Choice Mutual Rating

Choice Mutual’s ratings are determined by our editorial team. The scoring formula considers consumer experience, policy cost, underwriting criteria, the insurer’s financial strength ratings, and complaint data.

AIG’s final expense insurance for seniors is a well-priced, guaranteed acceptance life insurance policy.

You cannot be denied because of pre-existing conditions.

Learn how their coverage works, the cost, and essential policy provisions.


How Does AIG Guaranteed Issue Final Expense Insurance Work?

AIG final expense insurance is a guaranteed issue life insurance policy.

There are no medical exams or health questions to answer.

Your approval is guaranteed.

Because approval is guaranteed, there is a two-year waiting period.

If you die in the first 24 months, AIG will only refund 110% of your premiums.

Accidental death is the only exception to the waiting period. If you die from an accident in the first two years, AIG will pay out the entire death benefit.

After the policy has been in force for more than two years, then the full face amount is payable.

Assuming you live for more than two years, AIG will pay out the death benefit as a tax-free cash payment.

You choose whether the money is paid to your loved ones or a funeral home.

If the funds are paid to your family, they can spend the money on anything. That includes cremation costs, burial costs, or any other end-of-life expenses.

Additionally, leftover money is theirs to keep.

At no extra cost, AIG includes two “living benefit” riders.

Please note that the benefits provided by these riders only apply after the two-year waiting period has passed

  • Chronic Illness: Will refund all premiums if the insured cannot perform two out of the six activities of daily living (bathing, dressing, eating, dressing, toileting, transferring) or is diagnosed with a severe cognitive impairment such as dementia or Alzheimers’s.
  • Terminal Illness: Allows the insured to access up to 50% of the death benefit if diagnosed with a terminal illness and given a life expectancy of two years or less.


AIG Guaranteed Issue Insurance Details
Policy TypeWhole Life Insurance
Policy DurationLifetime
Fixed PremiumsYes
Builds Cash ValueYes
State AvailabilityAll States (Except ME & NY)
New Applicant Age Range50-80
Coverage Options$5,000-$25,000
Free Built In RidersTerminal Illness & Chronic Illness
Optional RidersNone
Where to ApplyAgencies licensed to sell AIG products or via AIG Direct.
Phone Number to Apply1-800-644-2926
Health QuestionsNo
Medical Exam RequiredNo
Guaranteed AcceptanceYes
2-Year Waiting PeriodYes
Application Approval Time2-5 Minutes
BrochureAIG Brochure
Sample ApplicationAIG Application
Sample PolicyAIG Sample Policy


Cost Of AIG Guaranteed Acceptance Burial Insurance

Ordinarily, the cost of burial insurance is a function of your age, gender, and health.

But since AIG’s burial insurance is guaranteed acceptance, your health does not affect the price.

Only your age, gender, and how much coverage you buy determine the exact rate.

Below are some sample monthly premiums.


50F: $20.29
M: $28.99
F: $38.58
M: $55.99
F: $56.87
M: $82.98
F: $79.78
M: $109.97
55F: $24.30
M: $31.69
F: $46.40
M: $61.37
F: $68.89
M: $91.06
F: $102.93
M: $135.19
60F: $27.97
M: $35.07
F: $53.93
M: $68.14
F: $79.90
M: $101.21
F: $118.96
M: $149.25
65F: $34.21
M: $46.42
F: $66.42
M: $90.83
F: $98.63
M: $135.25
F: $146.23
M: $199.48
70F: $41.21
M: $54.00
F: $80.41
M: $106.00
F: $119.62
M: $158.00
F: $176.74
M: $232.60
75F: $58.86
M: $75.83
F: $115.73
M: $149.66
F: $172.59
M: $223.49
F: $253.80
M: $327.83
80F: $95.77
M: $104.16
F: $189.53
M: $206.32
F: $283.30
M: $308.48
F: $410.63
M: $415.67


AIG Guaranteed Issue Life Insurance Pros & Cons

The Good
  • No medical exam or health questions
  • Guaranteed approval
  • Competitive prices for most ages
  • Available in nearly all states
  • Can be bought entirely online or via a licensed agent
  • Living benefit riders for terminal illness or chronic illnesses included at no extra cost
  • Allows people with uninsurable conditions such as dementia or renal failure to get coverage
The Bad
  • There’s a waiting period even for healthy applicants
  • Low coverage maximum compared to other providers
  • Other final expense companies offer lower prices
  • No options above age 80


Does AIG Have The Best Funeral Life Insurance?

For starters, most people who need a burial insurance policy don’t need to buy guaranteed acceptance coverage.

That’s because most seniors can qualify for a policy with health questions.

Going that route leads to lower premiums and burial coverage with no waiting period.

If you have extremely dire health issues and need guaranteed coverage, then AIG is a great choice.

They made our list of the best funeral insurance companies.

Full disclosure, companies like AAAUSAA, and Mutual of Omaha offer less expensive guaranteed acceptance final expense insurance.

However, the free riders that AIG includes are no extra cost are very valuable and usually worth the additional premium.

Ultimately, no single life insurance company can be the best option for everyone.

Insurance companies all have different products, terms and conditions, and costs.

Furthermore, everyone’s circumstances are unique, so you must compare multiple providers to find the best policy.

Working with an independent broker agency like Choice MutualOpenCare, or National Family is very beneficial.

Independent agencies can compare multiple insurance companies on your behalf to match you with whichever is best.

Companies like Lincoln Heritage Funeral Advantage or Globe Life Insurance won’t offer you an alternative if their policy isn’t favorable.

The table below outlines many typical health issues where AIG would be a great choice.


Common conditions where AIG is a great choice

Congestive heart failure
Cancer within last 12 months
Oxygen usage
Wheelchair usage


Who Is AIG Life Insurance Company?

AIG started in 1919 and currently has an A (Excellent) rating with A.M. Best.

They offer different life and retirement insurance products nationwide. They also have operations in more than 70 countries and jurisdictions.

Below is their contact info:

  • Website:
  • Phone: 1-800-888-2452


The Bottom Line

3.0/5 rating
AIG earned 3.0 stars out of 5 for overall performance. Choice Mutual’s ratings are determined by our editorial team. The scoring formula considers consumer experience, complaint data from the National Association of Insurance Commissioners, and financial strength ratings.

Learn about our rating methodology.

Policy rates relative to other carriers
Financial Strength
Credit ratings from A.M. Best
Customer Reviews
Consumer feedback from third-party websites like Facebook, Yelp, and Trustpilot
NAIC Complaint Ratio
Up-to-date complaint score from the National Association of Insurance Commissioners
Advertising Practices
Accuracy and trustworthiness of marketing
Available Products
Number of policy types, including no-exam options

Choice Mutual often cites third-party websites to provide context and verification for specific claims made in our work. We only link to authoritative websites that provide accurate information. You can learn more about our editorial standards, which guide our mission of delivering factual and impartial content.

  1. 1919.
  2. A (Excellent) rating.