AIG Life Insurance

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American International Group, also known as AIG was founded in 1919 and is an American multinational finance and insurance corporation with operations in more than 80 countries and jurisdictions. Their headquarters is in New York and they employ around 45,000 people. AIG has been operating in Europe for more than 65 years.

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AIG Life Insurance Policy Review

AIG's YourLife Plan offers a highly comprehensive policy with many additional free benefits. There is also the more economic option of Life Start policy, where premiums increase the older you get.  

AIG YourLife Plan Life Insurance Overview

Includes life cover and terminal illness cover  (Critical Illness cover can be added at an additional cost)

Policyholders age  You can take out a policy from 17 years of age.

Maximum Age The maximum entry age for a policy is 86 years of age (75 if the policy includes Critical Illness Cover).

Types of cover available  AIG offer Decreasing Cover, Level Term, Increasing Term Cover and Family Income Benefit policies. 

Policy Term the length of time your policy can run for can be between one and 50 years. 

 

 

4-star rating

with independant rating firm Defaqto

Outstanding Insurer of the Year

LifeSearch Awards 2020

Best Individual Life Insurance

Cover Excellence Awards

Best Critical Illness Provider

LifeSearch Awards 2020

AIG Life Insurance Cover

Available options with AIG Life Insurance

Life Insurance  AIG Options
Types of Cover offered
  • Term Life Insurance
  • Decreasing Term Life Insurance
  • Increasing Term Insurance 
  • Family Income Benefit
Minimum Age Entry 17 years old
Maximum Age Entry 86 years old (75 with Critical Illness)
Maximum Benefit Unlimited 
Terminal Illness Cover  Yes
Premium Type
  • Guaranteed
  • Annually increasing

AIG Life Insurance Key Benefits

Benefit Details
Life Change Benefit This allows you to increase your benefit if for example you get married, have children or buy a bigger house.
Separation Benefit If you have a joint policy and go through a separation, you can split to two separate policies. (Within 6 months of separation).
Indexed/Increasing Cover  You can choose increasing benefit cover, this means AIG increase your benefit 5% every year and premiums are reviewed annually. This is to ensure inflation won't make your benefit worth less in the future. 
Free Benefits AIG offer lots of additional benefits for free with your policy, with Smart Health suite. More below.
Additional Benefits It is also possible to benefit from other options which you pay a little extra for. 

Free Benefits

The following are also included with your policy:

Additional Benefit Details
Best Doctors With AIG you have access to Best Doctors for a medical second opinion. To help get the right diagnosis, treatment and care.
Funeral Pledge AIG pay up to £10,000 of a valid claim in advance, towards funeral costs. 
Claims Support Fund AIG offer a discretionary £300 towards services and wigs after cancer treatment. 
Smart Health SmartHealth is the health and wellbeing service from AIG and includes Digital GP, fitness and nutrition plans and advice, mental health support and health checks.
   

 

How to Make a Claim

To start a claim over the phone you can call AIG Monday - Thursday 9am - 6pm, or Friday 9am - 5.30pm, except UK bank holidays.

Call on: 0345 600 6815

Email: claimsteam@aiglife.co.uk

 

Frequently Asked Questions

What happens if I out-live my Term Life Insurance policy?

A Term Life Insurance policy does not provide a cash sum if you are still alive at the end of the term. Premiums tend to be lower for such policies as the majority will out-live their policy. Term Life Insurance policies are generally taken out by people who do not want to leave any financial burden on their family such as mortgage payments.

What is the difference between Over 50’s and Whole of Life Cover?

Both policies will pay out a lump sum upon your death at any age. Generally speaking, Whole of Life cover tends to have cheaper premiums over an Over 50’s plan as you have to disclose your medical information. The most cost effective option for you depends on whether you would benefit from your medical history being disclosed or not. Although the premiums of a Whole of Life policy tend to be lower, you will pay the premium until you pass away, whereas Over 50s plans often have an upper age limit. While your cover will remain, you are no longer required to make payments - usually when you reach 90 years old or the 30th anniversary of your policy.

Can I add Critical Illness to my Life Insurance?

Yes, should you suffer a serious illness Critical Illness cover will pay out a tax-free sum. This can be an add on to your Life Insurance policy or bought separately. Speak to one of our expert advisors to find out which policy would best suit your needs.

Who gets the money if my children are young when I die?

Setting up a Life Insurance policy is designed to protect loved ones and writing the policy into trust goes a step further in achieving this goal. This enables you to select who would hold the money for your children until they reach a certain age should you die. This will often be a partner, sibling or close friend as they will have a legal responsibility to carry out the wishes of the person creating the trust.

 

Will my cover cost more as a smoker?

Life Insurance is a risk-based product and so with the significant health impacts that smoking can have on a person, the insurance companies will charge someone a higher premium should they smoke. A smoker is usually defined as someone who has used any nicotine product in the last 12 months although some insurance companies have changed this to longer periods. If you took a policy while smoking and you no longer smoke, you should contact us to review your policy.

Will my cover cost more if I vape?

Vaping is a recent trend which insurance companies and health bodies have had to educate themselves on. The vast majority of e-cigarettes still contain a level of nicotine which can be addictive and so anyone who uses such products will still be classed as a smoker.

Is my premium fixed?

Most people tend to like the idea of their premium never changing as it provides stability and peace of mind – these are known as guaranteed premiums. Reviewable premiums are sometimes opted for whereby the premium can start at a lower amount but increase over of the course of the policy.

Will my Life Insurance payout be taxable?

No, your insurance payout will not be liable for tax.

 

AIG Life Insurance Policy Documents

For AIG Life Insurance Key Facts and Policy Terms & Conditions documents, see below.

 

Why Compare Health & Life Insurance with us?

Here at Usay Compare, we can help you to compare prices and cover from the market leading UK health and life insurance companies such as Aviva, AXA and Bupa. Our service is completely free of charge and we are totally independent and impartial.

Our unparalleled team of friendly, expert advisers are on the end of the phone, ready to guide you easily through the whole process. They will get to know your unique individual requirements, do all the hard work comparing prices and policies for you; then advise on the best and most cost-effective quote.

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  • Health Insurance
  • Life Insurance
  • Income Protection
  • Critical Ilness
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Life Insurance Guides

Below are our in-depth guides to help you understand Life Insurance better and learn more about how it works. Don't forget our advisers are always at the end of the phone to offer free, expert advice should you prefer to speak to someone in person.