[INSIDER] AIG Life Insurance For Seniors: When Are They The Best For You?

aig direct life insurance

Written by Kim Wilhelm

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Last Updated 14 Jun 2024

No one wants to be a financial burden to their loved ones. As a senior, you may be worried about how your family will pay for your funeral or your final expenses when you pass away.

If you don’t already have life insurance, you might think you’re too old or unhealthy to get coverage. Luckily, that’s not the case!

There are life insurance companies that cater to all age groups and health concerns. AIG Direct is one of them.

AIG offers several options for young and healthy Americans, but they also have a specific product for seniors with health challenges. No matter what health issues you have, you can get life insurance coverage through AIG if you’re between the ages of 50 and 80.

If you’ve been putting off getting life insurance, we want to help. At Final Expense Direct, we work exclusively with seniors like yourself to get you the coverage you need so your loved ones don’t have to worry about finances while they're grieving your death.

AIG Final Expense Insurance

Senior life insurance is often called final expense insurance because it pays for your final expenses, like funeral costs and medical bills. At AIG, you can get coverage in place to pay for your final expenses and there may still be some leftover to supplement your spouse’s retirement income.

If you don’t already have life insurance but are healthy, final expense life insurance may not be the right fit. If you can answer a few health questions, you might get a better price elsewhere. But for those who can’t, final expense life insurance is usually the best option.

AIG Burial Insurance

They say your funeral is for the living, so they can have one final moment to commemorate your life. But for many God fearing Americans like yourself, a proper burial can seem out of reach when you add up the costs. And the costs increase every year, making it more difficult to afford a proper burial and final send off.

With AIG final expense burial insurance, your family won’t have to worry about the cost. You had the forethought to get life insurance to pay for it, so they can focus on remembering you and spending time with loved ones and cherished friends.

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AIG Life Insurance For Seniors

AIG’s life insurance for seniors policy is a guaranteed issue whole life insurance policy specifically for seniors between the ages of 50 and 80. Guaranteed issue means you are guaranteed to be accepted if you apply. There are no health questions on the application or medical exam to complete. 

With AIG life insurance for seniors, you can’t be turned down!

AIG Senior Life Insurance

One feature that makes AIG stand out from other life insurance companies offering senior life insurance is their included living benefits. Typically, these benefits cost more to be added to the policy, but not with AIG. They are built into the policy, so you’re guaranteed to have these important benefits available at any point during your lifetime.

AIG offers living benefits for chronic illness and terminal illness. If you’re diagnosed with either type of illness, you can access up to half of the death benefit to use while you’re still alive. You can use these benefits for anything, from paying down medical expenses to taking a last trip with your family. 

AIG Funeral Insurance

There’s no denying that funerals can be expensive. The average cost of a funeral with burial and viewing in the U.S. is $8,805. Depending on the services and details you want, it could be much more. 

With an AIG guaranteed issue life policy, you can pay for the funeral you want without leaving out any details. You’re in control with an AIG policy, which isn’t always the case if you buy funeral insurance from the funeral home.

AIG Living Benefits

When you get guaranteed issue whole life insurance from AIG, you get more than just a death benefit. The AIG final expense policy also comes with living benefits, which are benefits you can access while you’re still alive. AIG includes a living benefit rider for chronic and terminal illnesses on its funeral insurance plan. 

The chronic illness rider will return all paid premiums when the insured cannot perform at least two of the six activities of daily living (ADLs), which are:

  • Bathing
  • Continence
  • Dressing
  • Eating 
  • Toileting
  • Transferring

It will also kick in if there is a severe cognitive impairment, such as dementia or Alzheimer’s.

If you’re diagnosed with a terminal illness by a doctor, you can notify AIG if you have a burial insurance policy with them. AIG will provide 50% of the death benefit amount once they confirm the diagnosis. That means if you have a $10,000 death benefit on your AIG final expense policy, they’ll give you $5,000.

You can do whatever you want with the money, including paying down medical bills, your funeral, or having your family or friends come visit you. When the Good Lord calls you home, your beneficiary will receive the remaining $5,000 death benefit.

These living benefits through AIG are free and automatic, so you don’t have to ask for them or pay for them. They’re already included in your premium. If you don’t get diagnosed with a chronic or terminal illness, your full death benefit will be available to your beneficiary when you pass away.

AIG Waiting Period

Although a guaranteed acceptance policy is a great option for those with serious health issues, it has its downsides. AIG’s final expense policy comes with a 2-year waiting period on the death benefit.

When you buy a life insurance policy with a waiting period, it affects the first two years of the policy. If you die within two years of the policy effective date, your beneficiary won’t receive the full death benefit. 

Instead, they’ll get the premiums you paid back, plus interest. The interest amount can vary by company and the state where you live. AIG provides 110% to 120% of the premiums paid if you die during the waiting period.

However, there is one exception. If you die an accidental death during the first two years, AIG will pay the full death benefit to your beneficiary. And once the two years have passed, your beneficiary will receive the full death benefit, regardless of your manner of death.

aig life insurance

These policies can be much more expensive and usually only cover the cost of the funeral. 

It’s even worse if you prepay for your funeral. With ever-increasing costs continuing to rise with inflation, the last thing you want is for your loved ones to get slapped with an inflation bill after you thought you paid your funeral in full. 

AIG Life Insurance Costs

When you buy guaranteed issue life insurance, you should expect it to be more expensive. This is because the life insurance company can’t base your mortality risk on your health. Consider this when comparing the cost of AIG life insurance to other companies asking health questions or requiring a medical exam.

With AIG, a 65-year-old man can expect to pay around $84 a month for coverage. A woman of the same age can expect to pay about $62 per month.

AIG Direct Guaranteed Life Insurance Sample Quotes/ $10,000 Male - Female




Age 50



Age 55





Age 65









Age 85



2022 Sample Quote for life insurance rates for a health standard non-smoking individual at sample rates of say $10,000. These are examples of rates that may or may not be available to you and you should not rely upon these numbers. Contact Final Expense Direct today to get your personal final expense insurance quote. 1-877-674-0236 Get Your Free Quote Today!

For the same policy, a 55-year-old man will pay about $35 and a 55-year-old woman pays around $28 per month. When comparing these numbers, it’s easy to see why getting life insurance sooner can keep your costs down for the same level of coverage.

At Final Expense Direct, we can work with you to get the life insurance policy that is best for you. We recommend AIG because they offer free living benefits, but they may not be your best option.

Call us today at 1-877-674-0236 so we can get you approved in just one phone call. We’ll ask you a few questions, help you decide on a plan, and get you approved right over the phone. 

We make it easy to provide you and your loved ones peace of mind by removing the financial burden often left when a senior dies without life insurance. 

  • Immediate Approval Over the Phone Today!
  • Speak to a Live Agent 
  • Just a Few Health Questions 


AIG offers guaranteed acceptance permanent life insurance for seniors. You can’t be turned down, and you get free living benefits you can access while you’re still alive. When buying senior life insurance, the sooner you get covered, the better your rate is. To find out if AIG is the best choice for you, call us today at Final Expense Direct. We work with the top final expense life insurance companies to get seniors covered in just one phone call. Even if AIG isn’t the best option for you, we have a carrier that is. Don’t go another day without life insurance, your loved ones will thank you.


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