Term Life Insurance Policy – Aviva
Term Life Insurance from Aviva, offers a straight forward tax-free lump sum pay out on death during the policy term. It also includes a unique service known as “Best Doctors” which provides a second expert medical opinion service for the whole family. The policy includes as standard, accidental death benefit, children’s cover and terminal illness benefit. Serious Illness cover is optional and a unique reinstatement clause, let’s you get back on cover, even if you fall up to 6 months behind on payments.
Complimntary Added Benefits
Advance Cover - Accidental Death Benefit
Your insured life cover amount up to a maximum of €150,000 is payable if a life proposed dies from bodily injury as a result of an accident while Aviva is processing your fully completed application form, and within the first 3 months from application receipt.
If your child dies during the term of your policy, a sum of €2,500 will be paid out.
Children’s are also covered for the same specified illnesses as the policyholder subject to a maximum of €25,000 for full payment illnesses and €10,000 for partial payment illnesses.
This child cover applies between the ages of 30 days and age 21.
Terminal Illness Benefit
If you are diagnosed with a terminal illness, your life cover will be paid out, so long as there are 12 months or more until the policy is due to end. A terminal illness is an illness that, according to the attending Consultant, has no known cure, has progressed to a point at which it is deemed incurable or is expected to lead to death within 12 months.
If your cover lapses, you may reinstate it at any time within the following 6 months. This reinstatement will be subject to you providing us with satisfactory evidence of your ongoing good health – and paying all the outstanding premiums, plus any late payment charge that may apply at that time.
Optional Added Benefit
Specified Serious Illness Cover
Where you choose to include Serious Illness cover on your life insurance policy, if you are diagnosed with one of 66 specified serious illnesses during the term of your policy, a lump sum will be paid out. 47 full payment illnesses and 19 partial payment illnesses are covered, including the 3 major full payment conditions of cancer, heart attack, and stroke.
Optional Added Features
Where chosen, this option allows you to convert your cover to another policy without having to provide new evidence of health. You can use this option at any point over the course of your policy up to age 85. The maximum age to extend cover is to age 90. If you select the conversion option, you can select any term for your cover from 2 to 50 years.
Convertible term – smoker status on conversion will apply We reward customers who quit smoking after their original policy was taken out with non-smoker rates on conversion if they haven’t smoked for 12 months prior to conversion.
Where chosen, Inflation Protection ensures that your cover increases by 3% and your premium increases by 4% each year. This helps to protect the real value of your cover as time passes.