Over 50s Life Assurance from Aviva
Over 50s Life Insurance from Aviva is no longer available to new customers.
Existing customers will continue to receive cover. If you are an existing customer, you can find details of what’s covered and what’s not by reading our Guide to Income Insurance.
Over 50s Life Assurance from Aviva 1 provides a fixed cash sum when you die, which could be used as a gift for loved ones or to help with funeral costs. This whole-of-life policy is specifically designed for those aged between 50 and 80 (at the time of taking out the policy) but will provide assurance for the rest of your life.
- Guaranteed acceptance on to the policy, provided you are aged 50-80
- No medical required or health questionnaires to fill out
- You choose how much you want to pay each month (minimum premium of £5 per month, maximum premium of £100 per month) and, provided you keep paying them for a set number of years, or until you die, if earlier, a fixed cash sum will be paid out
- Premiums and levels of cover are guaranteed – they will never change, regardless of how long you live, or what medical conditions you have or develop
- Pay regular premiums for a set number of years or until you die, if earlier
Important information
- The total paid out could be less than the total you have paid in premiums
- Inflation may reduce the value of the sum insured
- This is not a saving product and has no cash-in value at any time
- The sum assured is paid after one year, or if death is due to a fatal accident in the first year. If you don’t keep up to your payments, cover will cease after 30 days.
Further terms, conditions and exclusions apply – make sure you read our insurance guide 1.11 MB 3 so you know what's covered and what's not.
The number of years you pay premiums for depends on what age you are when you take out the policy:
- Aged 50 to 64 – you’ll pay for 20 years
- Aged 65 to 75 – you’ll pay until the policy anniversary after your 85th birthday
- Aged 76 to 80 – you’ll pay for 10 years
The amount we pay out on death depends on how long you have the policy for. Here’s a breakdown of what we’ll pay out at various stages in your policy:
| If you die from: | We'll pay: |
| An accident in the first year | The guaranteed cash lump sum |
| An accident after the first year | Double the guaranteed cash lump sum |
| Other causes in the first year | An amount equal to the premiums paid |
| Other causes after the first year | The guaranteed cash lump sum |
Key exclusions
We do not pay out the accidental death benefit if the accident is the result of:
- You taking part in criminal activity
- You taking part in certain hazardous pursuits
- Self-inflicted injury, suicide, alcohol or drug misuse
- Flying (except as a passenger in a commercially licensed aircraft)
The plan has no cash-in value at any time, so if you cancel your plan or stop paying your premiums during the premium term, your life cover will end and you won’t get anything back.
Further terms, conditions and exclusions apply – make sure you read our insurance guide 1.11 MB 3 so you know what's covered and what's not.
Over 50s Life Assurance might be right for you if:
- You’re aged between 50 and 80 (inclusive) at the time of applying
- You want cover for the rest of your life, knowing your loved ones will get a guaranteed cash lump sum when you die
Over 50s Life Assurance might not be right for you if:
- You’re under 50 or over 80
- You only want life cover for a limited amount of time
- You want to be able to stop your policy and get your money back
- You want a policy that covers you if you’re diagnosed with a specific illness (see our Advised Critical Illness Insurance)
- You want to be covered against being unable to work because you’re ill or injured (see our Personal Accident Insurance)
- You want to be covered against being unable to work because you’re ill or injured (see our Personal Accident Insurance)
Further terms, conditions and exclusions apply – make sure you read our insurance guide 1.11 MB 3 so you know what's covered and what's not.
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