AIG Life Insurance Review

Great Choice for Term, Universal, and Guaranteed Issue Policies
AIG Life Insurance logo

Contact Info:

PO Box 818006
Cleveland, OH 44181 
Phone: dt phone message icon red 800-888-2452

Client Care center is open Monday-Friday 7:00 a.m. to 8:00 p.m. Central Time

About AIG Life Insurance Company

Founded in 1919, American International Group (AIG) is one of the largest financial companies in the world. True to its name, AIG is based in the US, but has operations in over 80 countries. AIG was recently ranked 49th on the Fortune 500 list and is in the top 100 largest public companies in the world.

AIG has rebranded to Corbridge Financial back in 2022. Going forward you will see the site and logo. However they still offer the same life insurance products and service the existing AIG policy holders.

Corebridge Financial Logo
AIG Life Insurance Review 4

AIG’s Financial Strength

Below is a list of ratings by the most recognized independent rating agencies:

  • AM Best: A (Third category of 15)
  • Fitch Ratings: A+ (Fifth category of 21)
  • Moody’s Investors Service: A2 (Sixth category of 21)
  • Standard & Poor’s: A+ (Fifth category of 21)
  • AIG Fortune 500 ranking: 72
  • Comdex Score: 83

AIG Comdex rating is 83 ranking them above average for life insurance companies. The Comdex rating is an index that combines the ratings a carrier receives from the rating agencies. You can think of this similar to a credit score for the carrier but it is on a scale of 1-100.

You can see that AIG has great financial strength, which means that they can be trusted to pay out on life insurance policies.

Life Insurance Policies Offered from AIG

AIG offers level term life, guaranteed issue whole life, and a full suite of universal life products.

We actually consider AIG to be one of the best life insurance options for seniors over 60.

Today, we will focus on AIG’s top three products:

  • Select-a-Term
  • Secure Lifetime GUL 3
  • Guaranteed Issue Whole Life

AIG’s Select-a-Term Life Insurance

AIG has a unique level term product offering. The offer term products are customizable. In other words, you can select the term period and are not locked into the standard term durations.

Most carriers offer only 10, 15, 20 and 30 year level term durations. AIG offers the same term periods. However, they also allow you to select a term duration anywhere from 15 through 30 years. So, you could choose a 17 year term or 28 year term as examples.

35-Year Term

Additionally, AIG also offers a 35 year term. Very few carriers offer a term product beyond 30 years. Let’s look at an example of where this product might fit. A 30-year old, just starting a family, might want life insurance to stay in force until age 65. The longer term duration can work well for younger folks.

Unique situations call for creative and flexible solutions. AIG provides “out-of-the-box” solutions with their flexible term products.

Select-a-Term Highlights

  • Conversion: You can convert a term policy to a permanent policy through the end of the term period or age 70 (whichever comes first). You can convert to any of AIG’s policies, but only within certain limits.
  • Minimum Death Benefit is $50,000
  • Issue ages from age 20 to 80

Select-a-Term Riders

  • Terminal Illness Benefit. This allows you to accelerate a portion of the death benefit if diagnosed with a terminal illness with less than 12 months to live. The amount that can be accelerated is the lesser of 50% of the death benefit or $250,000.
  • Accidental Death Benefit: This benefit pays you an additional death benefit if death occurs as a result of certain accidents or injuries.
  • Child(ren) Rider: This benefit pays a benefit upon the death of an insured child.
  • Waiver of Premium: This benefit waives your premium when diagnosed as totally disabled after a 6-month waiting period.

Secure Lifetime GUL 3 (Guaranteed Universal Life)

AIG offers a very competitive guaranteed universal life product. This product is often referred to as “term for life” or “no-lapse universal life”.

If you want a policy to last your entire life, but don’t want the volatility of a variable product dependent on market performance, then GUL can be a good fit. All the components are guaranteed.

The 4 main guarantees with Secure Lifetime GUL 3 are as follows:

  1. The premiums are guaranteed to stay level.
  2. The death benefit is guaranteed to stay the same.
  3. Minimum cash value guaranteed
  4. Guaranteed return of premium (if desired). 50% in year 20 and 100% in year 25.

“A New Class of GUL”

As AIG puts it in their brochure:

“It’s a new class of GUL with a unique combination of features and benefits. And it’s designed to provide you with security and peace of mind – whether you die too soon, live too long or get sick along the way.”

AIG’s GUL is usually one of the most competitively priced on the market. It also has a unique rider – Lifetime Income Solution – not offered by other carriers.

This GUL allows you to select the guaranteed age up to 121. The lower the guaranteed age, the lower the premium.

Secure Lifetime GUL 3 Riders

In addition to the same riders available with Select-a-Term, the riders below are available with the GUL product. The two riders below are available at an extra cost.

Lifetime Income Solution Rider
This rider is considered the “longevity rider” since it protects you against the possibility of outliving your retirement income.

This rider has the following key features:

  • Allows withdrawals up to 10% of the death benefit each year.
  • Payments are typically tax free (up to the premiums already paid).
  • Remaining death benefit – if any – will be paid to your beneficiaries.

Accelerated Access Solution

This living benefit rider protects you against the high cost of chronic illnesses. This rider allows you to access the death benefit. It does not require a qualifying condition to be permanent in nature.

Key Features:

  1. You can select any amount between 50% and 100% of the policy face amount
  2. There are three benefit payment options.
  3. Waiver of premium when owner meets the chronic illness requirement.
  4. You do not need to show receipts. Benefits are paid regardless of the costs incurred.
  5. 90 day waiting period.

AIG Guaranteed Issue Whole Life Insurance

This product is for people ages 50 to 85 only. If you have a serious health condition and have been told you are uninsurable, then this product could be right for you.

Guaranteed Issue Whole Life is a “final expense” (AIG burial insurance) policy that will pay for funeral and other related expenses.

The maximum policy amount is $25,000.

This Guaranteed Issue Whole Life is different than AIG’s other life products. The main features are:

  • You won’t be declined coverage.
  • No exam or health questions are required.
  • Premiums are guaranteed level.
  • Living Benefits such as the Accelerated Death Benefit rider
  • Graded Death Benefit: The death benefit during the first 2 years is 110% of the premiums paid. In the 3rd year and beyond, the full death benefit is paid.

AIG has one of the most competitive guaranteed issue life insurance products on the market when it comes down to price.  We’re big fans of this product as it’s very easy to apply for and helps a significant portion of consumers who need life insurance who otherwise can’t qualify.

Pros & Cons of AIG Life Insurance Products

AIG is a great life insurance company, but for some situations, they may not be the best. Below are both benefits and drawbacks to choosing AIG.


  • Flexibility and customizable products
  • Consistently low rates
  • Innovation and cutting edge product design and technology
  • Streamlined application process
  • Overall, lenient underwriting
  • Very strong riders and built-in policy provisions


  • Lower financial ratings than many top-tier carriers (still very strong though)
  • Extremely large company; sometimes customer service issues

Compare AIG Life Insurance Quotes to Other Companies

When shopping for life insurance, AIG is usually among the lowest cost carriers. They have products that fit almost every need. From term to universal and whole life, they have a broad range of innovative products.

For term, guaranteed universal life and guaranteed issue whole life – they are almost always competitive and a great choice to protect your family.

That said, it is always best to compare quotes from multiple carriers. This will ensure you get the lowest rate possible for your situation.

Sometimes, a blend of more than one product is the best solution. If you’re not sure which product is right for you, please contact us to compare AIG life insurance policies to other top companies.

How can I manage my policy online?

American General (Corebridge Financial) Life Insurance Policy Owners can conveniently manage their policies online by accessing the company’s website and utilizing the online platform designed for policy management. This online portal, lets policy owners review policy details, make payments, update personal information, check the status of their policy, submit claims, and perform various other policy-related tasks in a secure online portal. The online platform provides a convenient and efficient way for policy owners to actively monitor and manage their American General (Corebridge Financial) Life Insurance policies. You can access or register for the online portal at this link here

Why did AIG change their name to Corebridge Financial?

AIG decided to spin off its retirement and life insurance business to a completely separate company. In September of 2002 the new company Corebridge Financial had it’s ipo and became one of the largest insurance providers in the US.

Will my current AIG policy change?

No the current policies will remain the same and be serviced in the Corbridge Financial rebranded name going forward.