AIG Life Insurance Review: What you need to know

AIG Life Insurance

AIG is certainly not the latest arrival in the insurance market. In fact, we are talking about the largest insurance company in the world and it serves millions of customers in more than 80 countries. AIG offers several types of life insurance: term, full and universal insurance to individuals. The company also offers a range of insurance and investment products reserved for businesses.

AIG life insurance

Let’s take a full review of the associated life insurance policies offered by AIG. In fact, in this post we are going to summarize their main insurance policies of the main types of insurance that AIG offers:

AIG life insurance policies

AIG offers a very diverse range, such as term and permanent life insurance products, but also Accidental Death and Dismemberment (AD&D) insurance. Taking out an AIG policy is very simple. In fact, it is possible to purchase insurance policies through AIG Direct, an AIG one of their subsidiary or through an independent insurance agent.

AIG term life insurance

AIG offers two term life insurance products: Select-a-Term and QoL Flex Term.

Both of these two types of policies can be converted to permanent coverage at any time during the subscription period. AIG Direct offers 18 different term length options: 10 years, any term from 15 to 30 years or 35 years. Coverage amounts range from $100,000 to $2 million.

And now you are wondering: “but what differences between the two insurance products listed above?”. Well, we can say that the main difference between the two policies is that the QoL Flex product comes with a built-in “Quality of Life” accelerated death benefit, which allows you to withdraw funds from the policy if you are diagnosed with a chronic, critical condition, or terminal while the policy is in effect.

Select-a-Term Expedited Death Benefit applies to terminal illness only, and this can be a problem in chronic illness.

AIG permanent life insurance

AIG offers the following types of permanent life insurance, all with the potential to accumulate cash value:

  • Guaranteed Issuance Life Insurance, with coverage ranging from $ 5,000 to $ 25,000 for applicants aged 50 to 80. Guaranteed Issuance Life Insurance does not require a medical exam or health questions to qualify for coverage. You will not have to prove your health in any way.
  • Universal life insurance, including universal guaranteed and indexed life insurance policies.
  • Universal variable life insurance, which allows you to build cash value through investments.

Some universal and indexed life insurance policies come with quality of life coverage, which includes life subsidies to cover chronic, critical and terminal illnesses. Be aware that Some products are not available in all states.

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AIG customer complaints and satisfaction

Over the past three years, AIG Life Insurance has brought far more complaints to state regulators than expected for a company of its size, according to data from the National Association of Insurance Commissioners.

AIG scored below the industry average for customer satisfaction in the J.D. Power on life insurance in the US in 2020. The insurer ranked 15th out of 23 companies included in the survey.

>>> Learn more: AARP Life Insurance: What You Need to Know

More about AIG life insurance

To get a concrete estimate of the life insurance policy, just go to the AIG website or call the appropriate customer service.

The website features educational content explaining how life insurance works, as well as a term life insurance calculator, while the online portal offers policyholders the ability to pay their bills, see policy details, update beneficiaries, and even more. One of the strengths of this company is its online presence.

In the next section we will see all the pros and cons but first I will list the other services offered by AIG:

  • Travel insurance.
  • Supplemental accident and health insurance.
  • Auto, home, yacht and liability insurance, as well as loss-prevention services for high-net-worth clients.
  • Retirement planning services.
  • Annuities.
  • Home loans.
  • Structured settlements, which allow injury victims to receive compensation over time.
  • Mutual funds.

AIG life insurance pros and cons

Has 18 different length options for term life insurance, extending as long as 35 years.High number of customer complaints to regulators for a company of its size.
Very convenient and practical websiteScored below the industry average for customer satisfaction in J.D. Power’s 2020 U.S. Life Insurance Study.


It should be in your best interest to take a look at many life insurance offers and compare the benefits (Pros and cons) before taking the final decision to buy one. Insurance companies are tricky and it’s always good to take a detailed look at the contracts before agreeing to all the terms.

I hope this helps in guiding you making the right decision on your insurance purchase.

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