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.