AIG vs. Haven Life: Best Life Insurance Company in 2021

We compared AIG vs. Haven Life life insurance companies. They both offer term life insurance products, with AIG also offering whole and guaranteed life insurance policies. Haven Life has an A.M. Best score of A++ due to its partnership with MassMutual. AIG has an A.M. Best score of A and has had no NAIC complaints in the past year.

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in...

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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: Jul 19, 2021

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Quick Facts

  • AIG offers term life insurance as well as whole life insurance policies
  • Haven Life specializes in term life insurance
  • Haven Life is partnered with MassMutual and has an A.M. Best rating of A++
  • AIG has an A.M. Best rating of A

Searching for life insurance can be a challenge, especially when comparing two very different companies like AIG vs. Haven Life. To make it easier, we’ve done the work for you.

Keep reading to learn more about the coverages offered by AIG vs. Haven Life, which one is more affordable, which will provide term vs. permanent life insurance, and more.

Before jumping into this AIG vs. Haven Life life insurance review, enter your ZIP code above, and we’ll help you find more insurance providers so you can start comparing rates today.

AIG vs. Haven Life Overview

AIG and Haven Life are two life insurance companies offering policies and annuities to their customers.

Haven Life specializes in term life insurance, while AIG insurance takes a different route, offering a broader range of life insurance products, including permanent life insurance options.

Both companies have a good reputation in the industry and are well-liked by existing customers, making either a reliable choice for those in the market for life insurance.

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Who offers the most affordable coverage?

When looking at AIG vs. Haven Life life insurance quotes, Haven Life appears to offer the most affordable coverage when comparing similar policies.

AIG advertises $250,000 in coverage starting at $14 per month.

Using the pricing tool with Haven Life, we can see the cost of the same coverage, varying by term length, seems to be much more affordable.

Haven Average Monthly Term Life Insurance Rates for a $250,000 Policy
10-Year Term Average Monthly Rates15-Year Term Average Monthly Rates20-Year Term Average Monthly Rates30-Year Term Average Monthly Rates
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While we do not know the term AIG is quoting, we can see here that comparing affordable AIG vs. Haven Life life insurance options for the same coverage suggests that Haven Life offers lower rates.

AIG Coverage Options

There is a wide array of AIG life insurance products, including term life insurance, universal life insurance, and guaranteed life insurance, as well as travel and accident insurance.

Term Policies

AIG term life insurance starts at $14 per month for $250,000 in coverage. There are 18 term lengths available — anywhere from 10 to 30 years — and coverage up to $10 million.

AIG also offers options to convert term life insurance policies into permanent life insurance policies later.

Universal Life Insurance

AIG offers three universal life policies:

  • Index universal life
  • Guaranteed universal life
  • Variable universal life

Each policy is designed with a different client in mind, with different premium structures and benefits.

Currently, AIG does not list any of its variable universal life insurance policies online as available for application. This likely means the company is only servicing existing policies at this time.

Guaranteed Life Insurance

This policy type is designed for seniors with the benefit of accepting all those who apply. The policy offers coverage up to $25,000 and requires no medical exam or questionnaire.

Another benefit of these policies is that they have a fixed premium structure so that the cost won’t increase over time.

Travel Insurance

In addition to life insurance, AIG also offers travel insurance to customers through TravelGuard. TravelGuard features several unique plans tailored to fit the needs of different travelers.

This coverage allows you to have support if you have to deal with anything from canceled flights to unexpected medical expenses.

Personal Accident and Health Insurance

This insurance option is provided through MoreFar Marketing and will provide coverage for unexpected injuries and illnesses.

Haven Life Coverage Options

Haven Life offers two traditional term life insurance policies — the Haven Simple and Haven Term.

Haven Term

Haven Term is the most popular policy. It offers coverage up to $3 million. However, it may require a medical exam for approval.

The terms are standard, varying from 10 to 30 years with level premiums. This policy also comes with the Haven Plus rider.

Haven Simple

The Haven Simple offers approval very quickly and requires no medical exam. However, it only provides coverage up to $500,000.

Premiums remain level throughout the term of the policy, which can range anywhere from 10 to 30 years.

However, in a comparison between AIG vs. Haven Life life insurance rates, Haven Simple may have higher premiums because of the lack of a medical questionnaire and it does not come with the Haven Plus rider.

Haven Plus Rider

The Haven Plus rider adds a lot of benefits to this policy. The rider comes with discounts and some free products from several companies partnered with Haven Life. These benefits include:

  • A free online will
  • Subscriptions to fitness apps
  • A free Timeshifter account
  • Online vault subscription
  • Discounts with the CVS MinuteClinic

Read on to learn about other policies offered by Haven Life.

Other Policies

In addition to these policies, Haven Life also offers a salary protection policy called the Haven Secure and an annuity called Age-Up, designed for those who live past the age of 90 and want income replacement options.

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What is AIG?

Founded in 1919, AIG, or American International Group, is a life insurance company with holdings all over the world. In the US, the company currently has an A.M. Best rating of A and a stable financial outlook.

The company has a solid reputation in the industry and amongst customers.  Currently, AIG holds a complaint index score of zero with the National Association of Insurance Commissioners (NAIC), showing no complaints filed in the past year.

This is a good sign for prospective customers looking to purchase a life insurance policy and invest money for the future with the company.

What is Haven Life?

Reading Haven Life insurance reviews is the best start to deciding if it’s the company for you. Haven Life is an online life insurance company founded in 2014. The young company partners with MassMutual to underwrite all its life insurance products, which provides a great deal of credibility.

Currently, AIG’s A.M. Best score sits at an A++. As MassMutual handles AIG’s policies, it is MasssMutual’s A.M. Best rating that is reported.

Haven Life has received very few complaints with the NAIC, as evidenced by its complaint index score of 0.07 for 2020.

Currently, Haven Life provides term life insurance policies and annuity programs. It offers competitive rates and quick turnaround on applications.

Choosing Between AIG vs. Haven Life

To decide if you should buy AIG vs. Haven Life life insurance, you first need to decide what type of life insurance you want.

If you are looking for an affordable term life insurance policy, Haven Life may offer better prices, and its Haven Plus rider can provide additional benefits to your policy that make it a worthwhile investment.

However, if you’re looking for universal or guaranteed life insurance options, AIG provides these, and Haven Life does not, making it an easy decision between the two.

Now that you’ve finished this AIG vs. Haven Life life insurance review, enter your ZIP code below, and we’ll show you rates from other top companies available near you.

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