It is a type of life insurance that provides a death benefit for a specific time period. It is distinct from permanent life insurance, which offers other financial features and can last for a lifetime. Because of its basic nature, term insurance tends to be the most affordable type of insurance.

The policy options you have through AIG Direct Insurance are exactly the same products offered by insurance agents. This means the only difference between AIG and AIG Direct is that you get to choose if you want to work with an agent or not. AIG is with an Agent and AIG Direct is without an agent.

AIG has a solid Financial Strength Rating of A (Excellent) from A.M. Best, but this does not stand out, as many top life insurance companies receive a similar or better rating. American International Group, AIG, is headquartered in New York and is made up of several companies in the group: AIG Direct.

AIG Direct offers Whole Life Insurance options like Universal Life Insurance and Guaranteed Issue Whole Life Insurance.

Direct term life insurance, at its root, is a type of term life insurance product offered online where consumers can deal directly with the insurance company. You can do every step of the life insurance buying process without dealing with an agent, and you can go at your own pace.

The difference between term and whole life insurance can be boiled down to cost and length. Term life insurance is cheaper than whole life and covers you for a set period of time. Whole life insurance typically lasts your entire life and can build cash value, which makes it a more complex and expensive product.

Benefits at AIG

• A pre-tax commuter expense reimbursement account.
• Company match (up to 6% of pay) 401(k)
• Up to 33 days of PTO per year, depending on role, seniority, and length of employment.
• Mobile phone plan discounts.
• Employee assistance program.
• Work-from-home options for certain roles.
• Paid time off for volunteering.

Three of the world's 20 largest insurance companies – AXA Group, Chubb, and American International Group (AIG) – moved up the rankings, with AIG registering the biggest improvement, rising from 439th last year to claim the 90th spot in 2022.

AIG has been in business for over 100 years, a sign of long-term financial stability. They also rank above average in customer satisfaction for their annuity business, according to JD Power.

AIG offers a universal life policy that may work more like a term policy, where you select the number of years you want coverage. 8 However, unlike a term policy, you may be eligible to receive some or all of the premiums you paid back - or to continue permanent coverage for a reduced death benefit.

As a leader in commercial and personal insurance solutions, we are one of the world's most far-reaching property casualty networks, offering a broad range of products, including Liability, Financial Lines, Property, Global Specialty, Crop Risk Services, Personal Lines and Accident and Health.

A term life policy is a contract between you and an insurance company for a defined period, typically between 10 and 30 years. During that term, you promise to pay a premium each month. In return, the company promises to pay a specific amount of money – a death benefit – if you pass away during the term.

A major advantage of term insurance is that it is the more affordable option. So if you have a tight budget, it's often better to have the proper amount of life insurance coverage versus overthinking how much should be term or permanent coverage.

Term coverage is cheaper because it pays out only if the insured person dies during the term of the policy. Whole life insurance costs more because it pays a survivor benefit regardless of when the individual passes and also accrues cash value over time.

Can you cash out term life insurance? Since a term life insurance policy doesn't come with a cash value component, it's not possible to cash it out. This policy solely includes a death benefit that your beneficiaries may receive if you die before the end of the policy's term.

Benefits of Insurance Coverage

• Provides Protection. Insurance coverage does reduce the impact of loss that one bears in perilous situations.
• Provides Certainty. Insurance coverage provides a feeling of assurance to the policyholders.
• Risk Sharing.
• Value of Risk.
• Capital Generation.
• Economic Growth.
• Saving Habits.