If you have any experience shopping for Term life insurance quotes online, you have probably heard of AIG Direct. First of all, they do many commercials both on television and on the internet and radio. Who exactly is AIG Direct and Matrix Direct and do they offer the low rates they claim? Let’s take a very close look to see.
This blog post will serve as a review for American General life insurance and Matrix Direct both. Finally let’s see exactly what this company is all about. The important fact to remember is purchasing life insurance directly from the company will never save you any money. Rates are always regulated by law for your protection by each and every state.
First all let’s start from the beginning and find out who AIG is.
Here is the word right from our friends at Wikipedia: “American International Group, Inc., also known as AIG, is an American multinational insurance corporation with more than 88 million customers. They are located in 130 countries. As of 2015 AIG companies employed around 65,000 people”. I know for a fact that AIG is a huge insurance related parent company of the American General Insurance Company. They have been around for many years offering many high quality insurance products. AIG is an excellent company and I personally have sold their products for years.
The next questions is what is AIG Direct?
Always remember that AIG Direct is the marketing division of Matrix Direct. This is what you would see on your caller ID during sales calls with them or exchanging email letters. Matrix Direct is owned by the American General insurance company, whose parent company is AIG.
AIG Direct represents a total of nine insurance companies. Seven of these insurance companies offer Term life insurance. If you had a conversation with them they would initially offer you an American General policy. If that did not pan out they would offer you more choices. American General would be the bait they would first use to reel you in. You can read the highya.com AIG Direct review.
Your AIG Direct “Agent”.
I am sure you have used an independent agent before to purchase one the many forms of insurance. If you enjoy using the personalized service of an independent agent, the AIG Direct process with definitely surprise you. Matrix Direct is a very large call center where your “agent” will be speaking from a script on a computer screen. They are under a great deal of stress trying to meet a sales quota to be able to keep their job and then go on to the next call.
At this point in time, you will be just a number to this agent as a result. If you appreciate personalized customer service, you won’t find it here. You will probably want to go back to speaking with an independent agent or broker that appreciates your business. You can again review this portion of the AIG Direct Agent from the Highya review shown above.
Does Matrix Direct offer Instant Online Life Insurance Quotes?
No, they do not, when I ran their system it told me I would have to wait for an agent to call me. “We’ve received your online quote request. A licensed agent will review your information and give you a phone call in a few minutes to discuss the next steps in the process of purchasing term life insurance”. This quoting system of their gives the consumer the idea of immediate life insurance quotes.
To most important concept to remember is life insurance rates are regulated by law!
If you are only going to learn one piece of important information from this article, this is it. Just like all insurance rates, nobody can sell the same life insurance product for more or less than another. The rates are regulated by the individual states department of insurance for your protection as a consumer.
When you see the word Direct in AIG Direct, you are not receiving a special lower premium. All the other agents use the same published rates as any insurance agent in the country. Usually wording like “Direct” is implied to give the consumer the idea they offer special pricing. Nothing could ever be farther than the truth.
An advertisement stating “Save up to 70%” is a form of deception.
Purchasing life insurance is not like purchasing a new Chevrolet or Ford, there are no variations in premiums. A statement that implies you can save up to 70% on your premium in my opinion is misleading to the consumers. A variance of 70% between the highest priced company to the lowest priced company might be true on extreme cases. But in this case, this implication is far fetched and its intention is to mislead the consumer. Our office can find the lowest rates, but it takes hard work on our part. We must strategically choose the most applicable company and negotiate hard to get the best rate class for our client. Like the old saying goes, honesty is the best policy.
Are the American General life insurance rates competitive?
Yes they are, but the best online life insurance rates will vary due to changes in the applicants information. Our office uses over 40 trusted life insurance companies to make sure to receive the lowest possible rates. Every insurance company has a staff of medical underwriters that process applications. The very best life insurance rates will depend on many areas of criteria such as.
- Your Current Age
- Overall Health Condition
- Driving Record
- Credit History
- Prescription Drugs Used
- Height & Weight
- Parents Health History
- Medical Records
- MIB Report Information
- Para-med Exam Results
Your overall health is going to be the most important area of information the carrier will look for. The life insurance company is going to look closely at you health. Health conditions such as high blood pressure, high cholesterol, respiratory illnesses, Diabetes, heart conditions, Cancer or others. If you have any problems we normally run a free medical pre-screen so we don’t have any surprises later.
No company has the lowest rates all the time.
This example shows life insurance rates based on a 25 year old male in the preferred non-tobacco rate class. We will use a $500,000 face amount for 10,20 & 30 year term periods. Let’s see how the companies rank with one another.
10 Year Term Periods
- Protective Life – $200.00
- AIG American General – $214.00
- Minnesota Life – $215.00
- United of Omaha – $217.50
- Foresters – $220.00
- Transamerica – $225.00
20 Year Term Periods
- AIG American General – $304.00
- Banner Life -$307.68
- Lincoln Financial – $309.00
- Protective Life – $310.00
- Transamerica – $310.00
- Assurity Life – $310.00
30 Year Term Periods
- Assurity Life – $400.00
- AIG American General – $454.00
- Banner Life – $454.99
- Transamerica – $455.00
- Foresters – $460.00
- Protective Life – $465.00
What does our office offer that Matrix Direct does not offer?
Our office is not a call center where agents converse with no personalized service and care. We always treat people with respect and absolutely no sales pressure or a pushy attitude. Our goal is to have you move at your own pace and apply only when you are good and ready. Most importantly, we also offer the widest selection of life insurance companies with the best life insurance rates.
This will give us the assurance we can always find the company that offers you the lowest rates possible. When you call our office you can talk to the same person over and over again. There is no need to start a new conversation with a different person all over again. We are professional insurance agents that are going to be around for many years to come.
Our final Summary of AIG Direct and Matrix Direct.
We never had any problems finding lower life insurance quotes for people that just came from AIG Direct’s website. The majority of the people that came to us complained of the pushy nature of their sales people. Including their persistent recommendation to purchase the American General plan designs. As I stated earlier, American Generals rates will not always be the lowest rates due to the specific quoting information.
This is why an agent or broker must use an arsenal of companies to guarantee the lowest rates possible. There is nothing wrong with using AIG Direct. If you are looking for the best customers service and the lowest rates there are others better to choose from.
Our Final Word
Do not hesitate to contact us seven days a week with any questions you may have. We will be glad to answer any questions you have with no cost or obligation. Take a moment to read our about us page and learn more about us and our business. Thank you very much for taking the time to read this blog post. We hope you learned something from it and it makes you a smarter insurance shopper.