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ORX - Request to Flex your Life Assurance Cover

In the unfortunate event of your death during your employment at ORX, AIG will pay out a lump sum to your nominated beneficiary. As standard you are covered for a benefit of 4x basic annual salary with the option to flex up to a maximum of 10x salary subject to a maximum benefit amount of £5,000,000, in steps of 1x salary.

FAQs

When can I flex up?
If you would like to flex up your Life Assurance cover, you are able to do it when you join the business (within 2 months of your first date of employment, at the policy renewal (1st June 2025), or if you go through a lifestyle event (see below). The same goes for flexing down.
How much can I flex up?
You are able to flex up as many levels as you like at renewal and if you have a life event and are able to flex down as many levels as you like to a minimum of 4x salary at each opportunity.
What is considered a lifestyle event?
Birth / adoption of a child / returning to work after maternity leave

Death of spouse / partner / child

Marriage / civil partnership / start of a partner relationship (clearly defined relationship where there is evidence of

financial dependence and lasting over six months)

Divorce / dissolution of civil partnership / ending of partner relationship

Secondment overseas

Return from overseas secondment (providing not due to ill health)

Change from full time to part time (providing not due to ill health) or from part time to full time

Moving home (completion of purchase of property used for main residence)

Reduction in base salary (providing not due to ill health)

Increase in base salary (increase has to be 10% or more)

Promotion

Redundancy of partner

Start of long term absence (decrease only). Long term absence is defined as absence due to ill health which is expected

to last (or has lasted) for more than 12 consecutive weeks

Return from long term absence (maximum increase is to the flex level in place immediately prior to absence). Long term

absence is defined as absence due to ill health which is expected to last (or has lasted) for more than 12 consecutive weeks