Aviva Income Protection Insurance
Income Protection Plus
Founded
1797
Company Type
Public Limited Company
Company Overview
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.
Documentation
Get 2 Months FREE Cover
By reaching this page you are eligible for two months FREE cover when you set-up your new Income Protection policy.
Simply fill in the form on this page to apply your two months free discount and get your instant quotes or call us on 02084327333 and state the code VC2MF.
Income Protection Overview
Your benefits will not be affected by any Employment and Support Allowance you receive, nor investment income.
There are lots of included benefits to cover a range of scenarios, including hospitalisation.
If, at the end of claiming for incapacity, you need to make another claim for the same condition, Aviva will start paying benefits again right away without you having to wait until the end of your deferred period.
If incapacity ends partway through the month, Aviva will pay daily benefit amounts to cover this period.
At the beginning of your policy you can choose to index your policy to ensure your benefits increase in line with the Retail Price Index (RPI). If the change in the RPI is 0% or below, your benefit amount will stay the same for that year.
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.
Support Plus – access to BUPA HealthLine, Best Doctors and counselling/carer support
Fracture Cover – for an optional extra premium of £3 per month, the policy will pay a £6,000 lump sum if you suffer from a specified fracture.
Global Treatment – 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.
Trauma Benefit – 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.
Income Protection policies from Aviva pay a maximum benefit of 55% of the policyholder’s 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.
Aviva Income protection Policy Conditions
|
Overview of Key Policy Details
|
|
|---|---|
|
Policy Type |
Income Protection |
|
Premium Type |
Guaranteed or reviewable premiums |
|
Maximum Claim Duration |
Full Cover to Term Limited Payment Term |
|
Incapacity Definition |
Own Occupation |
|
Deferred Period |
4/8/13/26/52/104 weeks |
|
Indexation |
Optional |
|
Waiver of Premium |
Automatically included |
|
Maximum Cover |
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 |
70 |
|
Guaranteed Insurability |
Yes |
|
Guaranteed Benefit |
The minimum benefit is £500 a month. This means that 55% of your gross earnings must be at least £500. |
|
Policy Exclusions |
If you’re made redundant for any reason other than ill health. |
Neil
Pensions Advice
Robert
Income Protection
Drewberry’s Aviva Income Protection Review…
Key Comparison Points
- Aviva has one of the most lenient income protection policies when it comes to claiming overseas. In some countries you can claim for incapacity for up to 3 years and in others you can claim for up to 6 months.
- If you are hospitalised during your deferred payment, Hospital Benefit will pay £100 per night to cover your hospital expenses if you have been in hospital for more than a week, up to 90 nights.
Additional and Optional Benefits
- Indexation
- Back to Work Benefit
- Sick pay solutions for NHS doctors and surgeons
- Life Change Benefit
Financial strength
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.
Aviva Income Protection Insurance: FAQs
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.
If you need any further help please do not hesitate to call us on 02084327333.
Sam Barr-Worsfold
Independent Insurance Expert at Drewberry
Q. What are the requirements for being able to claim for Aviva Income Protection?
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.
Q. Can I claim more than once for the same cause of incapacity?
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.
Q. Is it possible to make changes to my policy once it has already started?
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.
Would recommend to a friend!