Many people insure the things they feel are valuable – their house, their possessions, maybe even their pets. But for most, the thing they value is their income.
Income Protection is the most over-looked protection product. Many people choose to ignore how they would manage the interruption of income due to illness or injury. It is also often viewed as too complex and difficult to recommend. This, in turn, contributes to the biggest gap in the protection market. Yet, arguably, Income Protection is the most vital protection product your client should have.
AIG wants to help you bridge the gap with its market-leading comprehensive Income Protection, offering a faster, stronger and better solution. In most situations, Income Protection can provide an essential safety net by paying a replacement income, while helping individuals get back into the workplace earlier with a range of rehabilitation support services.
Our early intervention rehabilitation support services could help your clients from the moment they are unable to work due to illness or injury, by providing assistance during the deferred period to speed their recovery and return to the workplace.
Hospital stays can be lengthy and costly. To help your clients cope, we will pay your client £100 per night after the first 6 nights, for every night they need to stay in hospital during the deferred period, up to a maximum of 90 nights.
Most people want to get back to work, but waiting lists or treatment costs can hold them back. Your client can claim an additional three times their monthly benefit (with no deferred period) towards advice or services, for example physiotherapy to help them get back to work sooner.
If your client does return to work, but for a lower salary or fewer hours, we’ll top up their earnings to match their monthly benefit.
Family Carer Benefit
If a family member becomes seriously ill, this could put a huge strain on family finances. To help your client care for them or pay for help towards care so they can continue working, our family carer benefit could pay your client a monthly benefit of up to £1,500 for up to 12 months if their spouse or child suffered an illness or injury which significantly impacted their lives.
If your client suffers from one of the six traumatic illnesses or conditions we cover, we will pay six times the monthly benefit amount as a lump sum or £50,000, whichever is lower.
Terminal illness benefit
If your client is diagnosed with a terminal illness with less than 12 months to live, we will waive the deferred period and pay 12 times the monthly benefit upfront, as one lump sum.
If your client dies, we will pay £10,000 as a lump sum.
For further details about the benefits included within our cover, please read the Cover Details.
To help your clients budget, they can choose a claims payment period of 2 years (limited payment term), or full policy term.
Making changes to the policy
Major life changing events may mean your clients need to change their cover. They can make a number of changes to make sure their cover still meets their needs. We allow an increase of up to £835 per month or 50% of the monthly benefit (whichever is lower) without further underwriting for the following:
For a full list of changes which can be made and any limitations, please see the Cover Details.