AIG vs. Nationwide: Best Life Insurance Company in 2021

AIG vs. Nationwide life insurance rates show that AIG consistently offers cheaper life insurance. On the other hand, the AIG vs. Nationwide ratings suggest that Nationwide is preferred for customer satisfaction. The AIG and Nationwide financial ratings are comparable with each company boasting an A or A+ rating through A.M. Best.

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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 vs. Nationwide financial strength ratings are similar between agencies like A.M. Best, Moody’s, and S&P
  • AIG tends to offer cheaper life insurance rates when compared to Nationwide
  • Nationwide appears to have stronger customer rapport than AIG according to J.D. Power and the Better Business Bureau

If you’re looking for term life insurance quotes from the best life insurance companies, it might be worthwhile to compare AIG vs. Nationwide insurance. Each company is well-known in the insurance industry.

There are a number of factors to consider when comparing life insurance companies. To make matters easier, we’ll provide a comparison of the life insurance rates, ratings, and any discounts offered by AIG and Nationwide.

By the end of this article, you should have a better idea of who you consider the stronger life insurance provider.

Before jumping into this AIG vs. Nationwide life insurance review, get instant quotes from top life insurance companies using our free quote tool above.

AIG vs. Nationwide: Which life insurance company is better?

AIG and Nationwide are both well-known brands. Nationwide claims to be “on your side” while AIG is an international brand that sponsors many sports teams, including the All Blacks rugby team from New Zealand.

With each company, you’ll find an assortment of insurance products that could be useful to you and your family. For example, there’s AIG travel insurance, AIG health insurance, Nationwide mutual funds, and much more.

AIG and Nationwide retirement solutions are also available beyond life insurance, which could be of value to anyone considering retirement. Both companies have been operating for roughly 100 years.

Since both companies have operated for many years, branded well, and are readily available, it’s important to consider other factors like life insurance rates and ratings. Which insurance company is best for life insurance?

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AIG vs. Nationwide: Which company has better life insurance rates?

Shopping for life insurance can be tricky because there are numerous policy types, term lengths, coverage amounts, and so on. In general, there can be some significant differences in rates from person to person and company to company.

Read the table below to compare affordable AIG vs. Nationwide life insurance.

Sample AIG Life Insurance Average Monthly Rates by Age, Gender, and Coverage
Gender and CoverageAge 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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Above you’ll see how AIG, like most others, adjusts its life insurance premiums for different populations.

For example, males tend to pay a good bit more than females for the same policy coverage amount and term length. This is one of the many factors that determine your life insurance rates.

Does this make you wonder, how is my term life insurance rate determined? Age and health factors play a major role.

Sample Nationwide Life Insurance AVvRates by Age, Gender, and Coverage
Gender and Coverage Age 25 Average Monthly RatesAge 35 Average Monthly RatesAge 45 Average Monthly RatesAge 55 Average Monthly Rates
$100,000: 20-Year Term (Male)$13.71$14.60$20.65$49.57
$100,000: 20-Year Term (Female)$12.99$13.97$17.18$39.07
$250,000: 20-Year Term (Male)$23.59$16.02$35.16$80.77
$250,000: 20-Year Term (Female)$19.58$15.35$27.59$68.09
$500,000: 20-Year Term (Male)$36.94$25.37$52.07$125.94
$500,000: 20-Year Term (Female)$28.48$22.25$40.94$94.34
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Nationwide life insurance rates follow the same overall trends as AIG. It’s standard in the life insurance industry for companies to increase prices for males, older adults, and for longer term lengths. This is to cover added risk.

Average AIG vs. Nationwide Average Monthly Life Insurance Rates by Age, Gender, and Term Length for $250,000
Age and Gender10-Year Term (AIG) Average Monthly Rates10-Year Term (Nationwide) Average Monthly Rates20-Year Term (AIG) Average Monthly Rates20-Year Term (Nationwide) Average Monthly Rates30-Year Term (AIG) Average Monthly Rates30-Year Term (Nationwide) Average Monthly Rates
25 - Male$10.34$18.91$12.90$23.59$18.94$24.03
25 - Female$9.57$17.58$11.33$19.58$15.49$20.69
35 - Male$11.67$14.69$13.53$16.02$21.08$26.26
35 - Female$11.08$14.69$12.69$15.35$18.89$23.14
45 - Male$17.95$22.70$28.28$35.16$46.47$53.40
45 - Female$16.46$22.03$23.06$27.59$38.98$37.16
55 - Male$41.68$54.51$69.89$80.77$132.37N/A
55 - Female $31.68$43.83$52.58$68.09$107.73$105.69
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As you compare AIG vs.Nationwide insurance rates above, you’ll notice that Nationwide is a bit more expensive than AIG overall. Males will notice the largest price difference between AIG and Nationwide.

Nationwide does seem to place less of an emphasis on age and policy length. A 45-year-old female with a 30-year, $250,000 policy is actually cheaper with Nationwide compared to AIG. This is a rare exception.

Overall, it’s safe to say that you can expect to see a reasonable difference between the AIG vs. Nationwide life insurance quotes with AIG being the cheaper of the two options.

AIG vs. Nationwide: Which has better ratings?

In this particular case, AIG seems to be consistently cheaper than Nationwide. However, there are some potential causes that could change the cheaper AIG vs. Nationwide rates.

Life insurance companies vary prices based on other factors like your health status, occupation, hobbies, and more. How would you choose between two companies if they both gave you the same quote?

You would want to consider each company’s reviews and financial strength ratings. These ratings can help you decide if there is a hidden reason for cheap rates. Is AIG a good life insurance company?

Ratings Comparison for AIG vs. Nationwide
Ratings AgencyAIG RatingNationwide Rating
A.M. BestAA+
Better Business Bureau (BBB)FA+
Fitch's RatingsA+A
J.D. Power742803
Moody'sA2A3
Standard & Poor's (S&P)A+AA-
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The AIG vs. Nationwide financial strength ratings go back and forth between major agencies. A.M. Best awarded Nationwide a higher financial strength rating while the AIG financial strength rating with Moody’s is higher.

What stands out overall are the Better Business Bureau (BBB) and J.D. Power ratings. These ratings are more about customer satisfaction than financial strength.

In short, Nationwide ranks much higher than AIG for customer satisfaction, according to J.D. Power and the BBB. In fact, the report conducted by J.D. Power rates Nationwide as a top-three life insurance provider while AIG remains below the industry average.

What are the top 10 life insurance companies in the U.S.? This is a loaded question considered the different types of life insurance, but the J.D. Power rankings include companies like State Farm, Nationwide, MetLife, and more.

AIG vs. Nationwide: What discounts or benefits are offered?

So far in our AIG vs. Nationwide comparison we’ve noted that each company has been stronger in different areas. AIG is typically cheaper while Nationwide tends to have better customer satisfaction.

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In most cases, life insurance companies don’t offer many discounts. Some companies have created health incentives or wellness discounts, but it doesn’t appear that AIG or Nationwide does.

Other companies will offer an assortment of benefits, often through partnerships, that are exclusive to life insurance customers. In this case, neither AIG nor Nationwide offers such benefits.

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AIG vs. Nationwide: What are the pros and cons?

Who is the number 1 life insurance company between AIG vs. Nationwide? So far, each company has shown to be strong in different areas. The better company will be the one that suits your needs, whether it be price or customer service.

We’ve covered quite a bit of information in this review, so here we’ll break down key considerations when shopping for AIG insurance vs. Nationwide insurance.

Pros

  • Strong Financial Ratings (Both Companies)
  • Great Rates (AIG)
  • Great Customer Service Ratings (Nationwide)

Cons

  • No Discounts (Both Companies)
  • Subpar Customer Satisfaction (AIG)
  • More Expensive Rates (Nationwide)

Operating for approximately 100 years, both AIG and Nationwide appear to be on a path toward continued success.

AIG vs. Nationwide: The Bottom Line

You’ve reached the end of this article — so, should you buy AIG vs. Nationwide life insurance?

There are very few concerns surrounding AIG or Nationwide insurance companies. If your bottom line for choosing insurance is price, AIG might be the better option. Nationwide might be better if you prefer strong customer service.

As you can see, choosing between AIG vs. Nationwide can be challenging since each company offers different incentives. Get a jump-start shopping for life insurance with instant rates from top providers using our free quote tool below.

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