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1995, the American International Group (AIG) is one of the biggest insurance
providers in the world. It operates in around 80 countries and has helped over
six million people. They have an A+ rating from Better Business Bureau and an A
rating from A.M. Best, evidence of their financial stability.
AIG offers the
following life insurance products.
AIG’s term life policies offer protection from 10 to 35 years, or any time between 15 and 30 years, with five-year increments. Some term life policies provide yearly increments as well. You can renew your term life policy until the age of 95. The table below shows the term length with respect to age. This table is for non-tobacco users.
20 – 80 years
20 – 75 years
16 – 20 years
20 – 70 years
21 – 30 years
20 – 68 years. This age will decrease with the length of the policy, so the maximum age for a 30 year policy is 55.
20 – 45 years
Their death benefit for term life policies ranges between $50,000 and $10 million. AIG allows you to convert your term life policy to a universal or whole life policy before the age of 70.
They also offer return of premium term life policies. Return of premium policies have a minimum face value of $100,000, start with a 20-year term, and are only available for clients under 55 years old.
You can purchase the following riders with a term life policy from AIG:
AIG offers guaranteed life insurance to clients between the ages of 50 and 85, with coverage ranging between $5,000 and $25,000. These policies require no health questions or medical exams but will pay a reduced death benefit if you pass away during the first two years of the policy unless the cause of death is an accident. Your beneficiaries receive 110% of the premiums you paid if you pass away due to an illness, suicide or any other non-accidental cause during the first two years of the policy.
AIG offers a chronic illness rider and a terminal illness rider, free of cost, with all its guaranteed life insurance policies.
AIG offers universal life policies to clients between the ages of 18 and 80 with a minimum coverage of $50,000. When you purchase a universal life policy, you have the option of choosing between the death benefit and both the death benefit and the cash value. Opting for the latter will result in higher premiums.
This insurance policy offers a variety of investment options for your cash value. This policy is available to clients 80 years old or below and has a minimum death benefit of $100,000. Like universal life, you can opt between the death benefit, and both the death benefit and the cash value.
AIG offers this policy to clients between the ages of 18 and 80; the policy can be extended to the age of 121. This policy has a minimum face value of $100,000 and offers cash value. You have the option of decreasing or increasing your benefits during the policy; this will affect your premiums as well.
AIG offers AD&D insurance to clients between the ages of 18 and 80 with a maximum death benefit of $500,000. This policy requires no medical exams. The policy has no term and can be used to provide coverage for a short term with another policy. If the cause of death is not an accident, your beneficiaries will not receive the death benefit.
The table below shows the payouts depending on your injuries due to an accident.
Percentage of death benefit paid
Loss of one limb (arm, hand, leg, foot)
Loss of sight in one eye
Loss of sight in one eye and limb
Loss of sight or both eyes
Loss of two separate limbs (arm, hand, leg, foot)
You can purchase policies online, over the phone, or through insurance agents. AIG has AIG Direct, an insurance company that sells life insurance policies underwritten by them. AIG Direct sells policies over the phone or online. Both offer similar policies, and you won’t be charged extra if you buy through an agent. Working with an agent can be better as they spend more time with you, help you understand the policies, and answer any questions you may have.