AIG’s flagship company for life insurance, now operating under the Corebridge Financial brand (formerly American General), offers a full range of term life and permanent life insurance products. Its primary specialty is term life insurance and its wide array of Universal Life and accompanying riders.
In the following AIG/Corebridge review, we will help shed light on why we have it ranked as one of our top 10 best life insurance companies by covering a brief history of the company, its ratings, services and products, including life insurance policies offered, and the benefits they provide.
Table of Contents
About AIG & Corebridge Financial
Company Highlights
- Founded in 1919 by Cornelius Vander Starr
- Acquired American General (its life insurance provider) in 2001
- Now operates its U.S. life and retirement business as Corebridge Financial
- Record financial results in 2023 with net income of $3.9 billion
- Adjusted after-tax income of $4.9 billion (up 33% from prior year)
- Life and retirement segment increased premiums and deposits by 26% to over $40 billion
- The largest commercial insurer in the U.S. and Canada
AIG stands for American International Group. AIG life insurance policies are now issued by Corebridge Financial (formerly American General Life Insurance Company (AGL)) except in New York, where issued by The United States Life Insurance Company in the City of New York (US Life).
Cornelius Vander Starr founded what is now AIG back in 1919. He obviously had a knack for what he was doing because he turned a simple general insurance agency into a global behemoth in short order.
In just 7 years time he opened his US based office under the auspicious of American International Underwriters Corporation (AIU), also spreading out into Latin America. The 1940s and 50s saw AIU expanding into European countries. In 1967, AIG was incorporated and the company continued to grow into the global powerhouse that it is today.
And finally, in 2001 AIG acquired American General, its life insurance provider. In recent years, AIG has restructured its operations, spinning off its life and retirement businesses under the Corebridge Financial brand, while maintaining its property and casualty operations under the AIG name.
Before we move on we thought that no review of AIG would be complete without briefly mentioning AIG and its part in the subprime loan fiasco. Throughout the early part of the last decade, a segment of AIG’s business took on way too much risk through various derivative products, a ticking time bomb that finally exploded in 2008-2009.
The Federal Reserve was forced to step in and provide a huge bailout to the company. Of course, this tarnished AIG’s reputation and the company has been working hard on restoring its brand and reputation.
Of note, AIG is a huge global company and the largest commercial insurer in the U.S. and Canada. The division responsible for its downfall was just a small part of this gigantic company. Unfortunately, due to the volatile and destructive nature of the derivatives that division was involved with, it had the power to bring a global giant to its knees.
But it should be noted that the life insurance division was never in peril and would have been sold to a willing and able suitor had AIG not had the Federal Reserve step in.
The bottom line is AIG has recovered and looks as healthy as ever, with record financial results in 2023 and continued growth in its life insurance and annuity business under the Corebridge Financial brand.
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AIG/Corebridge Ratings & Financial Strength
Corebridge Financial (formerly American General Life Insurance Company) is a highly rated life insurance company, though its ratings are solid but certainly not on level with some of its competitors.
Current ratings as of 2025:
- A.M. Best: A (Excellent)
- Fitch: A+ (Strong)
- Moody’s: A2 (Good)
- S&P Global: A+ (Strong)
- Comdex Ranking: 82
- JD Power Customer Satisfaction: Below industry average (ranked 19th in 2024 survey)
- NAIC Complaint Index: Higher than average for its size
A.M. Best rates Corebridge’s outlook as “stable” with a strong long-term credit rating, indicating A.M. Best’s belief in the company’s ability to meet long-term financial obligations.
It’s worth noting that while the company has strong financial ratings, its customer satisfaction scores are below the industry average according to JD Power surveys, and it has a higher-than-average complaint index according to the National Association of Insurance Commissioners (NAIC). These factors should be considered alongside the company’s financial strength when evaluating its products.
All in all, AIG/Corebridge is on solid financial footing and appears to be moving in the right direction towards even higher ratings in the near future, with record financial results in 2023 and a substantial increase in its life and retirement business.
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2025 Product Updates
Latest Developments at AIG/Corebridge
AIG/Corebridge continues to enhance its product offerings and customer experience with significant updates to its term life insurance, accident coverage, and digital capabilities in 2025. These updates reflect the company’s commitment to innovation and meeting evolving customer needs.
Extended Term Lengths (Up to 35 Years)
One of the most significant recent innovations from AIG/Corebridge is the extension of its Select-a-Term product to offer terms up to 35 years, making it the longest available term length from a major insurer. This industry-leading feature provides:
- More flexibility for long-term protection needs
- Options for individuals with longer mortgages or other extended financial obligations
- Potential for locking in rates for a longer period, which can be advantageous in a rising rate environment
- A total of 18 different term durations, ranging from 10 to 35 years, offering unprecedented customization
The extended term options continue to include the company’s robust conversion privileges, allowing policyholders to convert to permanent insurance without additional medical underwriting within the specified conversion period.
New Accident Insurance Coverage
In 2024, AIG launched AIG Accident Expense Plus, a new accident insurance product designed to provide supplemental coverage for accidental injuries. Key features include:
- Coverage for a wide range of accidental injuries
- Optional critical illness coverage for additional protection
- Flexible benefit options to match individual needs and budgets
- Simplified issue with no medical exam requirements
This product complements the company’s life insurance offerings, providing additional protection for unexpected events and helping to fill gaps in health insurance coverage.
Digital Transformation Initiatives
AIG/Corebridge has made significant investments in its digital infrastructure and operational modernization to improve customer experience and efficiency. These initiatives include:
- Enhanced online application processes, with simplified underwriting for many products
- Improved customer portals for policy management and service
- Digital tools for annuity management and retirement planning
- Streamlined claims processes for faster resolution
While these digital enhancements are aimed at improving the overall customer experience, it’s worth noting that the company still has room for improvement in customer satisfaction, as reflected in its below-average JD Power rankings.
AIG/Corebridge Life Insurance Products
Corebridge Financial (formerly American General) offers an extensive product line of insurance and investments for both individuals and businesses. The company’s life insurance products include term life, whole life, universal life, indexed universal life, and variable universal life options.
Term Life Insurance
AIG/Corebridge offers two main term life options: Select-a-Term and AG ROP Select-a-Term (Return of Premium).
Select-a-Term
The company’s flagship term product is coined “Select-A-Term” due to its unique ability to be tailored to meet specific number of years. The term options include:
- 10-year term
- 15 to 35-year terms (including all years in between)
- Industry-leading 18 different term durations
The policy is fully convertible by the end of the term conversion period or age 70, whichever comes first. A conversion option allows you to convert all or a portion of your policy to permanent coverage with no evidence of insurability. Rather, your original health rating is used.
AIG/Corebridge offers competitive term life insurance rates, particularly for those with a pre-existing medical condition, such as diabetes.
AG ROP Select-a-Term
AG ROP is a level premium term product that allows you to surrender the policy for cash value at the end of the term, providing a full return of your premiums. Term lengths include 20, 25, and 26-35 years. This option is available for 30-year terms, refunding premiums if no claim is made during the term period.
Benefits of Term Life Insurance:
- Lower Initial Cost
- Income Protection
- Mortgage Protection
- Conversion Option
Whole Life Insurance
AIG/Corebridge offers several whole life insurance options, including traditional whole life and guaranteed issue policies.
American Elite Whole Life
A non-participating whole life policy that provides guaranteed cash value, guaranteed level premiums, and guaranteed death benefit protection. Key features include:
- No medical underwriting for policies of $99,999 or less for clients up to age 55
- Guaranteed Option to Purchase Additional Insurance – allows the purchase of up to $50,000 more coverage without underwriting up to age 39
- Simplified application process
SimpliNow Legacy
A simplified issue final expense policy for ages 50-80, with coverage from $5,000 to $35,000. Features include:
- No medical exam required
- Both level and graded death benefit options
- Quick approval process
Guaranteed Issue Whole Life
AIG/Corebridge’s final expense whole life insurance policy offers guaranteed coverage regardless of your health. The policy includes a two-year graded death benefit period, during which it pays 110% of premiums if death occurs. Key features include:
- Guaranteed Issue (No Medical Exam or Health Questions)
- Face amounts: $5,000 – $25,000
- Available for ages 50-80
Universal Life Insurance
AIG/Corebridge offers several guaranteed universal life options designed to provide lifetime protection with certain guarantees.
Secure Lifetime GUL 3
The GUL 3 offers a guaranteed death benefit and guaranteed cash value growth. The main draw of this policy is the Lifestyle Income Solution rider which provides accelerated benefits that can be used as income later in life. Key features include:
- Flexible premiums and adjustable death benefit
- Available for ages 18-80 with a minimum $100,000 death benefit
- Guaranteed minimum interest rate of 2% for cash value
- Guaranteed premiums and continuation guarantees
AG Secure Survivor GUL 2
A second-to-die policy designed for estate planning purposes, providing death benefit protection for two individuals with payment upon the second death.
Asset Protector
A universal life policy with added protection features for asset preservation and long-term care needs.
Indexed Universal Life Insurance
AIG/Corebridge offers several indexed universal life (IUL) products designed to provide both death benefit protection and cash value growth potential linked to market indexes.
Max Accumulator+ III
Designed for ages 18-80 with a minimum $50,000 death benefit, this IUL focuses on maximum cash value accumulation. Key features include:
- Cash value growth linked to the S&P 500
- Fixed minimum interest rate of 2%
- Both level and increasing death benefit options
- Flexible investment allocations
Value+ Protector III
Available for ages 18-85 with a minimum $100,000 death benefit, this IUL emphasizes strong death benefit protection with some cash value accumulation. Features include:
- Lower premiums than more conventional permanent coverage
- Multiple index-linked strategies, including participation rate and cap strategies
- Guaranteed 2% minimum on the fixed account
- Choice of fixed account with a guaranteed 2% interest rate floor or indexed accounts
Elite Global Plus II & Elite Index II
The Elite Index II provides three death benefit options: level death benefit, increasing death benefit, and level death benefit with return of premium. The policy provides for a decreasing 19-year surrender charge schedule.
Variable Universal Life Insurance
AIG/Corebridge offers variable universal life insurance through the AG Platinum Choice VUL 2 product.
Indexed Universal Life vs Variable Universal Life
Both IUL and VUL policies provide lifetime coverage, pay a death benefit, and allow access to cash value. Both policies are flexible, allowing you to adjust your payments and death benefit protection up or down to accommodate lifestyle changes.
The main differentiation is how the IUL and VUL allocate funds within the policy:
- With IUL policies: You are not directly investing in the stock market. Rather, the cash value is allocated to the policy’s fixed account, where it will earn interest based on the company’s declared rate. Alternatively, you can transfer all or a portion of your funds to an indexed account. The indexed account tracks a particular index, and your index account is credited interest based, in large part, on how the index performs. IUL policies have built-in safeguards – although your maximum interest is limited by a cap, your downside is also protected due to a guaranteed floor, never less than 0.25% for AIG/Corebridge IUL policies.
- With VUL policies: You can also choose to allocate funds to a fixed account, or transfer to variable investment options sub-accounts. The VUL sub-accounts invest directly in the underlying assets. With VUL policies, there is no minimum floor and no maximum cap. Your policy’s value may go up or down based on the performance of the market you are invested in.
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Annuity Products
Corebridge Financial (formerly AIG Life & Retirement) is a major provider of annuities, with strong growth in 2023. The company offers a comprehensive suite of annuity products:
Fixed Annuities
Designed to provide guaranteed income and principal protection, with set interest rates for specific periods.
Indexed Annuities
Combine features of fixed and variable annuities, offering growth potential linked to market indexes with downside protection.
Variable Annuities
Provide the opportunity for higher returns through market-linked investment options, with various living and death benefit options.
In 2023, AIG/Corebridge reported record sales in its annuity business, with over $40 billion in premiums and deposits across its four business lines, driven by growth in general account products and base spread expansion. The company continues to enhance its annuity offerings with improved digital tools for management and new product features for income flexibility and downside protection.
Benefits of AIG/Corebridge Permanent Insurance
Accelerated Access Solution
As people are living longer and longer, the need for help with long-term care costs increases. There are linked benefit long-term care options and stand-alone long-term care insurance policies. However, alternatives exist that provide income benefits derived from the death benefit for a lower premium than typical long-term care insurance, such as AIG/Corebridge’s Accelerated Access Solution.
Accelerated Access Solution is a chronic illness life insurance rider that provides income benefits if you are unable to perform 2 of 6 activities of daily living or have a cognitive impairment that threatens your health and well-being requiring substantial supervision. Your benefit options are 2% or 4% of the death benefit, subject to IRS per diem limits.
If you meet the chronic illness requirements, all your policy and rider deductions are waived. You do not need to submit receipts. You can use the tax-free income benefit however you choose. Benefits are available once the policy has been issued, once the standard 90-day elimination period ends.
The rider allows you to either receive benefits if you meet the requirements for chronic illness. Alternatively, if you do not need the chronic illness benefit, your beneficiary receives the life insurance death benefit. Either way, the policy will pay out.
Additional Benefits of Cash Value Life Insurance
Cash value life insurance is a tax-advantaged vehicle that provides the following additional benefits:
Tax-Free Life Insurance Policy Loans
Life insurance loans are not taxable. You have the right to borrow from the carrier, using your cash value as collateral, for whatever you wish. The loan is charged against your death benefit. If you die with an outstanding loan, any amount still owed, plus interest, will be taken from your death benefit before your beneficiary receives the remainder.
Because they are not taxed, you can use life insurance loans to supplement your retirement income without fear of losing certain retirement benefits.
Tax-Deferred Cash Value Growth
Under IRC 7702 which deals with cash value life insurance, the cash value in your policy grows tax-deferred. Apart from withdrawing your cash value above your basis or having your policy lapse, your cash value is yours tax-free by utilizing policy loans. Just be sensible and don’t borrow so much that your policy ends up imploding on you.
Tax-Free Death Benefit
The life insurance death benefit is not taxed. As long as your estate is under the federal exemption limit, or your own state inheritance tax level, no tax from your life insurance proceeds will be taxable. For larger estates, careful asset protection planning is necessary.
AIG/Corebridge Life Insurance Policy Riders
The following life insurance riders from AIG/Corebridge are not available on all types of policies:
- Child Rider – you can add term life insurance for children to your coverage at one set price no matter how many children you have.
- Terminal Illness Rider – allows access to your death benefit if you have a qualifying terminal illness resulting in a life expectancy of 12 months or less.
- Waiver of Premium Rider – premium is waived if you become totally disabled before a certain age, typically 60-65.
- Lifestyle Income Solution – Starting at age 85, you can accelerate up to 10% of the death benefit per year tax-free up to your basis in the policy.
- Accelerated Access Solution – You can access the death benefit to help pay for care due to a qualifying chronic condition after a 90-day elimination period.
- Accidental Death Benefit – additional death benefit payment if death is due to an accident.
- Disability Benefit – provides benefits if you become disabled.
- Early/Enhanced Cash Value – improves early policy cash value.
- Lapse Protection – helps prevent policy lapse under certain conditions.
- Maturity Extension – extends the maturity date of the policy.
- Nursing Home Confinement – provides benefits for nursing home stays.
- Overloan Protection – prevents policy lapse due to excessive loans.
- Return of Premium – returns premiums paid under certain conditions.
- Spouse/Other Insured – provides coverage for a spouse or other individual.
Key Considerations When Evaluating AIG/Corebridge Products
Strengths: The company excels in offering a wide product selection with flexible term options (up to 35 years), affordable premiums for many risk categories, and strong financial backing. The Accelerated Access Solution for chronic illness is also a standout feature for those concerned about long-term care needs.
Areas for Consideration: Customer satisfaction ratings are below industry average, with a higher-than-average complaint ratio. Those prioritizing top-tier customer service may want to compare AIG/Corebridge with other insurers in this regard.
Best For: AIG/Corebridge products are particularly well-suited for those seeking customizable term lengths, individuals with certain pre-existing conditions (like diabetes) who might face higher rates elsewhere, and those looking for combined life insurance and chronic illness protection.
Online Experience and Application Process
AIG/Corebridge has made significant strides in improving its digital presence and application process:
- Online quotes and applications are available for many products
- Several policies can be obtained with no medical exam, using simplified underwriting
- Digital tools for policy management have been enhanced
- Claims processes have been streamlined for a better beneficiary experience
However, the most complex products and larger policy amounts typically still require working with an agent and completing a more thorough underwriting process. This aligns with industry standards for higher-value life insurance policies.
How AIG/Corebridge Compares to Competitors
When evaluating AIG/Corebridge against other major life insurers, several distinctions stand out:
- Term Length Options: AIG/Corebridge’s 18 different term durations (10-35 years) offer more flexibility than most competitors, who typically limit choices to 10, 15, 20, or 30 years.
- Pricing for Health Conditions: The company often offers more competitive rates for applicants with certain pre-existing conditions, making it worth considering for those who might face higher premiums elsewhere.
- Living Benefits: The QoL® Accelerated Benefit Riders included on many policies provide strong chronic illness protection compared to many competitors.
- Customer Service: This remains an area where AIG/Corebridge lags behind some competitors, based on industry surveys and complaint ratios.
- Financial Strength: While strong, AIG/Corebridge’s ratings are typically a notch below the very top-tier insurers in the market.
The right choice depends on your specific situation, needs, and priorities. For example, if you need an unusual term length (like 27 years to match a mortgage), AIG/Corebridge offers flexibility that many competitors don’t. Conversely, if premier customer service is your top priority, you might want to explore other options.
Looking Forward: The Future of AIG/Corebridge
AIG’s decision to separate its life and retirement business under the Corebridge Financial brand represents a strategic move to allow each business segment to focus on its core strengths. This restructuring, along with the company’s strong 2023 financial performance and continued investments in digital capabilities, suggests a positive trajectory for the future.
The company’s record sales in annuities and continued innovation in life insurance products indicate a commitment to growth and competitiveness in these markets. Additionally, the focus on operational modernization and digital transformation aims to address some of the customer service challenges that have been reflected in satisfaction rankings.
As with any insurance purchase, it’s important to evaluate AIG/Corebridge products in the context of your specific needs, comparing them with offerings from other reputable insurers to find the best fit for your financial goals and protection requirements.
Whatever your life insurance needs may be, our team at Insurance and Estates is here to help guide you through the options and find the solution that best fits your unique situation. We represent multiple top-rated companies and can provide objective comparisons to help you make an informed decision.
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14 comments
Nick Dube
Can I buy an IUL with IAG but am based in the UK
Insurance&Estates
Hi Nick,
I recommend that you reach out to our non us resident insurance pro Jason Herring by emailing jason@insuranceandestates.com.
Best,
Steve Gibbs for I&E
Steven Gibbs is a licensed insurance agent, and the following agent
license numbers of Steven Gibbs are provided as required by state law:
Resident License; AZ agent #17508301,
Non-resident Licenses: TX agent #2273189, CA agent #0K10610,
LA agent #769583, MA agent #2049963, MN agent #40563357,
UT agent #655544.
Lee White
Hello. I’m interested in an IUL policy for myself and my daughter. Thanks!
Insurance&Estates
We sent your information over to our IUL expert Jason Herring. You can also reach him by emailing jason@insuranceandestates.com to request a call if you haven’t already connected with him.
Best,
Steve Gibbs for I&E
Steven Gibbs is a licensed insurance agent, and the following agent
license numbers of Steven Gibbs are provided as required by state law:
Resident License; AZ agent #17508301,
Non-resident Licenses: TX agent #2273189, CA agent #0K10610,
LA agent #769583, MA agent #2049963, MN agent #40563357,
UT agent #655544.
Joey Simmons
I’m interested in exploring an IUL. I would like to talk with someone about it.
Insurance&Estates
Hi Joey, and thanks for connecting. If you haven’t already, go ahead and email our IUL expert Jason Herring at jason@insuranceandestates.com to request a 1-1 phone consultation.
Best, Steve Gibbs for I&E
Steven Gibbs is a licensed insurance agent, and the following agent
license numbers of Steven Gibbs are provided as required by state law:
Resident License; AZ agent #17508301,
Non-resident Licenses: TX agent #2273189, CA agent #0K10610,
LA agent #769583, MA agent #2049963, MN agent #40563357,
UT agent #655544.
Mary E Fernando
I am interested in exploring an IUL policy. I’m not sure where to start.
Insurance&Estates
Hi Mary, if our IUL expert Jason Herring hasn’t already reached out to you, go ahead and request a call with him at jason@insuranceandestates.com.
Best, Steve Gibbs for I&E
PAMELA CREIGHTON
I do not see cancer policy on your site.
Insurance&Estates
Hi Pamela, thanks for commenting. If you need this or any kind of coverage, best to send a private e-mail to barry@insuranceandestates.com.
Best, I&E
Clara Ketner
I would like something mailed to be about this insurance policy. Clara Ketner
Insurance&Estates
Hello Clara, it appears that you’re looking for an insurance company. Sometimes folks confuse us with the company, so please check your policy and make sure you’re calling the company directly.
Best, I&E
Stephen Franklin
I would like to purchase an IUL for myself, my daughter and mother
Steven Gibbs
Hello Stephen,
We forwarded your request to our IUL expert, Pro Client Guide, Jason Herring, so please watch for an email from him. You can also reach out to him directly to request a call by emailing jason@insuranceandestates.com.
Best, I&E Pro Team