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What is Whole Life Insurance?

Most things in life come with an expiration date — from groceries to coupons and even certain types of life insurance. But there's one exception to that rule: a whole life insurance policy. Whole life insurance covers you for as long as you live, at a locked-in rate that won't increase as you age or if your health status changes. It may also build “cash value” over time, which is money that gets set aside with each payment you make, like a nest egg for the future.

Ready to get started? Get a free, instant quote today. Or read on to learn why whole life insurance may be just what you need.

How Much Does Whole Life Insurance Cost?

Like most other life insurance products, the cost of whole life insurance is determined by age, health, lifestyle, and other factors that contribute to your placement into what life insurers call a "rate class". In order to determine the exact amount you'll pay for coverage, you'll have to answer a series of questions before receiving a quote.

Whole Life Insurance Premiums

One advantage of whole life insurance policies is that they offer fixed premium rates and death benefits. That means that from the time of purchase to the end of the policy, your premium payments and death benefit should remain locked in place (so long as you make your premium payments on schedule, and haven't taken out any cash value). Your predictable, fixed-rate premium payments can be made on a monthly, quarterly, semi-annual, or annual basis as agreed upon by you and the insurer you choose. You can also work with an agent to create a customized a premium payment plan that works for your budget.

For some, it's the fixed premiums; for others the cash value attracts them to whole life insurance. But, if you're over 50, 60, or 70 years old there may be another reason to consider whole life insurance from AIG Direct. A commonly chosen type of whole life insurance called Guaranteed Issue Whole Life insurance (GIWL), offers guaranteed issue coverage up to $25k with no medical exam required. Because of its accessibility, GIWL is often chosen by seniors. Also known as "Senior Life" or "Burial Insurance" beneficiaries can use the proceeds to help cover final medical and burial expenses.

How Does Whole Life Insurance Work?

Get Coverage for your entire life
Get fixed payments that remain the same, even as you get older or your health declines
Accrues cash values or dividends, depending on the policy
Allows you to borrow against the cash value, often at a favorable rates

How to Apply for Whole Life Insurance

Get started today by requesting a quote. One of our licensed agents will be happy to answer your questions and work with you to find the right whole life insurance policy for you and your family.

Hear from Our Customers Who Purchased Whole Life Insurance through AIG Direct

5 Stars
5 Stars - Great Life Insurance Coverage
Excellent Insurance Experience
It was very easy to talk to the rep & his knowledge was great!
May 31, 2023
5 Stars
5 Stars - Great Life Insurance Coverage
Great Customer Service
Took several minutes to purchase a new policy. Agent was professional and answered my guestions confidently.
May 3, 2023
5 Stars
5 Stars - Great Life Insurance Coverage
Best Whole Life Insurance
I had a term life insurance policy which had come to term, I replaced it with a whole life policy. Very easy to do!
May 25, 2023
Read more of what our customers have to say and see their Life Insurance Customer Satisfaction Scores.

The endorsements/testimonials presented should not be construed as a recommendation to purchase, or an indication of the value of any product or service. The testimonials are actual AIG Direct customers who are not affiliated with AIG Direct and were not provided compensation.