Comprehensive AIG Life Insurance Review: What You Need to Know

May 09, 2024 By Triston Martin

When considering life insurance options, AIG emerges as a notable contender, known for its wide range of policies designed to meet diverse needs. Whether you're a young professional just beginning to think about financial security, a parent seeking to protect your family's future, or navigating the complexities of estate planning, AIG's comprehensive suite of life insurance products likely offers a solution that fits your circumstances. This review aims to deep-dive into what AIG brings to the table, examining the intricacies of their policies, customer service reputation, claim process, and overall value for money. Our goal is to provide you with the information you need to determine if AIG is the right life insurance provider to safeguard your family's financial wellbeing.

History and Background of AIG

AIG, or American International Group, Inc., traces its roots back to the year 1919 when it was founded by Cornelius Vander Starr. Originally named "American Asiatic Underwriters," the company specialized in providing insurance coverage for businesses operating in Asia. In the following decades, AIG expanded its operations worldwide and diversified its offerings beyond just property and casualty insurance. In 1962, AIG officially changed its name to American International Group, Inc. and became a publicly traded company on the New York Stock Exchange.

Over time, AIG's life insurance division has grown significantly through acquisitions and strategic partnerships. In 2001, AIG acquired American General Corporation (AGC), which brought with it over 150 years of experience in the life insurance industry. Today, AIG is a global leader in insurance and financial services, operating in over 80 countries and serving millions of customers.

Types of Life Insurance Offered by AIG

AIG offers a diverse range of life insurance products to cater to the varying needs and budgets of its customers. These include term life, whole life, universal life, and variable universal life insurance. Let's take a closer look at each type:

Term Life Insurance

Term life insurance provides coverage for a specific period, typically 10, 20, or 30 years. AIG offers two types of term life policies Select-A-Term and QoL Flex Term. Select-A-Term allows you to customize your policy term and coverage amount, while QoL Flex Term offers flexibility to adjust your premiums and coverage amounts over time. AIG's term life policies also come with the option to convert to a permanent policy if needed.

Whole Life Insurance

Whole life insurance provides lifetime coverage and includes a cash value component that grows at a guaranteed rate. AIG's whole life policies offer fixed premiums, tax-deferred growth of cash value, and the potential to earn dividends. Additionally, AIG offers whole life policies specifically designed for children, providing a head start on building financial security.

Universal Life Insurance

Universal life insurance is a flexible type of permanent life insurance that allows you to adjust your coverage and premium payments over time. AIG's universal life policies offer a range of investment options for your cash value, including fixed interest accounts and indexed accounts linked to the performance of market indexes.

Variable Universal Life Insurance

Variable universal life insurance is similar to traditional universal life, but with added flexibility to invest your cash value in a variety of sub-accounts, including stocks, bonds, and money market funds. AIG's variable universal life policies offer potential for higher returns but also come with increased risk.

Customer Service and Reputation

AIG has a solid reputation for providing quality customer service. The company boasts an A+ rating from Standard & Poor's, indicating excellent financial strength and claims-paying ability. Additionally, AIG has won numerous awards for its customer service, including the Insurance Business America Award for "Outstanding Customer Service."

When it comes to claims, AIG offers a streamlined process through its online portal or by phone. The company also has a dedicated team of claim specialists to guide customers through the process and ensure timely payouts.

Value for Money

AIG's life insurance policies are competitively priced, offering good value for money. The company also provides ample flexibility and customization options to tailor policies to individual needs. However, it's worth noting that AIG's policies may come with higher premiums for certain demographics or health conditions.

Financial Strength and Stability

AIG's financial strength is a crucial factor to consider when choosing a life insurance provider. The company has consistently maintained high ratings from top credit rating agencies, indicating its stability and ability to meet financial obligations. As of 2021, AIG holds an A2 rating from Moody's, an AA- rating from S&P, and an A+ rating from AM Best.

Importance of financial stability in choosing an insurer

Choosing an insurer with a strong financial standing is essential as it ensures the company's ability to fulfill its commitments to policyholders, such as paying out claims. A financially stable insurer also gives customers peace of mind, knowing that their loved ones will be financially protected in case of unexpected events.

Advanatges and Disadvantages of Choosing AIG


  • Diverse range of life insurance products to choose from, catering to different needs and budgets.
  • Solid reputation for customer service and claims handling.
  • Strong financial stability and ability to meet financial obligations.


  • Some policies may come with higher premiums for certain demographics or health conditions.
  • Limited availability in certain countries, as AIG primarily operates in North America and Asia.
  • May not offer the most competitive rates compared to other insurers in the market.

Application Process and Criteria

To apply for AIG's life insurance policies, customers can either request a quote online or through an authorized agent. The application process typically involves filling out basic personal and health information, undergoing medical underwriting, and choosing the desired coverage amount and policy term.

AIG has specific age limits for its different types of life insurance policies, with the maximum age ranging from 70 to 85 years old. The company also considers factors such as overall health, occupation, and lifestyle habits when determining eligibility and premiums.


AIG is a well-established life insurance provider with a global presence, offering a variety of policies to meet individual needs and preferences. With its reputation for customer service, strong financial stability, and diverse range of products, AIG is a solid choice for those seeking reliable life insurance coverage. However, as with any insurance provider, it's essential to compare policies and rates from different companies to ensure you are getting the best value for your money. Ultimately, choosing the right life insurance policy is a personal decision that should be based on careful consideration of one's needs and financial situation.

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