AIG, an A rated company founded in 1919, offers a unique term life insurance product that allows you to choose nonstandard term lengths. For example, you can choose a term of 18 or 19 years instead of the standard 20. You can also customize your policy with a wide range of riders.
AIG can be a little slower than average to get from application to signed policy, but it makes up for this by having an electronic application and allowing you to perform several other actions online, such as updating your beneficiaries or changing your address. AIG also has customizable term lengths, which means you can get a term of 18 or 22 years. Most carriers limit terms to round numbers of 15, 20, and 30.
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In January, 2015, AIG won four awards at Global Finance's 2015 World's Best Global Insurers awards. Speaking about the awards, Joseph D. Giarraputo, editorial director of Global FInance, said that AIG and the other organizations honored have "done the best job of meeting the widely varied needs of their clients around the world."
Each insurer approaches health conditions differently. One insurer might ignore a heart attack from a few years ago, whereas a different insurer might rate you as a higher risk for the same thing. Here are the details of how AIG treats a variety of common health conditions from an underwriting perspective.
|Recent Weight Loss||Excellent|
|Former Tobacco Use||Good|
|High Blood Pressure||Good|
Excellent - Above average; company provides excellent coverage for clients with this condition.
Good - Spot on; company doesn’t look at this condition unfavorably in underwriting.
Fair - Could use some work; clients with this condition may be issued a lower health rating, and subsequently higher rates than other insurers.
After you're a policyholder
$500,000, 20-year term life insurance policy for healthy, nonsmoking individuals, in California, monthly premiums
|Company||Plan||Male - Age 30||Male - Age 40||Male - Age 50||Female - Age 30||Female - Age 40||Female - Age 50|
|Mutual of Omaha||Term Life Answers||$21.66||$33.47||$85.53||$23.41||$28.66||$64.09|
|Pacific Life||Pacific PROMISE Term||$20.84||$29.59||$77.09||$19.18||$26.68||$61.67|
|Protective||Custom Choice UL||$20.37||$28.91||$76.82||$17.93||$25.25||$55.75|
|Protective||Classic Choice Term||$20.21||$28.38||$75.68||$17.63||$25.94||$55.47|
|Prudential||Return of Premium Term||$101.00||$143.62||$291.99||$88.12||$130.04||$253.37|
|SBLI||Level Premium Term||$21.32||$40.05||$96.06||$24.48||$34.71||$65.87|
Annual Payment Discount
Payment methods available
Check; Auto bank draft; Credit card only for first payment (and not available in all states)
Is coverage available without a medical exam?
Yes, up to $99,999
What is the rule for converting the policy?
The policy is convertible until the earlier of the end of the term or to age 70
Is temporary coverage available?
Yes, up to $1,000,000.
Riders are additions to your overall life insurance policy that turn a basic life insurance policy into something that covers more circumstances.
Child Protection Rider
Provides life insurance coverage for all eligible children.
Disability Income Rider
If you become totally disabled as a result of a qualifying event, you will not have to pay premiums for a fixed period of time.
Accelerated Death Benefit Rider
Allows you to receive a portion of the death benefit if you are diagnosed with a qualifying terminal illness.
Accidental Death Benefit Rider
Pays an additional death benefit on top of the base policy's death benefit if the death resulted from qualifying accidental injuries.
This policy, like all term life policies offered on our site, provides life coverage for a specific period of time (the term). The key features of this policy are standard across all the term policies we offer:
The review on this page is only for this company's term life insurance products.