AIG vs. Lincoln: Best Life Insurance Company in 2022

An AIG vs. Lincoln life insurance review finds that the two offer similar products. AIG insurance offers several options for term and whole life insurance, along with annuities and add-ons. Lincoln life insurance offers term and permanent coverage and has an A+ rating with AM Best. Comparing AIG and Lincoln life insurance rates show that AIG's rates tend to be lower for both men and women.

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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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Written by Rachael Brennan
Licensed Insurance Agent Rachael Brennan

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 Benji Carr

UPDATED: Jun 29, 2022

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Quick Facts

  • AIG offers term life, whole life, and accidental death insurance coverage
  • Lincoln Financial offers term life and permanent life insurance coverage along with many add-ons
  • Both companies have excellent ratings with A.M. Best

For this AIG vs. Lincoln life insurance review, the focus will be on each company’s offerings for term life insurance, permanent life insurance, and additional coverages, along with their specific financial ratings.

Before you read this AIG vs. Lincoln review, use our free tool above to find life insurance options that work best for you and your family.

What insurance products do AIG and Lincoln offer?

When it comes to life insurance, AIG and Lincoln offer several different options for term life, whole life, and additional annuities, making it easy to find what you need when it comes to life insurance coverage.

AIG Life Insurance Products

AIG offers a broad spectrum of life insurance options, each allowing for additional annuities and add-ons. AIG’s products include:

  • Term Life Insurance: Simple life insurance anywhere from 10-30 year terms
  • Quality of Life: Term life insurance with additional living benefits
  • Universal Life Insurance: Lifetime coverage with the option to adjust benefits
  • Whole Life Insurance: Lifetime coverage with no rate increases
  • Guaranteed Issue Whole Life Insurance: Lifetime coverage specific to individuals 50-80 years of age
  • Accidental Death and Dismemberment Insurance: Coverage if you are seriously injured or killed in an accident

AIG also offers AIG travel insurance along with a flexible plan option. This allows potential policyholders to build their own plans based on their unique needs and the needs of their families and loved ones.

Lincoln Life Insurance Products

Lincoln Financial offers a few separate types of term life insurance, TermAccel Level and LifeElements Level.

Lincoln TermAccel Level Term coverage is level term life insurance for anywhere from 10-30 years. This is a fully automated coverage option that offers quick and affordable coverage.

Lincoln LifeElements Level Term coverage offers the same options as TermAccel for individuals, families, and businesses. This coverage offers coverage amounts of $1 million and above with dedicated teams that specialize in large cases.

In addition to term life, Lincoln also offers a few types of permanent life insurance.

Lincoln Permanent Life Insurance Options
CoverageUniversalIndexed UniversalVariable Universal
Protection GoalProtection up to a lifetimeExtended, guaranteed protectionYou choose the amount and duration of your protection.
Growth GoalLow: Get some growth of your cash valueMedium: Grow your cash value with some protection from market loss.High: Aim to build wealth and access your cash value during your lifetime
Cash Value GrowthInterest is earned at a set rateInterest is tied to a market index like the S&P 5002Interest and cash value fluctuate with the market based on your investment options
Access to Cash Value Income Tax-freeIncome Tax-freeIncome Tax-free
DifferencesFlexibility in setting the premiums and death benefit. And duration/length of time.Flexibility to invest in indexed accounts. You can benefit from the market’s upside while gaining protection against the downside. Options to access the cash value during your lifetime.These policies have the greatest potential for growth. You may be able to choose where your premiums are invested.
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Outside of the specific life insurance options, Lincoln Financial also includes multiple options for add-on coverage:

  • Retirement planning
  • Long-term care expense protection
  • Survivor benefits
  • Tax management
  • Estate planning
  • Charitable giving
  • Business protection

Individuals have a lot to consider when choosing whether to buy AIG vs. Lincoln life insurance. Both companies offer a vast array of life insurance plans to meet policyholders’ needs.

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AIG vs. Lincoln Life Insurance Rates: Which is cheaper?

Because AIG and Lincoln both offer various life insurance coverage options, it is important to note that rates can vary based on a variety of factors including a person’s age, gender, career, and type of policy.

Below you can compare AIG vs. Lincoln life insurance quotes.

A sample of AIG’s monthly rates based on age, gender, and tobacco use is as follows:

AIG Life Insurance Average Monthly Rates by Age, Gender, and Tobacco Use
AgeMale Non-Smoker Average Monthly RatesFemale Non-Smoker Average Monthly RatesMale Smoker Average Monthly RatesFemale Smoker Average Monthly Rates
25 $12.90$11.33$37.57$30.78
35 $13.53$12.69$47.45$39.11
45 $28.28$23.06$107.09$80.15
55 $69.89$52.58$244.10$179.76
65 $207.36$153.90$553.55$432.20
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As you can see, rates go up with age and increase exorbitantly when it comes to tobacco use.

For example, a woman in her mid-40s can expect to pay around $25 per month for an AIG life insurance premium. If that woman is a smoker, her monthly insurance premium more than triples.

This is why it is very important to consider all of the factors a company examines when searching for life insurance coverage. And also why it’s a good idea to stop smoking to lower your rates.

Comparatively, sample rates for annual premiums with Lincoln Financial are below.

Lincoln Financial Average Annual Life Insurance Rates by Gender, Marital Status, and Age
Age, Gender, Marital StatusLincoln
Life Insurance
Life Insurance
25, Single (Female)$187.00$164.50
35, Married (Female)$191.00$170.47
45, Married (Female)$239.00$247.50
55, Married (Female)$435.00$417.01
65, Single (Female)$903.00$898.76
25, Single (Male)$231.00$183.61
35, Married (Male)$238.00$190.04
45, Married (Male)$283.00$274.59
55, Married (Male)$615.00$543.23
65, Single (Male)$1,577.00$1,308.00
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When it comes to affordable AIG vs. Lincoln life insurance, there is a clear winner. Lincoln insurance offers higher-than-average rates. The company’s rates are certainly higher than AIG’s based on similar factors.

AIG vs. Lincoln: Which company has the better financial rating?

AIG insurance has garnered an A rating from AM Best, a leading company that analyzes the financial standing of countless companies. An A rating suggests that AIG is financially stable and should be fully capable of aiding its policyholders.

Lincoln Financial and its affiliates—including Lincoln Heritage Life Insurance, Lincoln National Life Insurance, and the Lincoln National Life Insurance Company—ranked slightly higher than AIG, earning an A+ rating with AM Best.

This ensures that both companies are a safe bet when considering whether they will be able to uphold your policy and help you, your family members, and your loved ones.

Can I get AIG and Lincoln quotes online?

AIG and Lincoln both have websites that offer many convenient features to policyholders.

On AIG’s website, individuals can make a claim and check the status of a claim, update and add coverage, and speak to a representative for more guidance.

Similarly, Lincoln offers the ability to register for additional life insurance coverage, file a claim, and contact an agent directly.

Neither website offers potential policyholders the opportunity to get a direct quote. If you are interested in either company, you will need to visit their website directly to get more information and see what your potential life insurance rate would be.

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Is AIG or Lincoln better for me?

When you are considering AIG vs. Lincoln Financial for life insurance coverage, you have a lot to think about.

Both companies offer countless products depending on your needs, and both have an excellent rating with AM Best. While AIG’s rates are a bit higher than Lincoln’s, either company may have exactly what you need when you factor in add-ons.

It is up to you to decide what type of policy you want, what type of coverage you need, and whether you will include annuities or add-ons to your plan. One of the best ways to decide on the exact plan you need is to shop around for coverage.

Before you settle on AIG vs. Lincoln life insurance, compare rates and options from other companies using our free tool below.

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