Do your clients want to be covered for the most common critical illnesses but say they can’t afford comprehensive insurance?

 

Key3 Critical Illness Insurance from AIG Life is a lower cost critical illness insurance which pays a lump sum if your client is diagnosed with cancer, or suffers a heart attackor stroke.

 

Key3 fills a gap in the market for customers who feel they can’t afford comprehensive critical illness insurance or who, like Generation Rent, do not own a home and are therefore not prompted by a house purchase to look at how they will manage financially if they suffer from one of the Key3 critical illnesses – cancer, heart attack or stroke.

 

As Key3 is cheaper than comprehensive critical illness covers, it may work well within your client’s budget whilst still offering the essential cover they need.

It can also be bought with life insurance meaning it could pay out if the policyholder dies or is diagnosed with a terminal illness and has less than 12 months to live.

Client scenario #1

Mr Jones is 30 years old and works as a trainee architect, earning £28,900. He shares a house in Brighton with two other young professionals at a cost of £600 pcm. He is a non-smoker.

  • Single life
  • 20-year level term
  • Sum assured: £75,000

Monthly premiums*:

Key3 Critical Illness with Life: £14.20

Key3 Critical Illness Insurance: £12.98

Client scenario #2

Mr and Mrs Parker are both 40 years old and have a four-year old daughter. Mrs Parker works part-time, and their combined household income is£38,500. They bought their first home four years ago, and their mortgage costs £650 a month.  They are both non-smokers.

  • Joint life
  • 25-year decreasing term
  • Sum assured: £100,000
  • Interest rate: 8%

Monthly premiums*:

Key3 Critical Illness with Life: £51.26

Key3 Critical Illness Insurance: £43.33

* Prices correct as of 10 August 2016; premiums quoted assume straight-through processing and do not take into account any loadings for medical conditions

To find out how we can help your clients gain more affordable critical illness insurance, visit our Key3 webpage. Alternatively, you can call our Sales team on 0345 600 6829 or visit www.aiglife.co.uk.