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Further information Insurance Product Information DocumentPDF (78kb)

f you want to stop the increase, you just need to tell us. However, if you decide to stop the increase for three consecutive years, you will no longer have the option to increase the lump sum again in

Over 50s

Retail Prices Index (RPI) up to 10% per year

Your life cover will stop and since the plan has no surrender value, you won’t be entitled to a refund of any of the payments you’ve made.

If you miss a payment, you have 30 days to make any payments that are due.

If you die as a result of an accident in the first two years, AIG will pay to your estate an amount equivalent to three times the current lump sum at the time of the claim.

Your plan has no surrender value at any time and if you stop making payments no refund will be made.

If you die from anything other than an accident in the first two years, we will only pay an amount equal to one-and-a-half times the sum of any premium payments you have already made.

If you stop making payments before your 90th birthday, you will no longer be covered.

£50 per month

AIG Life will be collecting payments monthly by Direct Debit until you are 90 years old. After that, we will stop

IG Life Limited

If you cancel within 30 days of the date you received a document called your policy schedule, we’ll refund any monthly payments that you have made. You can cancel after 30 days has passed, but you won’t get any refund.

Your cover doesn’t rise over time

You can only increase the level of your Payout or monthly payments by taking out extra policies with us. If you’re accepted for an additional policy, the policy will be subject to the terms and conditions applicable at that time.The most we’ll pay out across all Co-op Over 50 Life Insurance policies you hold is £10,000. We’ll change or cancel policies if they would break this limit.

After each payment holiday you will have the option to make up all the missed payments, otherwise we’ll reduce your Payout by the amount of missed payments against the total payments you make for your policy during the Payout term.

age and whether or not you smoke.

If less than half the payments have been made between the start of your policy and your Final Payment Date, we’ll cancel your policy. You won’t get any payments back and you’ll no longer qualify for a Payout when you die.If more than half the payments have been made between the start of your policy and your Final Payment Date, your policy will still qualify for a Payout when you die, under our Payout Promise feature.

f you miss a payment and don’t pay it back within 60 days, our next step will depend on how long the payments have been made for

If you’d like to take a break of up to 6 months f

You can only take up to 2 payment holidays and these must be at least 12 months apart.

You can reduce the monthly payments to as little as £3.95 a month. But this will reduce the amount that we pay out when you die. If you already pay £3.95 or less, you cannot reduce the monthly payments further.

The Royal London Mutual Insurance Society Limited

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after 30 days

u can stop your insurance at any other time. Once you tell us, your insurance will end on the day before your next monthly payment is due to be collected. Any monthly payments made to this date won’t be refunded

When your insurance starts, we’ll send you information about your right to change your mind and cancel your insurance. You have 30 days from the date you receive this information to do this. If you cancel within 30 days, we’ll refund any monthly payments you’ve made to us, unless we’ve already paid a claim under your insuranc

The maximum we’ll insure you for is limited to a total monthly payment of £50

business

available on o

www.aiglife.co.uk.

up to a maximum annual increase of 10%. W

If you die after your insurance has been active for two years, we’ll pay your insurance amount

If you die for any reason other than accidental death within the first two years of your insurance, we’ll pay one-and-a-half times the monthly payments you’ve already made, provided your insurance is active

In the event of accidental death within the first two years of your insurance, we’ll pay three times your current insurance amount, provided your insurance is active.

The protected insurance amount will always be lower than your insurance amount and will be calculated as follows:current insurance amount X number of monthly payments you’ve already madenumber of payment months between when your insurance started and your 90th birthday

f you cancel your insurance or stop making monthly payments, this is the amount we’ll pay when you die provided you’ve made at least half

protected insurance amount

we’ll cancel your insurance

you miss any payment and you don’t pay it within 30 days

You can ask for the increases to stop at any time

90t

Covéa Life Limited

he cover amount shall be paid as a one-off lump sum payment.

You have a 30 day ‘cooling off’ period d

You can still cancel your policy at any time after the ‘cooling off’ period ends, but we won’t refund your premiums

you can change your mind. If you cancel your policy within this period, we will refund any premiums you have paid.

f at any time you don’t pay your premium when it is due, we will write to you to let you know and will allow you 30 days to pay the outstanding premium.

£100

Our Over 50s Whole of Life Product is not a savings or investment plan and it has no cash in or surrender value at any time

covered

You are covered regardless of what causes your death. So you are covered if you die of disease, natural causes, illness or anything else.

The level of cover amount you have chosen is set out in the policy schedule and will be fixed for the cover period

If you were to die after you have had the policy for three years or more we will pay the cover amount

If you die during the first three years other than as a result of accidental death we will not pay the cover amount but will pay out an amount equal to the premiums you have paid.

If you were to suffer an accidental death during the first three years of your policy we will pay the cover amount

premium

you need to pay

Your premium is fixed from the start date and we promise not to increase it.

80

50

On your 90th birthday you will no longer have to pay any further premiums but your cover will continue for the rest of your life.

If within one year of the policy start date, you sustain bodily injury caused by an accident which solely and independently of any other cause results in death and death occurs within 90 days of the accident then the benefit will be paid to your legal representative.