You are here: Home - News -

AIG simplifies pricing for starter life and CI products

  • 30/05/2017
  • 0
AIG simplifies pricing for starter life and CI products
AIG Life has relaunched its simplified life and critical illness cover (CIC) products.

Both the Life Start and CIC Start products offer the same cover as AIG’s standard level term life and critical illness assurance, but premiums start lower and increase at a fixed 3.5% each year.

The insurer said premiums were on average 30% lower than standard products and customers can also upgrade to the standard products without additional underwriting.

The incremental price will rise to match the cost of the standard products by no later than 80% of the way through the term.

Both include access to the Best Doctors second opinion medical service and children’s bereavement charity Winston’s Wish, as well as AIG Life’s Claims Support Fund.

AIG Life intermediary director Vicky Churcher said: “Feedback we gathered from intermediaries was that affordability is becoming more of an issue as the cost of living increases and customers want certainty about what they will pay each year for their protection insurance.

“We reworked Life Start and CIC Start to set in stone how it rises in cost each year.

“This allows intermediaries to reach new clients seeking affordable, high-quality life and critical illness and enables individuals on a tight budget as well as stretched property owners to get the start they need,” added Churcher.

The Claims Support Fund pays up to £300 on top of the sums assured to help with a range of costs such as parking and travel when attending hospital appointments, childcare while in hospital, wigs and special clothing and the hiring of a cleaner while they were recovering from treatment.

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • RT @robjupp: Great day yesterday for donations to @MortSleepOut. With Gift Aid, we are now close to £17,000. It would be great to get to £2…

Read previous post:
More than £50bn of interest-only to be paid off by 2020

Research from the Centre for Economics and Business Research (CEBR) and Leeds Building Society revealed that more than £50bn of...