Burial Insurance
Who Is AIG Life Insurance?
Today, GetSure reviews AIG life insurance — the good, the bad, the ugly. Let’s get to know the company!
American International Group Inc. (AIG) is an international insurance company offering life insurance, P&C insurance, retirement products, and other financial services in over 80 countries.
AIG was at the center of the financial crisis storm in 2008. After years of restructuring and selling off subsidiaries, AIG has recovered its reputation and its position as a global provider of insurance products.
| Attribute | Details |
|---|---|
| Founded | 1926 |
| Address | P.O. Box 305355 Nashville, TN 37230 |
| NA | |
| Phone | (800) 811-2696 |
| Website | https://www.lifeandretirement.aig.com/individuals/life/giwl |
| BBB Rating | B |
| A.M. Best Rating | A (Excellent) |
AIG Life & Retirement consists of four operating segments: Individual Retirement, Group Retirement, Life Insurance and Institutional Markets. It includes the following major U.S. life insurance companies: American General Life Insurance Company; The Variable Annuity Life Insurance Company; and The United States Life Insurance Company in the City of New York.
AIG Final Expense Insurance
What type of burial insurance policy does AIG sell?
AIG’s product to cover burial or other funeral expenses is a guaranteed issue whole life insurance policy.
There are no health questions or any medical underwriting of any kind. Your acceptance is guaranteed.
Since it’s a whole life policy, the way it works is straightforward:
- Premiums never increase
- Coverage never decreases
- The policy never expires (no matter your age)
Numerous AIG whole life insurance reviews confirm that, whether you need the funds to cover cremation or burial, this plan will step in so your family does not have to. You’ll be glad to know there are no restrictions as to how the payout is used.
Product Availability
AIG burial insurance policy has limits on the amount of coverage you can buy and where you can buy it:
- States: All 50 & DC except NY
- Ages: 50-85
- Coverage: $5,000- $25,000
- AIG Life Insurance Payout Rate: 96%
- Waiting Period: 2 years
AIG Life Insurance Reviews & Ratings
Is AIG life insurance good?
Accumulating many AIG life insurance reviews BBB gave the company a B rating. That is the lowest among the 20+ life insurance companies we have reviewed.
The Company has had 76 complaints in the past three years, 22 of which were closed in the last 12 months. The majority of these complaints were regarding a “Problem with a Product or Service.”
What about the other AIG life insurance ratings?
A.M. Best, a credit rating agency for the insurance industry, has given AIG an A (Excellent) financial strength rating. This indicates that AIG will find it very easy to pay out on claims.
AIG Frequently Asked Questions
Are American General and AIG the Same Company?
Yes. AIG acquired American General Life Insurance Company in 2001. American General was established in 1960, and subsequently expanded its presence nationally while adding new financial products.
How long does it take AIG life insurance to pay out?
The length of time it takes for an AIG life insurance policy to pay out can vary depending on the specific policy and circumstances of the claim. Typically, the process can take several weeks to several months. Factors that can affect the timeline include the completeness of the required documentation, the complexity of the claim, and the investigation process. It’s best to contact the company directly for specific information on the payout timeline for any particular AIG life insurance policies.
Is AIG life insurance reputable?
Or, rather, is AIG life insurance legit? AIG is one of the best-known life insurance companies with regard to its customer service and AIG insurance reviews from clients. However, because of the AIG life insurance complaints, the company received just a 2 out of 5 rating from J.D. Power for customer satisfaction and has a disproportionately high NAIC Complaint Index as compared to its size.
How good is AIG life insurance?
AIG is a well-established and reputable insurance company that offers a range of life insurance policies. Overall, AIG is considered to be a good choice for life insurance. However, as with any insurance company, the quality of the policies and the level of customer service can vary. Some of the positive aspects of AIG’s life insurance include:
- A wide range of life insurance options to choose from, including term life, universal life, and whole life insurance policies.
- AIG is a financially stable company with a long history in the insurance industry.
- AIG has a good reputation for paying out claims in a timely manner.
It is important to do your research and compare different insurance companies and policies before making a decision. It is also important to read the policy details and understand the terms and conditions before purchasing a life insurance policy from AIG or any other company.
Conclusion
Is AIG a good life insurance company? We gave you the facts, but the decision is yours!
We hope you enjoyed our AIG review.
If you have any additional questions, please don’t hesitate to leave a comment or send us an email.
Warm Regards,
The GetSure Team
Article Sources
- AIG Customer Reviews. TrustPilot
- AIG Profile. Better Business Bureau