The Aviva group, the fifth-largest insurance group in the world and the biggest insurer in the UK. The Aviva group has 57,000 employees serving more than 45 million customers worldwide. Aviva is now established as a leading UK life insurance company, with a number of different life insurance policies on offer, including decreasing life insurance, level term life insurance (also known as ‘Aviva life assurance’ or ‘Aviva term assurance’), guaranteed whole of life insurance and a guaranteed lifelong protection plan.
The level term life insurance on offer from Aviva pays out a fixed lump sum in the event of your death; or the diagnosis of a terminal illness before the last 18months of the policy term. It is one of the cheaper life insurance options because the policy is temporary. According to the Aviva website, policies are available for as little as £10 a month depending on your circumstances.
Aviva’s decreasing life insurance policy is a decreasing term plan designed to help you pay off your repayment mortgage in the event of your death or a terminal illness diagnosed before the last 18months of your policy term.
Aviva’s guaranteed whole of life insurance offers a guaranteed cash sum whenever you die and you can choose a yearly increase option at the outset to help protect against inflation. The guaranteed lifelong protection plan is designed for anyone aged 50-80, with no health questions and premiums ranging from £10 to £50 a month.