AIG Life has launched a simple critical illness plan called Key 3 which incorporates just three conditions - Cancer, Heart Attack and Stroke, writes CIExpert.
Whilst these conditions meet the minimum requirement set by the ABI for a critical illness plan it is noted these three conditions account for around 85% of all critical illness claims. Across the industry claims are approximately 65% for Cancer, 12% for Heart Attack and 8% for Stroke, although this disguises gender variations. AIG Life advises that premiums will be close to 30% lower than their more comprehensive ‘Your Life' plan counterpart. The policy will not be available on comparison sites and is aimed at those advisers, often busy mortgage advisers, who will benefit from a s...
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