Aviva Income Protection Insurance

Monthly Benefit and Maximum Cover

The maximum cover is directly based on a percentage of the policyholder’s annual earnings before tax. This can be up to 65% of the first £60,000 and 45% thereafter. The maximum cover available is £240,000 per annum / £20,000 per month which would require earnings in excess of £500k per annum.

Incapacity Levels

Aviva defines Incapacity as “The inability, caused by illness or injury, to perform the duties, of each and every occupation you’ve been following in the 12 months before that illness or injury.”

Medical Exclusions

Exclusions can be applied as a result of the health information provided before the start of the policy.

Deferred Period

Deferred period can be set to 4, 8, 13, 26, 52 or 104 weeks. Aviva also offer a dual deferred period lower where an initial (lower) monthly benefit is paid after the first deferred period before the full benefit amount is paid after the second deferred period.

Benefit Period

With Aviva’s Income Protection +, policyholders can choose between either;
Full cover to term: Pays the monthly benefit as long as the policyholder is incapacitated and the policy is in place.
Limited payment term: Pays the monthly benefit for a maximum of 24 months for each incapacity.

Policy Duration

The minimum “Policy Term” is 5 years although can not end before the policyholder’s 50th birthday. The maximum policy term is 52 years but it must end on the policyholder’s 71st birthday.

Aviva DigiCare+ App

Only available when taking out an Aviva protection policy through an advisor, Aviva DigiCare+ provides policyholders with an annual health check from the comfort of their own home. The annual health check tests for numerous health markers and comes with an online follow up consultation with a GP.

As standard the app also offers access to the Bupa Anytime HealthLine, Mental health support, Second opinion services as well as health and wellbeing discounts and nutrition advice.

Users can upgrade to add a “Digital GP” service for £36 a year which entitles them to 3 online consultations with a private GP.

Trauma Benefit

Included as standard, Trauma Benefit pays the policyholder a lump sum if they suffer one of six traumatic events listed below. The lump sum is equal to 6 months benefit (up to a maximum of £40,000).

Traumatic Events: Blindness, Deafness, Loss of hand or foot, Loss of speech, Paralysis of limb or Loss of independence.

Hospital Benefit

During the deferred period, should a policyholder need to stay in hospital beyond 6 consecutive nights, the policy will pay a Hospitalisation Benefit of £100 per night up to a maximum of 90 nights. This will cease if the policyholder starts to receive the monthly benefit even if they are still in hospital.

Optional Fracture Cover

As an optional extra, policyholders can choose to extend their policy with fracture cover. This pays lump sum (between £1,500 and £6,000) in the event the policyholder is diagnosed with a qualifying fracture.

Optional Global Treatment

Additional cover designed to cover the cost of treatment if the policyholder or their child (under 18 years of age) are diagnosed with a serious illness or require a qualifying medical procedure.