at a glance
- One of the largest insurers in the world.
- Offers a full range of term, whole and universal life insurance products.
- Gets a high number of complaints to regulators for a company of its size.
AIG is one of the biggest insurers in the world, serving millions of customers in more than 80 countries. AIG offers term, whole and universal life insurance to individuals. The company also offers a range of insurance and investment products to businesses.
AIG life insurance
AIG offers a range of term and permanent life insurance products, as well as accidental death and dismemberment insurance (AD&D). You can buy policies through AIG Direct, a subsidiary of AIG, or through an independent insurance agent.
AIG term life insurance
AIG offers two term life insurance products: Select-a-Term and QoL Flex Term.
Both types can be converted to permanent coverage at any time during the term. AIG Direct offers 18 different term length possibilities — 10 years, any length from 15 to 30 years, or 35 years.
The main difference between the two policies is that the QoL Flex product comes with a built-in “Quality of Life” accelerated death benefit, which lets you take funds from your policy if you become critically or terminally ill while the policy is in effect.
» MORE: Compare life insurance quotes
AIG permanent life insurance
AIG offers the following types of permanent life insurance, all with the potential to accumulate cash value:
- Guaranteed issue whole life insurance, with coverage ranging from $5,000 to $25,000 for applicants ages 50 to 85. Guaranteed issue life insurance doesn’t require a medical exam or health questions to qualify for coverage.
- Universal life insurance, including guaranteed universal and indexed universal life insurance policies.
- Variable universal life insurance, which gives you the opportunity to build cash value through investments.
Select universal and indexed life insurance policies come with Quality of Life coverage, which includes living benefits to cover critical and terminal illnesses. Some products aren’t available in all states.
AIG complaints and customer satisfaction
Over three years, AIG has drawn far more complaints to state regulators than expected for a company of its size, according to a NerdWallet analysis of data from the National Association of Insurance Commissioners.
AIG scored among “the rest” of companies (the lowest possible score) for customer satisfaction in the 2019 J.D. Power U.S. Life Insurance Study. The insurer ranked No. 24 overall out of 24 companies included in the survey.
More about AIG
Other products and services include:
- Travel insurance.
- Auto, home, yacht and liability insurance, as well as loss-prevention services for high-net-worth clients.
- Supplemental accident and health insurance.
Investment and other products:
- Retirement planning services.
- Structured settlements, which allow injury victims to receive compensation over time.
- Home loans.
- Mutual funds.
METHODOLOGY: INSURER COMPLAINTS
NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2016-2018. To assess how insurers compare to one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period. Ratios are determined separately for auto, home and life insurance.