AIG Burial Insurance Review

When considering burial insurance, AIG often emerges as a top choice for its reliability and straightforward options.

As one of the most recognized names in the industry, AIG Burial Insurance is designed to ease the financial burden of funeral costs, providing your loved ones with lasting peace of mind.

Let’s break down everything you need to know about AIG, their policies, and why they might be the right fit for you.

What Is AIG Burial Insurance?

AIG Burial Insurance, also known as AIG Guaranteed Issue Whole Life Insurance, is specifically designed to cover burial costs, cremation, and other final expenses.

Unlike traditional life insurance products, AIG guaranteed issue policies require no medical exam or health questions, making them an excellent choice for people with pre-existing health conditions or those seeking easy approval.

Key Features of AIG Burial Insurance

1. Guaranteed Issue Whole Life Insurance
   • Eligibility: Open to applicants aged 50 to 80.
   • Guaranteed Acceptance: Approval without the need for underwriting, regardless of health status.
2. Coverage and Face Amounts
   • Policy face amounts range from $5,000 to $25,000, perfect for covering funeral costs, outstanding debts, or burial costs.
3. Living Benefits
   • Chronic Illness and Terminal Illness riders are included at no extra cost, allowing policyholders to access part of the death benefit early if diagnosed.
4. Permanent Life Insurance
   • This is a whole life insurance policy, meaning your coverage lasts a lifetime as long as premiums are paid.
5. Waiting Period
   • There is a two-year waiting period before the full death benefit is payable. During this time, beneficiaries receive a refund of paid premiums plus interest if death occurs due to natural causes.
6. Accidental Death Coverage
   • The full death benefit is immediately payable for deaths caused by accidents, even during the waiting period.

Why Choose AIG Burial Insurance?

AIG has earned its reputation for offering dependable policies through its subsidiary, the American General Life Insurance Company.

Here are a few reasons why AIG Burial Insurance stands out:

1. No Medical Exam

Approval is simple—there’s no need for a medical exam or extensive health checks. This is ideal for those with conditions like Alzheimer’s or for anyone seeking quick approval.

2. Guaranteed Issue Life Insurance

Policies like AIG Guaranteed Issue ensure approval, making them a reliable choice for individuals who might face challenges qualifying for other life insurance products.

3. Affordable Premiums

While premiums for guaranteed issue life insurance are higher than policies requiring underwriting, AIG offers competitive rates for its class. Your premiums will never increase over time.

4. Living Benefits

AIG’s policies come with valuable living benefits, such as access to a portion of the death benefit if diagnosed with a chronic illness or terminal condition. This adds flexibility and financial security for policyholders.

Pros and Cons of AIG Burial Insurance

Pros

• Guaranteed acceptance with no health questions.
• Policies are permanent, ensuring lifetime coverage.
• Includes living benefits at no extra charge.
• Refund of premiums during the two-year waiting period.

Cons

• The waiting period means full coverage isn’t available immediately for natural deaths.
• Coverage amounts are limited to $25,000, which may not be enough for larger expenses.
• Premiums can be higher than policies requiring health assessments.

Who Should Consider AIG Burial Insurance?

AIG Burial Insurance is an excellent option for those who:

• Have pre-existing health conditions and cannot qualify for traditional policies.
• Want to avoid the hassle of a medical exam or answering extensive health questions.
• Need a straightforward burial insurance policy to cover funeral costs and final expenses.

Is AIG the Right Life Insurance Company for You?

As a life insurance company, AIG offers a strong balance of reliability and accessibility. Whether you need guaranteed issue whole life insurance for ease of approval or appreciate the added living benefits and peace of mind, AIG is a trustworthy choice for many.

However, if you’re healthy enough to qualify for a policy with fewer restrictions, you might find lower premiums with other providers. Still, AIG remains one of the best options for those seeking guaranteed acceptance policies.

Get Insurance Quotes for AIG Burial Insurance

If you’re considering AIG for your burial insurance policy, we can help you compare insurance quotes and explore options tailored to your needs. Call a licensed agent today to learn more about AIG Burial Insurance and how it can provide lasting support for your loved ones.

Let us help you find the best life insurance coverage so you can plan ahead and protect your family from the financial burden of end-of-life expenses. Reach out today and experience the confidence that comes with having the right coverage.

Other Burial Insurance Company Reviews

We will continue to review other burial insurance companies.

1. Colonial Penn
2. Gerber
3. Mutual of Omaha (Coming soon)
4. American Amicable (Coming soon)