Aviva relevant life insurance

Aviva is one of the UK’s largest insurers and has offered relevant life insurance for many years.

It is a well-established provider in the business protection market and is regularly included by independent financial advisers when comparing relevant life insurance quotes.

Its relevant life policy is designed to enable employers to provide tax-efficient life cover for an employee or company director, with the policy typically written into a relevant life trust.

What does Aviva’s relevant life policy offer?

Aviva’s relevant life proposition includes a range of features designed to suit different employers and employees.

Depending on the policy selected, these may include:

• Life cover and terminal illness benefit as standard
• A choice between level or increasing cover options
• Optional employee significant illness cover, tailored to comply with HMRC rules
• Optional total permanent disability cover, where available
• Guaranteed premiums for life-only policies
• An efficient online relevant life trust with signature-free processing
• Business Protection Promise, providing temporary life cover of up to £1 million while an application is being assessed

The exact features available will depend on the policy selected and the individual circumstances of the application.

How does Aviva assess applications?

Aviva assesses each application individually.

Premiums and underwriting decisions will typically take account of factors such as:

• age
• smoking status
• medical history
• occupation
• the amount of cover required
• the policy term

Many straightforward applications can be assessed using Aviva’s online underwriting system, although additional medical information may be required in some cases.

Who might Aviva relevant life insurance suit?

Aviva is commonly considered by directors looking for an established insurer with a broad business protection proposition.

Its range of policy options means it is regularly included when advisers compare relevant life insurance providers for limited company directors.

Whether it is suitable will depend on the individual’s circumstances, including the amount of cover required, remuneration, health history and Aviva’s underwriting assessment.

Potential advantages

Some of the reasons Aviva is frequently included in provider comparisons include:

• it is one of the UK’s largest insurers
• it has an established business protection proposition
• customers can choose between level and increasing cover
• an online relevant life trust is available
• optional additional benefits may be available on selected policies
• policies are widely available through independent financial advisers

Things to consider

The monthly premium is only one part of the decision.

Before choosing a provider, it is worth comparing:

• the amount of cover available
• underwriting requirements
• trust arrangements
• optional policy features
• policy terms and conditions
• overall value rather than simply the lowest premium

Different insurers assess applications differently, so Aviva will not necessarily provide the most competitive quote for every applicant.

Should you choose Aviva?

Aviva is one of the established providers in the UK relevant life insurance market and is regularly included when independent financial advisers compare quotes.

Rather than selecting an insurer in advance, many directors compare quotations from several providers before deciding which policy best meets their requirements.

An independent financial adviser can explain the differences between insurers, compare quotes and recommend a suitable policy based on your individual circumstances.

Compare relevant life insurance quotes

If you are considering relevant life insurance, comparing quotes from more than one insurer is usually the best approach.

Our independent financial adviser partner, Broadbench Ltd (FCA No. 590288), can compare policies from a range of leading insurers and recommend suitable cover based on your circumstances.

Get a free quote More Providers