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Aviva Life Insurance Company Reviews 2024

Elaine Brookes Steve Case

Author: Steve Case - Insurance Expert

Reviewed & Fact Checked By: Elaine Brookes

Updated: 31st December 2023

aviva life insurance reviews

Aviva is the largest UK insurance services provider and the fifth largest insurance group, with more than 45 million customers worldwide.

It is also a leading European life insurance provider. Consumers interested in mortgage life insurance, providing financially for loved ones, or adding coverage to their existing life insurance portfolio will find that Aviva Life Insurance offers a suitable product.

The best part is that they need not search for it themselves because we do all the work!

During our market review for compatible products, we check the products available from Aviva and offer a comprehensive Aviva life insurance review.

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Aviva Life Insurance Key Features Table:

Product TypeDescriptionAdditional Benefits
Level CoverFixed lump sum for loved ones; can be used to pay off an interest-only mortgage or rent.Inflation protection; £5 million max.
Decreasing CoverReduces over time; suitable for repayment mortgage or long-term loan.Costs less than level cover.
Joint PolicyCombined cover for you and your partner; pays out once.Can be split into single policies.
Separate PolicyIndividual policies for each person; continues for the second person after the first payout.
Over 50 InsuranceCover for the whole lifetime rather than a fixed amount of time.
House Purchase CoverAn app provides access to annual health checks, mental health counselling, and nutritional support.
Terminal IllnessEarly lump sum payment if diagnosed with a terminal illness.
Aviva DigiCare+A separate policy can be bought together with life insurance.Non-contractual; can be withdrawn.
Critical Illness CoverA separate policy can be purchased together with life insurance.
Aviva TrustsMore control over inheritance; usually exempt from Inheritance Tax.

Low Premiums From Only £5

Aviva life insurance UK policies are term insurance that makes a lump sum payment to beneficiaries. Monthly premiums start at just £5 and are guaranteed not to increase during the policy term.

Joint policies are available for partners, and it takes only minutes to complete an application. Level and decreasing term policies are offered, and the industry highly rates both.

Aviva Life policies do not have a cash-in value, so failing to make premium payments will result in policy cancellation without a refund.

A simplified life policy provides life coverage only, and a level and decreasing option are available. The level option is similar to term insurance, providing a fixed lump sum payment if the insured dies during the specified term.

This is designed to provide financial security to surviving beneficiaries or help cover the amount due for an interest-only mortgage.

Consumers may choose a coverage limit of up to £500,000 based on their age and policy term. Many people select a term corresponding to when children will become financially independent or when the mortgage will be repaid.

The decreasing option resembles mortgage life insurance, providing coverage that decreases during the policy term and lump sum benefit upon the death of the insured during this term.

By decreasing the coverage level, this policy helps to lower premiums.

The policy is designed for consumers with an outstanding loan balance of a repayment mortgage because the coverage level decreases in line with the balance on this borrowing.

Up to £500,000 in coverage is available based on personal circumstances, and the premium is guaranteed not to increase.

If an insured is diagnosed with a terminal illness and the life expectancy is shorter than 12 months, either plan will pay a benefit, as long as the diagnosis is not made during the last 18 months of the term.

The policy ends once a benefit is paid due to a terminal illness claim. The terminal illness benefit differs from critical illness coverage, which is only provided with a term or mortgage life insurance policy at an extra cost.

Life and critical illness coverage pay a lump sum benefit if the individual dies or is diagnosed with a covered critical illness and lives for 14 days or more.

More than 30 medical conditions are included on the Aviva critical illness list. The benefit may be used for any purpose, such as repaying a mortgage, handling expenses and bills, or funding a holiday for treatment recovery.

There is no cash-in value for a life and critical illness policy; if premium payments cease, the policy will end, and a refund will not be issued.

Trust Fund Ready

Either fixed or decreasing term life insurance can be placed into a trust. This allows the insured to leave money to specific individuals and avoid subjecting the lump sum benefit to inheritance tax.

If a joint policy is taken, a payout is made on the first approved terminal illness or death claim, and the plan ends.

Though this policy may be less expensive, the fact that it only pays one benefit may outweigh this.

Partners may be able to purchase individual life policies for only slightly more than a joint policy, which will provide a lump sum benefit upon each person’s death.

When determining how much coverage they need, consumers should consider the amount of their rent or mortgage, living expenses, payments on credit cards or loans, daycare or education expenses for children, funeral costs, and other lifestyle-related expenses.

It is important to consider everything the money could be used for and build in extra for holidays and expenses for visiting friends and family members.

Based on our research, consumers should multiply the annual amount needed by ten to 25 years to find a limit with an affordable premium.

While undertaking our Aviva life insurance reviews, we discovered that Aviva paid out for 99.7 percent of death claims during the first half of 2024, for a total payout of £150 million.

The company takes pride in its quick and sympathetic handling of claims. If you need life insurance, Aviva may have a suitable product, so complete our online quote request form to find out.

We will include Aviva life policies in our life insurance providers UK market review and provide you with pricing and details regarding suitable plans.

Aviva Life Insurance UK Further Information:

Aviva Life & Pensions UK Limited

Registered Office: Aviva, Wellington Row, York, YO90 1WR.

Freephone 0800 953 1777 between 9.00 am and 5.00 pm Mon – Fri. If outside the UK, call +44 203 761 1200.

Member of the Association of British Insurers. Firm Reference Number 185896.