AIG Life announced that it paid out a total of £92m in life and critical illness claims in 2018 – helping over 1500 individuals and families. This was a 26% increase from £73m that was paid out in 2017. AIG Life also saw an increasing number of claims for children’s critical illness pay-outs to parents. Four in 10 customers who accessed Best Doctors’ second medical opinion service received a new diagnosis in 2018 for themselves or a family member, or changed their treatment following the advice given. One in six Best Doctors cases reviewed, were for the child of a policyholder. Life Cover Claims AIG Life paid 99% of Life Cover claims in 2018, same % as in 2017 They paid...
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Ageas Protect is now called AIG Life On 31st December 2014, Ageas Protect Limited was acquired by the AIG Group and is no longer part of the Ageas Group. AIG Group is a leading international insurance organisation serving customers in more than 130 countries. This change will have no impact on their policyholders, and all existing policies shall continue as before. Direct debits will continue in the normal way as will their claims process, so should you need to make a claim, please use the contact details you have. The company name and registered address have now changed to AIG Life Limited, The AIG Building, 58 Fenchurch Street, London EC3M 4AB. Next steps Whilst you are welcome to...
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AIG to revert to old name for all operations Moves seen as sign that turnaround efforts succeeding NEW YORK—American International Group Inc.'s decision to return to the “AIG name in full” rather than operating its commercial property/casualty business under the Chartis brand is drawing generally positive reaction from market observers. AIG President and CEO Robert H. Benmosche announced the decision to revert to the AIG name for all operations in an internal memo last week. “I can say with pride that together we are close to achieving a complete turnaround of AIG, and we continue to make significant progress restoring our reputation,” Mr. Benmosche wrote in the memo. “Research shows that...
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Why choose AIG life insurance? AIG offers life insurance products to cater for all sorts of needs and budgets. This includes term insurance, family income benefit, Life Start and Instant Life Insurance. It also offers over 50s life cover and whole of life insurance. AIG includes additional benefits for free with their life insurance, such as unlimited access to an award-winning Smart Health website and app which can put you in touch with GPs, as well as other health and wellbeing experts for help and advice whenever you need it. What does AIG life insurance cover? Choose from four different life insurance plans: Term insurance This is designed to pay out a lump sum when the person insured...
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AmeriLife Group, LLC (“AmeriLife”), a national leader in developing, marketing, and distributing annuity, life and health insurance solutions, today announced that its agencies and affiliates are now offering SimpliNow Legacy from AIG (issued by American General Life Insurance Company), a simplified issue whole life insurance product specifically designed for middle-market American seniors. SimpliNow Legacy was designed to help policyholders lessen the burden of final expenses--including unpaid debt, medical bills or other household costs--on their loved ones. The product offers a unique limited-pay feature and death benefit coverage ranging from $5,000-$35,000. SimpliNow Legacy was...
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(Reuters) - American International Group Inc said on Wednesday it is hiking some commercial insurance rates by as much as 45%, a trend it sees persisting in 2021, as the company prepares to install Peter Zaffino as its new chief executive on March 1. The insurer also said it had received high-quality inquiries about the planned sale of its life and retirement business. It said it was still “actively working towards” an initial public offering for an initial 19.9% stake, but also was weighing the interest from private buyers. AIG’s sale comes as insurers are making deals at a frenzied pace. The company has not said what route it would take with the remaining 80.1% stake, but has indicated it...
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Tata AIG General Insurance launches Tata AIG Criti-Medicare health policy Tata AIG Criti-Medicare guarantees 3 times of sum assured and 70% waiver of premium in case of any critical illness.. Photo: iStockphoto Looking at the high probability of falling into the trap of lifestyle diseases today and the hardship individuals undergo, Tata AIG General Insurance has conceptualised and launched Tata AIG Criti-Medicare to offer extensive financial protection in times of unexpected and serious medical ailments, it said. Criti-Medicare offers various coverages under four sections--critical illness, cancer 360 degree indemnity, hospital cash, wellsurance benefit (optional). It offers two plans--...
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The relationship between the insurance sector and the LGBT+ community has been a big focus for International Adviser in its coverage of diversity and inclusion issues within financial services. In one of our investigations in 2020, we discovered that people living with HIV – who at the time were mostly gay and bisexual men – felt ‘discriminated’ against by insurance providers as many adopted “blanket or general” policies making it nearly impossible for them to obtain protection cover. But in a positive turn of events, AIG Life – the UK subsidiary of US-based AIG – has lifted all restrictions for HIV+ customers, IA can reveal. Helen Croft, head of underwriting strategy at AIG...
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AIG sees improvement in GI underwriting results as combined ratio strengthens American International Group, Inc. (AIG) has reported pre-tax income of $1.2 billion within its General Insurance (GI) business for the first-quarter of 2022, which reflects a $373 million improvement in underwriting income on the back of a stronger combined ratio. AIG’s GI segment has recorded an underwriting gain of $446 million in Q1 2022, compared with a gain of just $73 million in Q1 2021, as the combined ratio strengthened from 98.8% last year to 92.9% this year. Within GI, the loss ratio improved by 4.7 percentage points to 60.9%, driven by strong underwriting results including significantly lower...
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