An update on AIG Life’s Individual Protection business
Following the purchase of AIG Life in April, we’ve been working closely together to understand what the integration of the business will look like, with the aim of giving intermediaries and your customers certainty on our products open to new business. Aviva is focused on ensuring our customers, intermediaries, partners and colleagues benefit from the combined strength, knowledge, and expertise we’ve gained through this acquisition.
Today we’re letting you know about the first stage of this integration and our transition towards a single proposition.
Customer proposition
Firstly, as we have highlighted throughout the deal acquisition stage, Aviva is keen to retain several of the attributes of AIG Life’s business, specifically their successful High-Net-Worth channel and strong partnership distribution.
Whilst Aviva do have a High Value proposition, we do not currently offer some of the options available under the AIG Life High-Net-Worth Premier proposition. For those firms that have worked closely with AIG Life in the High-Net-Worth market, we will be retaining the AIG Life High-Net-Worth proposition for them.
In addition, we will also be remaining open for the AIG Life existing single-tie partnership relationships and contractual panel commitments. We will contact those firms directly.
Outside of the above, during our comprehensive review, we have found a lot of similarity with the core AIG Life UK and Aviva propositions. As such, our go forward offering will be the current Aviva branded propositions and we will close the existing AIG Life branded propositions to new business in a timely manner as detailed below.
We remain fully committed to understanding what additional learnings we can take and adapt to further strengthen our core Aviva proposition across the next stages of integration which we will communicate to you once these can be shared.
AIG Life quotes and new business timeline
Today we are giving notice that the final submission date for new AIG Life branded quotes for intermediary distributors across both individual and group protection will be 23:59 on 15th August 2024. All individual protection quotes will remain valid for 30 days and applications submitted will remain valid until 15th February 2025 and we will work alongside you to support your pipeline business.
The timeline is tabled below for clarity, and we will work alongside you to support your pipeline business.
| New Business | What will happen, when |
| New AIG Life quotes | Remain available until 23:59 on Thursday 15th August 2024. |
| Existing AIG Life quotes | Any quote produced before 23:59 on Thursday 15th August 2024 will be honoured for 30 days as per the standard AIGL quote validity period and can progress into a submitted application. |
| New AIG Life applications | The last date for new applications to be submitted on valid quotes will 23:59 on Saturday 14th September 2024. |
| Existing AIG Life applications | Applications already submitted to AIGL will continue to be processed. The last date for applications to be placed on risk will be 23:59 on Saturday 15th February 2025. Applications in the pipeline can still be tracked in the usual way. |
What this means for existing customers
All existing customers can be assured that there is no change to their cover or benefits.
As we continue to work towards a smooth transition, we’ll share information when we can. In the meantime, more information can be found in our FAQs.