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I had been meaning to obtain life insurance for my wife and I for quite some time. Did some research and for our particular needs/situation AIG was suitable. They even sent someone to our home to conduct the medical portion; which was a few questions and a blood draw. See no real reason to change.
They are very helpful and do most of the hard work. They are a good hardworking company and listen to what you want and need. They don't try to talk you into stuff you don't want or need.
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Thank God I haven't had to file a claim! Compares to New York Life and Mutual of Omaha for companies that offer no physical policies. Got it for buried insurance. There is a two year waiting period to fully cash in.
I bought this policy in 1991 for $300,000 paid $100 a month..It is what the agent said...As time went on I had to increase it to $2000 then $300 a month...It was a universal policy....Now at age 70 it would have taken a $1000 a month to keep it in effect...The gove has banned this type of policy...I eventually was able to sell it to a broker...But it was a terrible experience. The agent lied right to my face about it....It was an AIG product....Don't be fooled....Life insurance agents are not to be trusted.
I got the policy when I was 19 or 20, got worse service for the last year I had it. Insurance man ALWAYS came to house til the last one. Spent 4 months trying to catch him or meet him at various spots and decided to cancel, was told had to meet in Chattanooga to verify name change so I did that, then asked to cancel, signed documents and left. Started getting bills, in mail over a year later. I called and was told policy was never cancelled, they still have wrong name on file so asked, Chattanooga office closed less than a week after my visits mailed another form. 6 months later got another bill, was told I didnt notarize it? Was due cash but guess that's how they keep it. Not paying another nickel and was a very incompetent person who was in charge of my policy, would never do business with them again. Over 18 years of pmts gone....
Purchased a travel insurance policy through their subsidiary TravelGuard. When we cancelled the trip due to illness, they stonewalled our claim for 4 months, refused to update us (I made 10 calls to confused representatives who gave false information) then settled the claim for 25% of the trip value. Do not use AIG or TravelGuard.
I had the life insurance after my late husband passed away. The cost was very little but about a year ago, I found out the amount had decreased to $500.00. I wasn't aware that the amount would be decreasing as I aged.
I purchase 2 policies in 1987. They keep getting the payment amounts wrong and the due dates. They cancelled one of my policies returning no money. They are still getting the payment amounts wrong and due dates. What a scam!
I filed a claim on April 10th and have waited nearly three months for a response. While I realize that a global pandemic slows business I feel this timeframe is completely unacceptable and purposely delayed. Today I finally received an email back explaining that my claim was denied as it did not fall under their listed reasons. I was directed to view an attachment that was not there and when I emailed the adjuster back I received an outdated out of office reply stating the adjuster wouldn't be back in the office until July 6th (yesterday). I would like to see an explanation on how a global pandemic is not one of the listed reasons for filing a claim. It seems like AIG is just like any other insurance company and not interested in paying out when it's time for them to. I will be posting this message on numerous social media sites and filing a claim with the BBB and Consumer Affairs.
Stay far away. Over the years that I've had these policies (one for me, one for my husband), I have an extraordinary amount of trouble with them. They lose payments, misfile payments, and make it extremely hard to pay or access information online. They're constantly cancelling policies due to their mistakes, and it can take months of pointless phone calls to straighten out (when they make a mistake, the burden of proof is on the consumer).
If you call to find out when the next payment is due (easy to lose track of a quarterly payment), the recording skips the next date and gives you one far in the future, causing a missed payment (actually, I've experienced many, many ways they try to trip up the consumer. The end result would be the consumer losing coverage and having to buy a new policy at a MUCH higher rate…. They can make millions doing this. The latest? Although it's been mandated by law that insurance companies must give consumers a 90 day grace period, they just canceled my policy (again!) in spite of my being within that limit. My next note will be to the attorney general of my state.
AIG Life Insurance Company Information
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- (800) 445-7862
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