AIG vs. SBLI: Best Choice for Life Insurance (2024)

American International Group (AIG) and Savings Bank Life Insurance (SBLI) are leaders in the life insurance industry. Many companies in the sector offer great, competitive rates and benefits for consumers.

However, the abundance of choice can sometimes become overwhelming. Comparing companies side by side can help to make the ultimate decision. 

Before you begin, make sure you understand the basics of life insurance, its purpose, and possibilities for your policy. Read our life insurance 101 guide for a quick refresher.

Comparing AIG vs. SBLI life insurance indicates many key differences in price points, policies offered, and consumer ratings. Fortunately, both companies offer a range of term life products and permanent life insurance policies. 

Read on to learn more about AIG vs. SBLI life insurance. Enter your ZIP code above to compare life insurance rates from providers near you for free.

AIG or SBLI: Which has the better rates?

Life insurance is vitally important to protect yourself and your loved ones financially, but it can quickly become costly. Fortunately, savvy consumers can look for ways to lower their premiums and garner great savings.

Both AIG and SBLI offer flexible term life insurance products, ranging in length from 10 to 35 years. Term life policies offer affordable rates, and can be great options for those aiming for a long term relationship with their life insurance company.

There are a few factors that contribute to life insurance pricing. While some are out of consumers’ control, others can be remedied or avoided with simple lifestyle changes.

The main factors that will affect your life insurance costs include:

• Age
• Gender
• General health
• Lifestyle choices
• Family medical history

There is a lot to know about these factors and how you can improve your chances of a better life insurance rate. When it comes to AIG vs. SBLI, these factors illustrate major differences between the two companies.

Age

Insurers tend to offer lower rates for younger, healthy people. Though you can’t control your age, this means consumers should get life insurance as soon as possible.

Purchasing coverage this year can garner a lower rate than down the line. This rate will be consistent throughout the length of your policy.

Gender

Gender is the second-biggest factor considered within life insurance pricing. Insurers use statistical models to create profiles for their customers.

Research from the Center for Disease Control and Prevention indicates that on average, women live about five years longer than their male counterparts. This means women tend to have lower rates.

Let’s break down the life insurance battle of the sexes. The average monthly AIG vs. SBLI life insurance rates for women are included below.

The data indicates that SBLI offers cheaper life insurance rates for women than AIG. Unfortunately, some SBLI policies are not available for women over 65 years old. 

The offerings for men of the same age indicate similar patterns. 

SBLI once again offers lower rates than AIG, but men over the age of 65 do not have access to some policies. Not surprisingly, the lowest rates are offered to those purchasing individual life insurance policies in their younger years.

Affordable life insurance coverage is possible with either AIG or SBLI, depending on your background and circumstances. Be certain to compare the same type of coverage with each company to determine which company’s policy options most suit your needs. Both companies will have optional riders that you may want to consider. Carefully evaluate life insurance options before making a determination.

General health

Your health is a big determinant for your life insurance rates and policies. Most underwriting processes for insurers will include a medical exam which documents a patient’s height, weight, cholesterol, blood pressure, and other vital metrics.

This process has existed for decades, but some companies offer no exam options. AIG and SBLI both offer exam exemptions for qualifying customers.

AIG offers Guaranteed Issue Life Insurance, which offers coverage to those who meet the policy age restrictions. The cost of this coverage is not based on a patient’s health or history. This option may cost slightly more for consumers hoping to opt-out of needles and testing.

SBLI offers Accelerated Underwriting, which provides coverage within a week and does not require any medical examination. This is a great option as SBLI provides the same rates regardless of the physical exam.

Lifestyle choices

The manner in which we live our lives can have great implications for our health, and by extension, our life insurance. Things like frequency of exercise, smoking preference, and profession can all make a difference for your policy. 

The two companies have different approaches to assessing their customers’ lifestyle choices. AIG insurance forms request information on a buyer’s interests, hobbies, and background. AIG offers discounts for their employees and does not penalize casual tobacco smokers. 

SBLI will ask about your potentially risky job and behavior, including working in the military, smoking, driving recklessly, underwater sports, skydiving, and more.

They also have a partnership with AAA to encourage safe driving and benefit cardholders.

Family medical history

Your family background will be the final major consideration when pricing your coverage. Those predisposed to certain illnesses or conditions may need specialized treatment, and life insurance companies will likely increase their premiums.

If you complete AIG insurance forms for a policy with medical underwriting, you will be required to input medical information about your mother, father, and siblings. 

SBLI will also ask you to disclose any family or personal history of depression, diabetes, anxiety, asthma, and substance abuse.

Consumers who do not wish to disclose this information can purchase no exam policies instead, sometimes at a higher cost.

AIG vs. SBLI: Which company is more accessible?

With the digital world expanding every second, it’s important to utilize the online tools offered by insurance companies. These resources help save time and energy and provide helpful information you may not have otherwise known.

AIG vs. SBLI life insurance company reviews indicate great customer service and support online. 

Both AIG and SBLI maintain useful online portals where a customer can make a payment, review their policies, and more. 

Through the AIG login, members are able to manage all facets of their account. The digital AIG portal provides access to annuities, consumer life insurance, industry news, retirement services, and workers’ compensation information.

SBLI provides their online services through the my.SBLI portal. The SBLI life insurance login has a heavy customer service focus alongside their usual offerings.

It is extremely easy to submit a SBLI life insurance online payment and contact the customer care team. They also host a very helpful frequently asked questions section that details everything there is to know about life insurance.

AIG vs. SBLI: Which company has the best ratings?

Customer ratings can speak volumes about the quality of service provided by a life insurance company. Consumers need an insurer they can trust and feel supported by. 

When it’s time to buy AIG or SBLI life insurance, make sure to consider policy strength and customer satisfaction.

A.M. Best provides independent reviews of the financial health and backing of insurance companies. AIG has an A.M. Best rating of A while SBLI scored an A.M. Best A-, indicating that both companies are very financially responsible. 

AIG and SBLI are both highly trusted life insurance providers with great options for those who qualify. 

AIG offers a great range of term, universal, and whole life insurance policies. Each option can be customized, and they are generally very flexible with their terms. 

SBLI term life provides similar options, with the added benefit of whole life, final expense coverage, and the possibility of additional riders. These options can help optimize your coverage without breaking the bank. 

Review your coverage options and select the plan that best fits your circumstances. Keep in mind that there are tons of competitive offers from insurers across the country. 

Hopefully you have learned everything you need to know to consider AIG or SBLI among your many life insurance choices. Enter your ZIP code below to get free life insurance quote comparisons from companies near you.

AIG vs. SBLI: Best Choice for Life Insurance Effortless Claims Process

Ease of Filing a Claim (Online, Over the Phone, Mobile Apps)

When it comes to the claims process, both AIG and SBLI offer convenient options for policyholders to file claims. Customers can choose between online, phone, or mobile app methods for filing their claims. This flexibility ensures that policyholders can select the most convenient and efficient way to initiate the claims process.

Average Claim Processing Time

The speed at which insurance companies process claims is crucial for policyholders during their time of need. While specific processing times can vary depending on the nature and complexity of the claim, both AIG and SBLI strive to process claims efficiently. However, it’s essential for policyholders to check with their respective insurance provider for the most accurate information regarding claim processing times.

Customer Feedback on Claim Resolutions and Payouts

Customer feedback is a valuable source of insight into an insurance company’s claim resolution and payout process. Policyholders often share their experiences with these companies, providing valuable information for potential customers. Before choosing between AIG and SBLI, it’s advisable to review customer feedback and testimonials to gain a better understanding of how these companies handle claims and resolve issues.

Unveiling Cutting-Edge Digital and Technological Features by AIG vs. SBLI: Best Choice for Life Insurance

Mobile App Features and Functionality

In today’s digital age, mobile apps have become a convenient way for policyholders to manage their insurance policies. Both AIG and SBLI offer mobile apps with various features and functionalities.

These apps typically allow policyholders to access their accounts, view policy details, make payments, and even file claims directly from their smartphones. Evaluating the user-friendliness and capabilities of these mobile apps can help customers decide which company aligns better with their digital preferences.

Online Account Management Capabilities

In addition to mobile apps, online account management portals are essential for policyholders who prefer to manage their insurance policies through web browsers. AIG and SBLI offer online account management capabilities that enable policyholders to access and update their policies, review billing statements, and perform other account-related tasks.

Evaluating the user interface and functionality of these online portals can aid customers in choosing the insurance provider that best suits their online account management needs.

Digital Tools and Resources

Insurance companies often provide digital tools and resources to help policyholders make informed decisions and better understand their coverage. These tools may include online calculators, educational materials, and informative blog posts.

AIG and SBLI may offer various digital resources to assist policyholders in navigating the world of life insurance. Evaluating the availability and usefulness of these digital tools can be a deciding factor for individuals seeking a comprehensive and digitally accessible insurance experience.