AIB Convertible Protection Plan

This product provides life assurance cover for a specified period of time (term assurance) with the option to extend the period of cover beyond the original term, with no requirement for further medical evidence. The plan can be used to help your family or dependents replace lost income or repay debts, should you or your partner pass away.

Who this plan suits?

• Term assurance can be a cost-effective way to protect your family against financial loss, by providing cover during the period when they need it most.
• The plan can cover one or two people & can be set up on a joint life or dual life basis
• This plan can also be used as life assurance to protect your mortgage debt.

Additional Features

(For full terms and 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 conversion option allows the policy holder(s) to convert their assurance policy to a new protection plan at any time before their 65th birthday. This means they may extend their cover beyond the term of their original policy, with no requirement for further medical evidence.  
• Terminal illness benefit – where 80% of the sum assured may be payable if a policyholder is diagnosed with an advanced or rapidly progressing incurable illness
• Indexation of premiums – A policyholder may choose at outset that the amount they have assured their life for will automatically increase by 5% each year, on the anniversary date of the policy. (premiums would also increase – as per the terms & conditions laid out in the brochure available from your AIB Financial Adviser)
• Immediate cover – While your application is being considered, the plan will provide free accidental death cover (up to a maximum of €150,000).

Back to Top