AGEAS LIFE INSURANCE
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.
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 2021 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.
AGEAS LIFE INSURANCE UK - 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:
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
This website is intended for UK consumers & any information contained therein is for Generic Guidance only and is not to be construed as advice.
By completing one of our no obligation quotation request forms, you may be provided with comparison protection quotes, key facts from leading Providers - based just on the basic information you have provided. Note: These quotes will not take account of any personal, health or lifestyle issues unless a full application is completed. You also consent for us to then kindly contact you by phone - where we may offer Professional Broker help & guidance if needed. We may as appropriate then help to arrange a suitable protection policy based upon your own circumstances & needs after a further review by "advice & recommendation". This will usually be on a non face to face basis.
For products with an investment element we will introduce you to an authorised adviser. We act as introducers for Accident, Sickness and Unemployment and Mortgage Payment Protection Insurance plans. We may also introduce you to other selected professional partners for other protection or legal products as deemed appropriate. Online Dispute Resolution (ODR) - https://webgate.ec.europa.eu/odr/main/index.cfm?event=main.home.chooseLanguage. Financial Ombudsman. https://www.financial-ombudsman.org.uk We nominate to fundraise for Great Ormond Street Hospital Charity.
UK Life Insurance Quotes is a trading style of Martyn Spencer which is an appointed representative of Sesame Ltd which is authorised and regulated by the Financial Conduct Authority FCA. FCA Register No: 416331
Here at Uk Life Insurance Quotes we take your privacy seriously. Subject to GDPR rules 2018 - We will only use your personal details provided to help provide & arrange the various products & services you have requested via us as brokers. We are registered to comply with the 2018 General Data Protection Regulation GDPR / Sesame re GDPR / IDD Personal information is secure online, not misused or sent via spam. T&C:Cookies