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AIG Final Expense Life Insurance Review [2023]

AIG Final Expense Insurance: 60-Second Review

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While AIG sells a lot of insurance product, its final expense options are limited. It’s main product is a Guaranteed Issue product, which we do no recommend due to its very high price.
AIG Pros & Cons

AIG Customer Reviews

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Burial Insurance

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    Who Is AIG Life Insurance?

    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.

    Company 101Details
    AddressP.O. Box 305355
    Nashville, TN 37230
    Phone(800) 811-2696
    BBB RatingB
    A.M. Best RatingA (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)

    Whether you need the funds to cover cremation or burial, AIG’s guaranteed issue whole life plan will step in so your family does not have to.  There are no restrictions as to how the payout is used.

    Product Availability

    AIG’s 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
    • Waiting Period: 2 years

    AIG Life Insurance Reviews & Ratings

    AIG has a B rating from the Better Business Bureau (BBB).  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.”

    AIG Customer Complaints

    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 is best to contact AIG directly for specific information on the payout timeline for a particular policy.

    • Is AIG life insurance reputable?

      AIG is one of the best-rated life insurance companies with regard to its customer service and client reviews. 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.

    Research Cited
    1. AIG Customer Reviews.  (February 25, 2022).  TrustPilot
    2. AIG Profile.  (February 25, 2022).  Better Business Bureau
    No-Exam, Cash Value
    Burial Insurance

    15 companies competing for your business

    97% of the time we beat Colonial Penn

    30 days to get your money back, no questions asked

    * Based on website quote requests, through 2/28/23.
    (Check your rate to see their rates vs. ours)