-issue coverage, meaning that applicants won’t need a health questionnaire or medical exam to qualify.

AIG also stands out with its living benefits, a rare finding for final expense policies. If you’re diagnosed with a terminal illness, you can access up to 50% of the death benefit to cover medical or other expenses — though you’ll pay an administrative fee.

What riders can I add to my life insurance policy?

You can bridge any gaps in your coverage with the following riders:

  • Accelerated death. Provides an early tax-free payout if you’re diagnosed with a terminal or chronic illness. Policyholders may be eligible for a monthly payout consisting of a predetermined portion of the death benefit.
  • Accidental death benefit. Pays double the death benefit if your death is a result of an accident.
  • Child. 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.

    AIG reviews and complaints

    While AIG isn’t accredited by the Better Business Bureau (BBB), the organization awards AIG a B rating for its customer engagement as of October 2020. This rating reflects that the company hasn’t resolved a handful of complaints filed against it.

    The BBB also records over 300 complaints for AIG since 2017, with most customers complaining about slow responses and trouble with getting claims paid out. However, these ratings reflect the company’s products as a whole, not just its life insurance products.

    In J.D. Power’s 2019 Life Insurance Study, AIG ranked number 24 out of 24 companies surveyed, showing that it has room for improvement with its customer satisfaction.

    AIG finances

    AIG is highly rated for its financial stability, but it’s 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.

    Pros and cons of AIG


    • Range of riders. The insurer offers unusual riders, like the Lifestyle Income rider that lets you withdraw up to 10% of your policy’s value each year after your 85th birthday.
    • Multiple types of universal life policies. If you’re looking for a universal life insurance policy, AIG’s seven options cater to a variety of needs and investment risks. You won’t find this many options with all insurers.
    • Financial strength. AIG has an A (Excellent) rating with AM Best, pointing to its ability to pay claims for the foreseeable future.


    • Lengthy claims process. Extensive paperwork and calls aren’t exclusive to AIG, but you might wait weeks for approval and payment of your claim.
    • Strict underwriting. AIG’s underwriting guidelines are strict compared with competitors, not catering to every applicants’ needs.

      Compare life insurance companies like AIG

      Wondering how AIG’s coverage and benefits stacks up to competitors? Tap the Compare box to see up to four companies side by side.

      Name Product Issue age Minimum Coverage Maximum Coverage Term Lengths Medical Exam Required
      18 - 60 years old
      5, 10, 15, 20, 25 and 30 years
      This life insurance broker combines technology and the human touch to match you with a policy tailored to your needs.
      21 - 54 years old
      10 or 20 years
      Affordable 10- and 20-year term life insurance policies with instant quotes and no medical exams.
      18 - 85 years old
      10, 15, 20, 25, 30 years
      Depends on provider and policy
      Compare affordable quotes from 12+ A-rated life insurance companies side-by-side.
      Everyday Life
      20 - 75 years old
      10, 15, 20, 25 or 30 years
      Build a customized laddering strategy to target specific financial responsibilities and save on term life.
      25 - 60 years old
      10, 15, or 20 years
      Depends on policy
      Get affordable term life insurance with accelerated underwriting or no-exam coverage up to $1,000,000. Available in all states except CA, NY and MT.

      Compare up to 4 providers

      Frequently asked questions about AIG

      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.

      Ask an expert

      You are about to post a question on

      • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
      • is a financial comparison and information service, not a bank or product provider
      • We cannot provide you with personal advice or recommendations
      • Your answer might already be waiting – check previous questions below to see if yours has already been asked

      Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use and Privacy and Cookies Policy.
      Go to site