AIB Lifelong Protection Plan

This product provides life assurance cover for all of a policyholder?s life, for a set monthly or annual cost which will never increase once the policy goes into force (regardless of age). The plan can be used to help your family or dependents replace lost income or repay debts, should you or your partner become deceased.

Who this plan suits?

• It is ideal for people who are unsure how long their need for life assurance cover will last or for those who need to make provision for an inheritance tax liability.
• The plan can cover one or two people and can be set up on a joint life or dual life basis
• This plan can be set up as a 'Section 72' type plan, to provide dependents with a lump sum contribution towards an inheritance tax bill
• This plan can also be used as life assurance to protect your mortgage debt.

Additional Features

(For full terms & conditions of each of these features and for eligibility please arrange an appointment with an AIB Financial Adviser who will explain the features, terms and conditions in full)

• The policy premiums stay constant.  The policy premiums stay the same throughout the plan. If the policyholder stops paying the premiums, cover will cease and the plan will have no cash-in value.
• Inheritance tax provision -  The plan can be used to provide life assurance cover to meet the amounts of inheritance tax that a policyholder's beneficiaries will have to pay on their bequests. As a result, they should find themselves in a position where they don't have to sell the assets that they inherit, in order to pay the tax. Provided that the proceeds of the plan are only used to pay the tax due, the sum payable on death will not itself be liable to inheritance tax.
• Increase your cover free of medical evidence - The AIB Lifelong Protection Plan includes the option for a policyholder to increase their life assurance cover on specified dates or events, regardless of the policyholders state of health at the time subject to strict terms and conditions.
• Immediate cover - While your application is being considered, the plan will provide free accidental death cover (up to a maximum of EUR150,000).

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