AIG life insurance 2024

AIG is a leading insurance company that offers a range of protection products to customers in the UK, Channel Islands, Isle of Man and Gibraltar.

When considering life insurance for your family, it’s worth exploring the options available from AIG to help you make a fully informed choice.

AIG logo

Types of policies include:

  • Term life insurance
  • Family income benefit
  • Whole of life insurance

It’s not possible to get life insurance from AIG directly, but you can get quotes and apply for cover through an FCA-regulated broker (such as Reassured).

We compare AIG life insurance quotes against other leading providers to help you find an affordable deal. Just click below to get started, (it’s FREE!)

Please note, AIG Life Limited is now called Corebridge Financial and will be acquired by Aviva in 2024, however we will continue to refer to them as AIG in this review.

AIG review quick summary

  • AIG life insurance is rated 4 and 5 stars (out of 5 stars) by Defaqto
  • Policies come with a range of additional benefits and features, including free 24/7 access to Smart Health expert services
  • In 2022, 95% of all AIG protection claims were paid (totalling £368 million)[1]
  • AIG Life Limited will become part of Aviva in 2024 (subject to regulatory approval), but this merge shouldn’t affect new or existing customers[2]
  • AIG term life insurance, critical illness cover (with life insurance) and whole of life insurance policies are available through Reassured. Quotes start from just £5-a-month

About AIG Life Limited

AIG Life Limited is the UK life insurance arm of Corebridge Financial and was formerly part of the American International Group (AIG).

The company was formed in 2014 following AIG’s acquisition of Ageas Protect and has 1.3 million individual protection customers[2].

In September 2023, Aviva announced that it will be purchasing AIG Life Limited from Corebridge Financial in 2024 (subject to regulatory approval).

Both AIG Life Limited and Aviva are regulated by the Financial Conduct Authority (FCA).

AIG life insurance reviews & ratings


AIG life insurance reviews on Trustpilot are varied, with the insurer receiving 3 stars (out of 5 stars) based on 154 customer reviews (as of 22/03/24).

While there are some negative reviews on Trustpilot, it’s important to bear in mind that this is a small sample of individual experiences and won’t provide an accurate representation of AIG’s products and services, especially as the insurer has more than 1 million protection customers in the UK.

Therefore, it’s important to also check other sources when looking for AIG life insurance reviews. To make things easier for you, we have compiled some expert ratings below.


Defaqto is an independent ratings platform that provides impartial ratings for financial products and services to help consumers make more informed decisions.

Ratings for AIG’s main policy types are in the table below:

Policy typeStar rating (out of 5)
Whole of life insurance Defaqto 5 stars
Level term life insurance Defaqto 4 stars
Decreasing term life insurance Defaqto 4 stars
Critical illness cover Defaqto 5 stars

Fairer Finance

Fairer Finance is an expert rating service that ranks life insurance providers based on the following factors:

  • Percentage of claims paid in recent years
  • How good the insurer is at handling complaints
  • How clear the insurer is with customers

In 2024, Fairer Finance ranked AIG Life 13th out of 24 insurers. The table below shows how the insurer scored:

Claims scoreComplaints performanceTransparency ratingOverall customer experience rating

Reassured is rated ‘Excellent’ on Trustpilot from more than 75,000 customer reviews and we can provide quotes from some of the highest rated insurers in the UK.

Does AIG life insurance pay out?

Yes, AIG life insurance does pay out if you pass away during the policy term.

In fact, AIG paid out 95% of all protection claims in 2022 totalling over £368 million (that’s £60,300 on average per policyholder).

AIG Life UK pay out rates in 2022:

  • Life insurance - 99%
  • Terminal illness cover - 96%
  • Critical illness cover - 97%
  • Income protection - 90%

The most common reasons for AIG life insurance claims in 2022 were:

AIG life insurance policy options

AIG offer a range of life insurance options that protect your family in the event you pass away or become terminally ill during the policy term.

These include:

  • Level term life insurance. Sum assured (pay out amount) remains fixed throughout the term (can help to protect an interest-only mortgage)
  • Increasing term life insurance. Pay out amount increases by 5% each year to help protect against the effects of inflation
  • Decreasing term life insurance. Pay out amount reduces throughout the term (in line with debts that you’re paying off, such as a repayment mortgage)
  • Family income benefit. Like term life insurance, but pays out in monthly payments from when you pass away until the end of the term
  • Instant life insurance. Provides a quicker way to secure cover. There’s a shorter application form and you’ll know straight away if you’re accepted

They also offer other types of cover, including:

AIG life insurance key details:

Policy typeMinimum Age to applyMaximum Age to applyTerm length (years)Terminal illness cover included?Joint cover option?
Level term1786Between 2 - 70 Icon green tick Icon green tick
Increasing term1786Between 2 - 70 Icon green tick Icon green tick
Decreasing term1786Between 3 - 70 Icon green tick Icon green tick
Family income benefit1786Between 3 - 70 Icon green tick Icon green tick
Instant life insurance1759Between 3 - 40 Icon green tick Icon green tick
Critical illness cover (with life cover)1775Between 3 - 50 Icon green tick Icon green tick
Over 50s plan5085Until you pass away Icon ruby cross Icon ruby cross

Please note: You must be over the age of 18 to purchase life insurance through Reassured

We explain each of the AIG life insurance policies in more detail below.

AIG life insurance calculator

How much life insurance do you need? Simply fill in the costs you’d like your policy to cover to calculate how much cover you may require.


£137,934 is the estimated mortgage debt per household in the UK.

The purchase of a home is likely to be the largest financial commitment any of us will make in our lifetime. Your life insurance should cover your remaining mortgage balance to allow your loved ones to stay in the family home should anything happen to you.



The average monthly household budget in the UK is £2,548 (that’s £30,576 per year), which is spent on transport, food & drink, utilities (gas, electricity, water etc), clothing, council tax and leisure activities.

With energy prices hitting a record high and the cost of living rising sharply in the UK, you may wish to factor in utility bills and family living expenses into your cover.



The average personal debt of UK adults has risen to £34,566 (not including mortgage debt), with credit cards, personal loans and overdrafts being the most common forms of debt.

Factoring in any debts into your life insurance cover means that, if they need to be paid back from your estate after your passing, your loved ones won’t miss out financially.



According to SunLife, the average cost of a funeral in the UK is £3,953 (with the overall cost of dying at £9,200).

Funeral costs have increased by 116% since 2004 and are a significant cost which should be factored into the amount of life insurance you secure.



When factoring in cover for your children, you may wish to calculate the amount based on how long it is until they reach financial independence.

This could include childcare (£7,000 per year for part-time care), school expenses (£1,519 per school year for uniforms, lunches, stationary etc), as well as an additional sum for further education (this could be a contribution of up to £5,000 per year).

Sources:, &


2 in 5 adults say they are relying on an inheritance to fund their retirement.

Factoring in an inheritance to your sum assured could allow loved ones to live a more financially comfortable life. Alternatively, you could leave a cash gift to a charity of your choosing.



If you’re lucky enough to have your own savings or are part of the 30% of UK residents who already have a life insurance policy in place, this can provide financial protection for loved ones.

By entering your current cover, savings or death in service amount you can reduce the sum assured you require.


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Level term life insurance

Level term life insurance is cover that pays out a fixed lump sum to your loved ones if you pass away or become terminally ill during the set term.

The sum assured remains the same (level) throughout the policy term.

Level term can help to cover:

  • An interest-only mortgage (where the capital borrowed doesn't reduce)
  • Outstanding debts
  • Family living costs
  • Funeral costs
  • An inheritance

Reassured can help you arrange level term life insurance from just 20p-a-day. Get in touch for your free quotes.

Increasing term life insurance

Increasing term life insurance can help to protect the value of your policy against the effects of inflation.

The sum assured increases by 5% each year after the first year of the policy.

This ensures that, if the worst happened, your loved ones would receive the full value of your pay out to cover increased expenses in the future.

Monthly premiums will also increase each year to pay for the additional cover.

It’s possible to reject an increase in your premiums (up to three occasions), but this means your sum assured will also not increase for that year.

Increasing term life insurance isn’t available through Reassured.

Decreasing term life insurance

Decreasing term life insurance provides a sum assured that reduces each month until it reaches zero at the end of the term.

It’s designed to help cover debts that you’re paying off, such as a repayment mortgage, if you were to pass away or become terminally ill.

With AIG, you can choose the interest rate at which your sum assured is decreased, from 5% to 15%.

The cost of your monthly premiums will remain fixed throughout the policy, but this tends to be the cheapest type of cover as the risk to the insurer reduces over time.

AIG doesn't offer decreasing term for second event policies (joint life insurance, see below) or on policies with a two-year term.

Decreasing term life insurance starts from just 20p-a-day through Reassured ¥ .

Family Income Benefit (FIB)

Instead of paying out a fixed lump sum like other policies, family income benefit pays out a fixed, tax-free monthly income to loved ones if you pass away during the policy term.

Family income benefit may be suitable if you have dependants who rely on your income and who’ll need to budget for mortgage repayments and living costs.

With AIG, the policy term can be from 3 - 70 years and you can select a level or decreasing sum assured (pay out amount).

You must be aged 18 and over to secure AIG family income benefit through Reassured. Quotes start from just 20p-a-day ¤ .

AIG instant life insurance

Instant life insurance is essentially a quick way to obtain term life insurance.

It provides a shortened application process and you won’t need to provide any medical information. AIG will let you know straight away if you’re accepted for cover.

AIG instant life insurance offers a sum assured that is either level, decreasing (8% each year), or increasing (10% each year).

It’s possible to buy life insurance online from AIG or alternative insurers by using Reassured’s quick and simple buy online service.

Whole of life insurance

Whole of life insurance, also known as whole of life assurance, provides cover for the rest of your life, rather than for a set period of time.

It, therefore, guarantees a pay out to your loved ones when you pass away (not if).

You may wish to take out a whole of life policy to help cover:

  • An inheritance
  • Family living costs
  • Mortgage debt
  • Funeral costs

Whole of life through AIG is available to applicants aged 17 - 84 and can be taken out as single or joint life cover. You can also choose between level or increasing cover.

With level cover, the sum assured remains fixed throughout the policy.

And with increasing cover, the sum assured would increase annually in line with the Retail Prices Index (RPI), up to a maximum of 10%.

AIG whole of life insurance starts from just £8 a month through Reassured ± .

Please note: you must be aged 18 and over to secure life insurance through Reassured and the increasing cover option is not available through us.

AIG care cover with whole of life

AIG offer the option to add care cover to your whole of life policy for an extra cost.

With care cover you can make an early claim of 75% of the sum assured, up to £300,000, if you suffer an accident or illness and require life-long care.

If you have care cover and a claim is not made, 100% of the sum assured will be paid out on your passing.

If you choose to have care cover with whole of life insurance, the maximum sum assured is £400,000, with an additional £300,000 for care cover.

Only one of these sums will be paid out, whether you make a claim on death or a terminal illness, or for care cover.

Critical illness insurance (with life cover)

AIG critical illness cover (CIC) provides financial protection in the event you pass away or are diagnosed with a terminal or critical illness (specified in your policy).

You can choose from two different levels of cover:

  1. Core critical illness cover. Covers 45+ illnesses (including cancer, stroke and heart attack). Allows you to add cover for your children for an extra cost
  2. Enhanced critical cover. Includes cover for specified complications of pregnancy and 50+ illnesses. Allows you to add enhanced cover for your children for an extra cost

You can also choose either level term, decreasing term (reducing by 5% to 15% each year), or increasing term (5% each year) cover.

If you’re diagnosed with a critical illness while your policy is in place, AIG will pay out a lump sum which could be used to help towards:

  • Private medical treatment
  • Adaptations to your home
  • The loss of an income if unable to work

AIG offers two additional protection options (for an extra charge) to go with CIC:

  1. Total Permanent Disability - Cover for permanent disability, in which you would receive the full sum assured after 26 weeks
  2. Total Disability and Total Permanent Disability - Cover for non-permanent and permanent disability. A percentage of the sum assured will be paid out for non-permanent disability. Total Disability and Total Permanent Disability is available to policyholders under the age of 59 when they take out the policy

Life insurance with critical illness is available through Reassured from just 33p-a-day º .

Make the most of our award-winning service to find out more about this type of cover and compare quotes.

Over 50s plan

An over 50s plan, or over 50s life insurance, with AIG guarantees a pay out to your loved ones when you pass away (after the two year waiting period).

This type of policy is commonly used to help cover funeral costs, clear any outstanding debt and/or to leave an inheritance.

An AIG over 50s plan guarantees acceptance for UK applicants aged 50 - 85. Although, the maximum age for smokers is 81.

You'll not need to provide any medical information on the application, which can make it suitable for those who have pre-existing medical conditions.

An over 50s plan with AIG has the following benefits:

  • Protected benefit - This protects your policy if you have trouble keeping up with monthly payments. As long as you have paid half of your premiums due between starting your plan and your 90th birthday, your loved ones will receive a pro-rata pay out, (this will not be the full sum assured, but a sum assured based on what has been paid towards your policy)
  • Accidental and early death cover - If you were to pass away from an accident in the first two years of the policy, AIG will pay out three times your lump sum. Or, if you were to pass away in the first two years of the policy by any other means, AIG will refund your premium payments and pay an extra 50% of the full amount on top. If you pass away after the two years, your full sum assured will be paid out
  • Available as increasing - An AIG over 50s plan can be taken out with an increasing sum assured. Cover will increase in line with Retail Prices Index (RPI), up to a maximum of 10% (and monthly premiums will increase)

AIG's over 50s plan will cover up to £15,000 and up to a total monthly premium of £50.

At Reassured, we can’t provide quotes for AIG over 50s life insurance, but we can provide quotes for alternative over 50s policies from other leading providers.

Quotes start from just £5-a-month + and it’s possible to secure up to £20,000 depending on your circumstances and budget.

Get in touch for your free quote comparison.

AIG life insurance benefits

Included in every policy:

PDG Funeral Pledge

It can take many months for funds to be released from your estate (due to probate) and without a funeral plan in place, your family may struggle with the initial expense of your passing.

As part of the Protection Distributors Group (PDG) Funeral Pledge, AIG will release £10,000 of your claim in advance to cover costs.

Claims support fund

This is a contribution of up to £300 for services you may need during a period of serious illness.

Terminal illness cover

AIG term and whole of life insurance comes with terminal illness cover as standard.

Terminal illness cover allows you to make an early claim on your life insurance if you’re diagnosed with an illness and expected to pass away within 12 months.

The pay out can be used in any way you wish to help make your last days more comfortable, such as hiring a home carer or paying for private medical care.

Additional benefits separate to your policy:

Smart Health

Smart Health is a 24/7 online health service in which you have access to free health checks, GP services, personalised fitness programmes, mental health support and more.

Winston’s Wish

Winston’s Wish is a charity that can provide specialist support to your children during a bereavement.

Best Doctors

You can access Best Doctors for a second medical opinion to ensure you get the right diagnosis and treatment.

Waiver of premium

All AIG policies, excluding instant life insurance, have the option to come with a waiver of premium feature at an additional cost.

If you lose your job or become ill during the policy and are unable to pay your premiums for a period of 26 weeks or more, a waiver of premium will cover your payments until you're able to return to work.

To use this benefit, you’d need to be aged 54 or under when the policy starts.

Remember, you won’t be able to arrange life insurance with AIG directly, only through a broker such as Reassured. You’ll have access to these benefits if you take out an AIG policy through us.

However, Smart Health, Best Doctors and Winston’s Wish benefits can be taken away at the discretion of AIG.

How much does AIG life insurance cost?

The cost of life insurance from AIG or any other insurer is determined by your personal circumstances and the terms of your policy.

Monthly premiums for term-based cover, whole of life and critical illness cover are calculated based on the following factors:

  • Your age
  • Health
  • Weight (BMI)
  • Smoking status
  • Occupation / hobbies
  • Family medical history
  • Policy type (level, decreasing, increasing, whole of life)
  • Policy term length
  • Sum assured (pay out amount)

In addition, if you choose to add on any extra features, such as waiver of premium, CIC, or care cover with whole of life, this will affect your premium cost.

The tables below show some example premium prices for AIG life insurance policies through Reassured, as well as how prices can compare to other policies available through us with different insurers.

Term life insurance

Quotes are based on a non-smoker, in good health, taking out a policy with a 20 year term and £150,000 of cover:

AgeLevel termDecreasing term

The table below compares the example prices of a level term life insurance policy from AIG and other two other major insurers.

Quotes are based on a non-smoker, in good health, taking out a policy with a 20 year term and £150,000 of cover:

Age AIG logo Aviva Legal & General

Whole of life insurance

Quotes are based on a non-smoker, in good health, taking out a policy with £50,000 of cover:

AgeWhole of life insurance

The table below compares the example prices of a whole of life insurance policy from AIG and one other major insurer.

Quotes are based on a non-smoker, in good health, taking out £50,000 of cover:

Age AIG logo Zurich logo

Get in touch with Reassured and we’ll do our best to help you save money on your life insurance premiums by comparing multiple quotes.

AIG joint life insurance

Joint life insurance covers two people simultaneously under one policy.

AIG provides two different types of joint policies, one for first event only and one for second event only.

An ‘event’ describes the death of one person covered on the joint policy.

You can choose whether the sum assured is paid out on the first death or the second death.

If the pay out is to be made on the second death, then a claim can't be made for the first death.

Other than an over 50s plan, AIG life insurance and critical illness cover can be taken out as a joint policy.

Writing your policy in trust

Like most life insurance providers, AIG offer you the choice to write most of their policies in trust.

In short, writing your policy in trust gives you more control over who benefits from the policy, as well as when or how the proceeds are distributed.

This is by nominating a person you trust (a trustee) to manage the policy after you pass away.

Writing your life insurance in trust also detaches it from your legal estate, resulting in the following benefits:

  • Avoid (or minimise) 40% inheritance tax (IHT)
  • Avoid the probate process so your beneficiaries receive the funds faster
  • Get more control over your policy

At Reassured, we can provide all the information and guidance you need to write your AIG life insurance in trust, if eligible.

We can help you through the application process, explain any legal jargon and answer any questions you may have.

AIG life insurance contact numbers

Customers can contact AIG Life using the details below.

Customer service

  • Phone: 0345 600 6820
  • Email:


  • Phone: 0345 600 6813
  • Email:

Postal address

Complaints Team
AIG Life Limited
PO Box 12010
CM20 9LG

Making a claim

When making a claim with AIG it's sensible to have all the relevant paperwork to hand.

They’ll request the details of the policy including the name of the policyholder, the policy number and if the policy is written in trust.

At some stage you'll also need to provide the death certificate for the full claims process to begin.

If making a critical illness claim, AIG will need your doctor’s contact details, details of treatments and any supporting documentation from a medical professional.

The AIG claims team can be contacted in the following ways:

  • By telephone: 0345 600 6815
  • By email:

Compare quotes for AIG life insurance, (save money)

Remember, it’s not possible to secure life cover directly through AIG, but it's possible when using a broker service, such as Reassured.

We can compare AIG quotes with other insurers, helping you find suitable and affordable life insurance.

Our multiple award-winning team has helped protect over 2,000,000 families in the UK.

Not only that, but our FCA-regulated broker service is completely fee-free to use.

Contact us today to arrange financial protection for your family and enjoy peace of mind.


All information regarding AIG's product offerings is correct as of 26/03/24. This is subject to change by AIG at any time. Other insurer quotes featured in this article are correct as of 26/03/24



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