AIG Life revamps Low Start's name and pricing

clock • 2 min read

AIG Life has simplified the pricing and name for its current Low Start proposition following intermediary feedback in a bid to make it easier for customers to understand.

  The product is no longer called Low Start and has been renamed Life Start and CIC Start. Premiums start 30% lower on average than AIG's level term assurance and critical illness (CI) with term assurance. The premium increases by a fixed 3.5% annual compound each year and the incremental price will rise to match the cost of AIG's level term assurance (TA) and CI with TA by no later than 80% of the way through the term. Customers have the flexibility to convert to AIG's level term assurance and critical illness with term assurance without any further underwriting as their circum...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Individual Protection

Probate delays jump 65% for year-long cases

Probate delays jump 65% for year-long cases

Cases taking over six months rose 112%

Jaskeet Briah
clock 23 April 2024 • 2 min read
Six in 10 claims handlers want to develop technological skills

Six in 10 claims handlers want to develop technological skills

Sprout.ai research shows

Jaskeet Briah
clock 22 April 2024 • 3 min read
AFM members pay out £70m on IP claims in 2023

AFM members pay out £70m on IP claims in 2023

Claims for musculoskeletal continue to rise

Jaskeet Briah
clock 17 April 2024 • 2 min read