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AIG Life Insurance Review 2018

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at a glance

  • Offers a full range of term, whole and universal life products
  • Gets a high number of complaints to regulators for a company of its size
  • NerdWallet ranking: No. 18 life insurance company (out of 18 evaluated)


AIG is one of the biggest insurers in the world, serving 90 million customers in about 80 countries. The insurer became a symbol of the U.S. financial crisis in 2008 when the government bailed out the company for $182 billion in exchange for an equity stake. AIG restructured, repaid the money plus interest, and the U.S. Treasury sold off the last of its shares in the company in 2012.

NerdWallet rank: 18th

AIG ranked No. 18 out of 18 large companies scored by NerdWallet. NerdWallet’s life insurance company rankings combine its A.M. Best rating, consumer complaints and J.D. Power customer satisfaction score.

» MORE: The best life insurance companies

A.M. Best financial strength rating: A (excellent)

AIG’s financial strength is “excellent,” according to ratings agency A.M. Best.

Financial strength is important because it indicates how well an insurer can pay claims. It’s especially important when choosing a life insurance company because claims might not be made until many decades after a policy is purchased.

Consumer complaints: Worse than the median

AIG drew more than the median number of complaints to state regulators in 2016 for a company of its size, according to the latest data from the National Association of Insurance Commissioners.

The association assigns a complaint ratio score to insurance companies, based on the number of complaints to state insurance regulators, adjusted for market share. The median score is 1. A score less than 1 means fewer complaints. AIG’s score for individual life insurance in 2016 was 2.01.

J.D. Power ratings: BELOW AVERAGE

AIG scored among “the rest” (the lowest possible score) for customer satisfaction in the 2017 J.D. Power U.S. Life Insurance Study. The insurer ranked No. 22 overall out of 24 companies included in the survey.

AIG customer satisfaction scores
Overall satisfaction “The rest”
Billing and payment “The rest”
Price “The rest”
Policy offerings “The rest”
Interaction “The rest”
Source: J.D. Power 2017 U.S. Life Insurance Study


More about AIG

Types of life insurance soldOther products & services
  • Term life insurance
  • Whole life insurance
  • Universal, index universal and variable universal life insurance
  • Accidental death insurance
  • Annuities
  • Mutual funds
  • Travel insurance

AIG offers a full range of term, whole, universal, index universal and variable universal life insurance.

The company’s “Quality of Life” policies give access to some of the benefits before death if the insured person is diagnosed with a chronic, critical or terminal illness.