Joe Davine

Review of AIG Life Insurance

AIG Life Limited is the arm of AIG Life Insurance in the UK, Channel Islands, Isle of Man and Gibraltar.

They provide financial and practical support through a variety of Insurance plans targeted to individuals, families and businesses.

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  • Best Doctors access
  • Partners with Winston’s Wish
  • Most AIG Life Insurance policies can only be purchased through a financial Adviser
  • If sum paid out is part of estate it may be subject to the Inheritance Tax (IHT)

About AIG

AIG Insurance boasts on their website of 95 years of keeping promises to its customers. “Customer Service is at the heart of what we do,” is a motto of theirs. They feel if they treat customers fairly at all stages of interaction it will enhance their experience and lead to better service in the future.

Most of AIG Life Insurance policies can only be purchased through a financial adviser. This can be good and bad. Bad because you do not have the ease of applying online, but good because you will get sound advice as to what is best for your situation.

You choose the AIG Insurance cover amount and the term to suit your situation.

Insurance Options: Our Honest Breakdown

AIG Insurance policies included access to Best Doctors, high levels of cover and the ability to tailor products with a wide range of flexible options. You build your policy to suit your needs.

YourLife AIG Insurance Plan

YourLife AIG Plan in the UK is a Term insurance available to ages 17 to 86 that provides financial and practical support in the event of;

  • Death or a diagnosis of a terminal illness
  • A child is diagnosed with a critical illness
  • Illness or injury that prevents insured from working for themselves or to look after a child

You can tailor your AIG Life Insurance (UK) plan to fit your needs. With covers such as Critical Illness, Income Protection, and Family Income Benefit all with Term Options. Optional add-ons can cover a disability and even a waiver of premium.

AIG Insurance Critical Illness covers 80 critical illnesses, including the big four: Heart Attack, Cancer, Multiple Sclerosis, and Stroke are covered by definitions that go beyond the ABI’s standard.

Any child you have present or in the future will automatically be covered up to 50% of the AIG Life Insurance quote, up to £25,000.

The addition of Income Protection or Family Income Benefit provides your family with a monthly benefit.

The Total Disability option is unique to AIG Life Insurance. It could pay up to 50% of your pre-tax monthly income before you became incapacitated. And a Total Permanent Disability provides a total payout of policy should your disability prevent you from ever working again.

Whole of Life AIG Insurance

AIG Insurance Whole of Life policy is not limited by terms. The policy exists for your entire life. It is designed to protect your assets, help with costs of a funeral, provide funds for a possible bill from the Inheritance Tax, and gives family members the comfort of knowing they are taken care of.

Whole of Life, AIG Insurance (UK) policies are available to people 17 to 84 years of age. They pay out a lump sum, up to £25 Million, when the insured dies or is diagnosed with a terminal illness where life expectancy is less than 12 months.

Care Cover with Whole of Life Insurance

AIG Insurance Care Cover with Whole of Life Insurance offer sum assured amounts up to £400,000. It will assist with protecting your assets and help alleviate the cost of caring for you.

If you are diagnosed with a condition that inhibits your independent living or if you suffer from a severe cognitive impairment, this type of AIG Life Insurance will pay 75% of your policies sum insured.

Start Range

AIG Insurance UK Start Range provides the same great cover as YourLife Plan critical illness cover. The Start Range simply gives you another payment option.

Available as Life Start or with Critical Illness Cover. The main difference with Start Range is the cost. It is designed to have a lower initial premium and rise over time. The increase is fixed and you will know what the cost will be over the lifetime of the policy. The longer you keep it, the more costly it becomes. You have the option to select level payments at any time, but this could reduce the cover amount that would be paid out when a claim is filed.

Instant AIG Life Insurance

Instant AIG Insurance is available through websites that run financial comparisons. This makes submitting an application an easy process. Since it is designed for you to purchase without any advice, consider if this AIG Life Insurance is best suited for your needs.

Key3 Critical Illness Insurance

Key3 pays a tax-free lump sum if you are diagnosed with cancer[/link] or suffer a heart attack or stroke. It is available with AIG Life Insurance meaning your policy could also pay out if you die or are diagnosed with a terminal illness with a life expectancy of fewer than 12 months.

AIG Insurance (UK) - Conclusion

It is good to know how much insurance you are going to need. Consider things like mortgage, living expenses, and other financial commitments you may have. Then select the type and amount of AIG Life Insurance that will provide your family with the financial security you desire.

To purchase a policy with AIG Life Insurance contact your financial adviser. They can recommend how much coverage you need and help you decide which AIG Insurance products and features are best for your situation.

AIG Life Limited is the insurance arm of AIG in the UK, Channel Islands, Isle of Man and Gibraltar. The company was incorporated in 2007 and is based in London, United Kingdom. As of December 31, 2014, AIG Life Limited operates as a subsidiary of AIG Europe Holdings Limited.

AIG Life Insurance is authorized by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

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This review by aimed to cover all of the answers to your questions regarding UK based AIG life insurance company. If you found it informative, have a look at free quotes we offer!