Aig Life Insurance: What You Need To Know

AIG is a leading global insurance organization that provides a wide range of property casualty insurance and other financial services. AIG Direct Life Insurance is a part of the AIG Life Insurance Division, which has been helping Americans secure life insurance at affordable prices since 1995. AIG Direct offers a direct-to-consumer approach to life insurance, providing a simple, convenient, and personalized way to choose a policy. With flexible coverage, customizable term lengths, and affordable rates, AIG Direct aims to help individuals and families protect their loved ones.

AIG Direct Life Insurance

AIG Direct offers flexible coverage and customisable term lengths at affordable rates. Their services include Whole Life Insurance, Guaranteed Issue Whole Life Insurance, Quality of Life Insurance, and Universal Life Insurance. Whole Life Insurance provides a lifetime of protection with a policy that builds cash value over time at a locked-in rate. Guaranteed Issue Whole Life Insurance is a simple and quick solution for seniors, offering guaranteed protection and permanent coverage without a medical exam. Quality of Life Insurance provides innovative benefits that can be accessed while the insured is still alive, including affordable rates, fixed premiums, and financial assistance. Universal Life Insurance offers flexible coverage and cost-effective rates for a lifetime.

AIG Direct also offers the convenience of purchasing life insurance online at any time, providing an easy and accessible way to secure coverage. With their direct-to-consumer approach, licensed agents help individuals select a policy that meets their unique needs, ensuring a personalised and reliable experience.

AIG Direct is committed to helping individuals and families protect what brings them joy, offering peace of mind and enabling them to worry less and enjoy life's moments.

Whole Life Insurance

AIG Whole Life Insurance is a type of permanent life insurance that offers coverage for an individual's entire life, rather than for a limited term. This means that as long as the policyholder maintains the policy by paying the premiums, their beneficiaries will receive a death benefit when the policyholder passes away. Whole Life Insurance also has the added benefit of building cash value over time, which can be accessed by the policyholder if needed. This cash value grows at a locked-in rate, providing a guaranteed return on investment.

AIG's Whole Life Insurance plan is designed to provide financial security and peace of mind for individuals and their loved ones. It offers flexible coverage options and customizable term lengths to meet the diverse needs of its customers. The plan is available to customers aged 17 to 84 and offers sums insured of up to £20 million. Premiums are guaranteed and the plan pays out upon the death of the policyholder or in the event of a terminal illness.

One unique feature of AIG's Whole Life Insurance is the access to the Best Doctors service, providing customers with expert medical advice and support. Additionally, customers can increase their cover by up to £5 million if the government announces legislative changes to the rate of Inheritance Tax (IHT). The plan can be tailored to single or joint life coverage and can be written in trust online.

While whole life insurance tends to be less popular than term life insurance due to its higher cost, it can still be a valuable option for individuals who anticipate their coverage needs changing over time but do not expect those needs to diminish. AIG's Whole Life Insurance plan offers a simple and conventional approach to this type of coverage, providing security and flexibility for individuals and their beneficiaries.

Overall, AIG's Whole Life Insurance plan offers a comprehensive set of features, including high maximum coverage, acceptance of 90% of applications without a medical exam, and the ability to link benefits to increases in the Retail Prices Index (RPI). However, it's important to consider the lack of surrender value and the longer waiver of premium period when compared to similar products in the market.

Guaranteed Issue Whole Life Insurance

AIG is a leading global insurance organization that provides a wide range of property casualty insurance and other financial services. AIG Direct is a subdivision of AIG that offers a direct-to-consumer approach to life insurance, allowing customers to select their life insurance policy in a personalized, cost-effective, and reliable manner.

One of the life insurance products offered by AIG Direct is Guaranteed Issue Whole Life Insurance. This product is a simple and quick life insurance solution for seniors, offering guaranteed protection and permanent coverage with no medical exam. Eligible seniors aged 50-80 can secure a policy to help cover expenses like medical bills, credit card debt, or funeral and burial costs, protecting their loved ones from future financial burdens. The total amount of all AIG Guaranteed Issue Whole Life Insurance policies on any person cannot exceed $25,000 in the aggregate, and premiums paid may exceed the amount of coverage.

In addition to guaranteed acceptance, this policy offers fixed payments that remain the same as the policyholder ages, and includes two living benefit riders at no extra cost. The first rider, for chronic illness, will return all of the premiums paid if the insured cannot perform at least two out of six "activities of daily living" or is diagnosed with a severe cognitive impairment. The second rider, for terminal illness, allows the insured to access up to 50% of the death benefit if they are diagnosed with a terminal illness and given a life expectancy of two years or less.

AIG's Guaranteed Issue Whole Life Insurance is available in all states except Maine and New York, where AIG is not licensed to do business.

Universal Life Insurance

Guaranteed universal life insurance allows policyholders to choose the age at which their policy will end but offers little to no cash value opportunities. Indexed universal life insurance ties cash value opportunities to the stock market, while variable universal life insurance allows policyholders to manage sub-accounts for their selected cash value investments.

Term Life Insurance

AIG Direct is a part of AIG's Life Insurance Division, which has been trusted by over a million families. Since 1995, AIG has been providing valuable and in-depth life insurance information to help Americans secure life insurance at affordable prices. With its direct-to-consumer approach, AIG's licensed agents make the process of selecting a life insurance policy personalized, cost-effective, and reliable.

AIG offers $250,000 of Term Life Coverage for as low as $13 per month. Their Term Life Insurance provides flexible coverage and customizable term lengths at affordable rates. This type of insurance offers coverage for a set time period, which can be tailored to meet your family's needs.

When choosing Term Life Insurance, you can select the duration of the coverage, typically ranging from 10 to 30 years. This type of insurance is often chosen by individuals who want to ensure their loved ones are financially protected during critical years, such as when children are dependent on their parents' income or when there are significant financial commitments like a mortgage.

In summary, AIG's Term Life Insurance offers flexibility, affordability, and personalized coverage to meet the diverse needs of individuals and families. It is a reliable option for those seeking financial protection for their loved ones during specific periods, ensuring a secure future.

Frequently asked questions