Homepage

New Parents…New Business

 New Parents…New Business

Free, as in ‘free’? There’s no such thing, or that was how it used to be. It’s rare
to find something revolutionary in the protection market these days, but Aviva’s free life cover for new parents is a revolutionary offer to raise awareness of the needs for family protection.

Parenting Problems

It’s a well recognised fact that the protection gap in the UK is somewhere in the region of £2.3 trillion. And despite the best efforts of the industry this figure keeps rising, which leaves more and more families in the UK at risk.

Over half of the UK population have no life insurance and those that do think it’s just to protect their mortgage payments. The vast majority of young families we’ve spoken to didn’t think life insurance was there to help with future family expenses. Even worse, they hadn’t considered the implications of not having some in place…

Having a child is a key event in everyone’s life, but arranging life insurance
does not always top the to-do list. So, we’re offering free life cover for new
parents until their child’s first birthday. Application has to be completed before
the child’s six months old, the plan will provide £10,000 life cover for each parent who applies. For example, if both parents apply this could mean £20,000 of cover for each child (£40,000 for twins, £60,000 for triplets).

We know, and you know, this is only a fraction of the cover a young family
needs. But it’s a fantastic way to raise awareness of life cover needs with
young families in the UK and, at the same time, provide them with some
protection.

Why are we doing this?

Louise Colley, Head of Protection said; “We are bringing to market a truly
revolutionary offer in the protection market, the aim of which is to encourage all families to consider their protection needs. “People who are starting a new family, or planning for a new addition, frequently draw up lists of things they need to do and things they need to buy. From conversations with new parents, we know that life cover rarely, if ever, features on their ‘to do’ lists – when really it needs to be near the very top.
 “New parents should be thinking of life cover in a similar vein to travel safety seats. Admittedly, it’s not the most emotionally involving thing, but it’s a vital item to protect a young family.”

Building new relationships, strengthening old ones

Throughout July and August we will be running a campaign across TV, press
& online to help raise awareness of the free live cover offer. It will highlight the
need for life cover in young families and promote the need to speak to an
adviser.

Many advisers will have young families on their books, and almost all will have grandparents or soon-to-be grandparents as clients. Our research has shown that new parents will really appreciate this offer. That’s why we’re also making sure sample emails and letters are available to help you raise awareness where you think it’s appropriate. Everyone wants to know about a free offer; whether it’s for them or someone they care for.

Louise added; “Free life cover is a fantastic offer and one of the ways we can all work together to bridge the protection gap. In the current economic climate, it’s also a great opportunity to re-engage with an advisers’ clientbase – and potentially find new additions.

 “Before we designed this offer, we listened carefully to the needs of our customers, and I think that really comes through. We also listened really closely to what advisers have told us. The key is to create an innovative proposition, to make people think and then take action about their finances at a key stage in their lives – and we think this will do the trick.”

Terms, conditions and exclusions apply – you can find out more and apply on Aviva for Advisers. As the offer only provides a fraction of the cover a young family needs, it can be used as a bridge to help clients truly assess and cater for their future protection needs.

WA07248 07/2009