AIG vs. State Farm Life Insurance [2024]
AIG vs. State Farm life insurance rates are clearly in favor of AIG. Top rating agencies like A.M. Best and S&P rate State Farm and AIG high though State Farm is superior for financial strength. When comparing State Farm vs. AIG customer satisfaction ratings, State Farm is much stronger according to J.D. Power.
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Dani Best
Licensed Insurance Producer
Dani Best has been a licensed insurance producer for nearly 10 years. Dani began her insurance career in a sales role with State Farm in 2014. During her time in sales, she graduated with her Bachelors in Psychology from Capella University and is currently earning her Masters in Marriage and Family Therapy. Since 2014, Dani has held and maintains licenses in Life, Disability, Property, and Casualt...
Licensed Insurance Producer
UPDATED: Nov 7, 2024
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.
Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.
UPDATED: Nov 7, 2024
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.
Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- The AIG vs. State Farm life insurance rates are strongly in favor of AIG
- State Farm and AIG are both in good financial standing, but State Farm is superior for financial strength
- State Farm ranks much higher than AIG for customer satisfaction according to J.D. Power
When shopping for life insurance you might consider popular brands like AIG vs. State Farm. Popular companies often provide competitive term life insurance quotes while providing policyholders convenience nationwide.
It’s hard to choose between two companies like AIG and State Farm. We’ll help you decide by comparing the State Farm and AIG life insurance rates, financial strength ratings, customer satisfaction, and more.
Before you rush to find AIG vs. State Farm life insurance quotes, you’ll want to see what other companies have to offer. Get instant rates from top life insurance providers using our free quote tool above.
AIG vs. State Farm: Which insurance company is best for life insurance?
AIG and State Farm are household names in the insurance industry. Both companies offer a variety of insurance products for consumers to choose from with each being considered among the best available.
American International Group (AIG) is well-known for providing different products including but not limited to:
- AIG Travel Insurance
- AIG Retirement Solutions
- AIG Health Insurance
- AIG Auto Insurance
- AIG Stock Investments
Similarly, State Farm is an insurance powerhouse that offers an assortment of products. With State Farm, you’ll find a wide variety of insurance options including:
- State Farm Homeowner’s Insurance
- State Farm Car Insurance
- State Farm Disability Insurance
- State Farm Business Insurance
With each company, there are even more insurance options than those listed above. Is AIG life insurance any good? What about State Farm?
Because of the size, history, and popularity of these companies, many consider them among the best life insurance companies. We’re here to break down and compare AIG vs. State Farm insurance so you can see which company is the best for you.
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AIG vs. State Farm: Which company has cheaper term life insurance?
Life insurance can sometimes seem like an inconvenient expense. Unlike products like AIG or State Farm auto insurance, life insurance is typically only used one time.
This means that you might pay premiums for many years before you ever have a claim in which the insurance company pays your death benefit. In reality, you’re simply paying for on behalf of your beneficiaries so you don’t want to pay too much for life insurance.
Sample AIG Life Insurance Average Monthly Rates by Age, Gender, and Coverage
| Gender and Coverage | Age 25 Average Monthly Rates | Age 35 Average Monthly Rates | Age 45 Average Monthly Rates | Age 55 Average Monthly Rates |
|---|---|---|---|---|
| $100,000: 20-Year Term (Male) | $10.94 | $11.17 | $17.59 | $37.26 |
| $100,000: 20-Year Term (Female) | $10.60 | $11.07 | $14.42 | $27.46 |
| $250,000: 20-Year Term (Male) | $12.90 | $13.53 | $28.28 | $69.89 |
| $250,000: 20-Year Term (Female) | $11.33 | $12.69 | $23.06 | $52.58 |
| $500,000: 20-Year Term (Male) | $19.57 | $21.28 | $48.60 | $124.83 |
| $500,000: 20-Year Term (Female) | $16.67 | $18.37 | $38.47 | $90.58 |
AIG life insurance rates are competitive with most industry providers. Starting around $10 per month, these rates are affordable and in many cases cheaper than AIG’s competitors.
Sample State Farm Average Monthly Life Insurance Rates by Age, Gender, and Coverage
| Gender and Coverage | Age 25 Average Monthly Rates | Age 35 Average Monthly Rates | Age 45 Average Monthly Rates | Age 55 Average Monthly Rates |
|---|---|---|---|---|
| $100,000: 20-Year Term (Male) | $14.53 | $17.57 | $26.54 | $50.98 |
| $100,000: 20-Year Term (Female) | $12.70 | $15.40 | $22.97 | $38.11 |
| $250,000: 20-Year Term (Male) | $23,27 | $26.09 | $45.47 | $105.72 |
| $250,000: 20-Year Term (Female) | $18.72 | $22.19 | $37.42 | $78.97 |
| $500,000: 20-Year Term (Male) | $34.79 | $40.04 | $79.19 | $203.14 |
| $500,000: 20-Year Term (Female) | $27.39 | $32.19 | $66.14 | $143.99 |
State Farm’s life insurance rates start a bit higher than AIG’s. In this case, even the cheapest life insurance policy starts a few dollars higher with State Farm. While this might not seem like much, it can add up over time.
Average AIG vs. State Farm Average Monthly Life Insurance Rates by Age, Gender, and Term Length for $250,000
| Age and Gender | 10-Year Term (AIG) Average Monthly Rates | 10-Year Term (State Farm) Average Monthly Rates | 20-Year Term (AIG) Average Monthly Rates | 20-Year Term (State Farm) Average Monthly Rates | 30-Year Term (AIG) Average Monthly Rates | 30-Year Term (State Farm) Average Monthly Rates |
|---|---|---|---|---|---|---|
| 25 - Male | $10.34 | $20.02 | $12.90 | $23.27 | $18.94 | $31.12 |
| 25 - Female | $9.57 | $17.62 | $11.33 | $18.72 | $15.49 | $23.07 |
| 35 - Male | $11.67 | $21.74 | $13.53 | $26.09 | $21.08 | $39.37 |
| 35 - Female | $11.08 | $19.37 | $12.69 | $22.19 | $18.89 | $30.02 |
| 45 - Male | $17.95 | $30.44 | $28.28 | $45.47 | $46.47 | $81.99 |
| 45 - Female | $16.46 | $28.72 | $23.06 | $37.42 | $38.98 | $55.89 |
| 55 - Male | $41.68 | $67.22 | $69.89 | $105.72 | $132.37 | N/A |
| 55 - Female | $31.68 | $50.02 | $52.58 | $78.97 | $107.73 | N/A |
When comparing the AIG vs. State Farm life insurance rates, you’ll notice that AIG is significantly cheaper for life insurance. Many times, AIG insurance is about half the price of a State Farm insurance quote.
AIG vs. State Farm: Which company has better ratings?
It’s no surprise that most customers will start looking for affordable AIG vs. State Farm life insurance rates before looking into other details about each company. Price is important for most normal people.
Don’t forget that cheap life insurance isn’t the only important factor to consider when you look to buy AIG vs. State Farm life insurance. You also want to evaluate ratings, customer reviews, and policy details or discounts. What is the AIG insurance rating?
Ratings Comparison for AIG vs. State Farm
| Ratings Agency | AIG Rating | State Farm Rating |
|---|---|---|
| A.M. Best | A | A++ |
| Better Business Bureau (BBB) | F | NR |
| Fitch's Ratings | A+ | N/A |
| J.D. Power | 742 | 838 |
| Moody's | A2 | Aa1 |
| Standard & Poor's (S&P) | A+ | AA |
Despite AIG clearly being the more affordable of the two, State Farm has much stronger ratings for financial strength and customer satisfaction.
A.M. Best rates State Farm as superior, as does Moody’s and S&P. AIG actually has strong financial strength ratings too, but they aren’t in the same ballpark as State Farm’s.
In addition, J.D. Power ranks State Farm as the gold standard for customer satisfaction as a life insurance provider. Which insurance company is better than State Farm?
According to J.D. Power, you might not find a stronger company when it comes to customer service. You might not have as much success getting customer service help through your AIG login or customer service hotline.
AIG vs. State Farm: What discounts and riders are offered?
So far we’ve noted that AIG boasts cheaper life insurance rates while State Farm is clearly superior for financial strength and customer satisfaction. The final step is to see if either company offers any additional benefits that could help you as a policyholder.
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Unfortunately, life insurance discounts are rare for all providers. In some cases, you could get lucky and find a company that offers health incentives or other programs, but even those are rare.
Both AIG and State Farm have standard life insurance riders that could help make your life insurance policy more flexible. Each company offers:
- Waiver of Premium Life Insurance Rider
- Children’s Term Rider
- Select Term Riders
These are just a few of the common life insurance riders you’ll find with AIG and State Farm. You can learn more about these through our AIG life insurance review or an AIG or State Farm agent.
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AIG vs. State Farm: What are the pros and cons?
Choosing the right life insurance is an important decision. You’ll want affordable rates but good protection so you know that your beneficiaries will be covered when the time comes.
Here, we’ll break down the key pros and cons of State Farm and AIG life insurance.
Pros
- Strong Financial Ratings (Both Companies – State Farm rated higher)
- Competitive Rates (AIG)
- Good Life Insurance Riders
- Strong Customer Satisfaction (State Farm)
Cons
- No Discounts (Both Companies)
- Customer Service Concerns (AIG)
- Expensive Rates (State Farm)
When choosing AIG vs. State Farm life insurance, you’ll have to decide if you want to spend less money or have a better customer service experience. Each company has different strengths and weaknesses.
AIG vs. State Farm: The Bottom Line
Most popular life insurance companies have earned a good reputation for a reason. In this case, AIG offers term life insurance with competitive rates while State Farm seems to have mastered the customer experience.
Still having trouble deciding if AIG vs. State Farm life insurance is right for you? Get personalized quotes from other top companies in just a few clicks using our free quote tool below.
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Frequently Asked Questions
What insurance products does AIG offer?
AIG offers life insurance, auto insurance, home insurance, and more.
What insurance products does State Farm offer?
State Farm offers life insurance, auto insurance, home insurance, and more.
Which company has cheaper term life insurance, AIG or State Farm?
AIG generally has cheaper rates for term life insurance compared to State Farm.
Which company has better ratings, AIG or State Farm?
State Farm has stronger ratings for financial strength and customer satisfaction compared to AIG.
What discounts and riders are offered by AIG and State Farm?
AIG and State Farm offer standard life insurance riders. Contact their agents for more details.
Your life insurance quotes are always free.
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Dani Best
Licensed Insurance Producer
Dani Best has been a licensed insurance producer for nearly 10 years. Dani began her insurance career in a sales role with State Farm in 2014. During her time in sales, she graduated with her Bachelors in Psychology from Capella University and is currently earning her Masters in Marriage and Family Therapy. Since 2014, Dani has held and maintains licenses in Life, Disability, Property, and Casualt...
Licensed Insurance Producer
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.
