AIG Life has launched Instant Life, a level term insurance with an application time of less than 8 minutes. The online journey can be completed by the adviser or by the customer on a desktop or mobile device giving an immediate decision without the need for medical evidence.
This is the latest in a series of initiatives building on AIG Life’s promise to advisers to be “easy to do business with”, following on from the launch of its Over Fifties Life Plan a few weeks ago.
Vicky Churcher, intermediary director at AIG Life, said: “We know many of our customers and advisers want instant protection and simplicity when applying for life cover. With Instant Life, we’re giving advisers a new, no frills, low cost, level term life product, which is what they’ve been asking for.
“Instant Life doesn’t require medical reports, and we’ll give an immediate decision once the application is completed, which only takes a few minutes and can be done by the adviser themselves or, the adviser can send the link to the customer to fill in. If the customer completes the application, we’ll notify the adviser straight away with the outcome.”