Protect the people that matterLife Cover Calculator
Provided by Aviva Life & Pensions UK Limited
Aviva Life and Pensions UK Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered office: 2 Rougier Street, York, YO90 1UU. Registered No. 3253947.
Cover for your family and mortgage
Level term insurance pays out a fixed amount, so it’s a good way to help give your family a financial safety net. Decreasing term insurance helps protect you if you have a repayment mortgage or loan.
Our Protection Direct team can offer a range of cover options to suit your needs.
Over 50's Life Assurance
A payout to help cover funeral expenses or leave behind a gift for your loved ones
Guaranteed acceptance - If you're aged 50-80 and a UK resident, you can take out a policy. There are no medical questions or examinations required
Guaranteed payouts - After the first year your payout will always stay the same
Guaranteed premiums - The amount you pay will never increase
Affordable - With cover starting at £6 per month, life assurance needn't be out of reach
Things to look out for
- If you cancel your policy at any time throughout the agreed term, there will be no return on your premiums
- If you do not maintain your premiums for the full premium term of 30 years (or until the policy anniversary following the policyholders 90th birthday, if that comes sooner), the policy and cover it provides will cease
- Depending on how long you live, you may pay more in premiums than is paid out on death.
It's wise to review your cover from time to time as inflation may affect what your guaranteed cash sum will be worth in the future.
What's the difference between insurance and assurance?
Insurance is based on something which might happen during a specific time period. Life insurance policies are therefore for a fixed term and are often purchased to cover other financial products such as a mortgage or a loan.
Assurance is something with is ‘assured’ to happen; i.e. in this case your death. Therefore, a life assurance policy pays out ‘when’ you die (not ‘if’ you die).
What is level term life insurance?
A level term policy pays out a lump sum should you die within the specified term. The amount you are covered for remains level throughout the term.
What is decreasing term life insurance?
Decreasing term insurance covers you for a set term and pays out a lump sum if you die during the policy term. This type of insurance is specifically designed to cover the reducing amount you owe on mortgage or loan, where the amount you owe decreases year on year.