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Your life insurance cover questions answered
Can I cancel my life insurance at any time?
Yes. You have a 30-day cooling-off period from your policy start date, or from when you get your policy documents (whichever is later), to change your mind. If you want to cancel within this time, we’ll refund any premiums you’ve paid. Remember, there’s no cash value and, if you cancel your policy, you won’t be able to make a claim.
If you want to cancel the policy after the cooling-off period ends, your premiums won’t be refunded. If you’re thinking about cancelling your policy, please contact us, or write to Aviva Life, Norwich BCC, PO Box 520, Norwich, NR1 3WG.
Does your life Insurance policy cover terminal illness?
You can find out what you're covered for in the policy conditions that you received when you first took out the policy. If your policy is available in MyAviva you can log in or register and check your cover details there.If you're not sure please contact us
What's the difference between life insurance and over 50 life insurance?
The main difference is that life insurance is a term policy, so it covers you for a specific amount of time, while over 50 life insurance is a whole of life policy, so it covers you for the rest of your life.
To take out our Over 50 Life Insurance you need to be aged between 50 and 80. Your premiums are fixed for life, and you won’t need a medical or health check. You can choose a cover amount to help pay for a funeral, or it can be used for other costs, or to leave a gift to your partner or family. Once you’ve had your policy for 30 years, or from the soonest policy anniversary after your 90th birthday, you’ll no longer pay anything, but your cover will continue. It can’t be taken out as a joint policy.
With our Life Insurance Plan, you need to be aged between 18 and 77 to apply, and your cover stops at the end of the policy term. You choose a cover amount, and if you want your cover to remain the same, be protected from the effects of inflation, or decrease over time broadly in line with a repayment mortgage or loan. You can take out a single or joint life insurance policy.
If you’re not sure which one might be right for you, speak to a financial adviser
Do I get any money back if I don't die before the life insurance policy term ends?
No. There's no cash value at any time. At the end of your life insurance policy term you stop making payments and your cover ends.
Can I decide who gets the money from my life insurance policy?
Yes. Putting your money into a trust means you can decide who gets the money from any payout (they’re known as the beneficiaries). Plus, you can name the people who’ll be responsible for distributing that money (they’re known as the trustees).
A trust is a legal arrangement, and you can find out more about the Aviva Trusts we offer.Putting your policy into an Aviva Trust means we can pay out faster (so long as there’s at least one available trustee) if a claim is approved. It’s because we already know who’s dealing with the payout, which means we don’t have to wait for executors to be appointed.
Another feature of putting your policy in trust is that any money your beneficiaries receive will usually be exempt from Inheritance Tax2. But remember, tax liability depends on your circumstances, and tax laws may change in the future.Setting up a trust is easy, but you’ll need to understand what it means for you legally and financially.
So you should speak to a financial adviser or tax specialist, which you can find at www.unbiased.co.uk If you don’t put your policy into a trust, you can leave instructions in your will explaining who you want to receive any payout from your policy. However, this may not offer the same protection against Inheritance Tax. The Gov.uk website has more information about writing a will.
Your critical illness questions answered
Am I eligible to take out Critical Illness Cover?
You can take out our Critical Illness cover if you’re aged between 18-64 and are a permanent UK resident. We will then complete a health and lifestyle document to understand your medical history.
What critical illnesses are covered under this policy?
We cover 52 critical illness conditions, including heart attack, stroke and some cancers.
How much does Critical Illness Cover cost?
This will depend on your personal circumstances and medical history. Over half of our customers pay just £ 18.00 or less for our Critical Illness Cover.
Will my children be covered if I choose to add Critical Illness Cover?
Yes. They will be covered under our Children’s Critical Illness cover, where we will pay up to £ 25,000 or 50% of the cover amount, whichever is lower
What is children's benefit?
Children’s benefit is automatically included in any personal policy that includes critical illness cover.
We’ll pay £ 25,000, or 50% of the main critical illness benefit (whichever is lower), if any of your natural, step or legally adopted children are diagnosed with one of the children’s critical illnesses or conditions we cover during the term of the policy.
If one of your children dies during the term of the policy, we’ll pay a lump sum of £ 5,000. Children are covered from 30 days old until their 18th birthday (or their 21st birthday, if they’re in full-time education). We’ll only pay out one critical illness claim for each child under the policy. We’ll pay a death claim for a child, even if we’ve previously paid out on a critical illness claim for them. If we pay out under children’s benefit, the policy will continue to provide cover for you and any other eligible children you have.
If you already have an existing policy with us, check your policy documents to see what cover is included. If your policy was previously with Friends Life, contact us to check if this applies to you.
Important information
Aviva UK Digital Limited sells life insurance and critical illness policies provided and underwritten by Aviva Life & Pensions UK Limited. Aviva UK Digital Limited. Registered in England No. 09766150. Registered office: 8 Surrey Street, Norwich, Norfolk, NR1 3NG. Authorised and regulated by the Financial Conduct Authority. Firm Reference Number: 728985. Aviva Life & Pensions UK Limited. Registered in England No. 3253947. Registered office: Aviva, Wellington Row, York YO90 1WR. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Firm Reference Number: 185896. www.aviva.co.uk