About AIG

AIG – American International Group, Inc – is a global finance and insurance company serving customers in over 80 countries, with roots tracing back to 1919. AIG Life Limited is the company’s UK personal protection arm (offering products like life insurance and income protection), which focuses on making insurance as easy and accessible as possible for those with a protection need in the UK.

AIG income protection policy features

If you buy your income protection through AIG, your policy is likely to come with the following features:

Back-to-work benefit If you become able to work while making an income protection claim, but can only go back part time (or to a different job with a lower salary), you’ll continue to receive a proportion of your income protection benefit.
Rehabilitation Access to rehabilitation services to help you get back to work more quickly. This could include physiotherapy, counselling, or any other service/procedure that might help speed up your recovery.
Benefit guarantee Your income protection benefit will never fall below £1,500/month – as long as you bought at least that amount when you took out your policy. You normally need to be working a minimum number of hours to qualify for this benefit.
Death benefit If you die during the term of your income protection policy, your family will receive a £10,000 lump sum.
Family carer benefit You’ll be able to make a proportionate income protection claim if your partner or child falls seriously ill for at least 3 consecutive months.
Guaranteed insurability You’ll have the opportunity to increase your income protection cover after certain life changes. In an AIG policy, this includes: getting married or entering a civil partnership; becoming a parent; getting a significant pay rise; and taking out a new mortgage or increasing your existing mortgage amount or term.
Hospitalisation benefit Get £100 per night if you are hospitalised for any reason during the waiting period of a claim. This benefit is usually subject to a minimum and maximum number of consecutive nights spent in hospital.
Trauma benefit If you experience trauma, you’ll get paid a lump sum of 6x your monthly benefit or £50,000 – whichever is lower. This usually includes blindness, deafness or the loss of a limb, but it's always best to check your policy’s list.
Waiver of premium Most income protection policies come with this handy add-on that means you won't keep paying your monthly premiums if you're off work for medical reasons. You usually need to be off for a certain amount of time before you can claim this benefit.

AIG income protection extra policy benefits

AIG income protection policies also come with a number of extra benefits, outlined below. These features are ‘non-contractual’, meaning they’re not related to the contractual conditions of your own policy, and are often provided by a third party. Everyone is eligible for them (though they’re usually only made available if you buy your AIG policy through an adviser), but they may be subject to change in the future.

Best Doctors® This service entitles you and your family to a second medical opinion from a specialist if you receive a diagnosis.
Smart Health A healthcare service that gives AIG customers access to 24/7 virtual GP appointments; the Best Doctors® service described above; mental health support; online health checks; nutritionist consultations; and an online fitness programme.
Winston’s Wish A child bereavement service that supports children who’ve lost a parent or sibling, including a free national helpline, face-to-face support, and online resources.

AIG income protection prices

The following prices are based on:

  • Healthy 25-year old male or female office worker
  • £1,500 of level income protection cover
Product Waiting period Non-smoker Smoker
Long-term 13 weeks £29 £46
26 weeks £28 £43
Short-term 13 weeks £11 £17
26 weeks £10 £14
  • Healthy 25-year old male or female plumber
  • £1,500 of level income protection cover
Product Waiting period Non-smoker Smoker
Long-term 13 weeks £43 £85
26 weeks £37 £70
Short-term 13 weeks £16 £25
26 weeks £12 £21
  • Healthy 35-year old male or female office worker
  • £1,500 of level income protection cover
Product Waiting period Non-smoker Smoker
Long-term 13 weeks £41 £61
26 weeks £40 £48
Short-term 13 weeks £15 £21
26 weeks £13 £16
  • Healthy 35-year old male or female plumber
  • £1,500 of level income protection cover
Product Waiting period Non-smoker Smoker
Long-term 13 weeks £63 £114
26 weeks £58 £99
Short-term 13 weeks £22 £36
26 weeks £20 £29

Product: AIG YourLife Plan Income Protection
Quoted on 6/03/2020

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This review is intended for informative purposes only and does not constitute advice.