Protective vs AIG life insurance

Protective and AIG both offer terrific pricing, but if you have a history of cancer or other complicated conditions, Protective should be your choice. But if you want more flexibility when it comes to term lengths, give AIG a go.

Tim Torres

By 

Tim Torres

Tim Torres

Reviews Editor

Tim Torres is a reviews editor at Policygenius, where he specializes in life insurance, homeowners insurance, auto insurance, and more. His work has also appeared in PC Mag, Tom's Guide, Tech Times, and elsewhere.

Updated February 2, 2022 | 3 min read

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Protective and AIG are two of America’s largest life insurance companies, both with solid grades from customers and financial agencies alike, and they both offer highly competitive term life insurance rates.

We looked at each company’s pricing, customer service, and financial stability ratings, and assessed each carrier's recommended term life policy, to help you decide which company is best for you.

Read our Protective and AIG reviews to find more details about each carrier, and our methodology for more about how we research and rate companies.

All set to shop?

The Bottom Line

If you have a history of cancer or high cholesterol and want greater coverage amounts, you’ll want to go with Protective. But if you want more flexibility when it comes to term lengths, and don’t mind the higher amount of customer complaints, AIG should be your choice.

Either way, you’ll be insured by a strong life insurance carrier with strong financial bonafides and some of the most affordable rates in the industry.

ProtectiveAIG
Policy strengthsVery high coverage amountsWide range of term lengths available
PriceVery affordableVery affordable
Health conditionsBenefits people with cancer, high cholesterolBenefits people with diabetes, recent weight loss, pregnancy
Financial confidenceVery strongVery strong
Third-party ratingsBarely any complaintsMore complaints than average

Naturally, the best life insurance company for you depends on your situation, which is why it's important to pay attention to the policy details and health considerations provided below before you buy.

Protective vs AIG term life insurance policy comparison

Protective’s term life product Classic Choice Term offers many term lengths up to 40 years, with coverage amounts from $100,000 to $50 million. 

AIG term life product Select-a-Term offers 10 possible term lengths: any duration from 15 to 30 years, or 35 years.

ProtectiveAIG
Number of term lengths710
Coverage amount range$50,000 to $50 million$100,000 to $1 million
Temporary coverage$1 million$1 million
Policy conversionYesYes
Rate considerationYesYes

The big differences: Protective offers a much higher coverage amount than AIG. But AIG offers more term length options.

Protective vs AIG term life insurance price comparison

Both Protective and AIG have near-identical pricing for term life insurance policies, even for older shoppers. 

ProtectiveAIGIndustry Average
25 years old$23.90$23.91$27.00
35 years old$26.00$26.00$30.37
45 years old$55.94$54.94$60.76
55 years old$134.63$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.

Protective vs AIG health conditions comparison

Did you know that life insurance costs are largely based on your health and health history?

And did you know that some companies are more lenient than others for certain health conditions and lifestyle choices? This means that, depending on your health scenario, you can get a better deal from one carrier compared to another.

Here’s how Protective and AIG rate the most common life insurance health concerns. An “Excellent” means your rates will barely see an impact, whereas “Good” means better rates than average, and “Fair” correlates to just okay rates.

ProtectiveAIG
Cancer survivor/Family history Good Fair
Recent weight lossGood Good
Heart attackGoodGood
DiabetesGood Excellent
Sleep apnea Good Good
Former tobacco useFair Good
High blood pressureGoodGood
High cholesterolGood Fair

If you have a family history of cancer or high cholesterol, you’ll want to go with Protective as your carrier of choice.

Meanwhile, AIG is one of the best possible choices for people with diabetes. People with recent weight loss, a history of heart attack, sleep apnea, high blood pressure, and former tobacco use will fare well, too. AIG also considers applicants during any stage of pregnancy, assuming there are no complications, which many carriers do not offer.

Protective vs AIG financial confidence comparison

By looking at a company’s financial strength you can find a company that you can trust and work with. Credit agencies such as A.M. Best, Moody’s, and Standard & Poor’s, can tell you how well life insurance carriers are able to payout claims. Both companies have high financial ratings, with the slight edge given to Protective for its higher grades. But no matter which you go with, you’ll be able to rest easy when it’s time to file a claim.

ProtectiveAIG
A.M. BestA+A
Moody’sA1A2
Standard & Poor’sAA-A+

Protective vs AIG third-party ratings comparison

Protective has an excellent review from Consumer’s Advocate, which rates companies based on policy clarity and customer service, and a low complaint index score from the National Association of Insurance Commissioners (NAIC). That’s good, it means customers have barely made any complaints to that agency.  

And although AIG is rated highly by Consumers Advocate and Consumer Affairs, a platform that lets verified customers post reviews, the NAIC has received over three times as many complaints compared to the industry average. If that concerns you (keep in mind AIG has many satisfied customers too), you may want to go with Protective.

ProtectiveAIG
Consumer’s Advocate4.8 / 54.9 / 5
Consumer Affairsn/a3.9 / 5
NAIC complaint index score0.793.19