Care Cover with Whole of Life Insurance
AIG’s Care Cover with Whole of Life Insurance helps your clients make financial provisions for care in later life.
People increasingly require care to maintain some quality of life as they get older, which can be expensive. This product will pay out 75% of the sum assured to allow your clients to access the care they need if they meet the plan’s criteria.
If they pass away or are diagnosed with a terminal illness without needing that level of care, the policy will pay out the full sum assured. Only one payment will be made under Care Cover with Whole of Life Insurance (for care cover or death/terminal illness), and once it is made, the policy will end.
Why choose AIG
Care Cover Benefit
The insurance will pay a maximum of £300,000 for Care Cover Benefit. Clients can increase their sum assured until their 71st birthday, but the Care Cover Benefit cannot exceed £300,000. The Care Cover Benefit is not available as a standalone benefit and must incorporate the life cover.
Whole of Life Insurance
Whole of Life Insurance is also available without Care Cover - to find out more about whether this could be the right option for your clients, head to our dedicated product page.
Inheritance tax or legacy
As our Whole of Life Insurance doesn’t have a term, it can be suitable for dealing with the impact of IHT on the value of your clients’ estates. This option could also help your clients leave a legacy for their families or contribute towards their funeral costs.
Writing your client's policy into trust
Your clients are able to write their policies into trust, and we provide adaptable specimen trust documents for use. Making this legal arrangement could ensure that money paid out for a claim goes straight to the people they want to benefit from the trust. It also could allow a quicker death claim payment compared to a policy not in trust and could mitigate Inheritance Tax liabilities.
We cannot advise on whether putting any particular policy into trust would be suitable for your client’s particular circumstances and would recommend that they take professional legal and tax advice. For more information, read our guide to explain how trusts work for AIG’s insurance policies.
We give your clients access to Best Doctors for invaluable second medical opinions. Their knowledge helps your clients and their immediate family get the right diagnosis, treatment and care.
Our Claims Support Fund
We offer a discretionary fund of up to £300 towards services such as travel costs and wigs after cancer treatment - all to help your client and their family cope with a serious illness.
Waiver of Premium
For just a small additional amount, your clients can include Waiver of Premium if they are aged 54 or younger at policy inception. With this, we will cover their premiums if they can’t work due to injury or illness. This helps your clients stay insured if they become too ill to work.
From on-demand consultations with UK based GPs to second medical opinions from Best Doctors®, our Smart Health service is a convenient way to connect your clients to tools that help them manage their health and wellbeing. It’s available 24/7, 365 days a year, anywhere in the world and can also be used by their partners and children up to age 21, all at no additional cost.
Smart Health is provided to AIG Life Limited customers by Teladoc Health.
Smart Health and Best Doctors are non-contractual benefits, meaning they don’t form part of an insurance contract with us. The services can be withdrawn at any time without notice.
Waiver of Premium is available for clients who purchased their policy when aged 54 and below. This cover ends when the person reaches their 70th birthday.
Literature and support materials
Care Cover with Whole of Life - Key Facts
This document describes what is covered by Care Cover with Whole of Life Insurance, who can buy it and how it works.