What is life insurance?

Life insurance is a way to protect you and your loved ones. It pays out if you become terminally ill or die while paying for the cover. This could help to pay off your mortgage, cover bills, or leave a legacy. All life insurance has a term, which is the length of product. The term helps you plan for the future with financial decisions like a mortgage.

We’ve chosen to work with AIG Life Limited (AIG). They offer life insurance on its own, or with extra cover for cancer, heart attack, or stroke of a specified severity.

You can choose how much cover you want and how long it will last.

What's on this page?

AIG logo

Who is AIG?

We only offer life insurance from AIG. They’re an insurance provider that offers the added benefit of Smart Health. You’ll be dealing directly with AIG. YBS won’t give you advice. If you have any queries, you can call AIG.

YBS won’t charge you a fee for introducing you. If you choose to take cover out with AIG, we’ll receive a commission. It’s a percentage of the annual premium you’d pay while the policy lasts.

AIG are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.


What does AIG’s life insurance cover?

With AIG, you can choose between two levels of cover. 

Life insurance

Available to people aged 17 to 86
Pays out if you die during the term
Pays out if you’re diagnosed with a terminal illness during the term
Choice of single or joint policies
Second medical opinion and more, with Smart Health.

Critical 3 with Life insurance

Available to people aged 17 to 75
Get the same benefits as life insurance
Also covers you if you’re diagnosed with cancer, a heart attack or a stroke of a specified severity.

Coverage and cancellation

You're not covered if you...
Stop paying your premiums
Don’t provide correct information
Die, become terminally ill or are diagnosed with a critical illness outside of your policy term


Both of AIG’s life insurance products are term policies with no savings element. This means if you stop paying for the insurance there’s no surrender value. This differs to other life insurance products which will have a cash value component.
People dancing


What is Smart Health?

Smart Health provides access to a range of health and wellbeing services for you, your partner, and your children (up to age 21). Get unlimited access to Smart Health from day one, at no extra cost. 

This includes:
24/7 remote GP    
Online health check
Fitness plans
Mental health support
The number of mental health sessions will be defined when you first speak to your practitioner.
Smart Health is a non-contractual benefit provided by Teladoc Health that could be changed or withdrawn in the future. 

Dave's Story

Dave, a fit and active 55 year old smoker, was diagnosed with lung cancer in November 2021.

His story shows just how important insurance can be.
Link to video of Dave telling his story
“Make sure you’ve got this kind of support because for us it was a game changer.”
Note: This is an AIG Life real-life customer story who claimed in November 2021.

How does life insurance work?


Number 1

Choose the cover you want

You choose the type of cover you want, how much and how long.
Number 2

Apply online

Make sure all your information is accurate for a hassle-free payout.
Number 3

Make a claim

You or your loved ones can make a claim during the policy term.
Number 4

Get a payout

Any claim should be hassle-free, AIG paid out 99% of life insurance claims in 2022 (AIG claims stats 2022).


How much is life insurance?

Generally, the younger you are when you start a policy, the cheaper it will be.
The cost stays the same for the full term, so you don’t need to worry about it going up.


Life insurance myths

Life insurance never pays out

AIG paid out 99% of life insurance claims in 2022 (AIG claims stats 2022). By making sure you provide accurate information when you apply, any claim should be hassle-free.

It's too expensive

The price will vary depending on the cover you choose, your age and lifestyle, but as a general rule the younger you are, the less you will pay for life insurance. The cost stays the same for the full term, so you don’t need to worry about it going up. Get a quote to find out how much it could be for you. You also get unlimited access to Smart Health  at no additional cost.

My savings will be enough

You never know when you might need to use your savings for something else. Life insurance can give you peace of mind, the comfort of knowing that if you pass away within the policy term your loved ones will have a lump sum to help them manage.

I'm too young for life insurance

The sad truth is that you never know when you might need to claim. How would your loved ones cope financially if the worst did happen?


Important information before you get a quote
Please read ‘Important information about life insurance’ before you continue.  

If you’re thinking about getting a mortgage with YBS, you don’t have to get life insurance with AIG to be accepted.
Need more help?
If you need more help, please call AIG

0330 390 0520

8am to 8pm Monday to Friday
9am to 5pm Saturday
Calls to 03 numbers are charged at the same rate as 01 or 02 numbers from all phones.