{"id":3953,"date":"2021-01-28T09:33:42","date_gmt":"2021-01-28T14:33:42","guid":{"rendered":"https:\/\/blq.wpengine.com\/?p=3953"},"modified":"2023-08-06T10:34:08","modified_gmt":"2023-08-06T15:34:08","slug":"aig-life-insurance-review","status":"publish","type":"post","link":"https:\/\/www.bestlifequote.com\/blog\/aig-life-insurance-review\/","title":{"rendered":"AIG Life Insurance Review"},"content":{"rendered":"<p>Life insurance is the best way to protect your family from financial hardship in the event of a disaster, and AIG is a name that people trust with a full slate of life insurance products.<\/p>\n<p>Still, it&#8217;s best to compare life insurance companies and policies to decide which is right for you.<\/p>\n<p>In this review, we\u2019ll discuss the pros and cons of AIG Life Insurance and compare policy options for 2023.<\/p>\n<div class=\"box-gray id=\">\n<p><strong>In this review:<\/strong><\/p>\n<ul>\n<li><a href=\"#good\">Pros &amp; Cons of AIG<\/a><\/li>\n<li><a href=\"#products\">Life Insurance Products<\/a><\/li>\n<li><a href=\"#riders\">Riders<\/a><\/li>\n<li><a href=\"#apply\">Eligibility &amp; Application Process<\/a><\/li>\n<\/ul>\n<\/div>\n<h2 id=\"good\">Is AIG Good Life Insurance?<\/h2>\n<p>AIG, American International Group, is one of the <a href=\"https:\/\/www.bestlifequote.com\/blog\/best-life-insurance-companies\/\">top life insurance companies<\/a> in the world.<\/p>\n<p>Founded in 1919, the company has grown to nearly 50,000 employees and does business in over 80 countries worldwide.<\/p>\n<h3><strong>Pros &amp; Cons<\/strong><\/h3>\n<p>AIG serves as one of the most recognized insurance brands with total assets of over $500 billion. As with any company, clients have reported both good and bad experiences with AIG.<\/p>\n<p>First, let\u2019s take a look at some of the pros and cons of AIG life insurance:<\/p>\n<h4>Pros<\/h4>\n<ul>\n<li>Offers policies without a medical exam<\/li>\n<li>Policies with no waiting period<\/li>\n<li>Financially sound company<\/li>\n<\/ul>\n<h4>Cons<\/h4>\n<ul>\n<li>Poor customer service<\/li>\n<li>A large number of customer complaints<\/li>\n<\/ul>\n<h3><strong>Financial Ratings<\/strong><\/h3>\n<p>AIG is a company with considerable financial strength that can meet its obligations.<\/p>\n<ul>\n<li><strong>Fitch<\/strong>: A+<\/li>\n<li><strong>Standard &amp; Poor&#8217;s<\/strong>:\u00a0A+<\/li>\n<li><strong>Moody&#8217;s<\/strong>: A2<\/li>\n<li><strong>A.M. Best<\/strong>: A<\/li>\n<\/ul>\n<p>While AIG is not Better Business Bureau accredited, it does respond to complaints made there.<\/p>\n<h2 id=\"products\">Life Insurance Products<\/h2>\n<p>The company offers a full range of life insurance policies, including term, whole, and universal life insurance.<\/p>\n<h3 class=\"blueback\">AIG Term Life Insurance<\/h3>\n<p>AIG Life Insurance offers 18 different terms for consumers to <a href=\"https:\/\/www.bestlifequote.com\/term-life-insurance\/\">purchase term life insurance<\/a>.<\/p>\n<h4>Select-a-Term<\/h4>\n<p>You can purchase insurance for a term of:<\/p>\n<ul>\n<li>10 years<\/li>\n<li>15 through 30 years<\/li>\n<li>35 years<\/li>\n<\/ul>\n<p>Plus, AIG allows policyholders to convert their policy into permanent life insurance before the end of the level-premium period or age 70, whichever comes first.<\/p>\n<p>For AIG\u2019s Select-a-Term life insurance, four unique riders can be added to the policy:<\/p>\n<ul>\n<li><a href=\"#accident\">Accidental death benefit rider<\/a><\/li>\n<li><a href=\"#child\">Child rider<\/a><\/li>\n<li><a href=\"#terminal\">Terminal illness rider<\/a><\/li>\n<li><a href=\"#waiver\">Waiver of premium rider<\/a><\/li>\n<\/ul>\n<h4>Quality of Life Flex Term<\/h4>\n<p>The Quality of Life Flex Term Life Insurance is similar to Select-a-Term.<\/p>\n<p>However, the difference is it allows for early access to your policy&#8217;s value in the event of a critical, chronic, or terminal illness.<\/p>\n<h3 class=\"blueback\">AIG Guaranteed Issue Whole Life Insurance<\/h3>\n<p>AIG only offers one type of whole life insurance, <a href=\"https:\/\/www.bestlifequote.com\/final-expense-life-insurance\/\">Guaranteed Issue Whole Life Insurance<\/a>. This policy does not require a medical exam.<\/p>\n<p>The maximum coverage is $25,000. If you pass away within the first two years of the policy, your beneficiaries receive all of the premiums paid, plus an additional 10%.<\/p>\n<h3 class=\"blueback\">AIG Universal Life Insurance<\/h3>\n<p>AIG provides three different types of universal life insurance: <strong>indexed<\/strong>, <strong>guaranteed<\/strong>, and <strong>variable<\/strong>.<\/p>\n<h4>Indexed Universal Life Insurance<\/h4>\n<p>Value+ Protector and Max Accumulator+ represent the two varieties of IUL policy available.<\/p>\n<p>Both policies provide permanent coverage where the paid premiums contribute to the cash value.<\/p>\n<p>Both add interest based on the stock market index&#8217;s performance. Or, policyholders can also opt for a low, fixed interest rate.<\/p>\n<h4>Guaranteed Universal Life Insurance<\/h4>\n<p>This AIG life insurance policy is guaranteed not to lapse as long as you make the premium payments.<\/p>\n<p>Also, you&#8217;ll enjoy a guaranteed fixed interest rate of 2%.<\/p>\n<p>You can improve your guaranteed universal life insurance policy with several available riders.<\/p>\n<h4>Variable Universal Life Insurance<\/h4>\n<p>AIG\u2019s Variable Universal Life Insurance is similar to the indexed policies. They both accrue interest based on the performance of the stock market.<\/p>\n<p>But, there is one major difference.<\/p>\n<p>The variable policy has no ceiling and no floor when it comes to the amount of interest that can be added or deducted from your policy.<\/p>\n<p>The indexed policy has a ceiling of 10% and a floor of 0%.<\/p>\n<h2 id=\"riders\">AIG Life Insurance Riders<\/h2>\n<p>AIG Life Insurance offers several riders to supplement and enhance your base policy.<\/p>\n<h3><strong>Waiver of Monthly Deduction Rider<\/strong><\/h3>\n<p>This rider allows policyholders to waive monthly deductions if he\/she is totally disabled for six months or more.<\/p>\n<h3 id=\"waiver\"><strong>Waiver of Premium Rider<\/strong><\/h3>\n<p>Like the Waiver of Monthly Deduction Rider, this rider allows insureds to waive premiums if completely disabled for six months or more.<\/p>\n<p>However, those who become totally disabled after 60 will only receive the benefit for one year or until they reach 65, whichever is sooner.<\/p>\n<h3><strong>Accelerated Death Benefit Rider<\/strong><\/h3>\n<p>This rider is available to those individuals who have purchased an AIG Quality of Life policy.<\/p>\n<p>The accelerated death benefit can assist insureds by covering lost income and health care costs if diagnosed with a critical, chronic, or terminal illness.<\/p>\n<h3><strong>Enhanced Surrender Value Rider<\/strong><\/h3>\n<p>The Enhanced Surrender Value Rider allows policyholders to surrender their policy after 20 years for 50% of the premiums paid up to that point.<\/p>\n<p>You can also wait until the 25th year and receive 100% of the premiums paid or 40% of the face value, whichever is lower.<\/p>\n<h3 id=\"accident\"><strong>Accidental Death Benefit Rider<\/strong><\/h3>\n<p>In the event of a death caused by an accident, the Accidental Death Benefit Rider provides up to $250,000 or the face value of the policy\u2019s face value, whichever is smaller.<\/p>\n<p>Unfortunately, this coverage becomes unavailable once an insured reaches a maximum age limit.<\/p>\n<h3><strong>Lifestyle Income Solution Rider<\/strong><\/h3>\n<p>When a policyholder turns 85 years of age, they can withdraw up to 10% of the policy\u2019s death benefit per year.<\/p>\n<h3 id=\"child\"><strong>Child Rider<\/strong><\/h3>\n<p>This rider allows you to purchase up to $25,000 of coverage for a child between the ages of 15 days and 18 years old.<\/p>\n<p>However, it expires when the child turns 25-years-old, or the policyholder turns 65-years-old, whichever is sooner.<\/p>\n<h3><strong>Income for Life Rider<\/strong><\/h3>\n<p>Available only for select plans, the Income for Life Rider allows policyholders to convert the cash value into a regular income stream.<\/p>\n<h3 id=\"terminal\"><strong>Terminal Illness Rider<\/strong><\/h3>\n<p>The Terminal Illness Rider permits policyholders to access death benefits if they have received a doctor\u2019s diagnosis of two or fewer years to live.<\/p>\n<h2 id=\"apply\">Eligibility and Application Process<\/h2>\n<p>Depending on the type of insurance purchased, AIG welcomes all consumers between the ages of 20 and 80.<\/p>\n<p>One benefit of AIG is that it offers some forms of <a href=\"https:\/\/www.bestlifequote.com\/no-medical-exam-life-insurance\/\">life insurance without a medical exam<\/a>.<\/p>\n<p>However, the application process is still arduous and requires the help of an agent.<\/p>\n<p>With AIG, you can easily purchase life insurance online.<\/p>\n<p>Use the quote tool to compare AIG rates to other top providers online.<\/p>\n<p style=\"text-align: center;\">\n","protected":false},"excerpt":{"rendered":"<p>Life insurance is the best way to protect your family from financial hardship in the event of a disaster, and AIG is a name that people trust with a full slate of life insurance products. Still, it&#8217;s best to compare life insurance companies and policies to decide which is right for you. In this review, [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":3962,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[87],"tags":[],"table_tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.bestlifequote.com\/wp-json\/wp\/v2\/posts\/3953"}],"collection":[{"href":"https:\/\/www.bestlifequote.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bestlifequote.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bestlifequote.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bestlifequote.com\/wp-json\/wp\/v2\/comments?post=3953"}],"version-history":[{"count":0,"href":"https:\/\/www.bestlifequote.com\/wp-json\/wp\/v2\/posts\/3953\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bestlifequote.com\/wp-json\/wp\/v2\/media\/3962"}],"wp:attachment":[{"href":"https:\/\/www.bestlifequote.com\/wp-json\/wp\/v2\/media?parent=3953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bestlifequote.com\/wp-json\/wp\/v2\/categories?post=3953"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bestlifequote.com\/wp-json\/wp\/v2\/tags?post=3953"},{"taxonomy":"table_tags","embeddable":true,"href":"https:\/\/www.bestlifequote.com\/wp-json\/wp\/v2\/table_tags?post=3953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}