Aviva’s Life Insurance Plan
Aviva Life Insurance is a 5* rated product according to an independent product quality assessor Defaqto. According to the Association of British Insurers, they have a 15% share of the life market in the UK and 12 million customers. The latest figures available from Aviva are for 2014 where they paid out 99.3% of life insurance claims totalling £340 million to 11,198 families in the UK where the policy holder died or benefited from a terminal illness claim.
Why Choose Aviva Life Insurance?
- Year on year Aviva life insurance pay out a high percentage of life insurance claims, so you can rest in the knowledge that your insurance is in safe hands.
- They pay out terminal illness cover right up to the last day of the policy term whereas some companies don’t pay out on this benefit in the last 12 months.
- Aviva’s customer service is top notch so if you ever need to contact them, rest assured you will be looked after.
- In the unfortunate event there is a loss in the family, Aviva work in close partnership with Grief Encounter – which offers children that are suffering with bereavement support.
- They offer a conversion option if selected when taking out the policy, you can convert your policy to either an endowment policy or whole of life insurance.
What is Terminal Illness Cover?
Life insurance comes with free terminal illness benefit. This means that the policy will pay out if you are diagnosed with a terminal illness within the policy term that meets the policy definition and aren’t expected to live for more than 12 months. Aviva life insurance pay out on terminal illness benefit right until the last day of the policy term. If you are paid out on a terminal illness claim your policy ceases, however if you make a full recovery you do not have to pay the insurance company back.
How does Aviva’s Critical Illness Insurance Compare?
Aviva’s critical illness insurance is a 5* defaqto rated product (according to an independent product quality assessor) and currently covers 55 illnesses. They include children’s benefit as standard which pays out an additional lump sum if your child is diagnosed with one of the children’s critical illnesses they cover. The payout is 50% of your cover up to a maximum of £25,000 e.g if you are covered for £50,000 your children are automatically covered for £25,000. For 2014 Aviva paid out £161 million in critical illness claims to 2,246 families in the UK, with 93.2% of received claims being paid out.
Get in touch with one of our advisers today who can advise you on your best life insurance options.