In exceptional circumstances, AIG Life Insurance may pay a death benefit of up to $1 million or more, depending on the exact policy. One of the company’s seven distinct universal
If you have a pre-existing medical condition, the approval procedure with AIG may be longer and more complicated. This is likely to influence your selection if you are seeking for the best service accessible.
At the very least, it is a viable option due to its vast coverage, lengthy duration, and inexpensive entrance price.
Life Insurance Info
- 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
- Medical exam required. Depends on the policy
- Available states. All states except NY and MT
- Issue age. 20 – 85 years old
Pros and Cons of AIG
- Certain riders, like the lifestyle income rider, enable you to withdraw 10% of the face value of your policy each year after reaching the age of 85, which is a sizable sum.
- There are several types of universal
life insurancepolicies available, each with its own set of benefits and investment risks.
- As a result of the claims system’s complexity, processing and reimbursement of claims will take an extended amount of time.
- There are precise underwriting rules that must be followed.
life insurance rates
A set of hypothetical quotes for $500,000 20-year term
- Aged 20. Man $36.01 & Woman $28.63
- Aged 25. Man $36.01 & Woman $28.79
- Aged 30. Man $36.64 & Woman $30.29
- Aged 35. Man $42.66 & Woman $35.08
- Aged 40. Man $61.46 & Woman $47.50
- Aged 45. Man $95.71 & Woman $72.41
- Aged 50. Man $146.41 & Woman $108.60
- Aged 55. Man $246.21 & Woman $167.50
- Aged 60. Man $425.05 & Woman $292.60
- Aged 65. Man $458.49 & Woman $388.91
Factors that affect your rates with AIG
AIG considers a variety of health-related aspects while determining your premiums. To qualify for the best AIG rates, you must be Preferred Plus, which means you must satisfy all of the company’s standards.
- Hypertension. Maintain a blood pressure of 140/85 until the age of 60, at which point it should increase to 150/85.
- The way the cholesterol-HDL connection expresses itself (good cholesterol). When the ratio of HDL to total cholesterol is less than 5.0, the cholesterol level must be less than 215 mg/dl to be deemed healthy. Your total cholesterol should be less than 290 if your HDL/LDL cholesterol ratio is less than 4.5.
- When it comes to encouraging behavior, one’s reputation is critical. Before applying for a license, you must be free of DUIs, suspensions, and felony hazardous driving convictions for at least seven years.
- This is our forebears’ and foremothers’ narrative. The program is ineligible for anybody in your family who has had cancer or coronary artery disease before the age of 60. It is not a serious problem until you reach the age of 65.
- Your own personal stories that you’d want to share with others. Anyone under the age of 60 who has been diagnosed with cancer or a comparable handicap may be ineligible for the reduced rates.
- In the United States, tobacco is widely utilized. To qualify, the capacity to abstain from smoking for a period of five years must be proved.
- The height-to-weight ratio of an individual is disproportionate to his or her body weight. For instance, 6ft guys weighing between 137 and 217 pounds earn the most money.
How to get a quote from AIG
Unlike other AIG products, AIG Direct sells insurance directly to clients over the internet or by phone at (800) 254-4933. In comparison to other AIG products,
- To obtain a quotation for the policy you’re interested in, visit AIG’s individual
life insurancewebsite and click on the drop-down option Acquire A Quotation.
- Fill in your name, address, phone number, nicotine usage, birth date, height, and weight on the next page. Once complete, click the Get a Free Estimate option.
- If you request a
life insurancequotation from AIG, a business representative will contact you.
life insurance policies are issued by American General
According to the corporation, American General
In contrast, the United States
AIG offers term and permanent
AIG offers two types of
- Term life. AIG’s Select-A-Term term
life insurancepolicy offers coverage for periods ranging from ten to thirty-five years, depending on the choice picked. If you do so before reaching the age of 70, you can change your short-term health insurance coverage to a long-term health insurance policy.
- At all times and in all places. AIG is remarkable in that it offers seven distinct forms of universal
life insurance. These insurance policies provide their consumers flexible and low-cost rates, as well as death benefits. Through investment in a range of portfolios, such as the S&P 500, monetary value may accumulate over time.
- Every single day for the remainder of my life. The insurer offers guaranteed-issue whole
life insuranceproducts with coverage amounts ranging from $5,000 to $25,000 for persons between the ages of 50 and 85. Additionally, a guaranteed rate of return is given, as is lifetime coverage that is not conditional on medical examination.
Does AIG offer burial insurance?
Yes. Funeral insurance from AIG ranges from $5,000 to $25,000 for those aged 50 to 85. You will not be required to undergo a medical examination or answer any health-related questions as a condition of membership in the program.
AIG’s final-expenditure plans are distinguished by the living benefits they give. If you have been diagnosed with a terminal disease, you may borrow up to 50% of your
AIG offers 6 riders to customize your coverage
Any gaps in coverage can be addressed by adding the following basic riders to your policy:
- Rider for accelerated death benefits. Patients with terminal or chronic conditions may be eligible for a tax-free lump sum payment. You may be entitled to a monthly payment under the rules of the estate benefit.
- This adds another degree of safety in the case of an unavoidable death. If you are killed in an accident, the amount of your death benefit is doubled.
- Riders who are under the age of eighteen are not authorized to participate. Your children up to and including the age of 25 are covered for up to $25,000 in medical expenditures during the term of the policy.
- The rider’s wife is dubbed. If you wish to increase your spouse’s coverage, you do not have to get separate insurance for him or her.
- This rider’s financial loss coverage protects you in the case of an accident. If you wish to enhance your insurance coverage, you are not required to have a medical examination.
- As a result, the rider in this scenario forfeits the option to bargain for a lower price. If you are rendered permanently unable to work, you will be released from the need to pay insurance premiums.
Life insurance from AIG has gotten a mix of ratings.
The Better Business Bureau attributes the poor star ratings to lengthy response periods and concerns regarding claim reimbursement. To be clear, these ratings are for the whole corporation, not just its
AIG’s customer rating on TrustPilot fluctuates drastically. Several customers have expressed dissatisfaction with the company’s lack of communication and lengthy wait times for claim reimbursements, while others have lauded the company’s professional account managers and dedicated customer service representatives. AIG received a customer satisfaction score of 742 out of 1,000 in the J.D. Power 2020
In 2020, American General Life had an NAIC complaint score of 0.75, falling short of the industry standard of 1.00.
How AIG stacks up against other insurers
AIG offers a more broad selection of policy alternatives than other insurers, including term
To ensure you are getting the best bargain available, compare AIG’s recommended rates to those offered by other businesses.
Apart from that, the corporation reacts to several BBB complaints after an extended period of time.
AIG’s premiums are competitive with those charged by other insurers in the same market. According to our rate comparisons, the AIG term
life insurance companies like AIG
Are you curious about how AIG’s perks and coverage compare to those of the competition? Select the Compare box from the menu to get a side-by-side comparison of up to four different firms.
Despite its well-earned image as a financially sound company, AIG has recently come under fire from the press. The company’s image was tarnished in 2005 by an accounting fraud that resulted in $1.6 billion in fines and destroyed the company’s financial records. Apart from that, the corporation came under pressure following the US government’s $85 billion bailout plan during the 2008 financial crisis.
AIG has risen to become one of the world’s largest insurers, ranking among the top five, as a result of strategic repositioning and the sale of various businesses. The firm’s present financial state, as well as consumer loyalty, dictate its current status.
Frequently asked questions
What does AIG stand for?
AIG stands for American International Group.