Public Limited Company
A merger between Norwich Union and CGU PLC created Aviva in 2000. Today, it is the world’s sixth-largest insurer, serving around 44.5 million customers in 28 countries worldwide.
Aviva is the largest insurance group in the UK and is a market leader in both general insurance and life and pensions.
Aviva provides 31 million customers with insurance, savings and investment products worldwide.
In 2016, Aviva paid out £34.4bn to customers in benefits and claims and gave £11.3m to promising community projects.
Aviva Income Protection policies are some of the most comprehensive in terms of cover, although their maximum benefit of 55% of earnings which may not be enough for some people. Other insurers can offer as much as 70% of your earnings, which may be more in line with your needs.
Family Carer Benefit
Pays the lower of £1,500 or the monthly benefit if the policyholder has to stop work to care for a spouse/partner/child who can’t perform activities of daily living for more than three months.
Access to BUPA HealthLine, Best Doctors, physio and counselling/carer support
For an optional extra premium of £4 per month, the policy will pay up to a £6,000 lump sum if you suffer from a specified fracture.
For an optional extra premium of £4 per month, the policy will pay for overseas treatment worth up to £1 million for certain illnesses such as cancer.
Pays six times the monthly benefit (up to £40,000) if the policyholder suffers one of six listed traumatic events, including blindness or loss of hand or foot.
Overview of Key Policy Details
Guaranteed or reviewable premiums
Maximum Claim Duration
Full Cover to Term
Limited Payment Term
Waiver of Premium
Up to 55% of your gross earnings or up to a maximum of £240,000 per year (£20,000 per month).
Minimum Entry Age
18 years old
Maximum Entry Age
59 years old
Maximum Policy Cease Age
The minimum benefit is £500 a month. This means that 55% of your gross earnings must be at least £500.
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Aviva remains one of the best choices for optional benefits to include with your Income Protection policy.
Aviva is a huge multinational insurance company with a world headquarters in London. It launched in 2002 following a merger between Norwich Union and CGU in 2000.
In 2015, Aviva acquired Friends Life Group in an all-share takeover worth roughly £5.6 billion.
In 2017, Aviva had an overall operating profit of £1,465 million. It has grown from strength to strength and continues to be one of the front runners of the global insurance industry.
We aim to know the policies we advise on, inside out and back to front. Below is a couple of commonly asked questions with regards to the policy coverage of the Aviva Income Protection Insurance product answered.
In order to claim on your policy, you must have an injury or illness severe enough to prevent you from working full-time or part-time in your current occupation.
When you make a claim, Aviva will ask you to provide a certain amount of evidence. This may include evidence of the policyholder’s identity, proof that they are ill or injured, proof of earnings for the 12 months prior to incapacity, medical reports and conversations with relevant third parties, and some form of written consent.
Aviva will only pay benefits if they believe that you are actively trying to get better. This means that you must be treated by a medical practitioner and follow any treatments or programmes prescribed to you.
Aviva Income Protection policies are particularly lenient when it comes to cases of incapacity that are related to the same condition.
If you claim for incapacity and suffer again from the same condition within 12 months of your last payment, Aviva will not re-apply your deferred period.
Aviva will also allow you to link deferred periods if you do not manage to reach the end of your deferred period and suffer again from the same condition. This is providing your deferred period is longer than 13 weeks and both periods of incapacity lasted at least 7 days.
You can have the deferred period days that you used added together for the purpose of completing your deferred period and allowing you to claim sooner.
If you would like to increase your level of cover due to life changes such as marriage, parenthood, or a salary increase, you can take out a new policy with more cover without answering any additional medical questions. You can increase your benefit by as much as 20% of your original benefit with a minimum increase of £100 per month.
You can use the Life Change Benefit as many times as you would like, providing your new policy does not exceed the length of your original policy and that you are able to provide evidence of your life changes.
If you want to decrease your cover or change your deferred period, you can do so within the first six months of your policy without needing to answer any medical questions.
As you can see, there are a lot of points to consider when comparing insurers. With so many factors in play, it can be time-consuming to pull up key information across every single insurer in the market, so why not ask an adviser for help?
We started Drewberry because we were tired of being treated like a number and not getting the service we all deserve when it comes to things as important as protecting our health and our finances. Below are just a few reasons why it makes sense to talk to us.
If it is all getting a little confusing and you want to talk you through your options to make sure you find the most suitable cover please don’t hesitate to get in touch.
Pop us a call on 02084327333 or email firstname.lastname@example.org.
I had the pleasure of dealing with Jake Mills in organising my insurance. Jake was fantastic to deal with — his patience and understanding really helped.