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: Aug 23, 2021

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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 provider and cannot guarantee quotes from any single provider.

Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from top life insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

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The Facts of Life

  • AIG and Transamerica offer a variety of life insurance products that differ only slightly
  • Transamerica life insurance rates for both men and women are more expensive than those with AIG insurance
  • Transamerica’s A.M. Best rating is an A++, while AIG’s A.M. Best rating is an A, which indicates that both companies are financially stable

When it comes to life insurance, your needs are specific, and there are several life insurance companies that you can choose from. Comparing all of the companies that you’re considering is the best method to ensure you’re making the right decision.

This review will compare AIG vs. Transamerica life insurance companies and identify which one is better for you.

Both companies provide permanent and term life insurance and other products. Before deciding between AIG vs. Transamerica life insurance, it is important to shop around and compare products, industry ratings, and rates offered by each company.

However, you should not limit your comparison to AIG vs. Transamerica. Other companies may also provide rates and products that work for you. Enter your ZIP code into our free quote tool above and compare insurance quotes from several companies in your area.

What life insurance products do AIG and Transamerica offer?

AIG offers different types of life insurance that include term life insurance, whole life insurance, and universal life insurance products, while Transamerica offers term life insurance, whole life insurance, index universal life insurance, and final expense insurance.

AIG Life Insurance Products

The AIG term life insurance policy provides temporary coverage in 18 different term durations that you can choose from. Before age 70, it is possiple to convert a term policy to a permanent plan.

AIG offers a guaranteed acceptance whole life policy that provides $5,000 to $25,000 in coverage. It is guaranteed for those between 50 and 85, and it does not require a medical exam or health questions. It also has cash value and fixed premiums that do not increase.

AIG provides a variety of universal life insurance policies, including index universal life insurance, guaranteed acceptance universal life insurance, and variable universal life insurance.

With universal life insurance, you can grow cash value with an index such as S&P 500 or investment portfolios.

Transamerica Life Insurance Products

Two term life insurance products are offered by the Transamerica life insurance company: Trendsetter Super and Trendsetter LB. Trendsetter Super provides death benefits up to $10 million and is convertible to a permanent policy.

Trendsetter LB has death benefits up to $2 million, convertibility options, and provides living benefits for policyholders who are diagnosed with a qualifying critical or chronic illness.

Transamerica offers a whole life insurance product that accumulates cash value guaranteed, has fixed premiums, and offers lifelong coverage. Group coverage provides a $25,000 death benefit, while individual coverage ranges between $2,000 and $3 million.

Transamerica’s Financial Foundation IUL (index universal life) product provides a death benefit plus cash value that accumulates based on an interest rate and investment options. Transamerica has a guaranteed minimum interest rate, so you know your cash value will grow.

The final expense life insurance policy provided by Transamerica has a guaranteed death benefit between $1,000 and $50,000. This policy is intended to be used for final expenses, such as funeral and burial costs.

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Are AIG or Transamerica life insurance rates more affordable?

We understand you want the most affordable AIG or Transamerica life insurance rates, and though AIG life insurance is affordable than Transamerica, neither company is very public about their rates.

AIG states that it can offer a $250,000 term life insurance policy for as low as $14 per month.

As a result, those on a budget are more likely to find affordable AIG insurance products compared to Transamerica products.

Which company has better industry ratings?

A.M. Best evaluates insurance companies on their financial health. Ratings range from A++ to D.

Transamerica received an A++ rating, which shows that it has a superior ability to meet its financial obligations. On the other hand, AIG was awarded an A rating. This AIG insurance rating indicates that it has an excellent ability to meet its financial obligations.

The ratings of the Better Business Bureau range from A+ to F. Transamerica was awarded a B-, while AIG was awarded a B. 

How can I get quotes and file claims?

Transamerica life insurance quotes can only be obtained by calling Transamerica life insurance customer service or an insurance agent. AIG’s website has a form you can fill out to request a quote.

To file AIG life insurance claims, you can start the claim either online or by calling the number provided when you enter your policy number on the company’s website. The forms and document checklist will be provided to you based on the amount of coverage and insurance type you have.

Transamerica life insurance claims can be filed online using your Transamerica life insurance login. You can also contact your insurance agent who can walk you through the process. If you don’t have a login, it is somewhat difficult to find the information needed to file a claim.

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How can I contact AIG or Transamerica?

AIG life insurance customers can either enter their policy number online to get a phone number or simply call (800) 888-2452. The company’s fax number is (844) 930-0370.

AIG’s mailing address for life insurance customers is P.O. Box 818006, Cleveland, OH 44181.

You can contact Transamerica online by filling out the contact form, or you can call them at (800) 797-2643.

Should I buy AIG or Transamerica life insurance?

If you’re on a budget, it may be better to buy AIG life insurance policies, since they are generally cheaper than Transamerica. In addition, AIG has excellent financial ratings, meaning it is in a position to pay claims when needed.

However, whether you choose to buy from the AIG or Transamerica life insurance company will also depend on which type of life insurance you’re looking for. The companies offer similar products but with different customization options, so compare them carefully before deciding.

To get more information about each company, you may want to search for AIG and Transamerica life insurance reviews to get opinions from real customers.

Now that you’ve finished this AIG vs. Transamerica life insurance review, enter your ZIP code below to compare life insurance rates offered by companies in your area for free.