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 can provide a seamless insurance shopping experience. Other shoppers will need a more advisor-guided approach.
Let’s look closer to see whether you should get life insurance quotes from AIG Direct.
In this review:
About AIG Direct (Formerly Matrix Direct)
Matrix Direct is now AIG Direct, an online life insurance agency that has helped more than six million people find and secure life insurance coverage.
As an online agency, AIG Direct can save customers time by eliminating needing to meet with a life insurance agent in person.
Though it’s connected to AIG, a huge insurer, AIG Direct will not necessarily sell you coverage from AIG.
AIG Direct sells insurance 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
Some life insurance plans offered through AIG Direct require traditional underwriting, but others will not require a medical exam.
AIG Direct Reviews & Ratings
Because AIG Direct is not a life insurance company, it is not rated by agencies such as A.M. Best, Moody’s, Fitch Ratings, or Standard & Poor’s.
However, the insurance companies AIG Direct works with do have company ratings from these insurance business watchdogs. All of AIG Direct’s partner companies have earned ratings of A- to A+ from A.M. Best, which measures a company’s financial strength.
This means these insurers have earned one of the three highest ratings out of 15.
These ratings include the following:
- American General Life Insurance Company: A
- Gerber Life Insurance Company: A
- Fidelity Life Association, A Legal Reserve Life Insurance Company: A-
- Globe Life and Accident Insurance Company: A+
- Prudential Life Insurance Companies: A+
- Transamerica Life Insurance Companies: A+
- Legal & General America, Banner Life Insurance Company: A+
- Mutual of Omaha Insurance Company: A+
AIG Direct Life Insurance Customer Complaints
The Better Business Bureau has accredited AIG Direct Insurance Services, Inc. of San Diego since September 4, 2009. The BBB has given AIG Direct an A+ grade.
This doesn’t mean customers don’t complain about this insurance agency. It does mean AIG Direct works to resolve the complaints.
In the past three years, Matrix Direct has closed out 11 customer complaints. Three of these complaints have been closed out within the past 12 months.
AIG Direct Life Insurance Products
Matrix Direct, now AIG Direct, offers several insurance products, including term and permanent life insurance plans.
AIG Direct Term Life Insurance
Term life insurance provides only a death benefit; the policy will not gain cash value. Because of this, a term life insurance policy will be much cheaper than a comparable permanent policy.
Because it’s simpler, term life is also easier to buy from an online insurance agency such as AIG Direct.
This is especially true for applicants who are young and in good health at the time of application.
Term life insurance is offered for a set amount of time, or “term.” These terms can be five years, 10 years, 15 years, 20 years, 30 years, and sometimes even more. You can also find one-year renewable term life insurance coverage.
Because Matrix Direct / AIG Direct works with so many life insurance carriers, shoppers can search various term life insurance coverage options to find the best rates.
These products include:
AIG Direct Renewable Term Life Insurance
A renewable term life insurance policy will typically stay in force for one to five years. When it expires, the policy can be renewed without a medical exam or providing evidence of future insurability.
However, as the policyholder renews the coverage, the premium will increase based on the insured’s age and health condition.
AIG Direct Level Term Life Insurance
With level term life insurance, the amount of life insurance coverage and the premium price will remain level throughout the entire term of the policy. These policies may remain for several years or last until the insured reaches a certain age, such as 65.
AIG Direct Convertible Term Life Insurance
A convertible term life insurance policy will allow the insured to convert the coverage into a permanent life insurance policy at or before a certain date. This can allow the insured to lock into a policy that can remain in force for the remainder of his or her life (provided that the premium is paid).
However, it can also result in the policyholder paying a higher premium for permanent coverage.
AIG Direct Return of Premium (ROP) Term Life Insurance
As its name suggests, a return of premium life insurance policy gives the policyholder the option of getting back the premiums once the policy expires — assuming the insured outlives the term of the policy.
(However, not all premiums will be returned if the policy is canceled before the end of its stated term.)
AIG Direct Permanent Life Insurance
Matrix Direct / AIG Direct also offers permanent life insurance coverage. A permanent policy will provide both the death benefit protection and a cash value component. The cash value grows slowly over time and should accrue interest as it would in a savings account.
This can allow the funds within the cash value to increase exponentially over time.
Matrix Direct / AIG Direct offers several different types of permanent life insurance protection, including:
AIG Direct Whole Life Insurance
Whole life insurance is the most basic type of permanent life insurance coverage.
With these policies, the death benefit and the premium amount are typically locked in and guaranteed not to change. This is the case even as the insured gets older, as well as if they develop a chronic health condition.
Some types of whole life insurance policies will pay the policyholder a dividend. This dividend (while not guaranteed), may be taken as cash, or it can be used to purchase additional life insurance coverage.
AIG Direct Universal Life Insurance
Universal life insurance is another form of permanent life insurance protection.
A policyholder with a universal life policy may, within certain guidelines, change the time and the amount of the premium payment to best fit their changing needs. The death benefit may also be adjusted.
AIG Direct Accidental Death Benefit
Matrix Direct / AIG Direct also sells accidental death insurance. With an accidental death policy, a benefit will be paid out if the insured dies as a result of a covered accident.
This payout could supplement other life insurance coverage.
Accidental death may also pay out if the insured is involved in an accident and he or she loses a limb, suffers blindness, and/or is paralyzed as a direct result of that accident.
This type of coverage does not require a medical examination to qualify, regardless of your current health condition.
Other Products and Services from AIG Direct Life Insurance
AIG Direct doesn’t provide only life insurance policies. You can also shop for:
Disability Insurance Coverage
If an insured becomes disabled due to a covered illness or accident that renders him or her unable to work, disability insurance can provide an alternative form of income. This can help pay everyday living expenses, protect savings, and prevent a premature return to work.
Estate Planning
A good estate plan can be essential to your overall financial plan to ensure that assets are distributed according to your wishes. Having life insurance within this type of plan can also help to ensure that funds are available for paying estate taxes that may be due.
AIG Direct Life Insurance Rates
Because finding the right company and policy can be difficult, AIG Direct makes it easy to compare the policies and premium rates from numerous companies directly.
That’s the entire point of this kind of online insurance agency: a way to meet your insurance needs without spending weeks comparing policies and reading company reviews — or hiring an independent agent to work on your behalf.
AIG Direct does not charge additional fees to customers for evaluating and/or purchasing life insurance coverage. The company earns its profits through the life insurance policies that it places.
Is AIG Direct Life Insurance the Best Option for You?
When looking for the best rate on life insurance coverage, working with an agency with access to various insurance companies and policy options makes a lot of sense.
AIG Direct can meet this need for many life insurance shoppers. Shoppers who are young and healthy can visit the company’s site and choose from various insurance products. This is especially true for term life insurance and accidental death benefits.
However, shoppers who need a more sophisticated approach to meeting their insurance needs should not necessarily get life insurance quotes from AIG Direct. You’ll need a more human approach to shopping when you have a dangerous job, a chronic health condition, or another specific insurance need.
We can help you. Like AIG Direct, Best Life Quote also works with various insurance companies. But rather than relying on algorithms to generate quotes, we use our decades of personal experience to connect you with the right company.
Use the life insurance calculator on this page to discuss life insurance options in more detail.
Frequently Asked Questions
- What is AIG Direct? An online life insurance agency offering a variety of policies from top-rated companies, facilitating online comparison and purchase.
- What types of life insurance products does AIG Direct offer? Offers term, permanent (whole and universal), and accidental death insurance, with options for traditional underwriting and no medical exam policies.
- Are there any customer service ratings or reviews available for AIG Direct? AIG Direct partners with highly rated companies and has an A+ grade from the BBB, reflecting their commitment to resolving customer complaints.
- How does AIG Direct compare to buying insurance directly from an insurance company? It provides the convenience of comparing multiple insurers’ policies potentially at competitive rates, though direct consultation may be preferable for personalized service.
