AIG Life revamps access to income protection

The IP now pays 60% of the first £60,000 of the customer's salary plus 50% of anything after as a tax-free fixed monthly sum if they are too ill to work. This applies to full IP and a short two-year claim option. The product also includes a waiving of the deferred period and AIG will pay the monthly benefit, should the individual find they have not fully recovered upon their return to work, if within 12 months of returning to work. If they chose the shorter-term payment option, the linked claim is paid provided they haven't exhausted the 24 months of benefit on that condition. An inco...