AIG Life has introduced a new Over Fifties Life Plan with a range of benefits, transforming the traditional direct to consumer product into a mainstream adviser offer.
Typically, Over Fifties Life Plans have been sold direct online, through magazine inserts and day time TV marketing campaigns.
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“As the first provider to offer an Over Fifties Life Plan to all advisers, we’re opening up a new market opportunity for you and making protection easier to buy for your customers,” the company said in its press statement.
The new insurance policy provides a protected benefit where payments cease at age 90 regardless, although, if half of the premiums are paid between the commencement of the cover and age 90, a guaranteed payout is offered to the insured.
The product also features an Inflation Option – increase by up to 10% RPI each year. It will pay up to £10,000 of the claim in advance towards the cost of a funeral. It is available to write in trust and is signature free.
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By GlobalData
