Aviva Life Insurance: Is It A Smart Choice?

Aviva is a leading and award-winning life insurance provider in the UK with more than 325 years of industry experience. They have a range of life insurance policies, including level term life insurance, decreasing term life insurance, and life insurance with critical illness cover. In 2023, Aviva paid out 99.3% of all life insurance claims and 91.6% of all critical illness claims. Their life insurance policies can come with many added benefits at no extra cost, such as house purchase cover, terminal illness cover, and separation benefit. Aviva life insurance policies also have several optional benefits that can be added for an additional cost, such as fracture cover and global treatment cover. Aviva life insurance starts from as little as £3.50 a month.

Aviva's life insurance policy options

Aviva offers two types of term life insurance: level term cover and decreasing term cover. Both policies provide cover for a set term (1-50 years) and will pay out if you pass away during this term. You can apply if you're aged 18-77.

Aviva Family Life Insurance - Level Term

Level term life insurance provides a fixed sum assured (cover amount). It could help to cover large debts like an interest-only mortgage, monthly bills, and future family living costs.

Aviva Mortgage Life Insurance - Decreasing Term

Decreasing term life insurance provides a sum assured that reduces over the policy term, typically in line with a repayment mortgage. It features low monthly premiums.

Aviva Life Insurance and Critical Illness Cover - Level or Decreasing Term

Critical illness cover can be added to an Aviva term life insurance policy for an additional cost. It pays out if you're diagnosed with a certain critical illness or pass away during the policy term. It covers up to 35 medical conditions, including heart attack, diabetes type 1, cancer, and stroke. It is available to applicants aged 18-64.

Aviva's life insurance benefits

Aviva is a leading and award-winning life insurance provider in the UK with more than 325 years of industry experience. The company has a range of benefits for its customers, including:

House Purchase Cover

Receive 90 days of free life insurance if you're taking out Aviva life insurance to cover your mortgage (up to £500,000). The free cover will start once your application has been accepted, you've exchanged contracts, and the purchase of your new home is completed. This benefit is available with qualifying term policies.

Terminal Illness Cover

All term policies come with terminal illness cover as standard. This allows you to make an early claim if you're diagnosed with a life-threatening illness and are predicted to pass away within 12 months. The funds can be used to help your dependents cope with the loss of income, pay for homecare, or make adaptations to your home. This benefit is only available with term policies.

Aviva DigiCare+ App

When taking out life insurance with Aviva, you can receive free access to the DigiCare+ app, which provides annual health checks, discounts on gym memberships, nutritional advice, mental health counselling, and more. This benefit is available with qualifying policies.

Separation Benefit

This benefit allows you to split a joint policy into two single policies if you separate from your partner, without any additional cost. You won't need to provide any extra medical information to take out the new policies. This benefit is only available with qualifying joint term policies and joint critical illness policies.

Guaranteed Insurability

Also known as guaranteed insurability, this benefit allows you to increase your life cover (up to a maximum of £200,000) if your circumstances change during the policy term. Life-changing events can include marriage, divorce, a new baby, or taking on a bigger mortgage. You won't need to provide any medical information to take out more cover. This benefit is only available with qualifying term and critical illness policies.

Children's Critical Illness Cover

Receive free cover for your children if you take out critical illness cover. If your child is diagnosed with a critical illness defined in your policy (up to 32 illnesses), Aviva will pay out 50% of the cover amount to a maximum of £25,000. Additionally, if your child passes away during the policy term, Aviva will pay a children's death benefit of £5,000. This benefit is only available with qualifying critical illness policies.

Aviva's life insurance costs

Aviva offers two types of term life insurance: level term cover and decreasing term cover. Level term cover allows the insured to choose a lump sum to leave behind for their loved ones, with the monthly premium remaining the same throughout the duration of the policy. Decreasing term cover, on the other hand, is more suitable for those with a repayment mortgage as the amount of cover decreases over time in line with the decreasing amount of the outstanding mortgage loan. The premiums for this type of cover are generally cheaper than level cover.

In addition to these, Aviva also offers Over 50 Life Insurance, which is a whole-life policy for those aged between 50 and 80. This policy has fixed premiums and does not require a medical or health check.

Aviva also offers the option to add critical illness cover to a term life insurance policy for an additional cost. This provides a tax-free lump sum in the event of a critical illness diagnosis or death during the policy term.

The exact cost of Aviva's life insurance policies will depend on the applicant's personal circumstances, including age, health, and whether they smoke.

Aviva's life insurance reviews

Aviva is a leading and award-winning life insurance provider in the UK with more than 325 years of industry experience. It is the largest life insurance provider in the UK and has a strong global presence, serving over 19 million customers across the UK, Ireland, and Canada.

Aviva Life Insurance Reviews

Aviva has received positive reviews from its customers, with an overall rating of 4.15 out of 5 stars based on 103 reviews. Here is a summary of customer feedback:

• Good overall, great communication
• Reliable and clear, easy to understand
• Wonderful product and company, with great service and excellent customer experience
• Simple and honest company
• Easy to deal with, seamless process for changing name, address, and payment date
• Efficient and reliable

Aviva has also received recognition from industry experts, with its Life Insurance+ and Life Insurance+ upgraded products rated 5 out of 5 stars by Defaqto. Trustpilot reviews rate Aviva insurance as 'Great' with 4.1 out of 5 stars derived from over 38,000 reviews.

Aviva Life Insurance Policy Options

Aviva offers a range of life insurance policy options, including:

• Level term life insurance
• Decreasing term life insurance
• Over 50 life insurance
• Whole of life insurance
• Family income benefit
• Critical illness cover
• Family life insurance

Aviva Life Insurance Benefits

Aviva life insurance policies come with several benefits, such as:

• House purchase cover: 90 days of free life insurance when buying a property
• Terminal illness cover: included with all term policies, allowing early claim if diagnosed with a life-threatening illness
• Separation benefit: the ability to split a joint policy into two single policies without additional cost
• Children's critical illness cover: included for free when taking out your own critical illness benefit policy
• Free access to the Aviva DigiCare+ app, offering health and wellbeing services

Aviva is considered a good insurance company by many, with a strong reputation and a history of paying out around 99% of claims each year. They have accumulated several industry awards and have received thousands of positive reviews from customers.

However, as with any insurance company, there may be some drawbacks depending on individual needs and circumstances. Some potential disadvantages to consider include:

• Aviva Simple life insurance does not include free benefits or optional extras
• Aviva DigiaCare+ benefit can be removed at Aviva's discretion
• Like other term-based life insurance policies, there is no cash-in value

Aviva's life insurance claims

Aviva is a leading and award-winning life insurance provider in the UK with more than 325 years of industry experience. In 2023, Aviva paid out 99.3% of life insurance claims, totalling £761.7 million.

• Eligibility: To be eligible for an Aviva life insurance policy, individuals must meet specific criteria. Applicants must be between the ages of 18 and 77, with the exception of over-50 life insurance policies, which cater to individuals aged 50 to 80. It's important to note that Aviva life insurance is available only to UK residents with the legal right to live in the country.
• Application Process: Aviva offers a quick and simple application process. Most customers receive a quote and a decision in just over five minutes. During the application, it's essential to disclose any medical conditions and provide accurate information. There may be a medical exam for which Aviva covers the cost.
• Policy Options: Aviva provides various policy options to meet diverse needs, including level term life insurance, decreasing term life insurance, and life insurance with critical illness cover. These policies can be tailored to cover one or two individuals.
• Cost of Premiums: The cost of Aviva life insurance premiums depends on the level of coverage selected and the applicant's personal circumstances. Premiums can start from as little as £3.50 per month through Reassured, and Aviva offers a 10% discount for existing customers.
• Claims Payout: Aviva has a strong track record of paying out life insurance claims. Once a valid claim is accepted, Aviva typically makes the payout within a week. The company paid out 99.3% of life insurance claims in 2023, amounting to a significant financial support for the beneficiaries.
• Customer Service: Aviva is known for its excellent customer service. They provide easy access to policy information and management through the 'MyAviva' app. Additionally, their 'DigiCare+' app offers policyholders access to health and wellbeing services, including annual health checks, mental health counselling, and nutritional support.
• Additional Benefits: Aviva life insurance policies come with a range of added benefits at no extra cost. These include house purchase cover, terminal illness cover, separation benefit, and children's critical illness cover. There are also optional benefits available for an additional cost, such as fracture cover, global treatment cover, and extra care cover.
• Trust and Wills: Aviva provides the option to write life insurance policies in trust, allowing customers to assign a trustee to control the policy after their passing. This helps to avoid or minimise inheritance tax, bypass probate for faster payout, and ensure that the payout goes to the intended beneficiaries.
• Customer Reviews: Aviva life insurance has received largely positive reviews from customers. On Trustpilot, they are rated 'Great' with numerous testimonials highlighting their efficient claims process, excellent customer service, and comprehensive coverage.

In summary, Aviva life insurance claims are a reliable and trusted aspect of their service. With a high payout rate, a range of policy options, and additional benefits, Aviva provides financial protection and peace of mind for individuals and their loved ones.

Frequently asked questions