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AIG Life Insurance Review

Jan. 2, 2019
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at a glance

  • One of the largest insurers in the world.
  • Offers a full range of term, whole and universal life products.
  • Gets a large number of complaints to regulators for a company of its size.


Amid the COVID-19 pandemic, not all companies are accepting new life insurance applications. For the latest information on how to cope with financial stress during this emergency, see NerdWallet’s financial guide to COVID-19.

AIG overview

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.

» MORE: Compare life insurance quotes

Consumer complaints: Worse than the median

AIG drew more than the median number of complaints to state regulators in 2017 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, and a score higher than 1 means more complaints.

The average score, weighted for market share, for AIG’s life insurance subsidiaries was 2.2 in 2017 for individual life insurance.

J.D. Power ratings: Below average

AIG scored among “the rest” of companies (the lowest possible score) for customer satisfaction in the 2018 J.D. Power U.S. Life Insurance Study. The insurer ranked No. 22 overall out of 23 companies included in the survey.

Customer satisfaction category AIG's score
Overall satisfaction"The rest"
Billing and payment"The rest"
Price"The rest"
Policy offerings"The rest"
Interaction"The rest"

» MORE: The best life insurance companies

AIG life insurance coverage options

Term life: AIG’s Select-a-Term and QoL Flex Term both offer 18 different term possibilities — 10 years, any length from 15 to 30 years, or 35 years. The QoL Flex comes with the ability to access the death benefit if the insured has a critical illness while the policy is still in effect. Both term life insurance policies can be converted to permanent coverage at any time during the term.

Permanent life insurance: AIG offers guaranteed-issue whole life insurance policies of $5,000 to $25,000 for applicants ages 50 to 85. The application involves no health questions or medical exam. The company also offers several universal, index universal and variable life policies. The policies have varying potential to accumulate cash value. Two index universal life policies come with the ability to access the death benefit if the insured has a critical illness.

More about AIG

Types of life insurance soldOther products & services
  • Term life insurance.
  • Index universal life.
  • Universal.
  • Variable universal life insurance.
  • Whole life insurance.
  • Annuities.
  • Auto, home, yacht, liability insurance and loss-prevention services for high net-worth clients.
  • Insurance for businesses.
  • Mutual funds.
  • Travel insurance.