5 Details About AIG Guaranteed Issue Whole Life You Need To Know

Written by Heidi Mertlich

AIG, short for American International Group, is one of the largest international life insurance providers. Through American General Life Insurance Company (in New York – they use United States Life Insurance Company), AIG provides world-class products, including Guaranteed Issue Whole Life (GIWL).

According to American International Group:

With Guaranteed Issue Whole Life Insurance, if you’re age 50-85, you can’t be turned down for health reasons, and you can receive permanent life insurance without having to qualify for coverage based on your health. The benefits from this guaranteed issue whole life insurance can lend a helping hand for your loved ones during a difficult time. – AIG, GIWL

Before you make a life insurance purchase, it’s vital for you to understand the key details of a product you are considering, in this case – guaranteed issue.

Here’s why – Every life insurance product and carrier is different. There is no one-size-fits-all life insurance policy. Your needs should determine the best company to apply with, as costs and features vary.

Goal – Review AIG’s Guaranteed Issue Whole Life to decide if it’s a good fit for you.


Table Of Contents

Company History

Guaranteed Issue Whole Life

Application Process

Quotes

Fine Print

Bottom Line

How To Apply


AIG Company Historyaig

AIG’s roots began in China, 1919. American Cornelius Vander Starr opened an insurance agency in Shanghai. Eventually, the organization expanded throughout the world:

In 1926, AIG opened their first U.S. office in New York City, New York, and by 1939, headquarters were transitioned to the New York office.

After World War II, Starr opened offices in Japan and Germany to provide insurance products for the U.S. military in 1946.

Over the decades, AIG continues to grow internationally, including establishing offices in Cuba, Lebanon, United Kingdom, South Korea, Australia and China.

aig

AIG Headquarters, New York City, New York

Financial Strength Rating: A (A.M. Best)

Interesting Fact: AIG was an insurer for the 1997 blockbuster film, Titanic. 

5 Details About AIG Guaranteed Issue Whole Life

To start, let’s begin by establishing a definition of guaranteed issue whole life insurance (GIWL).

Guaranteed issue is life insurance offered to an applicant regardless of their health.

It should not be your first stop when considering a life insurance purchase.

Why? Think of guaranteed issue, and we mean this in the nicest way, as a type of life insurance product that is best for those who are otherwise uninsurable.

Guaranteed issue means your premiums will be higher and your death benefit lower than with other life insurance products (like term). In other words, be sure to evaluate all of your life insurance options before deciding on GIWL.

That said, GIWL can make all the sense in the world for applicants who do not qualify for other types of life insurance. And, AIG’s GIWL is ideal in many instances.

There’s 5 important details you need to know about AIG’s Guaranteed Issue Whole Life:

aig

*Subject to change

1. Wait Time 

AIG’s guaranteed issue whole life policies issue almost immediately. Most applications only take 15 minutes (or less) of processing.

2. Issue Ages

Policies are issued to applicants between the ages of 50 – 85 years old.

Note: If you are younger than 50 years old, be sure to evaluate the best no physical life insurance carriers.

Also note: If you are older than 50, be sure to understand all life insurance options for seniors before making a purchase.

3. Policy Amount

Face amounts range from $5,000 – $25,000.

Keep in mind, guaranteed issue policies are modest in size. GIWL policies are often used for end-of-life expenses, including medical bills or funeral costs.

Important – Your death benefit is graded. Graded benefits mean that your entire death benefit will not be available until year 3 of your policy contract. During the first two years of your policy, you are entitled to 110% of your premium payments returned, up to 50% of the face value of our policy.

 4. Policy Length

AIG’s GIWL product is permanent life insurance. Your policy lasts your whole life and does not expire, as long as you make your premium payments.

5. No Exam

Guaranteed issue means you skip the medical exam and health questions. No nurses, needles, liquid samples or interview about your health or medical history.

AIG Guaranteed Issue Application Process

Expect a straightforward, technologically streamlined process.

  1. Basic information will be collected: such as date of birth and social security number
  2. Your agent will communicate to you the details on AIG’s GIWL policy.
  3. You will provide your beneficiary information.
  4. Submit your payment information.

Once your initial premium payment has been made, your policy is active.

The entire process can be completed electronically and take minutes.

AIG Guaranteed Issue Quotes

Keep in mind, Guarantee Issue policies are more expensive than other types of life insurance – for the face amount. However, this type of coverage can be a gift for those who do not qualify for life insurance otherwise.

Quotes are subject to change.

AIG Guaranteed Issue Life Insurance Quotes Male 50 - 59 Years

 $5,000$10,000$15,000$20,000$25,000
50 Year Old$26.96$51.92$76.89$101.85$126.81
51 Year Old$27.36$52.73$78.09$103.45$128.21
52 Year Old$27.82$53.63$79.45$108.75$135.44
53 Year Old$28.22$54.44$80.66$114.96$143.20
54 Year Old$28.68$55.36$82.04$120.36$149.95
55 Year Old$29.45$56.90$84.35$125.17$155.96
56 Year Old$30.27$58.55$86.82$128.77$160.46
57 Year Old$31.00$60.01$89.01$131.97$164.46
58 Year Old$31.65$61.31$90.96$134.77$167.97
59 Year Old$32.10$62.31$92.31$136.78$170.47
Subject to change.

AIG Guaranteed Issue Life Insurance Quotes Female 50 - 59 Years

 $5,000$10,000$15,000$20,000$25,000
50 Year Old$18.92$35.83$52.74$73.93$91.91
51 Year Old$19.34$36.68$54.02$79.33$98.66
52 Year Old$20.00$37.99$55.98$83.93$104.42
53 Year Old$20.97$39.93$58.90$88.14$109.67
54 Year Old$21.84$41.67$61.51$91.94$114.42
55 Year Old$22.62$43.23$63.85$95.34$118.68
56 Year Old$23.49$44.98$66.47$99.15$123.43
57 Year Old$24.17$46.34$68.50$102.15$127.19
58 Year Old$24.86$47.72$70.58$105.15$130.94
59 Year Old$25.50$49.00$72.50$107.95$134.44
Subject to change.

AIG Guaranteed Issue Life Insurance Quotes Male 60 - 69 Years

 $5,000$10,000$15,000$20,000$25,000
60 Year Old$32.58$63.17$93.75$138.18$172.22
61 Year Old$34.77$67.54$100.31$148.39$184.98
62 Year Old$36.97$71.94$106.91$157.99$196.99
63 Year Old$39.08$76.16$113.24$167.20$208.50
64 Year Old$41.10$80.21$119.31$176.01$219.51
65 Year Old$43.08$84.15$125.23$184.61$230.27
66 Year Old$44.81$87.63$130.44$192.22$239.78
67 Year Old$46.33$90.66$134.98$198.83$248.03
68 Year Old$47.75$93.49$139.24$205.03$255.79
69 Year Old$48.99$95.98$142.96$210.43$262.54

AIG Guaranteed Issue Life Insurance Quotes Female 60 - 69 Years

 $5,000$10,000$15,000$20,000$25,000
60 Year Old$26.01$50.02$74.03$110.15$137.19
61 Year Old$27.52$53.04$78.56$116.76$145.45
62 Year Old$28.90$55.80$82.70$122.76$152.96
63 Year Old$30.09$58.19$86.28$127.97$159.46
64 Year Old$31.00$60.01$89.01$131.97$164.46
65 Year Old$31.78$61.57$91.35$135.37$168.72
66 Year Old$33.40$64.79$96.19$142.38$177.48
67 Year Old$34.73$67.45$100.18$148.19$184.73
68 Year Old$35.96$69.91$103.87$153.59$191.49
69 Year Old$37.16$72.32$107.47$158.79$197.99
Subject to change.

AIG Guaranteed Issue Life Insurance Quotes Male 70 - 79 Years

 $5,000$10,000$15,000$20,000$25,000
70 Year Old$50.09$98.18$146.27$215.24$268.55
71 Year Old$54.59$107.17$159.75$234.85$293.07
72 Year Old$58.99$115.98$172.96$254.07$317.09
73 Year Old$63.12$124.24$185.36$272.08$339.60
74 Year Old$66.97$131.95$196.92$288.90$360.62
75 Year Old$70.28$138.55$206.83$303.31$378.64
76 Year Old$81.97$161.93$241.89$354.35$442.44
77 Year Old$93.20$184.41$275.61$403.39$503.74
78 Year Old$103.98$205.96$307.95$450.43$565.53
79 Year Old$114.31$226.62$338.93$495.46$618.83
Subject to change.

AIG Guaranteed Issue Life Insurance Quotes Female 70 - 79 Years

 $5,000$10,000$15,000$20,000$25,000
70 Year Old$38.26$74.52$110.78$163.60$204.00
71 Year Old$41.93$81.85$121.77$179.61$224.01
72 Year Old$45.42$88.83$132.24$194.82$243.03
73 Year Old$48.76$95.52$142.28$209.43$261.29
74 Year Old$51.83$101.66$151.50$222.84$278.06
75 Year Old$54.59$107.17$159.75$234.85$293.07
76 Year Old$62.38$122.76$183.13$268.88$335.60
77 Year Old$69.73$137.45$205.18$300.91$375.63
78 Year Old$76.60$151.20$225.81$330.93$413.16
79 Year Old$83.02$164.05$245.07$358.95$448.19
Subject to change.

AIG Guaranteed Issue Life Insurance Quotes Male 80 - 85 Years

 $5,000$10,000$15,000$20,000$25,000
80 Year Old$124.22$246.44$368.66$538.70$672.87
81 Year Old$127.59$253.19$378.78$553.79$691.74
82 Year Old$131.19$260.38$389.57$569.87$711.84
83 Year Old$145.08$288.16$431.23$631.29$788.61
84 Year Old$151.97$301.93$451.90$661.90$826.87
85 Year Old$158.91$315.82$472.73$692.70$865.38
Subject to change.

AIG Guaranteed Issue Life Insurance Quotes Female 80 - 85 Years

 $5,000$10,000$15,000$20,000$25,000
80 Year Old$88.71$175.42$262.13$383.77$479.22
81 Year Old$90.69$179.39$268.08$392.76$490.45
82 Year Old$92.83$183.66$274.49$402.46$502.57
83 Year Old$95.83$189.65$283.48$415.92$519.39
84 Year Old$98.17$194.33$290.49$426.51$532.63
85 Year Old$100.53$199.06$297.59$437.18$545.98
Subject to change.

AIG Guaranteed Issue Fine Print

Take note of the following particulars for AIG’s GIWL*:

  • Multiple payment options are accepted: ACH (Automated Clearing House – direct payments from your bank), social security debit card, or credit card.
    • Delayed billing may be set up.
  • Premiums are always level: your life insurance payments will remain the same and never increase.
  • Included Rider (additional benefit to your life insurance contract): Accelerated Death Benefit
    • You have the option to accelerate a portion of your death benefit, should a qualifying illness arise.
    • 50% of death benefit can be accessed if your physician determines you have 24 months or less to live.
  • Insured must be the Owner of the policy.
  • Payor may be different than the Insured.
  • A Social Security Number is required.
  • Free look period: 30 days.
  • Annual policy fee: $24
  • No replacement or conversion of policy allowed.
  • Not available to foreign nationals. 
  • Purchase limits: No more than $25,000 total, with no more than one policy purchased in a 12 month period.

*Subject to change

Bottom Line

AIG’s GIWL can make perfect sense in certain situations:

  1. You do not qualify for other types of life insurance
  2. You need life insurance coverage for anticipated end-of-life costs
  3. You are not in good health
  4. You are between the ages of 50 – 85

How To Apply

Plan on doing two things to secure the best life insurance policy you qualify for:

  1. Collaborate – You will want to partner up with an independent life insurance agent (that’s us). Independent agents are not held captive to a particular carrier and will be able to shop the top no physical life insurance companies. That way, your best interest is at heart.
  2. Plan – Be ready to complete your life insurance application by having important information readily available. This includes your social security number, payment information, and beneficiaries.

Simply fill out our instant quote to get started.

About No Physical Term Life
About No Physical Term Life

We’re an independent life insurance agency that specializes in no exam life insurance. We’re licensed in all 50 states and can help you directly over the phone or even by email if you’d like (just fill out a quote form and you’ll get an email from us).

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