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The Truth About AIG Guaranteed Issue Whole Life Insurance Review 2024

February 03, 202410 min read

American General Life Insurance Company is what AIG stands for. One of the biggest life insurance providers in the world, AIG has been in business for more than a century. The AIG guaranteed issue life insurance policy is one of the life insurance policies offered by this corporation, which also offers other types of coverage.

This coverage is intended for senior citizens who might not be eligible for standard life insurance due to their health or for other factors. We’ll examine the AIG guaranteed issue life insurance policy in this blog post to discover if it’s suitable for seniors.

Overview Of AIG

One of the country’s oldest insurance providers, AIG, has a long history of upholding high standards. Cornelius Vander Starr, an American, started AIG in 1919. AIG began operations in the United States in 1926, and it quickly expanded to South America.

During World War II, the firm relocated its headquarters in 1939 to New York City. American General Life Insurance started trading publicly on NASDAQ in 1969. They are currently active in more than 80 nations.

What Is AIG Guaranteed Issue Review?

What Is AIG Guaranteed Issue Review?

The AIG Guaranteed Issue is a terrific strategy to control your financial strength for the future if you’re ready to do so. The business provides a selection of life insurance products that can assist you in financing the retirement and home you’ve always wanted.

With AIG’s guaranteed issue policy, seniors can get long-term protection against unforeseen expenses like medical bills and long-term care without having to spend time and money looking around for insurance.

The business also offers a range of term, whole life, and universal life plans that can help safeguard your income in the event that an illness or injury prevents you from working.

AIG life insurance presents numerous options for seniors who seek more freedom than typical term insurance provides, in addition to providing reasonable prices on its plans.

For instance, the organisation offers particular guarantees, such as cash value and universal life, that enable you to choose the precise amount of coverage you require at any given time.

How Does AIG’s Guaranteed Issue Work?

Guaranteed issue life insurance from AIG is a sort of term insurance that provides more security than conventional whole life plans. It’s typically offered as a one-time payout in full or as an annuity that provides recurring monthly payments for the duration of your coverage.

In principle, guaranteed issue life insurance from AIG is similar to whole life insurance, but with one important distinction: You are not required to pay the whole policy amount up front.

Instead, you can withdraw cash equivalent to the cash value (the entire amount of your premiums invested) and spend it however you see fit, including for debt repayment or the upkeep of your family’s education.

The good news is that AIG will pay you the remaining cash worth in your account if you pass away too soon from any cause other than old age. The bad news is that AIG will also pay you the remaining cash worth in your account if you pass away early for any cause other than old age.

Details of AIG’s Guaranteed Issue Plan

The AIG Guaranteed Issue whole life insurance plan is made to offer fast approved burial coverage regardless of pre-existing problems to seniors aged 50 to 80 who have major health difficulties.

Comprehensive advantages consist of:

  • coverage for accidental death and dismemberment.

  • replacement of income in the event of death.

  • funeral costs.

Depending on your needs, the coverage can have its premiums paid in full or up to a certain amount. The maximum might be up to $25,000 or as little as $5,000, so choose a limit that you feel comfortable with.

Plan Facts

Age Eligibility: 

Minimum 50 years old, Maximum 80 years old


Up to $5,000 – $25,000


Based on age, health, and smoking status

Policy Terms:

Lifetime, as long as you pay your premiums


Include income replacement, funeral expenses, and more 

State Availability:

49 states & DC (excluding NY)

Medical Exam: 

No medical exam is required

Pre-Existing Conditions Excluded: 

Coverage for accidents and critical illnesses exists but illnesses or pre-existing conditions are not covered for the first 2 years

Guaranteed Issue Time Length:

Two years for 110% of the return of premiums

Health Questions:  

No health questions

waiting period

2 year

Benefits Paid:

Face Amount

Amount of Coverage Permanent:

so long as premiums are paid

Seniors Over 80 Can Still Get Life Insurance:

Life insurance is still an option, although it may have stringent requirements. Before getting accepted, you’ll probably need to respond to any health-related inquiries, and you could even need to undergo a physical examination. However, this can be a choice if you need coverage and are over 80.

Do I Need an AIG’s Guaranteed Issue Whole Plan?

If you suffer from severe health issues, you want to think about purchasing a Guaranteed Acceptance life insurance policy. This plan is an excellent choice as long as you have.

On the other hand, if these requirements are not met, you may be eligible for far more modest and inexpensive coverage.


  • Alzheimer’s

  • assistance with daily living tasks

  • Cancer (presently) (presently)

  • cardiac arrests

  • transplanting bone marrow

  • Dementia

  • organ donation

  • Stroke (during the past 12 months) (within the past 12 months)

  • enlarged heart disease

  • Some Problems with Autoimmune Disease

  • An AIG guaranteed issue plan is not typically necessary for seniors.

Gerber Life and Great Western are two more insurance options we offer to cover major pre-existing medical conditions.

Do I Need an AIG Guaranteed Issue Plan If I already have a life insurance policy?

There is no need to switch to an AIG guaranteed issue plan if you are currently insured under a life insurance policy and are in good health.

A life insurance policy with comparable benefits would often cost significantly less than an AIG guaranteed issue plan, which is typically far more expensive.

An AIG guaranteed issue plan’s principal benefit is that it guarantees that your family will get a payout in the event that you pass away before the term is up.

The cost of this assurance may be higher than what most people can afford, which is a drawback.

Make sure that the AIG guaranteed issue Whole Life plan you choose has the same death and income replacement benefits as your current policy if you decide to purchase it.

What Are The Benefits Of AIG Guaranteed Issue Life Insurance?

What Are The Benefits Of AIG Guaranteed Issue Life Insurance?

Purchasing life insurance through AIG Guaranteed Issue has various advantages:

No Health Condition Exclusion:

For seniors who are unable to engage in physical activities because of health issues, this is a wonderful benefit. The good news is that any term life insurance policy can include this benefit.

Tax-Free Income:

For as long as the beneficiaries are alive, the policy will give tax-free income to them. Seniors may also wish to think about purchasing this kind of AIG life insurance coverage for this reason.

Lump-Sum Death Benefit:

Your beneficiary will be given a lump-sum payment for their lifetime if you pass away without first using up all other insurance options.

Coverage for those with health issues:
AIG provides a variety of coverage options for customers who might not be eligible for regular life insurance owing to health conditions.

The policy does not lapse:

AIG provides guaranteed renewable insurance, which means that the policy will not lapse as long as the premiums are paid.

Benefit from AIG’s financial stability:

Profit from AIG’s sound financial standing: As one of the world’s leading life insurance carriers and a Fortune 500 corporation, AIG can be trusted to cover claims.

No waiting periods:

There are no waiting periods with the life insurance products offered by AIG, so you can start receiving coverage right now.

Coverage for accidental death:

Your beneficiaries will get a death benefit even if you pass away as a result of an accident thanks to the accidental death coverage offered by AIG’s life insurance products.

If you live past the first five years of the policy’s coverage, you’ll receive a 100% refund.

AIG will fully reimburse your premium payments if you do not pass away during the first five years of the policy’s coverage.

No surrender or payout penalties:

AIG won’t charge you a penalty if you need to cancel your coverage or cash it out early.


What Are Optional Funeral Insurance Plans?

If the applicant does not have any pre-existing conditions, they will be eligible for a less expensive plan. There are three other types of insurance in addition to funeral plans.

Level Plan: People in good health should apply for level coverage since it offers instant advantages and lower prices due to tight underwriting. Attempting to be eligible for funeral insurance without a waiting period is advised for seniors. Although this kind of coverage is significantly stricter, it will ultimately cost you less money. People who are generally healthy, youthful, and do not have many health issues favour level plans.

Graded Plan: The graded health insurance plan has a more liberal underwriting process but costs more than the level health insurance plan. A two-year waiting period is also included in the graded plan because less medical inquiries are made. Seniors with pre-existing ailments or those who have experienced prior health issues should use this graded plan.

Modified Plan: Because AIG’s Guaranteed Full Life Insurance is less expensive, modified whole life insurance is frequently neglected. It does, however, have a payment structure that is similar to the guaranteed issue option.

How to apply for coverage

How to apply for coverage

Direct purchases of the AIG plan can be made from the business or a financial advisor. AIG Direct offers this plan at the same price as an independent insurance agent.

With American General and AIG Direct, you won’t be helped through the application process or looked for a policy that best meets your needs by an independent representative.

An independent insurance agent can compare prices from several leading funeral insurance providers to locate the best deals.

We advise you to cooperate with us. Even if you choose not to hire us, we are an independent agency with a wide range of businesses. By doing this, you’ll have a decent chance of finding a fantastic price.

Online or by phone, you can acquire a quotation on burial insurance by dialling (855) 468-8900.

We’ll help you out and give you no-pressure counsel. Your phone number must be included on the quote form for us to contact you.

The Takeaway

If none of these apply to you, you might want to think about purchasing an underwritten insurance. Call us, and we’ll help you locate one. If you suffer from any of these medical conditions, you should enrol in AIG as soon as possible.

  • being looked after at a hospice, hospital, or other medical facility

  • Amputations brought on by diabetes within the previous 24 months

  • any medicine used to treat Alzheimer’s disease or memory issues

  • Dialysis

  • You’ve experienced a heart attack in the prior 12 months.

  • a recent diagnosis or course of cancer therapy

  • Physician-recommended organ transplantation

  • strokes that last longer than a year (TIAs are not included)

  • Over the last 24 months, an insulin shock or diabetic coma

  • with a life expectancy of no more than 24 months, terminal illness

  • just undergone heart or circulation system surgery

  • chronic disease ALS

  • Congestive heart failure and diabetes-related heart failure

  • AIDS or HIV

Final Thought

In conclusion, seniors looking for coverage without a medical exam might consider the 2023 AIG guaranteed issue life insurance policy.

The policy is simple to qualify for and offers your loved ones a death benefit. Fill out the quotation form with your phone number if you’re interested in learning more about this coverage, and we’ll contact you shortly.

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