AIG YourLife Plan Term Assurance
Date Reviewed: 15.05.2019
What is the minimum acceptable age at commencement when applying for AIG Life YourLife Plan Term Assurance?
The minimum age at entry is 17 attained.
What is the maximum age attained at the commencement of insured for AIG Life YourLife Plan Term Assurance?
The maximum age at entry is 86.
What is the minimum policy term for AIG Life YourLife Plan Term Assurance?
The minimum policy term is 2 years.
The term of the cover is how long the insurance lasts. You choose the term of the cover. This can be any number of years between 2 and 70, although the policy must end before the person covered reaches their 90th birthday.
What is the minimum sum assured for AIG Life YourLife Plan Term Assurance?
The minimum sum assured for life cover is £10,000.00 for life cover.
What is the maximum sum assured for life cover only and where accelerated CIC is included for AIG Life YourLife Plan Term Assurance?
There is no maximum sum assured for life cover, but AIG may require further information about the person covered to cover large amounts.
Is there an additional critical illness cover for AIG Life YourLife Plan Term Assurance?
No
What is the minimum acceptable monthly premium for AIG Life YourLife Plan Term Assurance?
The minimum monthly premium is £5.00.
What are the additional benefits with AIG Life YourLife Plan Term Assurance?
Fracture Cover – Not applicable
Donor Cover – Not applicable
Other benefits – TPD with Temporary Disability is an optional additional benefit. If the person covered has Critical Illness with Term Assurance, they can choose to be covered for an illness or injury that temporarily stops them working.
Temporary Disability Definition - Ageas Protect
The person covered meets the definition of incapacitated that applies to them. They need to be incapacitated for a continuous period longer than 26 weeks.
If the person covered was in paid work before they became incapacitated and meets our own occupation or suited occupation definition
AIG will pay a monthly benefit equal to the lower of:
- 1% of the current sum assured; or
- 50% of their pre-tax monthly income before they become incapacitated, less any income they are still receiving from their employer, from self-employment, from other insurance benefits or from pension arrangements other than State Pensions.
If the person covered was in paid work before they became incapacitated, but meets our work tasks definition
The maximum AIG will pay each month is 1% of the current sum assured. Up to this limit, we will pay the higher of:
- 50% of their pre-tax monthly income before they became incapacitated less any income they are still receiving from their employer, from self-employment, from other insurance benefits or from pension arrangements other than State Pensions; or
- £1,667 a month.
If the person covered was not in paid work before they became incapacitated
AIG will pay 1% of the current sum assured, up to a maximum of £1,667 a month.
When to claim
We ask the person claiming to contact AIG as soon as possible.
For Waiver of Premium and Total Disability claims, we ask AIG is notified within eight weeks of the person covered becoming incapacitated.
Winston's Wish
Anyone with children who makes a call to claim, due to death or terminal illness have the added comfort of access to bereavement support if they choose.
Winston's Wish is a leading UK charity offering practical support and guidance to bereaved children, young people and their families.
The added-value service will be dependant on the individual's needs, in other words, those of the children and remaining parent or carer and can range from advice over the phone to one to one support sessions and residential courses, as long as they can provide Winston's Wish with the relevant policy details.
Sum assured in instalments - Not applicable
Large case discount available – There is a large case discount for sums assured in excess of £50,000.
What is the total number of critical illnesses conditions covered by AIG Life YourLife Plan Term Assurance?
1
What are the exclusions applicable to critical illness cover with AIG Life YourLife Plan Term Assurance?
Not applicable
Would I be excluded from AIG Life YourLife Plan Term Assurance if
- I worked in armed force - No
- Had a pre-existing condition – No
Are there Virtual GP Services for AIG Life YourLife Plan Term Assurance?
No
Are there any claims support services for AIG Life YourLife Plan Term Assurance?
Support during a claim
If AIG has agreed that the person claiming may have a valid claim, they may pay up to £300 for services that support the person covered or their family. The services that are covered by this support payment will depend on the circumstances but could range from physiotherapy or counselling to the cost of taking taxis to hospital appointments.
AIG needs to approve the services and agree their cost before they are used. Whether AIG approves the service depends on the situation of the person covered and the advice of their doctor. They will refund the cost as soon as they have received the receipts for the services that they agreed.
The claims advisor will explain the services that we can pay for.
Please remember that if they pay for support services, it does not necessarily mean they will approve a claim on your cover.
AIG will not pay for support services in relation to a Waiver of the Premium claim.
Any payments made under the claims support fund will not be deducted from the benefit payable.
Winston's Wish
Anyone with children who makes a call to claim, due to death or terminal illness have the added comfort of access to bereavement support if they choose.
Winston's Wish is a leading UK charity offering practical support and guidance to bereaved children, young people and their families.
The added-value service will be dependant on the individual's needs, in other words, those of the children and remaining parent or carer and can range from advice over the phone to one to one support sessions and residential courses, as long as they can provide Winston's Wish with the relevant policy details.
To find out more about AIG Life and our other Life insurance providers call us today on 0800 862 0373 or get a quote now.
* Information about the AIG Life YourLife Plan Term Assurance product is provided by Defaqto and is correct as of the review date stated
