The Skipton Building Society has introduced new life and critical illness products.

The new deals are available to Skipton mortgage customers and Skipton’s one million existing customers.

Life insurance pays a single cash lump sum in the event of someone passing away or being diagnosed with a terminal illness where they are anticipated to die within 12 months.

Skipton’s new insurance products are provided by AIG Life Limited and come with a flexible application process. Customers can choose to begin the easy-to-apply-for insurance over the phone, then complete it online at a convenient time. The service will also be available in Skipton’s UK branch network from 11 September.

Maitham Mohsin, the Skipton’s head of savings and partnerships, said: “Life and critical illness insurance is a form of comfort that we should all have but hope to never need. So we’ve tried to make this as easy and effortless as possible for our customers.

“Latest statistics show that one in two of us will be diagnosed with cancer at some stage in our lives. So it may be something that no-one likes to think about, but life insurance provides peace of mind that your family can manage if you were no longer there to provide financially for them. In AIG we have selected a partner that demonstrates a real human approach and empathy towards customers. Our customers can also be reassured that should the worst happen and they need to claim, AIG paid out on 99% of their life insurance claims and 94% of their critical illness claims in 2018.”

Nicola Dryden, partnerships director at AIG Life, added: “It’s a truly selfless act when customers buy life insurance because the people who ultimately benefit are the loved ones they leave behind. And Skipton Building Society’s philosophy is to always do right by its customers and members long-term. Customers who buy this simple, easy to understand insurance can gain comfort that with AIG and Skipton working together, we will be there to help their families when they need it most.”