AIG Whole Life Insurance Review

aig whole life insurance

AIG Whole Life Insurance is a popular choice for adults who need a guaranteed life insurance policy from a respected, stable insurance company. If you are in the market for a whole life insurance plan and aren’t sure what companies have competitive rates and reliability, our AIG Whole Life Insurance Review will give you important information, helping you make an educated decision about your life insurance.  

American General Life Insurance 

First, a little background information about American General Life Insurance Company, the insurer behind the AIG Whole Life Insurance Plan. The company we now know as American General or AIG started over 100 years ago as an international insurance company- way ahead of its time in having global relationships. AIG has stood the test of time surviving two world wars and ups and downs in the economy. Unique markers in AIG’s history include women in key positions long before it was commonplace and investing in relational repairs between countries due to international interests post WWII. Now, American General Life Insurance is well known for being a reliable source for life insurance as well as their generosity as a company through philanthropic programs. 

Whole life insurance vs. Term life insurance

AIG has a unique fit in the life insurance market. When considering the AIG Whole Life Insurance Review, it is important to mention the two types of life insurance offered by AIG. Those are whole life insurance, being reviewed here, and term life insurance. The difference between the two is that term life insurance has an expiration period and is a more extensive application process. Whole life insurance does not expire and is much easier to apply for. What makes the AIG Whole Life Insurance plan unique is that ALL AIG Whole Life policies are guaranteed issue life insurance plans. That means that everyone within the ages 50-85 are automatically approved.

This is a rarity with only a few companies such as Gerber Life Insurance and Great Western Life Insurance specializing in this way. Most other life insurance companies offer whole life insurance that has more options than just a guaranteed acceptance life insurance plan. If you are looking at AIG as an option, it is important to know it is a specialty life insurance product. More later about how using a life insurance broker will insure you get the right guaranteed life insurance for seniors plan. 

Positives to the AIG Whole Life Insurance

aig whole life insurance

AIG Guaranteed Issue Whole Life Insurance has many positives. AIG is a stable company with high ratings of reliability by AM Best. A Guaranteed Life Insurance plan such as the AIG Direct Whole Life Insurance policy means that the client is guaranteed to be approved. There are no medical exams or health questions to answer. The application process is simple and approval is instant. The monthly premium can never be raised once the policy is issued and the AIG Guaranteed Life Insurance Plan cannot be cancelled for any reason other than non-payment. The policy is available to customers up to 85 years old. Most final expense life insurance that is guaranteed approval only goes to 80 years old.

This is where AIG stands out among competitors, covering seniors with a 100% approval rate for ages 80-85 when most other companies would be a decline. Often times, this age extension benefits clients who have a history of heart disease, stroke, cancer, alzheimers, or other chronic illnesses. 


AIG offers “living benefits” for those policyholders who become chronic or terminally ill while still living. These accelerated death benefits that AIG provides ensures your family will have some financial protection if you should become chronic or terminally ill while living.

AIG will provide benefits up to 50 percent of the death benefit if you should become terminally ill while living.

AIG’s chronic illness rider will return all of your premiums back if you become chronically ill while living and you can’t perform two of the six activities of daily living. Alzheimer’s & Dementia is also included in this rider.

Quick look at the AIG Whole Life Insurance Plan

  • Short application
  • Guaranteed approval
  • No health questions or medical exam life insurance
  • Fixed monthly premium for life
  • Cannot be cancelled even due to aging or health problems
  • Guaranteed for ages 50-85
  • Plans available from $5,000-25,000

Downsides to AIG

The main downside to the AIG is that all guaranteed issue life insurance plans have a two year waiting period before the death benefit is paid out.  AIG doesn’t present this as a no-waiting period plan because they will refund 100% of premiums paid plus interest if the insured dies in the first two years. This is a pretty good deal- being guaranteed a refund if the policy doesn’t work out due to premature death. So while the two year wait is considered a downside, for people who can’t qualify for immediate life insurance coverage, they are usually accepting to this condition if it is their only option for life insurance. 

Comparing Whole Life Insurance AIG Rates

AIG Whole Life Insurance rates are comparable to other companies specializing in guaranteed acceptance plans. The biggest thing to look at are the over 80 options because no one else will be offering those plans. Additionally, AIG final expense insurance is backed by a company with a 100 year track record of taking care of its clients. If the rates are higher than you expected, keep in mind that AIG Guaranteed Life Insurance rates are going to be more expensive than whole life insurance for clients who are able to get immediate coverage due to a better health history.

However, a mistake many consumers make is that they can’t qualify for a better plan.  Once you look over AIG’s rates, read on to find out how using an insurance broker can help you be certain you are getting the right insurance plan for your needs.

AIG Whole Life Insurance Sample Rates:    

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Why use an insurance broker?

So, you have read the AIG Whole Life Insurance review and may be ready to look into a life insurance plan. Stop for a moment and consider whether you might qualify for a plan that doesn’t require a two year waiting period. Many people assume due to a previous decline or certain health problems that they can’t get a preferred life insurance plan. This is where using a broker comes in. A life insurance broker can help you compare 25 or more companies to be sure you are getting the best program possible based on your age and health. Numerous insurance companies offer plans through insurance brokers including the AIG Whole Life Insurance plan.

Even though it is appealing to skip any health questions and speed up the process, taking a few extra minutes to answer a short list of yes and no questions can save you a lot of money and eliminate the waiting period for your life insurance coverage.

Guaranteed Life is a brokerage firm who can help you through this process. Brokers usually help 90% of their clients with a no-waiting period life insurance plan, all because they have so many options to choose from. 

Conclusion- AIG Whole Life Insurance Review


AIG is a competitive, reputable company who you can’t go wrong with. The most important factor is that when your family needs financial protection, AIG will be there when it counts most. The AIG guaranteed issue whole life insurance is the way to go for those seniors between 50-80 with serious health problems.

For many others, AIG final expense plans will fund their families with the money needed to pay for final expenses such as funeral costs, memorial services, and other remaining debts. If you want a no frills plan with a INSTANT approval process. American General Life Insurance is a great fit for your guaranteed life insurance needs. To compare rates from several companies, call us at 800-517-0810 so we can help you determine if whole life insurance AIG is best for your needs.