AIG Life Insurance

Planning for your future | Life Insurance

AIG Life Insurance Company Review

When you are reviewing life insurance companies, you come across some truly gigantic corporations, and one of the 3 biggest in the United States is AIG Life Insurance. The company has been around for over a century, and even though it nearly went bankrupt, it survived. There was great controversy with the biggest bailout ever handed out by the United States government for a private company.

American International Group has persevered through tough times and is renowned as a symbol of strength and considered as one of the best life insurance companies in the industry. If you have been searching for a life insurance company that ticks all the right boxes, you came to the right place. AIG Life Insurance company offers exceptional life insurance products at affordable rates.

If you wanted to learn more about AIG, read on our review of AIG Life Insurance Company below:

AIG Life Insurance Review

Company History

AIG was founded in Shanghai, China, in 1919, and was called the American Asiatic Underwriters. The company was tremendously successful in its early years, and opened an office in America in 1926. Theychanged their name to American International Underwriters Corporation, but that wasn’t the only name change it underwent. In 1967, after undergoing years of global expansion, it became known as the American International Group or AIG.

The early 2000s were very good for the company, but it did manage to find itself involved with controversies and challenges. AIG had to pay massive fines as their executives were charged by the Securities and Exchange Commission for criminal wrongdoing. The financial crisis of 2008 spelled disaster for the company, which was because of the credit default swaps division.

However, the life insurance department of the company was never compromised, and maintained outstanding ratings from all the major insurance ratings agencies. The United States government bailed out AIG by granting it biggest bailout ever awarded to a private organization. The government owned stock from AIG, which was sold in 2012 for massive profits.

AIG also launched a massive media campaign to thank the government for their generosity with the bailout. It clearly helped AIG survive the tight credit crunch and manage to provide outstanding products and services to clients.

Company Overview

American General Life Insurance Company is nearly a century old, and was founded in China instead of the United States. AIG had a tremendous business model from the beginning, which allowed the company to spread its business operations overseas, which include Europe, Asia, and the United States. AIG decided to sell its shares on the NYSE in 1984, and hasn’t looked back, because the company underwent massive growth in every department. The early part of the 2000ss weren’t kind to the organization as it seemed to court controversy, which resulted in the organization paying out $1.6 billion in fines! That wasn’t the worst of it, because in 2008 AIG was facing bankruptcy because of the credit crunch, and the company only managed to survive as the United States government stepped in with a bailout in the region of $85 billion.

It took the best part of 5 years for AIG to pay back its loans to the Federal Reserve and recover from the heavy losses it incurred. However, the company managed to rebrand, and restructure itself, and managed to remain a massive name in the life insurance industry. The colorful history of AIG would suggest that the company isn’t a safe bet for life insurance, but the life insurance products of the company have never been in threat. In terms of life insurance, there are very few companies out there that can match the financial muscle, security, and ratings of AIG.

The company is one of the biggest corporations in the United States, and has never failed to deliver outstanding customer services. It has different offices all over the world, and is headquartered in New York, New York. If you are looking for a life insurance company in the United States, then AIG Life Insurance Company is a superb choice.

Financial Stability Ratings and Customer Service Ratings

There are very few life insurance companies that can boast greater financial stability, higher ratings, and better customer service ratings than AIG. The company has been a pillar of strength in the life insurance industry, and has acquired phenomenal ratings from all major ratings institutions in the United States. Here are some of the ratings that AIG has acquired:

  • M. Best rating — “A, Good”
  • Standard & Poor’s rating — “A+”
  • Fitch – “A+”
  • Moody’s – “A2”

AIG Is an “A” rated company, which means all major ratings institutions hold it in the highest regard. That is a feat that very few life insurance companies manage to achieve in terms of financial strength, and customer service ratings.

Insurance Products Offered

American International Group, offers several insurance products, which are divided in separate commercial and personal lines. The main products offered by the company are focused on financial planning, life insurance, and estate planning. All the insurance products offered by AIG are among the best for life insurance and health coverage. The products offered by the company are competitive and affordable, while small businesses and middle-class Americans can take advantage of their term life insurance products.

If you require flexibility and permanent coverage, then the Universal Life Insurance product is a good choice. There are also variable and indexed universal life insurance products given out to people that want to take advantage of cash value growth.

Ø  Term Products

When it comes to the term life insurance product line offered by AIG, you can acquire two options, which are:

  1. The AG Select-A-Term
  2. The AG ROP Select-A-Term (return of premium policy)

The AG Select-A-Term

This is a simple term life insurance policy with coverage starting from 10 years to 15 years. People who are looking for exact term lengths will find this policy very beneficial. You can also convert the policy into a level term duration, or till you reach the age of 70, which ever happens first. Most companies tend to limit conversion in the first 10 years, but not AIG.

The AG ROP Select-A-Term

This insurance policy is just like the other term policy, but it allows a return of premium, which is 100% tax free for anyone that has reached the end of their term, and don’t want to keep their policy or have it converted into another policy.

Ø  Universal & Indexed Universal Products

There are several individual universal life insurance product choices offered by AIG, and most of them offer outstanding coverage options. Here are the best universal insurance products AIG offers:

  • AG Secure Survivor GUL II®
  • Elite Global Plus II®
  • Secure Lifetime GUL 3®
  • Elite Index II®
  • Asset Protector®
  • Value+ IUL
  • Elite Survivor Index II®

1.      AG Secure Survivor GUL II

This universal life insurance policy is designed for people between the ages of 50 and 75, and it helps safe guard assets or protect businesses by helping minimize taxes. This guaranteed universal life insurance product offers a minimum level death benefit, if the policy remains active.

2.      Elite Global Plus II

This universal life insurance policy is designed to help people accumulate cash value, and they also get protection for the death benefit of their life insurance. The cash growth is based on the performance of various indices, which could be the EURO STOXX 50 Index, S&P 500, or the Hang Seng Index.

3.      Secure Lifetime GUL 

This universal life insurance product is the simplest offering by AIG, and comes with cash growth, and a level death benefit. It also has allowance for changes that people may want to make with their policy.

4.      Elite IndexII

This is an indexed universal life insurance product, and is one of the simplest policies offered by AIG. The product offers you with all the benefits of an IUL, and keeps your money safe and secure, while you also get a death benefit. There is also a special benefit, apart from the death benefit, which is only offered to people suffering from terminal or chronic illnesses.

5.      Asset Protector

This universal life insurance product comes with additional policy benefits, which can be used as a death benefit for covering medical bills, while the insured is still alive. Anyone that is above the age of 85 will get extended access, along with those suffering from chronic illnesses.

6.      Value+ IUL

This universal life insurance product offers a simplified policy that is meant to cover death benefit gaps in an IUL. It offers policy cash growth, and death benefit protection, which means you get greater help for business and personal expenses in the future.

7.      Elite Survivor IndexII

One of the best things about AIG is that it understands that everyone has different requirements and circumstances in life. Therefore, they want life insurance policies that don’t have any risk attached to them, and this universal life insurance product does that. The Elite Survivor Index II policy offers several options to the policyholder. It has 3 separate interest crediting options, which allows the insurer to choose one that meets their goals for life insurance.

8.      Variable Universal Option

This universal life insurance product is ideal for people who have knowledge about the dangers and changing nature of mutual funds, and how they add aggressive growth in the insurance policy. If you want to acquire this policy, you must talk with a registered representative to qualify.

AIG Company Products

AIG Commercial Insurance Products

When you bring up the names of the biggest insurance corporations in the United States, you will come across the name of AIG. It has been around for nearly a century, and offers amazing policies and products to people in the United States. AIG has a separate line of commercial insurance products, which include the following:

  • Accident and Health
  • Alternative Risk
  • Benefit Solutions
  • Crisis Management
  • Management Liability
  • Marine and Inland Marine
  • Mortgage Insurance
  • Political Risk
  • Professional Liability
  • Property & Casualty
  • Surety
  • Trade Credit
  • Travel Insurance
  • Warranty

Apart from the commercial policies, AIG also offers outstanding property and casualty commercial policies, which are among in the best in the United States. These policies are meant to provide coverage for the following:

  • Worker’s compensation
  • Standalone terrorism coverage
  • Product liability
  • Offshore property
  • Large limits property coverage
  • Human services program coverage
  • Hotel, coastal condo, motels and their risks
  • Healthcare liability
  • General liability
  • Foreign casualty
  • Fitness and recreation centers
  • Firearms business insurance
  • Equipment breakdown
  • Energy warranty
  • Construction all-risk coverage
  • Commercial umbrella

Apart from that AIG also offers group insurance products for businesses, which include financial services, life insurance plans, and group retirement plans. They have also been known to help companies in offering employee benefits packages.

AIG Company Summary

The Bottom Line – AIGLife Insurance Review


When it comes to life insurance corporations in the United States, there aren’t many bigger than AIG. The company is a pillar in the industry, and offers some of the best life insurance products and policies that you are likely to find. They have extremely strong financial strength and customer service ratings, and are renowned for holding high ethical standards.