Aviva Over 50s Life Insurance Plan
Guaranteed Lifelong Protection from Aviva Over 50s Life Insurance
Over 50s life insurance that guarantees cover for you
If you’re over 50 and you want to leave a sum of money for your loved ones when you die, Aviva offer a Guaranteed Lifelong Protection Plan. Whether it’ll be used to help pay outstanding debts or funeral expenses, or to leave to your children or grandchildren, the plan pays a guaranteed cash sum when you die.
The plan has no cash-in value and cover will cease if you stop paying the premiums.
What is a Guaranteed Lifelong Protection Plan?
- It’s a life insurance plan for the over 50s that pays out a cash sum to your estate when you die. You pay regular monthly premiums for a specific term or until you die and in return you get lifelong cover. The term for paying a monthly premium depends on your age at the start of the plan. This means that, whenever you die, your family will receive a cash sum no matter what happens.
- Unlike similar plans, Aviva's Guaranteed Lifelong Protection Plan will pay out the full sum insured after you've been making your payments for just 12 months. And, if you were to die as a result of an accident after the first 12 months, Aviva will pay double the amount of the sum insured.
If you die within the first 12 months of the plan, Aviva will refund to your estate all the payments you've made into the plan. However, if you die as a result of an accident in the first 12 months, we'll still pay the full sum insured. You can read more about the benefits and risks of the plan in the Key Features of the Plan
- The plan has no cash-in value, so if you stop paying your premiums before the end of the payment term, your life cover will end 30 days after the date the last premium was due and you’ll get nothing back.
- Depending on your circumstances, the cash sum paid out could be less than the total amount you’ve paid in premiums and the value of the lump sum will be reduced by inflation. The plan will not pay out if premiums aren't paid for the agreed plan term.
What are the benefits?
- Aviva guarantee to cover you if you’re aged between 50 and 80
- A guaranteed cash lump sum is paid out when you die
- Monthly premiums will stay the same for the duration of the plan - you simply choose how much you want to pay between £10 and £50.
You can put your plan in trust to guard against inheritance tax. Just ask us about it.