We understand that the biggest fear your clients have is the risk of being diagnosed with cancer or suffering a heart attack or stroke - almost 80% of the adult critical illness claims paid out by AIG Life in 2015 were for these three conditions1 .
Every two minutes, someone is diagnosed with cancer2
Every seven minutes, someone has a heart attack3
Every 12 minutes, someone has a stroke4
If this happens, their ability to make a full and successful recovery could be considerably improved by the financial peace of mind provided by critical illness cover.
AIG has launched a solution to your client’s worries – Key3 Critical Illness Insurance
Key3 is a simpler version of our standard critical illness products covering the ‘Key 3 Critical Illnesses’ - cancer, heart attack and stroke. It pays a tax-free lump sum if your client suffers from one of these conditions.
Key3 is available with life insurance. If your client chooses the life insurance option, their policy will also pay out if the policy holder(s) die or are diagnosed with a terminal illness and are not expected to live for more than 12 months.
Simple: easy for you and your clients to understand exactly what they are covered for.
Affordable: cheaper than comprehensive critical illness cover, Key3 allows you to offer your client a solution that works within their budget while still getting the cover they need.
Essential: Key3 covers the ‘Key 3 Critical Illnesses’ people suffer from - cancer, heart attack and stroke - which accounted for almost 80% of the adult critical illness claims paid out by AIG Life in 2015.
Key3 can be taken out on a single life, joint life (first event) or life of another basis and can be bought on a level, increasing or decreasing basis. It also includes optional Waiver of Premium.
Key3 provides immediate access to the Best Doctors medical opinion service for your client, their partner and children. Even after a critical illness claim has been paid and the insurance has come to an end, the policyholder can continue to use this service for three years.
Should your client need to make a claim, they can access our Claims Support Fund, which can provide up to £300 to cover additional expenses caused by your client’s critical illness (such as travel and parking costs, physiotherapy, etc.).
If your client makes an application for Key3 Critical Illness with life insurance but then dies as a result of an accident before it starts, we will pay an Accidental Death Benefit equal to the amount of insurance your client has applied for £500,000 whichever is lower.
Having a critical illness policy in place should your client suffer from one of the key 3 critical illnesses could give your clients financial peace of mind, knowing the money can be used to pay their mortgage, or rent and utility bills and help cover the unforeseen costs of their illness such as rehabilitation treatments or alterations to their home or even a holiday, alongside other day-to-day household expenses, all whilst they concentrate on getting better.
Key3 might also be useful to clients owning a business who are looking for a simpler, more affordable way of gaining protecting insurance.