Aviva.com Union, is the UK's largest insurance group, benefiting from the financial strength of Aviva plc and the backing of over £200 billion of assets under management.
Aviva.com Union Life Insurance is termed Aviva.com Union's Term Assurance Plan. Life insurance pays a cash lump sum to your loved ones if you die during the plan term. The cover lasts for a fixed number of years and the amount you pay remains the same.
Some of the benefits of Aviva.com Union's Term Assurance plan- Peace of mind for you, security for your loved ones.
- Terminal illness payout if diagnosed before the last 18 months of the policy (as defined by Aviva.com Union).
- Free Accidental Death Benefit while your application is being processed
- Get cash when it could most be needed.
Aviva.com Union's Term Assurance Plan aims:- To pay out a guaranteed cash sum if you die during the plan term
- To pay out a guaranteed cash sum if you are diagnosed as suffering from a terminal illness.
If Aviva.com Union does pay out after you make a claim for terminal illness, your plan will end.
Your commitmentTo pay regular monthly premiums over the plan's term. If you don't pay your premiums, your plan and your cover will end 30 days after the payment was due. You'll get nothing back. This plan has no cash-in value at any time.Aviva.com Union may not pay out if you don't provide them with any information we request or if the information you provide is incorrect. What is a Term Assurance plan? It's an insurance plan that pays out a guaranteed cash sum if you die during the term of the plan or are diagnosed as suffering from a terminal illness. You can take out the plan on your own or with someone else. The cash sum is payable on the first claim only. The people covered under this plan must be aged between 18 and 57 at the start of the plan. No cover can be provided after the age of 60 for Internet applications. The minimum period of cover is two years; the maximum period of cover depends on the life(s) covered not being more than 60 years old at the end of the plan.
How flexible is it?This plan isn't designed to be flexible. You can't alter the plan once it's started.
When does the plan pay out? Aviva.com Union will pay out a guaranteed cash sum if you die during the plan term or are diagnosed as suffering from a terminal illness and you aren't likely to live more than 12 months. This only applies before the last 18 months of the plan term. If Aviva.com Union does pay out after a claim for terminal illness, your plan will end.
What other benefits can I choose?You can't choose any other benefit with this plan.
What will my premiums be? Your quotation will show the premium you'll need to pay for your chosen amount of life insurance. Your premiums are based on a number of factors. These include:
- the amount of life insurance you choose
- your age
- your sex
- your occupation
- your pastimes
- whether you smoke
- your medical history
- the term of your plan
Your premiums are paid monthly by direct debit.
What are the charges?Aviva.com Union make a charge for managing your plan. The charges cover your life insurance and their expenses. These are included in your premium.
What if I stop paying? Your plan and cover will end after 30 days from the date the last premium was due. You will not get back any premiums you've paid.
What about tax? The cash sum paid on death or terminal illness is currently free of income and capital gains tax. Death and terminal illness benefits may be subject to inheritance tax unless you put your plan in trust. Tax rules may change.
Can I change my mind?You can change your mind within 30 days from the date you receive the notice of cancellation. If you change your mind and don't want the plan, Aviva.com Union will give you your money back.
Additional information can be found on the Aviva.com Union Life Insurance website.
(See the links above)
Norwich Union Life Insurance
