Mortgage Life Insurance
- Premiums start from as little as £5 a month.
- Clients can choose the level of life cover and plan term they want.
- Instant Decision Online (IDO) application system
- Online ‘virtual underwriter’ enables you to get an immediate decision.
- Free life cover between exchange of contracts and house purchase.
- Life cover that decreases over the term of the plan and is intended to help pay the rest of your client's repayment mortgage if they die.
- Critical Illness option plus other options, such as: Premium Protection, Mortgage Payment Protection.
For further information please see the key features document.
| Criteria | Min/Max | Detail | Notes |
|---|---|---|---|
Age Limits | Min age | 16 | Plans can be taken out individually or jointly but the lump sum is payable on the first claim only.The plan has no cash in value.
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| Max age at start of plan (life cover only) | 66 | Maximum age at entry with Premium Protection option or Mortgage Payment Protection is 54. Maximum age at entry with Critical Illness option is 59. | |
| Term | Min term | 3 years | Minimum term is 5 years with Mortgage Payment Protection option and 6 years with Reviewable Critical Illness option. Provided the plan ends before your client's 76th birthday
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| Max term | 40 years | Maximum term is 40 years with Guaranteed Critical Illness option and provided the plan ends before your client's 76th birthday. | |
| Payment Limits | Minimum premium | £5/month |
Or £50 annually. Monthly premiums must be paid by direct debit. Annual premiums can be paid by cheque or direct debit.
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| Maximum Cover | None (life cover only) | Maximum cover is £2,000,000 with Critical Illness option.
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Life and Critical Illness Option | Min Age | 16 | If your client chooses guaranteed premiums, the plan must end before the client’s 76th birthday. The maximum term of the plan is 40 years.
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| Max Age | 59 | If your client chooses reviewable premiums, the plan must end before the client’s 76th birthday. The maximum term of the plan is 40 years.
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| Max Cover | £2,000,000 |
For Life and Critical Illness cover If the cash sum is paid upon diagnosis of critical illness, no further benefit is payable on the diagnosis of a terminal illness of death.
The plan can continue if a claim for Critical Illness is made on independent Critical Illness.
Life and Critical Illness cover pays out a lump sum if your client either dies or is diagnosed with a critical illness that meets our plan definition and then survives for at least 14 days. We only cover the critical illnesses we define in our plan and no others.
Your client’s children are automatically covered under the children's critical illness benefit. Children are covered for £20,000 or 50% of the sum assured whichever is the lower amount.
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Independent Critical illness cover | Min Age | 16 | If your client chooses guaranteed premiums, the plan must end before the client’s 76th birthday. The maximum term of the plan is 40 years.
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| Max Age | 59 | If your client chooses reviewable premiums, the plan must end before the client’s 76th birthday. The maximum term of the plan is 40 years
| |
Max Cover
| £2,000,000 | Level-benefit max cover £2,000,000 for critical illness but can have any amount of life cover.
This includes any other Critical Illness cover that your client may already have with Aviva and/or any other provider.
Critical illness cover pays out a lump sum if your client is diagnosed with a critical illness that meets out plan definition and then survives for at least 14 days. We only cover the critical illnesses we define in our plan and no others.
Your client's children are automatically covered under the children's critical illness benefit. Children are covered for £20,000 or 50% of the sum assured whichever is the lower amount.
The plan can continue if a claim for Critical Illness is made on Independent Critical Illness. |
There are no additional charges for clients to pay. All charges for our Mortgage Life Insurance plan are included within a client’s premiums.
| Designed for clients who | Not designed for clients who |
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Key considerations | Possible alternatives |
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Secure services
- Quote / Illustrations online
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- Retrieve quotes and applications
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We have a wide range of support staff available to help you, click here to find the right number that meets your needs.
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