AIG

AIG offers a variety of insurance products, including burial insurance. Its valuable selection of coverage options is customizable to help you meet your specific needs. 

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9.3
Grand Score
8
User Score
9.3
Grand Score
8
User Score
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AIG (American International Group) has grown to be one of the largest insurers in the world. It confidently serves 90 million customers in more than 100 countries across the world. AIG offers a full range of life insurance products, including burial insurance. Burial insurance helps to cover burial and other final expenses after an individual is deceased. AIG provides quality life insurance options at affordable rates. This company can provide personalized quotes in just a few minutes, and will work directly with the applicant throughout the approval process.

Grandfolk Scoring
Waiting period 5/10
Customer service 9/10
Medical exam 10/10
Maximum coverage 10/10
Coverage age limit 10/10
Living benefits 10/10
Exclusions 10/10
Rate increases 10/10
Cost 8/10
Ease of enrollment 10/10
Coverage 10/10
Waiting period
Does coverage have a waiting period?
Yes, there is a six-month waiting period before coverage takes effect
Customer service
Availability of and ease of access to customer service?
Representatives are available 7 AM-6 PM CST Mon-Fri.
Medical exam
Medical exam required to obtain coverage?
There are no medical exams or health questions to answer.
Maximum coverage
What is the maximum coverage available for burial insurance?
AIG offers up to $25,000 in coverage.
Coverage age limit
Who is eligible for burial insurance coverage?
If you are between the ages of 50-85, you can't be turned down for health reasons.
Living benefits
Are chronic and terminal illness benefits included with burial insurance?
Yes, available at no additional cost
Exclusions
What isn’t covered?
Death from suicide in the first two years of coverage
Rate increases
Will the rates increase each year?
No, the premium is fixed for the entire term of the policy.
Cost
Monthly premium
Varies depending on age and other factors
Ease of enrollment
Ways you can enroll
Online or by phone
Coverage
What services are covered?
Burial insurance, accelerated death benefit, chronic illness
Age Score:
10
50-64 Years
10
65-74 Years
10
75-84 Years
10
85-Older

AIG does not use a cookie-cutter approach when providing burial insurance. Instead, they help tailor a customized life insurance plan unique to you. While most other life insurance companies offer term or burial insurance duration options of 15, 20 or 30 years, AIG’s Select-a-Term product offers 18 different term duration periods to choose from. This broad selection allows you to customize your policy to fit your needs. AIG’s ability to write flexible terms is ideal if your goal is to protect your family until you reach retirement age, or until your mortgage is paid off. Select-a-Term is not only efficient, it is also economical, as you will not pay for insurance you don’t need.

Health Score:
10
Poor Health
9
Fair Health
8
Good Health
8
Great Health

In 2014, AIG introduced AG Asset Protector, a unique selection of features customers can choose for permanent life insurance policies. Initially, the product was introduced as a type of life insurance to be used while living. It allows the option to utilize your death benefits while you’re still alive. The Accelerated Access Solution allows access to your death benefits in the unfortunate event of a chronic or serious illness. In addition, the Lifestyle Income Solution allows your death benefit to be used as a supplement to your retirement income.

Pros:

  • AIG offers flexible term lengths for its term life Insurance policies. 
  • AIG has an electronic application so that you can easily apply online.
  • AIG allows you to perform several other actions online, such as updating beneficiaries or updating an address.
  • AIG offers insurance quotes online or by phone.
  • Quotes are free and are offered without obligation.
     

Cons:

  • It may take AIG a little longer than average to get your application through to a signed policy.
  • There is a six-month waiting period before the policy takes effect after approval. 
  • AIG does not have sales agents; their representatives are in call centers. This approach is less personable and is often frowned upon. 
  • After calling to get a quote, some customers complained of aggressive, high-pressure sales tactics resulting in numerous sales calls and emails, sometimes daily.

Bottom Line:

American International Group, AIG, has been helping families with their final arrangements for over 160 years. AIG offers low rates and a wide variety of life insurance options, as well as several customizable options to fulfill specialized needs. This can be highly beneficial for individuals who only need certain types of coverage, and don’t want to overpay for coverage they may not use.

In 2015, AIG received a ‘Superior’ rating from both A.M Best Company and Standard and Poor’s. The premiums for AIG life insurance products are among the lowest in the industry. Although it might take a longer than average time, AIG is efficient in its overall application and underwriting process. Its financial strength, length of service and history of paying out claims makes AIG a strong contender when considering a life insurance company. If you are looking for a company that ranks high across the board, AIG is an excellent choice. 
 

Frequently Asked Questions:

Does your term coverage include an ‘accelerated death benefit?’
Yes. You can accelerate up to 50% of the death benefit (up to a max of $250,000) if you've been diagnosed with a terminal illness and given a maximum life expectancy of 12 months.


How do I get started?
If you’d prefer to speak with an AIG Direct representative instead of obtaining life insurance quotes online, you can call their quote hotline.


What if I apply and change my mind later?
There is no risk or obligation when you choose an AIG policy. AIG offers a ‘free look’ period of 30 days. The policyholder may decide to terminate the policy within 30 days and receive a 100% refund of any premium paid.
 

More Information:

Product Details


Overview: AIG is one of the largest insurance companies in the world. It writes a wide variety of different types of life insurance policies to meet the needs of nearly any customer, from traditional to more modern policy types.

Package Details: 

Optional Accessories or Add-on Services: N/A

 

Additional Company Details

 

Contract Details: N/A

Warranty: N/A 

Accreditations: AIG does not have an accredited business profile with the Better Business Bureau, but maintains an A+ rating. 


Company Details: Founded in China in 1919, AIG grew incredibly fast. By 1926, the company opened its first office in the United States as American International Underwriters Corporation. In 1967, the company became American International Group and began operating two years later. In 2016, AIG ranked within the top 50 on the Fortune 500 list. 

Contact

AIG
9640 Granite Ridge Dr #200
San Diego, CA 92123
Phone: 858-309-3000
Website: http://www.aig.com/individual/insurance/life 

 

T. Mashae Pearson - Senior Advisor

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