About AIG

AIG – American International Group, Inc – is a global finance and insurance company serving customers in over 80 countries, with roots tracing back to 1919. AIG Life Limited is the company’s UK life insurance arm, which focuses on making insurance as easy and accessible as possible for those with a protection need in the UK.


AIG life insurance policy features

If you buy life insurance through AIG, your policy is likely to come with the following features:

Guaranteed premiums The amount you pay every month in life insurance premiums is guaranteed to stay the same for as long as you hold the policy.
Guaranteed insurability This means you’d have the opportunity to increase your life insurance cover after certain life changes. In an AIG policy, this includes getting married or entering a civil partnership; becoming a parent; and taking out a new mortgage or increasing your mortgage.
Payment delay This benefit means you’ll be able to delay the payment of your monthly premiums beyond your usual pay date – giving you a little extra flexibility if you need it.
Reinstatement If you accidentally miss a monthly insurance payment and your life insurance policy gets cancelled, you can reinstate it without having to apply again – as long as you do so within a set period of time. This is a good thing because it means you won’t have to go through medical underwriting again (which could lead to your policy being more expensive).
Terminal illness benefit If you fall terminally ill while you hold an AIG life insurance policy – in other words, a doctor has said you have 12 months or less to live – you can claim the lump sum early, on diagnosis.
Waiver of premium Most life insurance policies come with this handy add-on that means you won't be required to pay your monthly premiums if you're off work for medical reasons. You usually need to be off for a certain amount of time before you can claim this benefit.

AIG life insurance extra policy benefits

AIG life insurance policies also come with a number of extra benefits, outlined below. These features are ‘non-contractual’, meaning they’re not related to the contractual conditions of your own policy, and are often provided by a third party. Everyone is eligible for them – though they’re usually only made available if you buy your AIG policy through an adviser.

Best Doctors® This service entitles you and your family to a second medical opinion from a specialist if you receive a diagnosis.
Smart Health A healthcare service that gives AIG customers access to 24/7 virtual GP appointments; the Best Doctors® service described above; mental health support; online health checks; nutritionist consultations; and an online fitness programme.
Winston’s Wish A child bereavement service that supports children who’ve lost a parent or sibling, including a free national helpline, face-to-face support, and online resources.

AIG life insurance prices

The following prices are based on:

  • Healthy 25-year old male or female
  • £150,000 of level life insurance cover
Term Non-smoker Smoker
10 years £5.60 £7.30
20 years £5.80 £7.70
30 years £6.30 £9.20
  • Healthy 25-year old male or female
  • £250,000 of level life insurance cover
Term Non-smoker Smoker
10 years £7.10 £9.50
20 years £11.40 £20.30
30 years £14 £27.40
  • Healthy 35-year old male or female
  • £150,000 of level life insurance cover
Term Non-smoker Smoker
10 years £7.30 £11.50
20 years £7.90 £13.90
30 years £9.90 £19.80
  • Healthy 35-year old male or female
  • £250,000 of level life insurance cover
Term Non-smoker Smoker
10 years £10.10 £16.70
20 years £11.40 £20.30
30 years £14 £27.40

Quoted on 14/02/20


It’s important to make an informed decision when buying life insurance – which is where Anorak can help. We scan all the major insurers to match you to the products most suitable for you, based on your unique needs. We give you peace of mind about who to go with (especially if your most suitable policy is from an insurer you’ve not used before).
What is life insurance?
An insurance policy that pays out a tax-free lump sum to your partner or family if you die. It’s designed to make sure your loved ones would be financially secure without you and your income.
Who needs life insurance?
Anyone who has financial dependents. In other words: other people who rely on your income. If you have a partner or children who’d be financially affected by you dying, you should consider having some life insurance in place.
How much does life insurance cost?
Life insurance is often very affordable, but the cost will be different per person. This is because it depends on the cover you buy and how much of a risk you are to insure (based on your age, health and lifestyle). Generally speaking, it's cheapest when you’re young, fit and healthy.
Does life insurance always pay out?
Life insurance will pay out if you die while you’re insured and you were honest about your health when you applied. It won’t pay out if you die after your policy runs out or you cancel it – and might not if you meet an exclusion (e.g. many insurers exclude death by suicide within the first year).
Is it easy to claim?
Claiming on a life insurance policy is straightforward – your partner or family simply claim directly with your insurance company. Making sure they know about your policy and have the details in case the worst happens can be helpful.

This review is intended for informative purposes only and does not constitute advice.