Ageas, formerly Fortis, is one of Europe's largest banking and insurance companies with headquarters in Belgium. Fortis Life UK Ltd was launched in 2008 as its long-awaited entry into the UK individual protection industry - stating they would give the Uk life insurance market a much-needed boost. The product range was sold widely via various affinity partners, ifa's & brokers. 

In 2011 Fortis Insurance rebranded & changed their trading name to be known as Ageas Insurance with their life insurance protection rebranded from Fortis Life Insurance to Ageas Protect. In 2012 they also acquired Groupama Uk operations.

In 2015 Ageas sold Ageas Protect to AIG & changed its brand name to AIG Life Ltd. 

Ageas Protect Life Insurance had 3 main protection products - YourLife Plan and Real Life Cover as well as a Low Start product; They are menu protection plan products for both personal or business cover and similar products are available now via AIG UK. 

 Looking in 2020 to compare old AGEAS Life Insurance products (Now AIG Life Uk) or new AIG Life Insurance

 AGEAS PROTECT INSURANCE -  OLD PRODUCT REVIEW 2020

AGEAS - MORTGAGE PROTECTION 

Designed to cover a repayment mortgage on death as it decreases during the plan term.

AGEAS - WHOLE LIFECOVER 

A policy that will always payout whenever death may occur.

AGEAS PROTECT LIFE INSURANCE 

Offering family protection if the policy holder dies or is diagnosed with a terminal illness during the term. Premiums maybe level or low start reviewable

AGEAS - CRITICAL ILLNESS COVER  

Helps ease financial worries if you or your children are diagnosed with a critical illness as specified by Ageas Life Insurance.

AGEAS - INCOME PROTECTION 

Providing security by way of an income if you are off sick or have an accident or disability.

AGEAS - OVER 50'S LIFECOVER 

A no medical evidence policy that always payout whenever death may occur but only after an initial period.

AGEAS - BUSINESS PROTECTION 

Offering company protection for a key person, loan cover, share protection, an employee dies or is diagnosed with a critical illness.

Compare old Ageas Life Insurance against Uk Insurers

AGEAS LIFE INSURANCE - Frequently Asked Broker Questions

Can you make changes to your Ageas Protect life insurance policy ?

In terms of changing your life insurance policy, often you can request some of the following via AIG:

• reduce or perhaps extend the period of cover
• decrease or increase the amount of lifecover
• remove indexation option or any specific paid for policy features
• change the collection date of your usual premiums
• remove a life assured from a joint policy
• joint life policy separation, allowing a joint policy to be split into 2 new single policies if a couple divorce, split up or say change a joint mortgage into a sole name. 

The changes could be subject to medical underwriting based on your circumstances at the time & may well affect your premiums.

What if my health or lifestyle changes after I have taken the policy out ?

Life Insurance cover is based on full disclosure at the time you took the policy out ie; being 100% as honest & accurate as possible. So any health or lifestyle changes since usually does not void your existing policy, as it wasn't relevant at that time of initial application. Please check your original T&C's 

How do I make a Death Claim ?

Check firstly if premiums are still being paid or alternatively is the policy perhaps "paid up" meaning no further premiums were needed. 

Then contact the Insurers claims line to inform them. They will provide you with their claim form for completion. You will need to send in a number of documents, most importantly being the death certificate proving the cause of death.

Insurers ( as well as other Providers ) will need the original death certificate, so ideally ask for several certified copies. Enclose your policy document, if you can find it and then send by recorded delivery or registered post to Insurers. 

Once received, the Insurers usually cross check all information before processing and settling a valid claim ie; was the medical & lifestyle information correct at the time of original application

If everything is hopefully in order, the Insurer may pay out a claim & usually in a matter of days or weeks.

Death Claims, Ageas Protect Life Insurance Trusts & Life of Another

Who the life insurance maybe actually then paid out to can be more complicated & many people wrongly assume it is a simple process.

If it is a joint life 1'st death policy or if it single life policy owned by another person " life of another"  then it will just be paid to the survivor. 

However, if it is a single life policy it can be more complex. Check if the policy was setup & written into a trust. If so the Insurer will pay the life insurance via the trustees named to the nominated beneficiaries directly. Sometimes there are a named beneficiary & others times a list of potential beneficiaries. The life insurance paid out doesn’t have to be included in the legal documents sent for probate and potentially it won’t be liable for inheritance tax either.

Should I put my Ageas Life Insurance policy into Trust ?

If the life insurance wasn’t written into trust, it will be paid to the executors of the deceased’s estate. They will handle the administration, known as probate in N Ireland, England, Wales and confirmation in Scotland. If not, the benefits will fall into your estate if you died prematurely. If you have not made a will this can then cause further complications with the life insurance monies.

Until probate is fully granted, no monies can be paid out to those named in the will. On average, this can take upto 6 months. By not placing the plan into trust may also swell up the total estate values, leading to potentially Inheritance Tax IHT issues

So placing a policy in trust can help to ensure that the policy proceeds go to the correct beneficiaries you decide to nominate at that stage & help avoid possible probate delays & IHT costs. Ask the Insurers if they provide any standard trust form wordings & seek legal advice if unsure.

Can I get another Ageas (now AIG) Life Insurance Policy ?

Yes ( click link to AIG Life Insurance review). There are many different types of schemes available. Please get a no obligation quote from our website first to get an idea of both cost & terms available; it is best to speak to one of our Professional Advisers before buying.

Will I be tested by Ageas Life Insurance Company - To proove I am a non-smoker ?

How do Insurance Companies know if you smoke ? If you declare yourself a non-smoker on the life insurance application, there is a possibility you will maybe also asked to undergo a cotinine test to prove you have quit smoking ie; ex smoking status. This test checks your nicotine levels & reads how long absent this is from your body. No point in lying when you apply, as your policy may not payout & you could waste the premiums and leave your family devastated.

Is e-cigarettes (Vaping), Gum or Patches - still classed as Smoker or Ex Smoker for Life Insurance ?

These newer alternative liquid form vaping smoker products may state they reduce the risk on your health, but many Insurers can still classify this as smoking ( but some may apply better terms...please ask us for advice here.) ie; No nicotine based products for at least 12 months.

If I started smoking after taking out Life Insurance - Do I need to now tell Ageas ?

If you had legitimately stopped smoking for over 12 months at that time of original application, you may wish to advise the Insurers you have started smoking again - but this should not affect the original policy terms which should still stand - you were being honest. Also maybe suggest letting your GP know if this is the case. 

Review on: Ageas Protect Life Insurance ~ for more information visit www.ageas.co.uk or www.aig.co.uk*

( * Note: You are now leaving the regulated site of Uk Life Insurance Quotes. Neither ourselves, nor Sesame Ltd, is responsible for the accuracy of the information contained within the linked site.)

FOR PROTECTION PRODUCTS WE USUALLY OFFER FROM A RANGE OF PROVIDERS
For products with an investment element we will introduce you to an authorised adviser

Ageas Life Insurance Company Review 2020 

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