Individual Protection from AIG
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low start - critical illness with term assurance

Many people buy term assurance when they take on a large financial commitment, like a mortgage, just in case the worst happens. But financial plans are more likely to be upset by something like cancer, heart attack or stroke.

Why recommend critical illness cover?

Critical illness cover pays out a tax-free lump sum not just if your client dies, but also if their life is interrupted by a critical illness. Depending on how much your client wants to insure, the payout can help them meet their family’s financial obligations, pursue a less stressful lifestyle while they recover, secure their home or simply buy them some time in which they can put money worries aside.

Why choose Low Start?

When taking out critical illness cover, some clients may be stretched first-time buyers or need a higher sum assured than they can comfortably afford right now. If your clients would prefer their premiums to be more affordable early on, they can choose to pay with Low Start.


Low Start premiums increase gradually at a fixed rate each year and can remain lower than level premiums for 10 years or more. Clients can even switch to level premiums whenever they want.

Overview

In total, Low Start Critical Illness Cover with Term Assurance covers 80 conditions, 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. Low Start provides the same great cover as YourLife Plan critical illness cover - it’s simply another way to pay.

More cover for children

Most people don’t realise that children are actually one of the most common reasons for people needing to claim. That’s why we automatically cover any children your client has 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 client’s child dies during the term of the cover.

For a full list of the medical conditions that we cover and the definitions we use, please check:

Low Start Term Assurance Critical Illness Key facts

Low Start Term Assurance Critical Illness Key facts

Key facts document
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Switch to level premiums at any point

Low Start premiums increase at a fixed rate each year. Each annual increase will be shown in your client’s quote illustration, so there are no surprises.

If your client later wants to stop their annual premium increases, we can reduce their sum assured and switch them to level premiums at any point.

Setting up the policy

When setting up the policy, your client can choose:

  • Single or joint life;
  • Whether or not to include Waiver of Premium; and
  • A sum assured of up to £500,000 before we ask financial questions.

Limits of the policy

Min/max age at entry 17-59
Max age covered 69
Min/max term 3-40
Max benefit No maximum
Max benefit without financial questions £500,000
You can also choose to add waiver of premium to cover costs during working life if the person covered is unable to work:
Max age at entry 54
Max age covered 69

Check the Low Start Critical Illness Cover with Term Assurance Cover Details for a full explanation of Waiver of Premium.

Making changes to the policy

Your client can increase their sum assured without further underwriting when they:

  • Marry or enter into a civil partnership; or
  • Have a child or legally adopt one; or
  • Increase the amount of their mortgage to buy a new home or to pay for improvements.

If necessary, they can also:

  • Change the term of the cover;
  • Reduce the sum assured;
  • Add another person to the policy;
  • Change a joint life policy into two single life policies;
  • Stop annual premium increases; and
  • Change when and how often a premium is paid.

Check the Low Start Critical Illness Cover with Term Assurance Cover Details for a full explanation of any limits to these changes.

Introducing Low Start

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