Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: Jun 11, 2021

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The Facts of Life

  • AIG is rated higher
  • AIG offers more term life length options
  • Accordia Life offers more riders

Accordia Life and AIG are affordable life insurance providers. Both are rated highly by the most trusted rating agencies and offer permanent and term life insurance.

However, there are some factors that differentiate the two. Comparing Accordia Life vs. AIG life insurance companies will help you discover the differences to find the company that best fits your needs.

Looking to research insurance companies beyond Accordia Life vs. AIG life insurance rates? Enter your ZIP code to find the best life insurance quotes in your area.

Accordia Life vs. AIG: How have they been rated?

Accordia Life and AIG have been rated by the most trusted life insurance rating agencies. This includes A.M. Best, Standard and Poor’s (S&P), Moody’s, and Fitch. These financial ratings state the financial stability of each provider, determining the likelihood that they’ll be able to provide a payout.

The Accordia Life and Annuity Company has been rated an “A” by A.M. Best and Fitch, an “A-” by S&P, and an “A3” by Moody’s. A.M. Best lists this grade as “excellent,” while Moody’s and Fitch consider their grades high credit quality. S&P’s slightly lower grade says that the provider might be susceptible to adverse conditions.

AIG life insurance received similar ratings to Accordia Life, being rated an “A” by A.M. Best, an “A+” by S&P and Fitch, and an “A2” by Moody’s. While the grades by S&P, Moody’s, and Fitch are higher than Accordia Life, the determinations are the same.

These grades are all high enough that customers shouldn’t be concerned about receiving a payout. Only under the most difficult economic circumstances would either company possibly have any trouble resolving any claims.

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Accordia Life vs. AIG: Do they have complaints?

Examining reviews and complaints can help to determine the quality of service you’ll experience. The Better Business Bureau (BBB) and National Association of Insurance Commissioners (NAIC) allow customers to file complaints about life insurance providers. Both of these organizations have received complaints about Accordia Life and AIG.

At the time of this comparison, the Better Business Bureau has received 45 complaints about Accordia Life over the past three years, higher than most competitors. According to the NAIC, Accordia Life’s complaint ratio is 4.57, much higher than the national average of 1.00.

AIG has received 106 complaints to the Better Business Bureau over the past three years. The company’s complaint ratio is 3.28 according to the NAIC. This complaint ratio is lower than Accordia Life but is still more than three times higher than the national average.

While not disturbingly high, the number of complaints by both providers is higher than the average number of complaints for a company of their size. Reading through the individual complaints will help you determine if they should be a concern.

Accordia Life vs. AIG: What policies do they offer?

Accordia Life and AIG offer term life and permanent life policies. Term life policies last for a specified period while permanent life policies last for the remainder of the policyholder’s life.

Accordia Life insurance offers term life policies in 10-, 15-, 20-, 25-, and 30-year terms. The minimum face amount for this coverage is $50,000, lower than most competitors. This could be a good option if someone is looking for lower coverage or lower premiums.

In addition to their term life offering, Accordia Life offers three types of permanent coverage; universal life, indexed universal life, and whole life insurance.

The main difference between these is that whole life features fixed premiums, universal life has flexible premiums, and indexed universal life premiums depend on popular stock indexes.

AIG insurance has two different term life options; Select-a-Term and QoL Flex Term. The provider offers more term lengths than most providers. In addition to 10- and 35-year terms, customers can choose any number of years between 15 and 30 years. Coverage for this type of insurance ranges from $100,000 to $2 million.

The primary difference between AIG’s term life policies is that QoL Flex comes with an accelerated benefits rider that covers chronic, critical, and terminal conditions. Select-a-Term only offers an accelerated benefits rider that covers terminal illnesses.

AIG features similar permanent life options to Accordia Life with one primary difference. In addition to guaranteed issue whole life and universal life insurance, AIG offers a variable universal life option. This allows policyholders to build greater cash value by investing it.

Accordia Life vs. AIG: What riders are offered?

Most life insurance providers offer additional options, or riders, that can be added to a policy. This allows policyholders more customization, ensuring they receive the coverage they desire. While some of these rides are included at no additional cost, most are optional and can be added on for an additional premium.

Both Accordia Life and AIG offer an accelerated death benefits rider with certain policies free of charge. This allows someone with a chronic, critical, or terminal illness to access a portion of their policy before death.

In addition to the accelerated death benefits rider, Accordia Life has several other options. Optional riders offered by Accordia Life include:

  • Primary insured
  • Additional insured
  • Guaranteed purchase options
  • Children’s insurance
  • Accidental death benefit
  • Waiver of monthly deduction
  • Waiver of a specified premium

Optional riders offered by AIG include:

  • Child rider
  • Waiver of premium
  • Enhanced surrender value
  • Lifestyle income

As you can see, Accordia Life offers more optional riders than AIG.

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Accordia Life vs. AIG: What should you expect when applying?

When you apply for life insurance from Accordia Life or AIG, you’ll have to answer a questionnaire. This determines the risk of your health and lifestyle, allowing the provider to determine your rates. Some of the information that Accordia Life and AIG will require include:

  • Personal medical history
  • Family medical history
  • Hobbies
  • Driving record
  • Credit history

In addition to this information, you’ll be asked to provide some basic personal information. The most common pieces of information required by Accordia Life and AIG include:

  • Name
  • Address
  • Phone number
  • Gender
  • Date of birth
  • Place of birth
  • Citizenship
  • Social Security number
  • Driver’s license number
  • Tobacco use

In some cases, you might be required to complete a medical examination before you can be approved for coverage. This depends on the company and the policy but won’t be required until after you’ve applied.

Accordia Life vs. AIG: How do you apply?

Potential customers of Accordia Life can apply for coverage and receive approval through the company’s website. If you would prefer to speak with a representative, you can also contact them by phone. For those preferring the online application, the company has a mobile-friendly website, allowing access on any mobile device.

AIG offers policies through AIG and AIG Direct. The primary difference is that AIG Direct policies are underwritten by American General Life Insurance. AIG Direct policies are sold online or through a call center while other AIG policies, such as AIG travel insurance, are sold through insurance agents.

Accordia Life vs. AIG: The Bottom Line

Accordia Life and AIG have both received high ratings and a high number of complaints. The determining factor for most people will be the insurance policies offered.

AIG has more term life options than Accordia Life and they differ slightly in their permanent life policies. Comparing Accordia Life vs. AIG life insurance quotes and options will help to determine which one is right for you.

Finding affordable Accorida Life vs. AIG life insurance rates is possible.

Now that you know about Accordia Life vs. AIG, enter your ZIP code to find the top life insurance rates in your area.

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Frequently Asked Questions

Here are some frequently asked questions about life insurance.

#1 – Why should I buy life insurance?

Life insurance can help your family financially after your death. Some common benefits include replacing your income, paying medical expenses, and paying burial costs.

#2 – How much life insurance should I buy?

Life insurance should cover your family as long as they need assistance. For example, if you have children, it should last until they graduate from college or get married. Consider who needs assistance and for how long to determine the right amount.

#3 – When should I review my life insurance policy?

It’s a good idea to review your life insurance policy any time a major life change occurs. Your life changes rapidly so you should also examine it every five years to make sure it still fits your needs.