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Expert COMPANY reviewS
Matrix Direct LIFE INSURANCE REVIEW
Reviewed by: Chris Lalor | Last Modified: 05/25/2021
Overview: Matrix Direct Life Insurance, now AIG Direct, is a life insurance company offering coverage through American General Life Insurance and The United States Life Insurance Company in the City of New York. One of the first to offer direct-to-consumer life insurance products, the company offers several options for life insurance plus travel insurance, retirement plans and personal and business insurance products for high-income earners. Most policies require a medical exam, but certain term and whole life products can be purchased without one.
Here’s What You Need to Know About Matrix Life Insurance
Offering a full line of life insurance products, Matrix Life Insurance has a product for almost everyone. Whether you need term or permanent life insurance, or a mix of both, Matrix Insurance can help you complete your estate plan.
How is Matrix Direct Life Insurance Different?
Matrix Direct was one of the first life insurance companies to offer direct-to-consumer life insurance in 1995. Now owned by AIG Direct, Matrix offers several life insurance products to fit most needs for coverage.
What types of insurance can you purchase from matrix Direct Insurance?
Matrix Direct offers life insurance, travel insurance, and several retirement plan options. For high-income earners, AIG offers home and business insurance policies through a separate network, AIG Private Client Group.
Life Insurance Products Offered through Matrix Life Insurance:
Matrix Direct offers matrix term life insurance, matrix universal life insurance, and matrix whole life insurance products. You can also purchase Matrix accidental death & dismemberment (AD&D) insurance to provide additional coverage for accidental death. There is also an assortment of life insurance riders you can add to your Matrix Direct life insurance policy.
Did you know?
Insurance companies are NOT all the same. Some are more lenient on certain health issues, some focus on a no-hassle application without an exam, some are financially stronger than others, and their pricing varies a LOT! Get 2 to 3 quotes for best results!
WHAT POLICIES DOES Matrix Life Insurance OFFER?
Matrix Direct Life Insurance, now AIG Direct, offers several options for life insurance:
- Matrix Direct Term life insurance
- Quality of life insurance (Matrix term life insurance with an accelerated death benefit rider)
- Matrix Direct Whole life insurance
- Guaranteed issue Matrix whole life insurance
- Matrix Direct Universal life insurance (indexed, guaranteed, variable)
- Matrix Accidental death insurance
- Matrix Travel insurance through Travel Guard and Private Client insurance is also available.
a brief history of Matrix direct insurance
The life insurance company began as Matrix Direct Insurance in 1995 as one of the first direct-to-consumer options to quote and buy life insurance. To meet as many applicants' needs as possible, Matrix Direct Insurance formed long-term partnerships with Transamerica, AIG, and Protective Life.
Now the American International Group, Inc., the company formerly known as Matrix Direct provides life insurance products underwritten by American General Life Insurance Company. For New York residents, policies are issued by The United States Life Insurance Company in the City of New York.
Americans are terrible at this one thing...
A recent study found that more than half of Americans overestimate the cost of term life insurance by three times. If you've never gotten a personalized quote or only seen quotes from one company, you likely have no idea how inexpensive life insurance really is!
Matrix Direct Life Insurance Products
Matrix Life Insurance offers up to $10 million in coverage for certain life insurance products, like term and whole life. Guaranteed issue whole life insurance is limited to $25,000 in coverage and is for seniors between the ages of 50 and 80 who won’t qualify for life insurance with a medical exam.
If you prefer flexibility in your coverage and premium payments, universal life insurance may be a better fit. Matrix Direct Life Insurance, now AIG, offers three options: index, guarantee, and variable universal life insurance.
Whether you want to supplement life insurance or get inexpensive, guaranteed coverage for accidental death, you can’t go wrong with an accidental death & dismemberment policy. The policy only pays for accidental death, but is an affordable way to get more life insurance coverage without having to medically qualify.
Matrix Direct Life Insurance coverage details and guidelines
Depending on your personal and family health history, you may not qualify for the best rates with Matrix Direct, or at all. You can review the guidelines for American General Life Insurance to see if this company is the right fit for your life insurance needs.
Who Issues Their Policies?
Policies are issued by either American General Life Insurance Company or The United States Life Insurance Company in the City of New York for New York residents.
How Do I Get An Online Quote Through matrix direct?
Matrix Direct Insurance makes it easy to go online to get a quote for term or guaranteed whole life insurance. If you go to MatrixDirect.com, it will take you to its new home, AIGDirect.com. You can enter a few pieces of information to get a quote:
- Nicotine usage
- Zip code
- Phone number
- Email address
Once you enter your personal information, you’ll be presented with a list of policy options, including coverage amount and term length, if choosing term life insurance.
If you want any other life insurance policy, your information is sent to the company and they will call you to complete the quote.
How do I get a low rate?
The best way to get a low rate with Matrix Direct Insurance is to be under 40-years-old and in great health.
Find Your Perfect Life Insurance Plan!
Click below to search for life insurance by company, coverage amount, and policy type.
WHO is Matrix direct for?
Matrix Direct life insurance products are for people in different age groups and health status. People over 50 can purchase guaranteed issue Matrix whole life insurance or Matrix universal life insurance coverage without the need for a medical exam. Younger applicants can choose from medically underwritten term, whole or universal life insurance products.
Who is the ideal Matrix Direct applicant?
It depends on the product you choose. The ideal term life insurance product is for someone under 40 who does not have health concerns. For whole or universal life insurance, the younger you are, the better your rate will be. If your health is a concern and you’re over 50, you can get guaranteed issue whole life insurance coverage without having to answer health questions, but it will cost more.
Our Favorite Life Insurance Companies
We've worked with and reviewed dozens of companies. Here are our faves.
Ladder Life Insurance
Best for: No-Exam Plans Up to Age 60
Ladder is known for a quick and easy online application with no medical exam required in many cases. They have 10, 20, and 30 year plans. They offer the most coverage without an exam in the industry. Coverage amounts start at $100,000 and go as high as $8 million.
Best for: Lowest Rates or Health Conditions
AIG Direct offers a range of custom term plans up to 35-year term as well as return of premium, and permanent plans that build guaranteed cash value. Their rates will beat just about anyone if you take an exam. They're also terrific if you take medication or have health issues.
Bestow Life Insurance
Best for: Convenient and Simple Plans
Bestow is known for their simple, straight-forward 10, 15, 20, 25 and 30 year term plans up to $1.5 million. They never require a medical exam (ever) and have great rates. Rates start as low as $8 per month.
how to apply for life insurance with Matrix direct?
You can apply for life insurance online or over the phone with Matrix Direct. AIG Direct allows online applications for term and guaranteed issue whole life insurance coverage.
signing up for Matrix direct Life
If you want to sign up online, Matrix Direct through AIG Direct only allows you to apply for term or guaranteed whole life insurance. If you want a medically underwritten life insurance policy, you will have to call 800-294-4544 or 888-775-7068. Once you enter your phone number and email address, a Matrix Direct life insurance representative will call you to provide you quotes and complete the application.
how does the application process with Matrix direct Insurance work?
If you choose term life or guaranteed whole life insurance, you can complete the application process online. If you want another life insurance product, an AIG Direct representative will complete the application over the phone. You will have to provide personal and medical information about your health and lifestyle, including:
- Alcohol or drug abuse
- Driving violations
- Nicotine usage
- Criminal convictions
- Bankruptcy filing
Any of the following health conditions:
- High blood pressure
- High cholesterol
- Lung disorders
- Blood clot
- Heart disease
- If you’ve been diagnosed or exposed to COVID-19
Once the application is complete, you’ll schedule your medical exam and pay for your policy. When we tried to complete the application online, it directed us to call to speak with an agent, even without entering any health or lifestyle issues.
Matrix direct financial strength and bbb ratings
Since Matrix Direct does not issue the life insurance policies directly, it does not have financial ratings. American International Group, Inc. has an A excellent rating with A.M. Best.
American General Life Insurance Company has strong financial ratings, which means it can pay out beneficiary claims if you were to pass away:
- Fitch Ratings: A+
- Moody’s: A2
- Standard & Poor’s: A+
- Better Business Bureau: B-
The United States Life Insurance Company in the City of New York also has an A+ rating with Fitch ratings. The company is not rated with the BBB.
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Matrix Direct reviews and complaints
Though Matrix Direct Reviews, now AIG Direct, has mostly positive reviews on their website, we also checked third-party review sites to determine how customers really feel.
AIG Direct has an excellent rating with Consumers Advocate, awarded 4.9 out of 5 stars but of the 12 customer reviews, most complain about poor customer service and costs of life insurance.
With 398 ratings, Consumer Affairs gives Matrix/AIG Direct 2.7 out of 5 stars. Most reviewers again complain about poor customer service and a long time frame from filing claims to payment.
Similar customer experiences are posted on Trustpilot, giving Matrix/AIG Direct 3.4 out of 5 stars after 72 reviews.
Compare Matrix direct VS New York Life Insurance
Both Matrix Direct Life Insurance vs New York Life Insurance offer several options for life insurance products. All of New York Life’s policies are medically underwritten, but Matrix Direct allows guaranteed issue for whole and universal life for applicants over 50. New York Life issues all its life insurance policies in-house. Both companies offer retirement plan options as well.
How to Compare Companies:
Life insurance companies vary widely in price and policy features they offer. The smartest move is to get quotes from two or three companies and compare the pros & cons of each.
Matrix Direct LIFE Insurance ALTERNATIVES
Matrix Direct Insurance can be picky for people with health concerns, and not everyone qualifies to purchase life insurance online. We compared several companies to Matrix Direct. Many of the following companies have better products and cheaper prices versus Matrix Direct Life Insurance. Some even offer no medical exam policies.
AIG Direct Life Insurance Review
AIG Direct offers online quotes, works with healthy people (plus people in less-than-perfect health), and provides options for coverage you may not find elsewhere.
Banner Life Insurance Review
Banner Life Insurance company is part of Legal & General Group, a London-based multinational financial services company founded in 1836. Banner likes to keep their life insurance offerings simple with just term and universal life insurance.
Bestow Life Insurance Review
Bestow Insurance offers term life insurance for people between the ages of 18 and 60, and in generally good health. You can get coverage online in about 10 minutes starting at $10 a month.
Colonial Life Insurance Review
Colonial Life has one of the oldest reputations in the supplemental benefits industry. They offer life, accident, and illness policies to complement your health insurance plan.
Ethos Life Insurance Review
Ethos is not a life insurance company. They are a licensed producer and third party administrator. Founded in 2017, Ethos has developed an online platform that allows you to apply for life insurance and possibly get instant approval.
Fabric Life Insurance Review
Fabric Life offers affordable life insurance with easy, online quotes and application available 24/7. The company uses algorithms to speed up the underwriting process, with well-qualified applicants getting approved without a medical exam.
Geico Life Insurance Review
GEICO offers life insurance products through its partner, LifeQuotes.com. LifeQuotes.com provides access to dozens of life insurance carriers which makes it easy to get a quote for term, universal or whole life insurance.
Haven Life Insurance Review
Haven Life Insurance Agency, LLC, is a wholly-owned subsidiary of MassMutual and offers an easy and fast online quoting and application process for term life insurance.
Ladder Life Insurance Review
Ladder has developed an online platform that allows you to apply for life insurance and possibly get instant approval. They have teamed up with Fidelity Security Life in 49 states and in New York with Allianz Life Insurance Company of New York.
Leap Life Insurance Review
Leap LIfe uses artificial intelligence (Policy Matching AI) technology to compare your health, habits, and hobbies against life insurance company underwriting guidelines in order to match you with the best possible policy from a company that they represent.
Lemonade Life Insurance Review
Using AI technology and chatbots, Lemonade offers a completely online experience and lightning fast claims processing through its mobile app.
Mutual of Omaha Life Insurance Review
Mutual of Omaha Living Promise Whole Life Insurance has both level and graded benefit plans. Underwriting is simplified issued – and does not require a medical exam.
Nerdwallet Life Insurance Review
When you request a quote from Nerdwallet Life Insurance you will be redirected to another website called Quotacy. Quotacy is backed by Hallett Financial Group, Inc. Hallett Financial Group, Inc is a full service multi-carrier independent insurance brokerage agency.
Pacific Life Insurance Review
Pacific Life is very competitive in the term life insurance and the guaranteed universal life insurance market. Most of the time in the Top 3 when compared to other leading carriers in the life insurance market.
Protective Life Insurance Review
Protective Life's vast number of products which offer some of the most competitive prices in the market is what sets them apart from the competition. For example, they have a competitively priced 35 and 40 year level term that most companies don't offer.
Prudential Life Insurance Review
Prudential Life Insurance is one of the largest life insurance companies in the US. They offer term life and universal life insurance policies that let you add extra features to customize your coverage.
Sagicor Life Insurance Review
Sagicor is a full-service life insurance company, offering term, whole life, and universal life through SagicorNow Accelewriting no medical exam underwriting for qualified applicants.
SelectQuote Life Insurance Review
Since 1985, SelectQuote has saturated the advertising market with multiple TV, radio, & print adds per day. This is the reason they are the #1 direct to consumer insurance agency. BUT....
Transamerica Life Insurance Review
Transamerica Life Insurance Company is a leader in the life insurance industry. They offer a variety of competitively priced life insurance products and riders so you can customize your policy
TruStage Life Insurance Review
TruStage is convenient and is a solid company, but is a lot more expensive compared to other online life insurance providers, limits coverage to $100,000, and only offers 5-year terms.
matrix direct FREQUENTLY ASKED QUESTIONS
- Is Matrix Direct legitimate? Yes! Matrix Direct is NOT a scam. They are reputable and has been in business since 1995. They have helped thousands of people buy their life insurance online.
- Is Matrix Direct reliable enough to provide the best service? Sometimes yes, sometimes no! You will see great reviews on the Matrix Direct website about their own customer service. The flip side is the service is not so good when you read the complaints about Matrix Direct from the Better Business Bureau.
- Does Matrix Direct represent the most reputable life insurance companies? The answer is yes BUT so does every other online life insurance agencies.
- How does Matrix Direct make money? Matrix Direct makes a commission on every insurance policy they sell. This commission is paid by the life insurance company and not the buyer.
- Does Matrix Direct sell different kinds of insurance besides life insurance? Yes they do. According to their website, Matrix Direct sells accidental death and disability insurance.
- What is life expectancy? Life expectancy is the statistical expectation of how long someone will live at birth based on a number of factors such as socioeconomics, demographic, geographic, thermographic, stenographic, idiographic, and historiographics.
Matrix Direct, now AIG Direct, offers several options for life insurance, including term, whole, and universal life insurance. Seniors can apply for up to $25,000 in guaranteed issue whole life insurance without a medical exam. Matrix Direct offers coverage up to $10 million, depending on the age of the applicant. While the company offers competitive rates to healthy individuals, it does struggle with customer service and the length of time to pay out claims.
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