Aviva - Term Assurance

Here are some of the main features of our Term Assurance plan

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
Critical Illness/ Premium Payment/ Conversion and Renewal options are available.

For further information please see the key features document.

Here are some of the main facts you need to know about our Term Assurance plan.

Criteria	Min/Max	Detail	Notes
Age Limits	Min age	16	Plans can be taken out individually or jointly but the cash sum is payable on the first claim only. The plan has no cash in value.
Age Limits	Max age	89
Term	Min term	1 year	6 years if critical illness option with reviewable premiums are selected
	Max term	50 years	50 years for Life Cover only 50 years if Reviewable critical illness is chosen 40 years if Guaranteed critical illness is chosen
Payment Limits	Min premium	£5	Or £50 annually. Monthly premiums must be paid by direct debit. Annual premiums can be paid by cheque or direct debit.
Maximum Cover	None (life cover only)	N/A	Maximum cover is £2,000,000 with Critical Illness option.
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. If your client chooses reviewable premiums, the plan must end before the client’s 91st birthday. The maximum term of the plan is 50 years.
	Max Age	59
	Max Cover	£2,000,000	This includes any other critical illness cover that your client may already have with Aviva and/or any other provider. If the cash sum is paid upon diagnosis of a critical illness, no further benefit is payable on diagnosis of a terminal illness or on death. Critical illness cover pays out a lump sum if your client is diagnosed with a critical illness that meets our plan definition and then survive for at least 14 days. We only cover the critical illnesses we define in our plan and no others. Your client children are automatically covered under the children’s critical illness benefit.

Charges

There are no additional charges for clients to pay. All charges for our Term Assurance plan are included within a client’s premiums.

Here is some information to help you to decide if our Term Assurance plan is right for your client.

Designed for clients who	Not designed for clients who
Want to protect against the financial consequences of death for a defined term (personal reasons) Have financial dependants Have creditors Want cover for a specified term Anticipate IHT liabilities	Want an investment-linked arrangement Want protection for the whole of their life Want a cash-in value Want a life insurance amount that decreases over the term of the plan
Key considerations	Possible alternatives
Level of cover required Existing levels of cover State of health Financial liability assessment Dependants	Self-insurance (existing assets) Whole of life plan