AIG and Pacific Life are two of America’s oldest and largest life insurance companies. Both companies have solid financial ratings, plenty of policy options, and they offer some of the most competitive term premiums in the industry.
We looked at each of those factors, and assessed each carrier's recommended term life policy, to help you decide which company is best for you.
Read our AIG and Pacific Life reviews for more information about each carrier, and our methodology for more about how we research and rate companies.
The Bottom Line
Here are the major differences: AIG offers many flexible term lengths and competitive rates for people with diabetes and pregnancy, but has a high amount of customer complaints. Meanwhile, Pacific Life benefits people with cancer and offers a wider range of coverage amounts.
| AIG | Pacific Life | |
|---|---|---|
| Policy strengths | 10 term length options | Wide range of coverage amounts |
| Price | Very affordable | Very affordable |
| Health conditions | Benefits pregnant women, people with diabetes | Benefits people with cancer, high cholesterol, sleep apnea |
| Financial confidence | Very strong | Very strong |
| Third-party ratings | More complaints | Barely any complaints |
You can also visit Policygenius’ Best Life Insurance Companies page for more possible options.
AIG vs Pacific Life policy comparison
AIG’s term life product Select-a-Term offers 10 possible term lengths, or any duration from 15 to 30 years, or 35 years. That’s a level of flexibility most other carriers do not offer.
Pacific Life’s term life product Promise Term offers five term lengths, but with a wider coverage amount of $50,000 to $1 million.
| AIG | Pacific Life | |
|---|---|---|
| Number of term lengths | 10 | 5 |
| Coverage amount range | $100,000 to $1 million | $50,000 to $1 million |
| Temporary coverage | $1 million | $1 million |
| Policy conversion | Yes | Yes |
| Rate consideration | Yes | Yes |
AIG vs Pacific Life price comparison
Both AIG and Pacific Life offer some of the best rates in the industry, even for seniors over 60 who typically have trouble finding affordable coverage.
| AIG | Pacific Life | Industry Average | |
|---|---|---|---|
| 25 years old | $23.91 | $23.92 | $27.00 |
| 35 years old | $26.00 | $26.05 | $30.37 |
| 45 years old | $54.94 | $55.15 | $60.76 |
| 55 years old | $134.65 | $134.65 | $151.54 |
| 65 years old | $449.02 | $449.02 | $493.98 |
Methodology: Average monthly premiums are based on 20-year term policies offered through the Policygenius marketplace, including AIG, Banner, Brighthouse, Lincoln, Mutual of Omaha, Pacific Life, Protective, Prudential, SBLI, and Transamerica. Rates are based on applicants with a Preferred health classification based in Columbus, Ohio. Rates are valid as of February 2021. Actual prices and policy availability may vary.
AIG vs Pacific Life health conditions comparison
Did you know that life insurance rates are largely dependent on both your current health and your health history? If not, it’s also worth mentioning that not all life insurance companies are created equal, meaning some are more lenient about certain health conditions than others.
AIG is a great choice for people with diabetes and recent weight loss. AIG also considers applicants during any stage of pregnancy, assuming there are no complications, which many carriers do not offer.
Meanwhile, people with a history of cancer, high cholesterol, or sleep apnea will want to consider Pacific Life for better rates.
| AIG | Pacific Life | |
|---|---|---|
| Cancer survivor/Family history | Fair | Excellent |
| Recent weight loss | Excellent | Good |
| Heart attack | Good | Good |
| Diabetes | Excellent | Good |
| Sleep apnea | Good | Excellent |
| Former tobacco use | Good | Fair |
| High blood pressure | Good | Fair |
| High cholesterol | Fair | Excellent |
AIG vs Pacific Life financial confidence comparison
Life insurance companies are scored by credit rating agencies such as A.M. Best, Moody’s, and Standard & Poor’s to see if they’re capable of paying out claims.
These are high financial ratings for both companies. No matter which you choose, either will be able to pay out death benefits to customers.
| AIG | Pacific Life | |
|---|---|---|
| A.M. Best | A | A+ |
| Moody’s | A2 | A1 |
| Standard & Poor’s | A+ | AA- |
AIG vs Pacific Life third-party ratings comparison
Third-party customer review sites rate AIG highly, but the National Association of Insurance Commissioners (NAIC) have received over three times as many complaints about AIG compared to the industry average.
Meanwhile, Pacific Life has only its NAIC complaint index score to go by, which is very low compared to other competitors. Pacific Life could be the better choice if customer service and claims handling are top priorities for you.
| AIG | Pacific Life | |
|---|---|---|
| Consumer’s Advocate | 4.9 / 5 | n/a |
| Consumer Affairs | 3.9 / 5 | n/a |
| NAIC complaint index score | 3.19 | 0.05 |
