AIU Insurance Company Review

AIU Insurance Company at a Glance

  • AIU is licensed in 48 states as well as the District of Columbia; they do not sell policies in Hawaii or Wyoming
  • Today it operates under the umbrella of insurance giant American International Group, or AIG
  • AIG Life and Non-Life financial strength ratings from AM Best are A (excellent)
  • AIU does not maintain its own website; information can be found on the AIG website
  • AIU Insurance Company offers dozens of products for both businesses and individuals
  • AIU health insurance policies are sold to employers, business trade groups, and other organizations
  • AIU also provides several insurance lines to individuals including auto, accident, home and property, travel, and specialty insurance products
  • Uses network of independent insurance agents on a limited basis
  • AIG is one of the biggest insurers in the world, serving millions of customers in more than 80 countries
  • AIG offers term, whole, and universal life insurance to individuals
  • The company also offers a range of insurance and investment products to businesses.

AIU Insurance Pros: Financially stable parent company, AIG. Offers a variety of insurance solutions to individuals and businesses. Online claims reporting, bill pay, and other customer service options. 

AIU Insurance Cons: The company has no online presence at all. All products and services are now under the AIG umbrella. Individual insurance offerings are somewhat limited; property and casualty policies only for the company’s Private Client Groups. Company history is riddled with ownership and branding changes. AIG was one of the beneficiaries of the 2008 bailout of institutions that were deemed "too big to fail." The insurance giant was among many that gambled on collateralized debt obligations and lost. AIG survived the financial crisis and repaid its massive debt to US taxpayers, but its reputation has been harmed immensely.

What Type of Insurance Does AIU Insurance Company Offer?

AIU (under the AIG umbrella) offers a selection of insurance products for individuals and families, and for businesses.

For individuals and families:

  • Life insurance (term, universal, guaranteed issue whole life)
  • Travel insurance
  • Personal accident and health insurance
  • Private Client Groups segment for wealthy clients includes policies for high-end properties, private collections, excess liability insurance, luxury vehicles, and yachts

For businesses:

  • Accident and health insurance
  • Cyber insurance
  • Property insurance
  • Environmental insurance
  • Management liability insurance
  • Kidnap and ransom
  • Surplus lines coverage

This list of insurance products available from AIU Insurance is not exhaustive. Your independent insurance agent can help you decide if AIU has the type of coverage that best fits your needs.

What to Know about AIU Insurance Company

AIU Insurance Company provides accident, casualty, health, marine, and property insurance products. Founded in 1851, AIU was originally known as American International Insurance Company; they adopted the new name in late 1976. It is now part of insurance giant AIG’s corporate umbrella.

Little information about AIU specifically appears online, and the company no longer operates its own website. All information is found on AIG’s website.

We do know that AIU is licensed in 48 states as well as the District of Columbia; they do not sell policies in Hawaii or Wyoming. AIU Insurance Company offers dozens of products for both businesses and individuals. AIU health insurance policies are sold to employers, business trade groups, and other organizations. The carrier also provides several insurance lines to individuals including auto, accident, home and property, travel, and specialty insurance products.

AIG is one of the biggest insurers in the world, serving millions of customers in more than 80 countries. AIG offers term, whole, and universal life insurance to individuals.

The company also offers a range of insurance and investment products to businesses.

AIG has earned A (excellent) ratings from AM Best for both its Life and Non-Life business units. AIG Life and Non-Life financial strength ratings from AM Best are A (excellent). AM Best is a credit rating firm that assesses the creditworthiness of and/or reports on over 16,000 insurance companies worldwide. The AM Best rating points to the insurance company’s ability to pay claims, debts, and other financial obligations in a timely manner. Customers can expect that AIG has the necessary cash reserves to pay out claims, an essential factor in evaluating any insurance company before purchasing a policy.

What Discounts Does AIU Offer?

AIU does not make information about its specific discounts or reward programs readily available.

An independent insurance agent can help you find more information about exact discounts and other ways to save with AIU, as well as provide you with quotes and help answer any other questions you may have. 

AIU Insurance Customer Service

Precise customer service hours are not made available on the company’s official website, but phone, email, and online contact options are available. Customers can contact AIU Insurance in the following ways.

  • Life insurance customers can pay their bill, check payment status, update their address, change beneficiaries, and securely message online with AIU’s eService option
  • Catastrophic and non-catastrophic property claims can be made via your insurance agent or 24/7 online
  • Numerous phone, online, text, and email contacts available depending on program and type of service needed
  • Claims can be initiated online via online form, by phone, or with a downloadable form, depending on the program and type of claim
  • Phone contact hours restrictions are not provided


Hours 


Monday-FridayUnknown


SaturdayUnknown


SundayUnknown

The easiest way to handle your customer service needs is by working with your independent insurance agent. These agents help make customer service easier for you by handling claims and other concerns.

AIU Insurance FAQ

What is AIU’s average claim response time frame?

AIG has numerous claims processes depending on the product and type of claim. The carrier promises that certain life insurance claims (those with benefits under $15,000) may be eligible for expedited processing. This means that a member of the claims team will contact the beneficiary within 24 hours to authenticate his or her identity and expedite the claim. In these cases, payment by check is sent within five business days after the company receives proof of death.

For individual life insurance claims where the total benefit amount is greater than $15,000, a claims packet will be sent to all beneficiaries within five business days of the initial notification. For most claims, the company will review and process the claim within five business days once all requirements are received in good order. Please note that some claims require an investigation so may take longer to review. Payment is made according to the instructions provided by the beneficiary. The beneficiaries should allow three to five days mailing time to receive checks. Missing or incomplete information may delay processing, but beneficiaries will be notified within five business days of any outstanding issues.

What is AIU’s customer service availability?

Precise customer service hours are not made available on the company’s official website, but phone, email, and online contact options are available. Customers can contact AIU Insurance in the following online, by phone, and via email and text. Numerous contacts are made available, depending on the specific program or policy and the type of service that is needed. Claims can be initiated online via online form, by phone, or with a downloadable form, depending on the program and type of claim. The company encourages policyholders to seek out service first via their independent insurance agent or local representative.

What is AIU’s claims process?

The claims process depends on the type of insurance product and the type of claimant. Some claims can be reported online, while others require a downloadable form or a phone call to the insurance company. Most policyholders are encouraged to first call their insurance agent or local representative to start the claims process.

Does AIU Insurance create a user-friendly experience for customers?

AIU’s online presence is entirely via the AIG official website. The website is clear, concise, and easy to navigate, although there are a lot of instructions and forms for each product line, making finding service and claims information a little frustrating. The carrier allows customers to initiate the claims process online or download all of the pertinent forms depending on the product. Customer service is available by phone but hours of service are not publicized.

Does AIU have good life insurance?

AIG offers a range of term and permanent life insurance products. You can buy policies through AIG Direct, a subsidiary of AIG, or through an independent insurance agent. The company offers two term life insurance options and several permanent life insurance options.  

The carrier offers the following types of permanent life insurance which can accumulate cash value.

  • Guaranteed issue whole life: Coverage ranging from $5,000 to $25,000 for applicants ages 50 to 80. Guaranteed issue life insurance doesn’t require a medical exam or health questions to qualify for coverage.
  • Universal life: Includes guaranteed universal life and indexed universal life insurance policies
  • Variable universal life: Provides the opportunity to build cash value through investments.

You can learn more about AIU’s life insurance options with the help of your independent insurance agent.

Is AIU a good insurance company?

AIU as an entity is currently virtually non-existent. But its products are now sold through insurance giant AIG. AIG is financially stable and offers numerous products for individuals and businesses. But the company does have some baggage because of its bailout by the federal government in 2008. While the company has paid its debts to US taxpayers—a development that lead to its absorption of AIU and other subsidiaries—the stain of the historical bailouts has not completely disappeared. All in all, AIU/AIG can be considered to be a good insurance company.

AIU Customer Reviews

Online reviews are non-existent for AIU. The following reviews are for AIG. 

Consumer Affairs
“I had been meaning to obtain life insurance for my wife and I for quite some time. Did some research and for our particular needs/situation AIG was suitable. They even sent someone to our home to conduct the medical portion, which was a few questions and a blood draw. See no real reason to change.”


Consumer Affairs
“They are very helpful and do most of the hard work. They are a good hardworking company and listen to what you want and need. They don't try to talk you into stuff you don't want or need.”


Clearsurance
“We have had a great experience with AIG. They have competitive rates and exceptional customer service.”


Clearsurance
“I did not have a good experience with the company. When it comes time to make a claim they are slow, do not listen to their customers, and it was difficult to get a settlement.”


Yelp
“Not recommended. Great plans but customer service is the absolute worst. Extremely difficult and time consuming to deal with.”


TrustedChoice.com's Final Review

We award AIU Insurance a final rating of 3.5 out of 5 stars. To begin with, AIU has been absorbed and rebranded into AIG, one of the largest insurance companies in the world. While AIU has good financial ratings from AM Best, which speak to its strength and stability as an organization, the company suffered some reputational harm when it received a bailout from the federal government n 2008.

While AIU as an entity is non-existent, the AIG website offers a wide variety of information. Many types of claims can be initiated online, and customers have numerous customer service options depending on their needs. Policyholders report both positive and negative experiences with AIG. Negative reviews are particularly in the areas of customer service and claims processing.

AIG works with independent insurance agents, which makes obtaining customer service and claims help easier. We recommend looking into coverage from AIG if you need the types of coverage that it offers. With the help of your independent insurance agent, you can determine if it is the right carrier for your individual or business insurance needs.

What’s more, you can use our company directory to find the best insurance companies to meet your needs. Our carrier directory will help you locate companies that specialize in your specific coverage needs and get connected to an agent near you.

Share this page on Twitter Share this page on Facebook Share this page on LinkedIn

©2021, Consumer Agent Portal, LLC. All rights reserved.

https://www.aig.com

https://www.consumeraffairs.com

https://www.clearsurance.com

https://www.yelp.com