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Ageas plans whole of life LTC plan

Ageas UK is planning to launch a whole of life protection plan with an option to cover the cost of long-term care.

The insurer says the product will launch once the acquisition deal by US-based AIG is complete, which is expected in Q1 next year. The deal is subject to regulatory approval.

The product will launch under the AIG brand.

Ageas UK head of marketing and propositions Steve Casey says: “At this stage we are still in talks with our reinsurance partners. But we can confirm we will be bringing out a whole of life product next year, with a long-term care rider attached.

“We don’t yet have a date nailed for the AIG rebranding but we are looking at Q1 2015 and it is most likely that the new whole of life plan will be unveiled in AIG colours.”

In October, Money Marketing revealed similar plans from PruProtect, which has since rebranded as VitalityLife.

Zurich announced in November it was eyeing a new whole of life policy with an added long-term care policy, earmarked for early next year.

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