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AIG life insurance review 2020

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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.
Policy options Term, Whole, Universal, Quality of Life, Permanent, Guaranteed Issue Whole Life Insurance, Accidental Death Insurance
Term lengths 10, 15, 20, 25, 30, or 35 years
Monthly cost $14/month
Claim methods Online
Available states All states except NY and MT
Customer support Phone, Online.
Riders Accidental death benefit rider, Child rider, Waiver-of-premium rider

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 issues both term and permanent policies. Its lineup includes:

  • Term life insurance. AIG’s term life policy, Select-A-Term, offers temporary coverage for 10, 15, 20, 30 or 35 years. You have the option to convert to a permanent plan before the age of 70.
  • Whole life insurance. The insurer offers a Guaranteed Issue Whole Life insurance policy to those aged 5o to 85. It offers lifelong protection and builds cash value over time at a fixed interest rate, and it doesn’t require a medical exam.
  • Universal life insurance. AIG stands out for selling seven universal policies, all of which offer flexible premiums and death benefits, and the potential for cash value growth. Some policies are tied to the performance of an index, like the S&P 500.

Does AIG offer burial insurance?

Yes. Seniors aged 50 to 85 are eligible for AIG’s burial insurance policy, with coverage amounts ranging from $5,000 to $25,000. The policy is guaranteed issue, which means applicants don’t need to fill out a health questionnaire or take a medical exam.

AIG stands out for offering living benefits to policyholders, which is rare 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 will need to pay an administrative fee.

What riders can I add to my life insurance policy?

As a policyholder, you might be able to bridge any gaps in your coverage with the following riders:

  • Accelerated death benefit. 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.


How can I get a low rate?

To reach AIG’s “Preferred Plus” class, you’ll need to meet the following requirements:

  • Tobacco use. You must prove you haven’t touched 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


  • Range of riders. The insurer offers unusual riders, like the Lifestyle Income rider, which allows you to withdraw up to 10% of your policy’s value each year after your 85th birthday.
  • Multiple universal life insurance policies. If you’re looking for a universal life insurance policy, AIG’s seven options cater to a variety of needs and risk tolerances.
  • Financial strength. AIG has an A (Excellent) rating with AM Best, which points to its ability to pay out claims for the foreseeable future.


  • 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.

Compare life insurance companies like AIG

Name Product Issue age Minimum Coverage Maximum Coverage Medical Exam Required
LadderLife™ Life Insurance
20 - 60 years old
Term life insurance with no policy fees and the freedom to cancel anytime. Simple application process that can get you approved for coverage instantly.
18 - 85 years old
Depends on provider and policy
Compare affordable quotes from 12+ A-rated life insurance companies side-by-side.
21 - 54 years old
Affordable 10- and 20-year term life insurance policies with instant quotes and no medical exams.
25 - 60 years old
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.
Haven Life
18 - 64 years old
Customized term life insurance policies up to $3 million, no medical exam for certain applicants.

Compare up to 4 providers

AIG reviews and complaints

While AIG isn’t accredited by the Better Business Bureau (BBB), but the organization awards it an A- rating for its customer engagement.. The BBB records 153 complaints for AIG in the past three years, with most customers complaining about billing issues and the claims process. Customers award the company 1 out of 5 stars.

On J.D. Power’s latest life insurance study, AIG ranked 22 of 23 insures surveyed, and earned 2 out of 5 circles — which suggests there is room for improvement when it comes to customer satisfaction.

How do I sign up?

With AIG, you can start the quote process online. These are the 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.

More about AIG

AIG is highly rated for its financial stability and customer satisfaction, 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.

In addition to life insurance, AIG offers the following products:

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

How do I file a life insurance claim with AIG?

You can file a claim online. You’ll need to complete a claims form, and submit a notarized copy of the policyholder’s death certificate.

To start a claim, go to AIG’s website and navigate to Individuals & Families > Insurance > Life Insurance > File a Claim. You can then check on the progress of your claim by calling the customer service team on 800-888-2452 on weekdays from 7 a.m. to 6 p.m. (CST).

    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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