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American General (AIG) Life Insurance Ratings
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Reasons for Buying from American General (AIG)
Customers of American General (AIG) originally decided to purchase from the company for these reasons:
| Recommended by friend or family member | 22% |
| Reputation | 18% |
| Offered best price | 12% |
| Saw online ad | 12% |
| Financial Strength rating | 11% |
| Other | 8% |
| Saw TV commercial | 5% |
| I had other insurance with this company | 4% |
| The company website and mobile apps are easy to use and helpful | 4% |
| Was the company my parents had | 4% |
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About American General Life Insurance
Products offered:
- “Quality of Life” Insurance – combinations of life insurance, living benefits, and interest-crediting options.
- Term life
- Universal life
- Variable universal life
- Accident and Health
Best Life Insurance Companies 2020: How AIG Life Insurance Measures Up
AIG delivered solid scores in this year’s Best Life Insurance Companies survey with an overall score of 83.90 and 12th place. AIG’s highest ranking was 10th for ease of website and apps. Other rankings include 11th for customer service and 12th for value for price. Eighty-one percent of the surveyed policyholders said they would recommend AIG to family and friends for life insurance.
Gauging an insurance company
Before buying with a company it is wise to check on a company's financial strength and complaint record. The A.M. Best rating listed above gives you an idea of American General's financial strength to pay claims. A complaint ratio can be found on the National Association of Insurance Commissioners (NAIC) site. The median complaint ratio from the NAIC is always 1.00. This means half of the insurers have a complaint ratio of under 1.00 and half have a ratio above. Basically, numbers lower than 1.00 are better with fewer complaints than the median and a number higher than 1.00 has more complaints than the median. For life insurance, American General (NAIC# 60488) had a complaint ratio of 1.61 for individual life and 15.31 for group life for 2018. 2019 complaint numbers will be available in 2020.
Company Background
Nearly one hundred years of progress
AIG’s roots began in 1919 when an American named Cornelius Vander Starr created an insurance agency in Shanghai, China. Nelle Vander Starr became the first female executive after joining the operations in Shanghai. The company opened its first U.S. office in 1926, and continued to grow its American operations. C.V. Starr and his company were actively committed to taking care of military families during WWII, helping to relay Red Cross correspondence and opening new offices abroad to provide for U.S. military.
AIG provides life insurance through its company, American General, which it acquired in 2001.
American General Insurance Company was launched on May 8, 1926 in Houston, Texas and was one of the first multi-line insurance companies in the nation. In 1945, American General completed the first of its own strategic acquisitions, Seaboard Life Insurance Company, making American General the only company in the southern United States to underwrite fire, life, automobile and casualty insurance.
The ability to keep pace with the rapid changes of today’s world is a point of pride for the insurer. Today, AIG is one of the first insurers to receive FAA approval to use drones to conduct inspections for risk assessment – also pioneering unmanned aircraft insurance.
Consider AIG for alternative life insurance plans
AIG offers four versions of a unique product called “Quality of Life” Insurance. The goal of these arrangements is to provide more flexibility and access accumulated benefits or interest – dubbed “living benefits.” These benefits can help with chronic, critical and even terminal illnesses or conditions. Individuals or families that might benefit from the flexibility of these accounts might consider AIG.
Contact information
Corporate headquarters
AIG
80 Pine Street
New York, New York 10005
Customer service: 1-888 543-3371
Life insurance customers: 1-800-888-2452
American General Life Insurance Company
P.O. Box 4373
Houston, Texas 77210
Feedback of Surveyed Policyholders
Our survey asked policyholders to share experiences or give feedback that they would
like to share with others looking to potentially buy from their current insurance company. Here's what they had to say:
Positive Feedback
Neutral/Negative Feedback
"It is a safe company"
"It is easy to contact them"
"Somewhat satisfied but there are many things need to be improved"
"Good coverage with decent price, but employees can be unclear with what exactly you're getting and also persistent"
"Will not recommend to anyone in future."
"I really don't know. I just pay every month. I do not like that my price went up, I'll tell ya that much. "
"I just hope that all the promises are fullfilled if something happens to me."
"I've never really dealt with them past paying them."
"The company used to have agents, but they closed all of their offices and run only out of New York. Very frustrating to get things done."
"There are many covers and options suggested by the company such as terminal illness cover, critical illness cover and guaranteed insurability options,etc."
"They do not update records between departments and my spouses ex wife had full access to an account she did not own/ have anything to do with."
"They even don't know how to treat there customers."
"Price was cheapest for the coverage but I thought it was too high still"
"Have not had to deal with term life insurer at all. I just bought and let it be."
"I'm satisfied but I feel that at my age life insurance might not be a good deal so I'm thinking if I should keep it, I have one 3 year old but enough savings so I think insurance might just be money wasted. If I was younger with more working in my future then it might be more essential."
"Have not had any dealings with them since purchasing the policy. Get our yearly bills and pay them."
"Expensive"
"Had a bad experience with this company after I had my policy for a number of years, had to involve the attorney generals office from the state I reside in to resolve the issue in my favor."
"I just got my insurance so am not really sure yet"
"Fair price - no problems"
"Difficult to recommend any company to anyone, as all have different needs and not safe to advise anything."
"Not a good choice."
"They are ok, but they do not make contact much at all. I have the premium bank drafted each month and for the most part I never talk to anyone from the company."
"Haven't had any experience with them, just pay."
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"They process claims and fix problems very quickly"
-Age 18-36, Alabama"My insurer helped me when I had a disease. It did not care that I was late in payments due to economic problems. Later I covered the expenses."
-Age 18-36, Arizona"I just like it a lot"
-Age 18-36, California"Good experience"
-Age 18-36, California"My insurer has good customer service."
-Age 18-36, California"The quality of price is excellent"
-Age 18-36, California"This company is very good"
-Age 18-36, California"It is acceptable. I like it."
-Age 18-36, Delaware"Good experience"
-Age 18-36, Florida"Like it very much. Innovative thinking"
-Age 18-36, Georgia"Love this company"
-Age 18-36, Illinois"Easy to navigate websites, no delay in response."
-Age 18-36, Indiana"I would want others to know that this company offers some of the lowest insurance rates compared to the other companies."
-Age 18-36, Louisiana"They respond to your requests quickly"
-Age 18-36, Missouri"Website is fantastic and extremely easy to navigate"
-Age 18-36, New Hampshire"They pay attention to my calls without hesitation"
-Age 18-36, New Jersey"They are responsible"
-Age 18-36, New Jersey"Good deals on what I needed"
-Age 18-36, New Jersey"It covers all my expectations"
-Age 18-36, New York"I have had a good experience with them"
-Age 18-36, Ohio"Good choice for life insurance"
-Age 18-36, Oklahoma"It's a good company"
-Age 18-36, Pennsylvania"They're nice, easy to talk. They are amazing and I recommended them to everyone."
-Age 18-36, Tennessee"There's nothing specific, but great overall experience with them."
-Age 18-36, Texas"They are the best"
-Age 18-36, Texas"Agents are very supportive"
-Age 37-52, Arizona"Best trusted insurance company"
-Age 37-52, Arizona"The company website are easy to use and helpful."
-Age 37-52, Arizona"Good company and I like their products"
-Age 37-52, California"Policies are easy to understand and also gives quick results"
-Age 37-52, Colorado"Totally fulfill the needs of customer "
-Age 37-52, Connecticut"They offer the most competitive products"
-Age 37-52, Delaware"They are quick to resolve any situations."
-Age 37-52, District of Columbia"They work smartly to fulfill all needs of customers."
-Age 37-52, Florida"It has a good reputation"
-Age 37-52, Georgia"They advised very correctly and did not feel they are pushing the sale."
-Age 37-52, Georgia"Apps are easy to use and helpful."
-Age 37-52, Idaho"My sister in-law advised me to take some insurance from this provider."
-Age 37-52, Idaho"I like most because their service is nice."
-Age 37-52, Illinois"Positive attitude"
-Age 37-52, Indiana"Great company"
-Age 37-52, Kentucky"They are a great company"
-Age 37-52, Kentucky"My policy from this company has excellent features."
-Age 37-52, Massachusetts"It's a good company and policy."
-Age 37-52, Missouri"Good company"
-Age 37-52, New York"It has excellent customer service."
-Age 37-52, New York"Proper information passed on phone. Quick response on queries."
-Age 37-52, New York"Cheap rates"
-Age 37-52, Ohio"Easy to deal with"
-Age 37-52, Ohio"Fair pricing"
-Age 37-52, Ohio"Handles problems well"
-Age 37-52, Oregon"Lower rates, good coverage, easy to work with"
-Age 37-52, Pennsylvania"Always has been friendly and helpful when I called with a question or problem"
-Age 37-52, South Carolina"Very reasonable and easy to deal with"
-Age 37-52, South Carolina"Good, I like this company"
-Age 37-52, South Dakota"Good company and people to talk to"
-Age 37-52, Tennessee"I like the personalized attention"
-Age 37-52, Virginia"Set up was easy."
-Age 53+, Arizona"My insurer is best in the world, always meet whenever I need the help."
-Age 53+, Arkansas"Medical insurance policies help its policy buyers in managing their fitness and bearing the expenses incurred for fitness."
-Age 53+, California"Makes you feel like family"
-Age 53+, Georgia"The insurance company offered me a policy I could afford and the payment is automaticaly deducted from my checking account so I never have to worry about missing a payment."
-Age 53+, New Jersey"They are very considerate of my needs and budget"
-Age 53+, North Carolina"I'm very satisfied with the company and my agent is very helpful and takes what I have to say seriously."
-Age 53+, Ohio"They offer great coverage at good rates."
-Age 53+, Ohio"Ggood customer service"
-Age 53+, South Carolina