YourLife Plan provides financial and practical support for you and your family when:
• You die or are diagnosed with a terminal illness;
• You or your children are diagnosed with a critical illness; or
• You are too ill or injured to work or need to take time off work to look after your children.
YourLife Plan can be tailored to meet your specific needs in any or all of these situations by choosing the right combination of:
Term assurance is perhaps the simplest type of life insurance – it pays out if you die. AIG also covers you if you are diagnosed with a terminal illness – and unlike other providers, we will consider a claim for terminal illness up until the last day of the policy.
Having term assurance could be vital to maintaining your family’s financial stability if you were to die and no longer able to support them.
Critical illness cover pays out if you die or suffer a serious or terminal illness. Depending on how much you choose to insure, the payout could allow you to cover your family’s financial needs, pursue a less stressful lifestyle while you recover, secure you home or simply give you peace of mind in adverse times.
In total, Critical Illness Cover with Term Assurance covers 80 conditions and operations, and we’ve made sure the ‘big four’ conditions – cancer, heart attack, multiple sclerosis and stroke - along with another 13 of the most critical conditions, are covered by definitions that go beyond the ABI’s standard.
More cover for children
We automatically cover any children you have now or in the future – as standard. Our enhanced children’s critical illness cover allows a parent to claim up to 50% of the value of their policy, up to a maximum of £25,000, if their child is diagnosed with one of the critical illnesses we cover. We also include seven additional child-specific conditions such as Diabetes Type 1, Down’s syndrome or spina bifida*. We also double the total payment, up to a maximum of £50,000, if curative or stabilising treatment is only available overseas and pay £5,000 as a child death benefit if your child dies during the term of the cover.
If an illness or injury prevents you from working, income protection provides you with a regular monthly benefit to help pay your bills. The monthly benefit is calculated as 60% of your annual income up to £25,000 plus 50% of any annual income exceeding £25,000, divided by 12.
And to make sure our cover really does meet people’s real life working needs, we also provide:
Family Income Benefit is also life insurance but pays your family a regular monthly income to help pay the bills if you die, rather than a large lump sum.
Every policy also includes Best Doctors and Winston’s Wish for your and your immediate family.
For extra protection, you can ask us to include the following add-on options (for a small extra amount) to make sure your insurance keeps going should you become too ill to work:
The type and amount of insurance that you should have in order to provide financial security for your family will depend on your financial situation. It’s up to you to work out how much insurance you would need to cover financial commitments such as your mortgage, household bills and living expenses.
We recommend you speak to a financial adviser to find out what and how much financial support you need, as well as deciding which of our products and features suit you.
*If the disability then becomes permanent, we will pay the remaining sum assured of the policy.
YourLife Plan cannot be purchased direct from AIG. We recommend you speak to a financial adviser to find out what and how much financial support you need, as well as deciding which of our products and features suit you best. If you don’t already have an Independent Financial Adviser, you can find one at https://www.unbiased.co.uk