Matrix Direct was a huge innovation when it launched back in 1995. It was one of the first attempts to harness the internet to connect more people with quality life insurance coverage. Today, Matrix Direct lives on as AIG Direct Life Insurance, a subsidiary of American General Life Insurance Company.
For many shoppers, AIG Direct Life Insurance provides a seamless insurance shopping experience. However, some shoppers may prefer a more advisor-guided approach. In this comprehensive review, we’ll explore whether AIG Direct is the right option for you.
About AIG Direct (Formerly Matrix Direct)
AIG Direct is an online life insurance agency that has helped over six million people secure life insurance coverage. As a subsidiary of American General Life Insurance, AIG Direct simplifies the process by eliminating the need for in-person meetings with agents.
Although it is connected to AIG, AIG Direct offers life insurance products from a variety of top-rated life insurance companies, including:
- Voya Financial
- Gerber Life Insurance Company
- Fidelity Life
- Globe Life
- Prudential
- Transamerica
- Legal & General (Banner Life)
- Mutual of Omaha
- American General Life Insurance Company
AIG Direct Life Insurance: Customer Reviews and Financial Ratings
AIG Direct’s reputation is bolstered by its financial strength, with AIG holding an ‘A’ rating from AM Best, which signifies strong financial reliability and the ability to pay claims. This is a critical factor for anyone considering long-term insurance.
In terms of customer satisfaction, AIG has a score of 742 out of 1,000 in the J.D. Power Life Insurance Study, which is below the industry average of 763. Despite this, AIG has fewer than average company complaints, as reported by the National Association of Insurance Commissioners (NAIC).
AIG Direct Life Insurance Products
AIG Direct offers a wide range of life insurance products, including both term and permanent policies. Here are some of their most popular options:
Term Life Insurance
AIG Direct’s Select-a-Term life insurance is one of its standout options, offering flexible term lengths from 10 to 35 years. This flexibility helps individuals select the right term to match their specific financial needs.
Term life insurance policies from AIG Direct include:
- Renewable Term Life Insurance: Policies are renewable without a medical exam, but premiums increase with age.
- Level Term Life Insurance: The premium and coverage remain fixed for the term of the policy.
- Convertible Term Life Insurance: Policyholders can convert their term coverage into a permanent policy at a later date.
- Return of Premium (ROP) Term Life Insurance: Returns premiums if the policyholder outlives the term.
Permanent Life Insurance
Permanent life insurance from AIG Direct includes a cash value component that grows over time. Types of permanent policies include:
- Whole Life Insurance: Provides lifetime coverage with fixed premiums and a death benefit. Whole life policies are guaranteed issue, meaning no medical exam is required, making them ideal for individuals with pre-existing conditions. Coverage is available for those between 50 and 85 years old.
- Universal Life Insurance: Offers flexible premiums and death benefits, allowing policyholders to adjust their coverage to meet their changing needs. AIG’s Guaranteed Universal Life policies can include an accelerated death benefit rider for chronic illness.
Accidental Death Benefit
Accidental death insurance provides additional coverage in case of death resulting from an accident. It also pays out if the policyholder is paralyzed, loses a limb, or suffers blindness due to an accident. This coverage is available without a medical exam.
AIG Direct Life Insurance Rates
One of the main benefits of AIG Direct is the ability to compare rates from multiple insurers easily. AIG Direct does not charge additional fees, and customers can quickly find policies that meet their needs without spending hours researching different companies.
Is AIG Direct Life Insurance the Best Option for You?
AIG Direct is an excellent choice for young, healthy individuals looking for affordable term life insurance. However, those with more complex insurance needs, such as those with dangerous jobs or chronic health conditions, may require a more personalized approach.
Best Life Quote can help you find the best policy to meet your needs. Unlike AIG Direct, we use our years of experience and personal attention to connect you with the right coverage. Use the life insurance calculator on this page to explore your options in detail.
Get Started Today: Use our life insurance calculator or contact us for personalized advice on finding the best life insurance coverage for your needs.
Frequently Asked Questions
- What is AIG Direct? AIG Direct is an online life insurance agency offering a variety of policies from top-rated companies, making it easy to compare options and purchase coverage online.
- What types of life insurance products does AIG Direct offer? AIG Direct offers term life, whole life, universal life, and accidental death insurance, with both traditional and no medical exam policies available.
- Are there any customer service ratings or reviews for AIG Direct? Yes, AIG Direct partners with highly rated companies and has an A+ grade from the BBB. However, it has a customer satisfaction score of 742 from J.D. Power, which is slightly below the industry average.
- How does AIG Direct compare to buying insurance directly from a company? AIG Direct provides a convenient way to compare policies from multiple insurers, potentially at competitive rates. However, some customers may prefer the personalized service of working with an independent agent.
- Does AIG Direct offer no medical exam life insurance? Yes, AIG Direct offers both traditional and no medical exam policies, making it easier for certain individuals to get coverage quickly and conveniently.
