AIG Whole Life Insurance has officially become Corebridge Direct, but what does that mean for your life insurance coverage? We’ve found everything you need to know about AIG Guaranteed Issue Whole Life Insurance including prices, free rider benefits, and more.
If you aren’t sure if AIG Whole Life Insurance is right for you, call one of our agents at (866) 786-0725 or use our free quoting tool to find insurance that works for you.
Want to know more about whole life insurance? We’ve got the skinny on everything you need to know so you choose the right plan for you and your family.
History of AIG & Corebridge Financial
What is AIG Guaranteed Issue Whole Life Insurance?
Guaranteed Issue Final Expense Insurance is a Whole Life Insurance with no medical exams or health questions. No matter what, health status is not a factor in your price — only gender, age, and how much coverage you’d like will affect the cost.
However, because AIG Direct is guaranteed, there is a two-year waiting period before you can claim the full benefits. That means if you expire before the end of the two years, AIG will only refund 110% of the premium costs instead of the full amount.
The only exception is if your death is an accident and not the fault of the policy owner. AIG will pay the full face value of the policy if this occurs.
Unfortunately, this plan is not available in ME or NY, so you’ll have to explore different final expense insurance options.
Is a Two-Year Waiting Period Right For You?
Unfortunately, if you do not qualify for traditional life insurance due to a pre-existing condition or if you’re unable to pass a medical exam, you should consider guaranteed issue whole life insurance.
If you’re unsure about a two-year waiting period or think that you can only qualify for guaranteed issue whole life insurance, there are options for burial insurance with no waiting period available to you and your family. Contact one of our agents at (866) 786-0725 for a comprehensive list of burial insurances that work for you.
What’s Different About AIG GIWL Compared to Other Guaranteed Issue Whole Life Insurance?
The main difference between AIG Guaranteed Issue Whole Life Insurances and other policies is the free Living Benefit Riders that come with the policy purchase. A Living Benefit Rider guarantees payment of the policy while the insurant is alive depending on the circumstances. This money can be used for hospital bills, paying off debts, or covering any other expenses.
Generally, the price of Living Benefit Riders will depend on the policy cost or will charge you for access to this benefit, but with AIG GIWL, you’ll have access to them if you have a chronic or terminal illness.
What Living Rider Benefits Does AIG GIWL Offer?
With the AIG Guaranteed Issue Whole Life Insurance, you’ll gain access to the Living Benefit Riders if you have signs of a chronic illness or terminal illness. Here’s how much you’ll get for each and how to determine if you have a chronic or terminal illness:
Chronic Illness
- Bathing
- Continence
- Dressing
- Eating
- Toileting
- Transferring
Terminal Illness
A terminal illness is a condition that cannot be cured and will likely end in the person’s death. If an insurant has received a terminal illness diagnosis and has a life expectancy of fewer than two years, Corebridge will allow the insurant to access 50% of the death benefit.
How Much Does AIG Guaranteed Issue Whole Life Insurance Cost?
The AIG Guaranteed Issue Whole Life Insurance price will depend on your age, gender, and how much you’d like to purchase. This insurance is only available to those who are 50 to 80 years old, and rates will range from $5,000 to $25,000. Here’s what you can expect to bay based on the NFDA:
| Sex | Age | $5,000 | $10,000 | $15,000 | $20,000 | $25,000 |
|---|---|---|---|---|---|
|
Male | 50 |
$18.32 |
$33.43 |
$48.54 |
$63.65 |
$78.77 |
|
Male | 60 |
$25.51 |
$47.82 |
$70.13 |
$92.44 |
$114.74 |
|
Male | 70 |
$42.48 |
$81.75 |
$121.02 |
$160.29 |
$199.56 |
|
Male | 80 |
$78.29 |
$153.38 |
$228.47 |
$303.56 |
$378.65 |
|
Female | 50 |
$14.81 |
$26.42 |
$38.02 |
$49.63 |
$61.23 |
|
Female | 60 |
$19.52 |
$35.83 |
$52.15 |
$68.46 |
$84.77 |
|
Female | 70 |
$30.72 |
$58.24 |
$85.76 |
$113.28 |
$140.80 |
|
Female | 80 |
$55.58 |
$107.96 |
$160.33 |
$212.71 |
$265.09 |
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AIG Guaranteed Issue Whole Life Insurance Pros And Cons
Pros
- Guaranteed issue whole life insurance means you’ll always get approved with no medical exam or health questions.
- Living benefit riders are included in your policy at no additional cost.
- Available in all states except Maine and New York.
Cons
- There are less expensive whole life insurance plans, such as Mutual of Omaha.
- Options are only available to those who are 50 to 80 years old.
- There is a two-year waiting period for the full death benefit.
- Could be confusing to find because of the name change.
How Good is AIG Life Insurance?
- Alzheimer’s
- Requires assistance with activities associated with daily living
- Diabetic-related amputation within the past two years
- Diabetic coma or insulin shock within the past two years
- Had surgery on the heart or circulatory system within the past year
- ALS
- Congestive Heart Failure
- Cancer in the Past 12 Months
- Dementia
- Dialysis
- Heart disease
- Bone Marrow Transplant
- Organ Transplant
- Congestive Heart Failure
- Stroke (within the past 12 months)
- HIV/AIDS
- Oxygen Usage
- Wheelchair Usage
What Are Some of the Best $10,000 Final Expense Insurance Companies?
| Company | 50 y/o Male | 50 y/o Female | 60 y/o Male | 60 y/o Female | 70 y/o Male | 70 y/o Female |
|---|---|---|---|---|---|---|
|
$34 |
$27 |
$51 |
$40 |
$73 |
$58 |
|
|
$39 |
$34 |
$52 |
$41 |
$86 |
$65 |
|
|
$30 |
$24 |
$43 |
$32 |
$74 |
$53 |
|
|
$36 |
$30 |
$47 |
$37 |
$81 |
$60 |
|
|
$55 |
$38 |
$68 |
$53 |
$106 |
$80 |
Conclusion
Overall, AIG Guaranteed Issue Whole Life Insurance is a great option for those who are currently going through any of the health issues stated above. However, there are cheaper options, such as Mutual of Omaha, depending on your situation. At Final Expense Benefits, we only work with highly-rated carriers to guarantee customer satisfaction. Here are just a few companies we work with:
Still trying to find the final expense life insurance that works in your budget? Give one of our knowledgeable agents a call at (866) 786-0725 or use our free quoting tool to find the best final expense insurance for you and your family.
Frequently Asked Questions
How Do I Cancel AIG Life Insurance?
You can cancel your AIG Life Insurance by calling their customer service number, (800) 888-2452, and providing your policy number.
Is AIG Now Corebridge?
As of 2024, AIG Direct has been rebranded to Corebridge Direct.
Who Should Get AIG Life Insurance?
Can I Borrow From My AIG Life Insurance Policy?
AIG Life Insurance has a Living Benefit Rider add-on that you can utilize if you have a chronic or terminal illness.
What Can You Get With The Living Benefit Rider For AIG Guaranteed Issue Whole Life Insurance?
You’ll be able to spend your Living Benefit Rider premium on hospital bills, debts, or any other expenses that might come up.