Aviva Life Insurance: Why It's Worth Your Attention

Aviva is a trusted and well-rated insurance company that offers a range of life insurance plans to cater to different customer needs. Aviva's life insurance provides financial support to your loved ones in the event of your passing or diagnosis of a terminal illness. The company offers term life insurance with level or decreasing cover options, allowing customers to choose their desired level of protection. Aviva's life insurance plans are flexible, with coverage periods ranging from 12 months to 50 years, and the ability to adjust the amount of coverage over time. The company has a simple claims process and a dedicated customer support system, ensuring a smooth experience for its policyholders. Aviva also provides additional benefits, such as the MyAviva app, which enables customers to conveniently manage their policies, and cost-of-living support schemes to assist those facing financial challenges.

Aviva's life insurance offers a financial safety net for your family if you pass away

Aviva offers two types of term life insurance: level cover and decreasing cover. Level cover provides a fixed sum that remains the same over time, which can help your family keep up with mortgage payments or pay off an interest-only mortgage. On the other hand, decreasing cover is more suitable for those with interest-only mortgages, as the cover amount decreases over time, in line with the remaining mortgage balance.

Aviva's life insurance is flexible and can be tailored to your needs. You can choose the length of coverage, ranging from 12 months to 50 years, and the amount of cover you require. Additionally, Aviva allows you to increase your cover in line with inflation to ensure the lump sum maintains its value over time.

Aviva also provides a range of tools and resources to help you manage your policy, such as the MyAviva app, which allows you to access your policy details, documents, and payment information securely. They also offer a cost-of-living support scheme to assist customers who are facing financial challenges by providing options to reduce monthly premiums and payments.

Aviva's life insurance provides peace of mind, knowing that your loved ones will be financially protected in the event of your passing. With their range of options and supportive features, Aviva helps ensure that your family's future is secure.

Aviva's life insurance includes terminal illness cover

Aviva's terminal illness cover is part of their Life Insurance Plan, which also includes level and decreasing cover options. Level cover provides a lump sum amount that stays the same over time and can help your family with mortgage repayments or paying off an interest-only mortgage. On the other hand, decreasing cover provides a level of cover that decreases over time, which can be suitable for those with a repayment mortgage or long-term loan.

Aviva's life insurance is designed to provide financial support for your loved ones after you're gone. It can help them pay off the mortgage, cover the costs of raising children, or manage monthly bills. You can also choose to place your life insurance policy in a trust, which can give you more control over who receives the payout and may also be exempt from inheritance tax.

Aviva also offers a range of other features and benefits with their life insurance, such as the ability to manage your policies on the move through their MyAviva app and access to their DigiCare+ app, which offers health and wellbeing services.

Aviva's life insurance can help pay off your mortgage

Aviva's life insurance can help you pay off your mortgage in several ways. Here are some key points to consider:

Types of Life Insurance Offered by Aviva

Aviva offers two main types of life insurance that can help with mortgage protection: Level Term Life Insurance (also known as Family Protection Insurance) and Decreasing Term Life Insurance (also known as Mortgage Protection Insurance).

Level Term Life Insurance

Level term life insurance provides a fixed sum of money that remains the same throughout the policy term. This type of insurance can be used to cover an interest-only mortgage, where the outstanding loan amount stays the same until the end of the mortgage term. Additionally, you can choose to protect your cover from the effects of inflation by increasing the lump sum payment in line with rising prices, although this will result in higher monthly payments.

Decreasing Term Life Insurance

Decreasing term life insurance is specifically designed with mortgages in mind. The cover amount decreases each month, similar to how the outstanding balance of a mortgage decreases over time. This type of insurance is suitable for capital and interest repayment mortgages. Since the payout reduces over time, it may cost less than other types of term life insurance.

Benefits of Aviva's Life Insurance for Mortgage Protection

Aviva's life insurance offers several benefits that can help with mortgage protection:

• Lump-sum payment: Aviva's life insurance provides a lump-sum payment that can be used to pay off the outstanding mortgage balance, ensuring your family can stay in their home.
• Protection during the home-buying process: Aviva offers up to 90 days of free life insurance during the house-buying process when you take out a life insurance policy with them.
• Terminal illness cover: Aviva provides terminal illness cover, which means you can receive a lump-sum payment if you are diagnosed with a terminal illness and are not expected to live longer than a year.
• Flexibility: Aviva's life insurance plans allow you to choose the length of cover, from short-term to 50 years or until a certain age.
• Separation benefit: In the event of a separation from your partner, some joint policies can be split into two single policies.
• No direct link to your mortgage: Your life insurance policy is not directly linked to your mortgage. This means that if you pay off your mortgage early, your life insurance policy will continue until the selected end date, providing ongoing financial protection.
• Inflation protection: You have the option to increase your cover amount in line with inflation to ensure that the lump sum maintains its value over time.

In conclusion, Aviva's life insurance offers comprehensive mortgage protection. Whether you're a first-time buyer, moving up the property ladder, or a landlord, Aviva's life insurance can provide peace of mind and financial security for you and your loved ones.

Aviva's life insurance offers flexibility with payment holidays and cost-of-living support

The cost-of-living support scheme allows you to lower your monthly payments by reducing your amount of cover. You can make a permanent change to your policy using an online form. Aviva also offers a three-month payment holiday if you're facing a short-term squeeze on your income. For example, if you're starting a new job, your bills have temporarily increased, or you've taken time off work to care for a family member.

Aviva also offers flexibility in terms of the type of cover you can choose. You can opt for level cover, where you choose a lump sum to leave to your loved ones and how long you want the cover to run for. Alternatively, you can choose decreasing cover, where the cover amount decreases over time, in line with a repayment mortgage or long-term loan that you're repaying. Your premiums stay the same during the term of the policy, unless you make changes to the cover. Decreasing cover usually costs less than level cover.

Aviva's life insurance also offers flexibility in terms of the length of cover. You can choose how long you want to be covered for, ranging from just 12 months to as long as 50 years. This allows you to align your cover with your mortgage length or the number of years until your children start earning an income.

Aviva's life insurance can be managed via the MyAviva app

Aviva's life insurance offers a range of appealing features, including the ability to manage your policy via the MyAviva app. This means that you can easily access and manage your policies on the go, from the convenience of your mobile device.

With the MyAviva app, you can securely log in to your MyAviva account and view all your policy details in one place. You can check your payments, access important documents, and stay on top of your start and end dates. The app also provides access to exclusive discounts on selected products for existing customers.

Additionally, Aviva's life insurance provides financial support for your loved ones in the event of your passing or diagnosis of a terminal illness. It offers different types of term life insurance, including level cover and decreasing cover, to suit your specific needs. You can choose the length of your coverage, ranging from 12 months to 50 years, and decide on the amount of coverage you require.

Aviva also offers a range of additional benefits, such as critical illness cover, Over 50s Life Insurance, and Income Protection Insurance. Their customer service team is dedicated to assisting you with any queries or changes to your policy, ensuring a smooth and stress-free experience.

Overall, Aviva's life insurance provides comprehensive coverage, flexibility, and accessibility through the MyAviva app, making it a convenient and appealing choice for individuals seeking financial protection for their loved ones.

Frequently asked questions