Its user-friendly portal, SME pricing, mental health and bereaved children support, and non-smoker rates for infrequent cigar smokers are just some of the aspects advisers will miss most about AIG Life UK’s proposition.
This is according to advisers Health & Protection spoke to following this week’s announcement from Aviva that the former APUK (previously AIG Life) proposition has now been fully closed to new business but will continue to honour existing pipeline cases in line with agreed timelines.
The closure coincides with the launch of an integrated high value proposition aimed at supporting advisers in addressing the complex and evolving needs of high-net-worth clients (HNW), amid rising demand for inheritance tax (IHT) planning.
Aviva completed the acquisition of AIG’s UK protection business back in April 2024.
That acquisition prompted advisers to tell Health & Protection at the time that they hoped Aviva would retain unique aspects of AIG’s proposition, with Aviva subsequently incorporating some of the provider’s proposition including its pregnancy support.
Fantastic provider
But advisers Health & Protection spoke to have still bid a fond farewell to AIG Life UK following yesterday’s announcement, with Marta Scott-Manuszewska, director of Five Star Mortgages, describing the insurer as a “fantastic” provider.
“Their enhanced children’s cover proposition, with up to £50,000 of cover and hospitalisation benefits, was outstanding,” Scott-Manuszewska said, adding what she admired most about AIG was its partnership with Winston’s Wish, a charity that supports bereaved children.
“I remember arranging a mortgage for a mother of two teenage boys who had recently lost their husband and father in a fatal bike accident,” Scott-Manuszewska continued.
“The boys were struggling immensely, and their mum, who was Polish, wasn’t sure where to turn for support.
“Because she had an AIG policy, I suggested that she contact Winston’s Wish. It proved to be a real game changer for the family.
“That experience has stayed with me for years, and it is what I will always associate with AIG.
“It wasn’t the pay out that made the difference — it was the support those boys received when they needed it most.”
Easy to use portal
Stuart Lowe, director of risk and protection at Broadway Insurance Partners, meanwhile, told Health & Protection that he will miss the easy to use AIG portal.
“I don’t think anyone else’s portal is as clear or as user-friendly as their portal was,” Lowe explained.
“Their new to market SME business pricing was brilliant,” he continued. “While there are few others like that – MetLife, L&G are starting to claim that space, that was their bread and butter, and you knew that the business was going to them.”
Quarterly updates
But Lowe added he will also miss AIG’s quarterly employee updates for clients.
“While we didn’t have a lot of them, the one or two clients who really liked that, it was really beneficial for and every so often we do get that question,” he added.
Bringing group protection to life
Kristian Breeze, director of healthcare at Ascend Broking Group, told Health & Protection he will miss AIG’s ability to bring group protection to life.
“Smart Health, the strength of the mental health support, proactive rehabilitation services and a continual commitment to innovation made it much more than an insurance policy,” Breeze said.
“It gave employers a benefit that employees could genuinely engage with long before a claim was ever needed.
“Let’s hope that Aviva can continue to build on this,” he added.
Non-smoker rates
Holly Hill, director at John Lamb Hill Oldridge, picked out AIG’s offer of non-smoker rates to infrequent cigar smokers.
“This was very helpful for people who celebrate birthdays with a cigar,” Hill pointed out.
“AIG’s JLSD [joint life second death] contract offered a separation clause so that in the event of divorce the joint-life policy could be split into two single life covers with the split following the terms of the divorce settlement.
“AIG also used to allow a UK trust to apply for cover on a foreign life assured which was very helpful.”
