About critical illness
Oh - go on then. Tell me about critical illness insurance.
Okay, so here's the lowdown.
Critical illness cover (AKA critical illness insurance) is financial protection that’s ready and waiting if anything goes seriously wrong with your health.
Already know all this? Let’s not waste your time then. Fast forward to see what makes our award-winning cover a lot more flexible.
Want to get to grips with the basics?
Okay, so you could call critical illness cover Make-sure-I-have-enough-to-get-by-if-I-fall-really-ill cover. Or Focus-on-my-recovery insurance.
A critical illness payment has no restrictions on how you use it. Pay off debts? Remodel your home? Take the kids to Disneyland? Go on that anniversary cruise? It’s your money. You decide what you spend it on. Oh and by the way – it pays out regardless of whether you’re able to work or not.
How does it work?
Let’s say you get seriously ill and need to claim. Being ill might mean you can’t look after the kids or take your mum shopping, that kind of thing. If we’re happy, you’ll get a tax-free lump sum to remove the financial worry so you can focus on getting better.
Like any other insurance, you pay a monthly or annual premium. How much depends on the size of the lump sum you want to receivehow long you want your cover to last and things like your age and lifestyle.
Excuse – Insurance companies never pay out.
Do you know the main reason insurance companies don’t pay out? Because the claimants haven’t included all the relevant information on their application or the illness isn’t covered1? And we bet you didn’t know AIG Life pays out 98% of critical illness claims2.
2 AIG claims statistics, 2021
Excuse – Too pricey for me I’m afraid.
Over 91% of claims1 are actually paid out so you’re likely to be paid out if you need it. One thing you can be sure of is the price of not having cover if you end up needing it will far outweigh the cost of playing it safe and getting that cover in place.
When do I buy it?
Well to be honest, any time is a good time to make sure you’ll manage if you fall really ill. But if you’re entering a marriage or civil partnership, buying a house or planning a family, then that reassurance is probably even more valuable.
I bet there’s a catch.
AIG isn’t like that. Let us show you why.