AIG releases product enhancements

The changes include an increase of the term life funeral benefit to $10,000, and an increase to the limits for special events increase options to $250,000 for each event - of which there are nine in total. Plus, an automatic term life financial planning benefit has been added.

“These are all changes that can really help families when the pressure’s on” chief business development officer Michael Hewes says.

He says the financial planning benefit gives families the funding to get expert help when they need it and, best of all, it is paid out automatically.

AIG Life has updated its comprehensive Business Insurance Guide with the latest tax information and now includes a checklist for business owners and a simple guide to prioritising needs.

As part of the changes it has removed the cancellation clause for the company’s Key Person Cover.

“AIG Life was the first in the market with Key Person Cover,” Hewes says, “and the removal clause provides for certainty for existing and prospective clients.”

“The KPB product has been a real hit with insurance consultants and business owners and as such remains a core part of our business offering.”