Individual Protection from AIG

Low Start - Term Assurance

If your clients would prefer their premiums to be more affordable early on, they can choose our Low Start option.

How Low Start saves your client money early on

The level of initial discount varies depending on the age of the client at outset and the term of the cover. However, Low Start premiums can be as much as 40% lower in the first year than level premiums. The premium rises each year, but – depending on the term of the cover – can stay lower than level premiums for 10 years or more.

Low Start term assurance covers your client against death or terminal illness for the full duration of the policy term – it’s simply another way to pay.

Unlike other providers, we don’t exclude claims for terminal illnesses diagnosed in the last 12 or 18 months - AIG covers your client against both death and terminal illness right up until the last day of their policy.

In addition, all Low Start policies include Best Doctors and Winston’s Wish for the person covered and their immediate family.

Switch to level premiums at any point

Low Start premiums increase at a fixed rate each year and 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, you can choose:

  • Single Life or Joint life
  • Own Life or Life of Another
  • Waiver of Premium
  • A sum assured that is level

Limits of the policy

Min/max age at entry 17-86
Max age covered 89
Min/max term 3-70
Max benefit No maximum
Max benefit before we ask 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 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 up to 13 weeks after 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;
  • Stop or restart annual increases;
  • Change from a decreasing to a level lump sum;
  • Add another person;
  • Split a joint life policy; and
  • Change how often and when a premium is paid

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

Introducing Low Start

Download our Sales Aid