AIG Life Insurance Review

I'm Donny. I'm a world traveler, investor, entrepreneur, and online marketing aficionado who has a big appetite to compete and disrupt big markets. I thrive on being able to create things that impact change, difficult challenges, and being able to add value in negative situations.

AIG offers some great options concerning life insurance, including flexible term life insurance plans, guaranteed whole life insurance, and variable life insurance. Their prices fall slightly higher than some insurance companies, but they’re not unreasonable. 

Due to some negative customer service ratings and reviews, you might stray from this company. However, professional ratings from organizations like Consumers Advocate shed light on their significant policies.

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Pros & Cons

Any life insurance company you work with is going to have its own set of pros and cons. Before we dive into the details, let’s take a look at some of AIG’s pros and cons.


  • Several options in terms of coverage types
  • Lots of flexibility in term life insurance
  • Options to grow cash
  • Opportunities to access money while still alive


  • Poor customer service ratings
  • Policies aren't really designed for younger individuals.

Are you tired of searching for the best life insurance at the best possible price? We get it - there are so many options out there, and it can feel hard to know where to start. 

The truth of the matter is that most Americans overestimate the cost of term life coverage by more than three times the actual cost. That’s good news, right? Right. 

That being said, we’d like to take a look at one company in particular: AIG. AIG, or the American International Group, is a leading global insurance organization active in about 80 different countries. 

That’s an impressive number, but does the company’s life insurance policy live up to the standard? Check out our AIG life insurance review to find out!

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Quick Summary

Products: Term, Universal, & Guaranteed Issue

Pricing: Depends on policy and term

Promotion: No current promotions

About American International Group

As we mentioned above, AIG is a primarily recognized global insurance organization. This company provides a wide range of services, including:

  • General insurance 
  • Casualty insurance 
  • Retirement solutions 
  • Financial services
  • Life insurance 

AIG dedicates a significant portion of its business efforts to its clients, surrounding communities, and social issues. 

As far as their life insurance plans go, AIG understands its importance in financial and retirement planning. Their life insurance policies are designed to help the insured’s families and contribute to the individuals’ viable options. 

Insurance Policy Options

AIG offers two main types of life insurance:

  • Term life insurance
  • Permanent insurance

Let’s break these down a little more to understand better what each offers.

Term Life Insurance

Term life insurance allows a client to have coverage for a particular, specified period. AIG offers 18 different term durations that let their clients choose the amount of coverage they need and what period they need it. 

Their most extended temporary term is 35 years, which is pretty significant. Other term options include ten years and anywhere between 15 to 30 years. The coverage amounts under these plans can fall between $100,000 to $2 million. 

Term life insurance policyholders can also convert their policy at any time, should their need change.

Permanent Life Insurance

You can choose from three different permanent life insurance policies under AIG: 

  • Universal life insurance
  • Guaranteed issue whole life insurance
  • Variable life insurance 

Universal life insurance includes with it index universal life, guaranteed universal life, and variable universal life. These three components include things like:

  • Supplemental retirement income 
  • Protection for families and businesses 
  • Cash accumulation 
  • Tax diversification

Guaranteed issue whole life insurance from AIG offers a lifetime of insurance with guaranteed coverage between $5,000 and $25,000 for ages 50 to 80 - no matter what. This AIG plan is designed to be easy, affordable, and practical. 

AIG’s variable life insurance plan allows existing policyholders the opportunity to accumulate cash through investments, along with their current life insurance plan.

How Much Does AIG Life Insurance Cost?

AIG calculates its life insurance rates by a variety of factors:

  • Age
  • Gender
  • Medical history
  • Body mass index
  • Lifestyle choices

Below are some average costs for each type of life insurance with AIG.

Term Life Insurance

Females at the age of 50 can pay $22 per month for term life insurance on a 10-year plan. Males of the same age pay $25 per month for that same period. 

This plan includes flexible term lengths and death benefits.

Universal Life Insurance

For universal life insurance with AIG, females at the age of 50 pay $199 per month for $250,000 worth of coverage. 50-year-old men pay $239 per month for that same coverage, and both get accumulated cash value and adjustable guaranteed death benefits.

Guaranteed Issue Whole Life Insurance

This life insurance gives men and women at the age of 50 $5,000 worth of coverage. Females pay $20 per month, while males pay $29 per month. These plans include guaranteed acceptance and living benefits.

Who is AIG Life Insurance Best For?

AIG’s life insurance options offer great deals for those looking for affordable yet flexible policies. In general, individuals between the ages of 50 to 80 may benefit most from these plans. 

People who fall in this age range are guaranteed coverage without meeting any specific requirements. 

AIG Alternatives

Policygenius logo
  • Offering: Insurance quotes
  • Fees: Free to use
  • Promotion: No current promotions
Haven Life
Haven Life logo
  • Offering: Term Life
  • Fees: as low as $7 per month
  • Promotion: No current promotions
Bestow logo
  • Offering: Term Life
  • Fees: as low as $8 per month
  • Promotion: No current promotions

Is AIG Life Insurance Worth It?

While the basic facts make AIG out to be a pretty good life insurance company, professional ratings and customer reviews say otherwise. 

J.D. Power itself gives the company just 2 out of 5 stars, stating that the company’s complaint index was significantly higher than other insurance companies. 

Despite this report, the Better Business Bureau gives the company an A+ rating and only lists nine negative customer reviews. The company scores high in company stability, reputation, and coverage. 

All in all, despite a few bad reviews concerning customer services, AIG life insurance offers a wide range of coverage, flexible plans, and decent, albeit slightly higher than average, pricing. 

You can always head over to AIG’s insurance website to start the process by getting a quote! 

AIG Life Insurance FAQ's

Still have questions? That’s okay - life insurance is an essential step in life. The more you know, the better. We have some helpful FAQs for you to explore below.

Is AIG Life Insurance reliable?

AIG is a highly respected global company with excellent financial stability, which is critical for its clients. It is a wholly-owned subsidiary, meaning that clients should have no worries concerning claims and payouts. 

How long does it take AIG to pay life insurance?

AIG’s website ensures that most life insurance claims will process between 30 and 45 days, so long as all premium payments are up to date and the policy was in effect. 

Can I cash out my life insurance policy?

Some life insurance policyholders with AIG may be able to cash out their policies while they’re still alive under certain circumstances. These are known as living benefits or accelerated benefits. 

Specific plans allow policyholders to cash out their benefits for the following reasons:

  • Chronic illnesses
  • Critical illnesses
  • Terminal illnesses
  • Long-term care

You may also be able to surrender your policy, in which case the policy is canceled, and you will receive the policy’s cash value at that time. 

However, this means you no longer have access to any death benefits. You may also have to pay surrender fees. Cash value options do not exist for term life insurance.

What does AIG Life Insurance cover?

Life insurance can help cover some or more of the following when the policyholder passes away:

  • Funeral expense
  • Medical bills
  • Monthly bills
  • Outstanding debt
  • Childcare costs
  • Education
  • Inheritance

A life insurance claim may be rejected in suicide, homicide, fraud, or non-accidental death cases.

AIG Life Insurance

AIG provides life insurance that helps protect ones you love with term, universal, and guaranteed issue whole life.

AIG insurance icon

I'm Donny. I'm a world traveler, investor, entrepreneur, and online marketing aficionado who has a big appetite to compete and disrupt big markets. I thrive on being able to create things that impact change, difficult challenges, and being able to add value in negative situations.

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