AIGDec 24 2020

AIG changes game with CI cover revamp

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AIG changes game with CI cover revamp

AIG's new approach to critical Illness cover has been welcomed by many.

It has stepped away from the numbers race – a competition over who can cover the most conditions – and instead focused upon greatly improving and widening their definitions.

Not naming certain conditions, like Parkinson’s disease, and instead saying "any neurological condition of a specified seventy", is highly welcome.

It has opened the door for people to submit claims for conditions such as Huntington's disease and Ataxia (meeting the severity definitions), that would have previously been limited to a total permanent disability definition.

Advisers are also now often faced with core cover, enhanced cover, options to include or exclude children’s cover or total permanent disability, guaranteed or reviewable premiums – it is a lot to consider.

So AIG has run a series of webinars to help advisers understand the new proposition and engage clients.

Webinars focused upon reinvigorating the sales process, product walkthrough and expert takes on medical developments influencing CI are a must. I welcome sessions that discuss medical developments and how they influence access to insurance.

It is not always easy for advisers to understand why certain decisions are made on client applications. By offering this webinar, AIG is demonstrating that they have listened to advisers and are prepared to engage and develop advisers' understanding of underwriting.

AIG is also seeming to lead the way when it comes to their social media outreach. 

Kathryn Knowles is managing director of Cura Financial Services