Cancel Your AIG Life Insurance Policy Online or by Phone

If you're looking to cancel your AIG life insurance policy, you can go online, call, or write a letter. You won't get a refund for canceling your AIG life insurance policy unless it's within the first 30 days. It might be better to change or convert your AIG life insurance policy instead of canceling.

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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

  • Canceling AIG life insurance is easy and hassle-free via company login, phone, or mail
  • You will only receive a refund on AIG life insurance if you have paid in advance or if you’re within the first 30 days of your policy
  • It may be preferable to convert your policy or change your policy details instead of canceling

Purchasing a life insurance policy is a big commitment and can mean payments for a long time. Even with the most affordable types of term life insurance, you may reach a point where you want to cancel your AIG life insurance policy.

We’ll provide you a few tips on managing your life insurance policy, important information about your life insurance policy, and how to cancel AIG life insurance.

If you think you’re paying too much and want to cancel your AIG life insurance policy, consider shopping for other options. Get personalized quotes in minutes using our free quote tool above.

How do I cancel my AIG life insurance policy?

Canceling an AIG life insurance policy isn’t very difficult. No matter what type of life insurance policy you have with AIG, you can cancel at practically any time.

For most of AIG’s policies, you can be refunded if you cancel within 30 days of purchasing the policy. If you just purchased a policy and got a better quote, it wouldn’t be too late to switch to a new company.

After 30 days, you can cancel your AIG life insurance policy at your convenience with ties to your payment date. You pay for your policy in advance and you wouldn’t be refunded for the current month.

For example, if you paid on March 15th, your policy would remain in effect until April 14th and you shouldn’t expect to be refunded unless you paid for the entire year in full.

In that case, you would get a prorated refund to account for April 14th until the end of the year. To get started, you’ll need to know how to cancel a life insurance policy.

You should be able to manage your policy and initiate a cancellation online, via letter, or by calling AIG customer service. You can use your AIG account login to handle most management tasks.

Ready to compare quick life insurance quotes?

Your life insurance quotes are always free.

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To cancel your life insurance policy with a letter, be sure to include your policy number and any other important information. 

If you do decide to cancel your life insurance policy, there aren’t any major penalties other than not having a death benefit available. Even if you have a permanent life insurance policy, all of the cash value should be returned to you.

What if I want to change or convert my AIG life insurance policy?

Some life insurance policies can be converted with AIG. In most cases, this means converting term to permanent life insurance. If you wanted to build cash value, this could be a more effective option.

AIG does offer both whole and universal life insurance, so you should have options when converting your AIG life insurance policy. If you want to change your policy details with AIG, you’ll want to call customer service.

Perhaps your payments are too high and you still want a life insurance policy. Changing the term life insurance coverage amount or term length could change how much you’ll pay per month.

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
Get Your Rates Quote Now

Compare RatesStart Now →

A life insurance policy with a shorter term length could cost less each month. On the negative side, you may have to undergo the underwriting process again which would mean that you could pay more if you’ve aged or your health status has changed.

What could cause the cancellation of my AIG life insurance policy?

AIG and virtually every other life insurance provider will cancel your life insurance policy if you miss payments. AIG is flexible for up to six months after missing a payment in which you can restart a policy.

According to the National Association of Insurance Commissioners (NAIC), fraudulent information could cause your life insurance policy to be canceled.

For example, if you told your underwriter you were a teacher but you worked on power lines, that’s significant. There are specific rules as to how life insurance pricing works, and your occupation can be a big part of that.

Your life insurance quotes are always free.

 Secured with SHA-256 Encryption

Cancel Your AIG Life Insurance Policy: The Bottom Line

Life insurance policies may seem like an unmanageable expense at times. If life insurance gets too expensive, you may want to cancel, convert, or change your life insurance policy details.

Before you cancel your AIG life insurance policy, see if you can get better rates. Enter your ZIP code to get free quotes from local insurance providers today.

[s_box title=”Quick Facts” style=”default”]

  • Canceling AIG life insurance is easy and hassle-free via company login, phone, or mail
  • You will only receive a refund on AIG life insurance if you have paid in advance or if you’re within the first 30 days of your policy
  • It may be preferable to convert your policy or change your policy details instead of canceling

[/su_box]

Purchasing a life insurance policy is a big commitment that often takes a while to pay off. Even with the best term life insurance quotes, you may reach a point where you want to cancel your AIG life insurance policy.

We’ll provide you a few tips on managing your life insurance policy, important information about your life insurance policy, and how to cancel AIG life insurance.

If you think you’re paying too much and want to cancel your AIG life insurance policy, consider shopping for other options. Get personalized quotes in minutes using our free quote tool above.

How do I cancel my AIG life insurance policy?

Canceling an AIG life insurance policy isn’t very difficult. No matter what type of life insurance policy you have with AIG, you can cancel at practically any time.

For most of AIG’s policies, you can be refunded if you cancel within 30 days of purchasing the policy. If you just purchased a policy and got a better quote, it wouldn’t be too late to switch to a new company.

After 30 days, you can cancel your AIG life insurance policy at your convenience with ties to your payment date. You pay for your policy in advance and you wouldn’t be refunded for the current month.

For example, if you paid on March 15th, your policy would remain in effect until April 14th and you shouldn’t expect to be refunded unless you paid for the entire year in full.

In that case, you would get a prorated refund to account for April 14th until the end of the year. To get started, you’ll need to know how to cancel a life insurance policy.

You should be able to manage your policy and initiate a cancellation online, via letter, or by calling AIG customer service. You can use your AIG account login to handle most management tasks.

Ready to compare quick life insurance quotes?

Your life insurance quotes are always free.

 Secured with SHA-256 Encryption

To cancel your life insurance policy with a letter, be sure to include your policy number and any other important information. What happens if I cancel my life insurance?

If you do decide to cancel your life insurance policy, there aren’t any major penalties other than not having a death benefit available. Even if you have a permanent life insurance policy, all cash value should be returned to you.

What if I want to change or convert my life insurance policy?

Some life insurance policies can be converted with AIG. In most cases, this means converting from term life insurance to permanent. If you wanted to build cash value, this could be a more effective option.

AIG does offer both whole and universal life insurance, so you should have options when converting your AIG life insurance policy. If you want to change your policy details with AIG, you’ll want to call customer service.

Perhaps your payments are too high and you still want a life insurance policy. Changing the term life insurance coverage amount or term length could change how much you’ll pay per month.

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
Get Your Rates Quote Now

Compare RatesStart Now →

A life insurance policy with a shorter term length could be less per month. On the negative side, you may have to undergo the underwriting process again which would mean that you could pay more if you’ve aged.

What could cause cancellation of my life insurance policy?

AIG and virtually every other life insurance provider will cancel your life insurance policy if you miss payments. AIG is flexible for up to six months after missing a payment in which you can restart a policy.

According to the National Association of Insurance Commissioners (NAIC), fraudulent information could cause your life insurance policy to be canceled.

For example, if you told your underwriter you were a teacher but you worked on power lines, that’s significant. Some customers know how term life insurance pricing works, and jobs can be a big part of that.

Cancel Your AIG Life Insurance Policy: The Bottom Line

Life insurance policies may seem like an added expense at times. If life insurance gets too expensive, you may want to cancel, convert, or change your life insurance policy details.

Before you cancel your AIG life insurance policy, see if you can get better rates. Enter your ZIP code to get free quotes from local insurance providers today.

Ready to compare quick life insurance quotes?

Your life insurance quotes are always free.

 Secured with SHA-256 Encryption

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