Aviva Life Insurance & income protection have announced some changes to their protections. In light of the world’s changes around Covid and the climate we live in Aviva have made the following changes:

1. Changes to our Life Insurance underwriting

Changes to our non-medical limits

We have made changes to our non-medical limits – These changes will result in fewer customers requiring medical evidence purely due to their age and the sum assured applied for and this will speed up the underwriting process for you and your customers.

Improving our straight-through processing rates

We are making changes to more than 10 of our expert underwriting rules to further increase our volume of automated decisions. These include updates to commonly disclosed conditions such as raised blood pressure and common mental health conditions such as anxiety, stress or depression.

Automating changes to our COVID-19 stance

We relaxed our COVID-19 stance in January. We are now automating these changes in our Underwriting Rules Engine (URE), which means that we will be able to offer terms at point of sale for Life/Critical illness for people who have had COVID-19 symptoms within the last 14 days as soon as the symptoms have been resolved (subject to any other underwriting criteria).

2. Changing deferred periods on Income Protection+ and Living Costs Protection

We know that many customers receive no sick pay as they may be self employed or are just reliant on Statutory Sick Pay of £96.35 per week. Having a deferred period that fits their needs is often an important consideration when taking out income protection.

  • Aviva are pleased to now offer benefit on a four week deferred period for the vast majority of coverable occupations.
  • Our product flexibility also allows a customer to decrease their deferred period to a minimum of four weeks, subject to underwriting.

Some great changes to help people get protection from Aviva here. However Golden Rock always say not all providers and solutions are the same we would welcome a discussion to find the right protections for you and family. its not just about price its about the protection being right for you and your family

Categories:

Tags: