Our life insurance is designed to support your family financially when you’re no longer there for them. The cover will pay out after your death, or if you’re diagnosed with a terminal illness. This can be a difficult thing to talk (or even think) about, but it really needs to get sorted.
We make choosing the right plan simple with these four options:
Term insurance is a type of life cover that lasts for a fixed period of time (known as a ‘term’) – the payment will be made all in one go. We protect you against death and terminal illness until the last day of your policy.
Family Income Benefit
Family income benefit is a cost effective way to help your loved ones pay the bills when you are no longer there to help them yourself. It covers you for the same scenarios as our life term insurance, but pays out in monthly instalments instead. It could be a useful option when it comes to things like budgeting.
With Life Start, you’ll be covered for the same scenarios as our life term insurance but we’ll make it easier for you to pay for it. Your premiums (the amount you pay every month) are kept lower at the beginning than standard life cover. These premiums then increase over time. Life Start helps you get insured on a lower budget, but it could eventually cost more than a typical plan, depending on how long you keep the cover for (but we’ll let you know how much your premiums will increase every year). You always have the option to not accept an increase, but if this is the case, the amount you could be paid will be reduced to reflect this. We recommend reviewing your cover every few years to make sure it’s still right for you.
Instant Life Insurance
Instant Life Insurance makes getting insured even quicker. There are fewer questions than usual for this type of cover. In fact, all you need to do is complete an online application that takes around eight minutes - we don’t need any medical evidence either. After you’ve answered the questions and submitted your response, we’ll let you know straight away if we can insure you.
Writing your policy into trust
You can work with a financial adviser to write your policy into trust. There are a couple of options to choose from and making this legal arrangement ensures that money paid out goes straight to the people you want to benefit from it. This could mean a death claim is paid quicker in comparison to a policy not in trust and could help you manage IHT. We can’t advise on whether putting any particular plan into a trust would be suitable for your circumstances - we’d recommend getting some professional legal advice. For more information, read our guide to explain how trusts work for insurance policies.
With AIG, you’ll get access to Best Doctors for invaluable second medical opinions. Their expertise helps you and your family get the right diagnosis, treatment and care.
We understand that your family may need more than financial security. We work with the leading UK charity Winston’s Wish to help bereaved children get specialist support.
Our Funeral Pledge
We’ll pay up to £10,000 of your valid claim in advance towards the cost of a funeral. This is financial assistance when your family need it most.
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 you and your family cope with a serious illness.
Waiver of Premium
We offer an extra called Waiver of Premium. For just a small additional amount, this add-on means that we can pay your premiums if you can’t work due to injury or illness. It’s that simple.
Best Doctors and Winston’s Wish are non-contractual benefits which 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
Term Assurance - Key Facts
For more information on YourLife Plan Term Assurance, visit our Key Facts.
Family Income Benefit - Key Facts
For more information on YourLife Plan Family Income Benefit, visit our Key Facts.
Life Start - Key Facts
For more information on Life Start - Term Assurance, visit our Key Facts.