AIG Life has added to the range of products and tools aimed at intermediaries who have international clients needing protection insurance for their UK financial liabilities.

AIG announced in April it could offer intermediated protection insurance to British expats living almost anywhere in the world via AIG Life’s term assurance, critical illness and whole of life products and to foreign nationals living in over 40 countries, provided they have a UK financial interest.

Family Income Benefit (FIB) has now been added to the range of products available to British citizens, alongside Key 3, Life Start and CIC Start.

International access to FIB is provided in response to demand from customers who live abroad and have regular UK financial commitments such paying for a child’s school or university fees, or a relative’s long-term care.

AIG Life has also created a simple web-based information tool to help intermediaries identify if their non-UK resident clients can buy AIG’s protection insurance.

The quick reference web page, built using adviser feedback, is accessible on AIG’s website It indicates whether a customer may be eligible to buy protection insurance and, if so, which products and options they could consider buying.

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The tool is a guide to likely product eligibility as it contains no underwriting information. Any client-specific information will still need to be assessed by AIG’s underwriters upon application.

These two elements are unveiled ahead of the government’s anticipated Royal Assent of the Summer Finance Bill when Parliament is in session again from September.

HMRC confirmed on 13th July that legislation creating an inheritance tax (IHT) liability on non-UK domiciles holding UK residential property via an offshore company or trust – but which was put on hold ahead of June’s General Election – is to be readmitted via a Summer Finance Bill.

This legislation – coined by AIG as ‘IHTED’ (for ‘Inheritance Tax on Enveloped Dwellings’) – will create billions of pounds worth of IHT liability for the beneficiaries of impacted individuals and is expected to be applied retrospectively from 6th April 2017.

Andy Roberts, Technical Sales Manager, commented: “The IHTED legislation was expected to have been signed into law by now, but sadly politics got in the way. By opening access to more products and tools now, AIG is making sure intermediaries have everything they need to support international clients who need financial protection now or who could soon be affected by IHTED.”