AIG vs. Foresters Financial: Best Life Insurance Company in 2021
The term life insurance comparison for AIG vs. Foresters Financial shows that both companies have similar life insurance rates. The AIG and Foresters Financial financial strength ratings show some variance with AIG boasting an A.M. Best rating of A compared to B+ for Foresters Financial. With few discounts to choose from, the AIG and Foresters Financial life insurance rates start at just $7.79/month.
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Written by
Rachael Brennan
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Reviewed by
Benji Carr
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UPDATED: Jul 19, 2021
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- The life insurance rates for AIG vs. Foresters Financial are comparable, with each company catering to different policy lengths and coverage amounts.
- AIG boasts strong financial ratings while Foresters Financial could use some improvement in this category.
- Neither company offers much in the form of life insurance discounts but you may be able to receive some member benefits.
You’re researching the top life insurance companies and you’ve settled on AIG vs. Foresters Financial. Which is better? Finding the best term life insurance quotes starts with looking at the best life insurance providers.
It takes time to find reputable life insurance companies with good rates. We’ll help by analyzing rates, financial strength ratings, and available discounts for AIG vs. Foresters Financial.
AIG and Foresters Financial are both great companies, but you shouldn’t stop your research comparing AIG vs. Foresters Financial life insurance companies. Take advantage of our free quote tool above to get multiple quotes from top life insurance companies today.
Table of Contents
AIG vs. Foresters Financial: How do they compare?
AIG, or American International Group, is considered a top insurance and financial service provider in the United States. Foresters Financial has also been a strong life insurance provider for over 100 years.
With both AIG and Foresters Financial you will have an assortment of life insurance policies to choose from. AIG and Foresters both provide term life insurance and permanent life insurance options, such as, universal life, and whole life insurance policies to suit various buyer needs.
AIG insurance also offers more than just that type of policy. For example, you’ll find life insurance, personal accident and health insurance, and even AIG travel insurance options.
Both companies have a rich history in the life insurance industry, so which of these life insurance coverage options is the best? We’ll break it down by looking at rates, product lines, ratings, and available discounts below.
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AIG vs. Foresters Financial: What are their monthly rates?
Finding the best life insurance rates is a top priority for most customers, often more than finding the best life insurance coverage to make sure they are adequately protected. As popular brands, you can expect to find affordable life insurance quotes from both AIG and Foresters Life Insurance. But which company has better life insurance rates?
| 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 |
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With most life insurance companies, you’ll notice that men usually pay more than women and that longer terms are more cost-effective than shorter-term policies. You can also expect rates to increase as you age, especially when it comes to term life insurance.
This all holds true with the AIG life insurance rates above. You can learn more about trends for life insurance rates with our life insurance rate comparison charts.
| Company | Age 50 Average Monthly Rates | Age 60 Average Monthly Rates |
|---|---|---|
| American Amicable | $58.50 | $136.35 |
| Banner | $31.17 | $78.83 |
| Cincinnati Life | $27.28 | $56.76 |
| Fidelity Life | $45.68 | $58.32 |
| Foresters | $31.94 | $85.97 |
| John Hancock | $33.92 | $78.08 |
| Liberty Mutual | $32.94 | $59.76 |
| Lincoln | $32.77 | $160.13 |
| Mutual of Omaha | $36.05 | $94.02 |
| Haven Life | $21.54 | $48.09 |
| MassMutual | $31.08 | $63.58 |
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There are some subtle differences when you buy AIG vs. Foresters life insurance rates. AIG is more likely to have cheaper rates when compared to Foresters Financial, but that isn’t always the case.
| Age of Female Non-Smoker | Accordia Life Average Monthly Rates $100,000/20-year | SBLI Average Monthly Rates $100,000/20-year |
|---|---|---|
| 25 | $10.68 | $8.67 |
| 30 | $10.77 | $8.75 |
| 35 | $11.57 | $9.07 |
| 40 | $13.71 | $11.05 |
| 45 | $17.53 | $14.05 |
| 50 | $23.85 | $19.31 |
| 55 | $33.38 | $26.76 |
| 60 | $52.51 | $39.41 |
| 65 | $95.68 | N/A |
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AIG and Foresters Financial quotes are roughly the same for intermediate policy lengths and coverage amounts. AIG tends to be cheaper for 30-year terms and term life insurance policies with more than $250,000 in coverage.
Foresters life insurance rates tend to be cheaper than AIG for younger customers with policy amounts lower than $250,000.
It’s also worth mentioning that the AIG and Foresters Financial burial insurance policies are popular insurance coverage choices for those looking to reduce their insurance expenses.
What is burial insurance? Burial insurance is a basic type of life insurance product that helps cover the expenses of a funeral rather than providing customers with hefty death benefits. The smaller payout means much lower monthly rates.
| Age of Female Non-Smoker | Accordia Life Average Monthly Rates $100,000/20-year | State Farm Average Monthly Rates $100,000/20-year |
|---|---|---|
| 25 | $10.68 | $12.70 |
| 30 | $10.77 | $13.22 |
| 35 | $11.57 | $15.40 |
| 40 | $13.71 | $18.62 |
| 45 | $17.53 | $22.97 |
| 50 | $23.85 | $29.32 |
| 55 | $33.38 | $38.11 |
| 60 | $52.51 | $60.20 |
| 65 | $95.68 | $97.44 |
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With burial insurance, AIG comes in a good bit more expensive than Foresters life insurance, as shown above. This is a good example of why ranking life insurance companies is a complex but important part of the process when you’re choosing a provider.
AIG vs. Foresters Financial: What are their financial strength ratings?
With life insurance, price is typically one of the most important factors for consumers. Many policies are long-term commitments that can add up over time. Because your beneficiary won’t be filing a claim for a long time (hopefully), it’s also important to research a company’s financial ratings.
Financial ratings help us understand if a company is financially stable and if it will be capable of providing death benefits well into the future; it’s a good metric to measure their claims-paying ability. So, is Foresters Financial a good company in that regard?
| Age of Male Non-Smoker | Accordia Life Average Monthly Rates $100,000/20-year | SBLI Average Monthly Rates $100,000/20-year |
|---|---|---|
| 25 | $11.93 | $9.50 |
| 30 | $12.28 | $9.50 |
| 35 | $12.28 | $9.72 |
| 40 | $16.02 | $11.64 |
| 45 | $422.16 | $17.14 |
| 50 | $30.79 | $23.59 |
| 55 | $46.10 | $36.31 |
| 60 | $75.38 | $61.63 |
| 65 | $166.88 | N/A |
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Despite having comparable rates to AIG, Foresters Financial is lacking the financial strength that AIG has. Foresters Financial has made some recent changes that have likely contributed to their subpar financial strength rating, according to GlobalNewsWire.
In short, the AIG and Foresters Financial company ratings suggest neither company is in major financial distress. However, AIG currently looks to be the stronger company for the future.
AIG vs. Foresters Financial: What discounts are offered?
As previously mentioned, considering the cost of insurance is important when shopping for life insurance coverage, and discounts may be a big component. When two life insurance companies have comparable rates, sometimes discounts can be the tie-breaker in making life insurance decisions.
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Neither AIG nor Foresters Financial is well-known for a variety of life insurance discounts. AIG tends to rely on great bottom-line life insurance rates that many competitors can’t beat.
The truth is, it’s often difficult to find life insurance sales or discounts. Foresters Financial, like AIG, also offers reasonable rates and other money-saving resources included in the Foresters Financial services, listed below.
- Diabetes discounts with Accu-chek
- Lifelong learning resources
- Living will services
- Financial counseling
- Orphan benefits and scholarships
- Interest-free terminal illness loans
While the Foresters Financial life insurance rates aren’t directly affected by these discounts or benefits, they can be helpful resources for members to use, free of charge.
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AIG vs. Foresters Financial: What are the pros and cons?
Both AIG and Foresters Financial have been strong life insurance providers for many years.
What are the top 5 life insurance companies? That depends on your needs, resources, and health status. Every company caters to different populations with different budgets.
AIG boasts an A.M. Best rating of A compared to B+ for Foresters Financial.
The Foresters Financial reviews via the Better Business Bureau suggest the company needs improvement with customer satisfaction. AIG also lacks strong reviews through the BBB, with neither company rating above a two out of five.
Because each company has pros and cons, we’ll highlight the key takeaways when analyzing AIG vs. Foresters Financial here.
Pros
- Strong financial ratings (AIG)
- Competitive rates (both companies)
- Strong member resources (Foresters Financial)
Cons
- Few discounts (both companies)
- Subpar financial ratings (Foresters Financial)
- Recent company sell-offs (Foresters Financial)
As of now, there is no major reason to panic for either life insurance company. That said, it appears that AIG is the more stable of the two given recent history.
AIG vs. Foresters Financial: What’s the bottom line?
With comparable rates, decent financial strength, and a lack of discounts from both companies, there is a lot to like when comparing AIG vs. Foresters life insurance options.
Comparing AIG vs. Foresters Financial life insurance quotes is important, but don’t forget to look at other industry leaders. Get free life insurance quotes in just a few clicks to see if you can save money today.
