What your Aviva (life insurance) contract says

In short

This is a term life insurance policy from Aviva, one of the UK's largest insurers. The policy pays a lump sum to your beneficiaries if you die within the chosen term (typically 10-40 years). You can add critical illness cover as an optional extra. Premiums are fixed for the duration of the term if you choose a level term policy, or decrease over time with a decreasing term policy (often used alongside a repayment mortgage). Aviva is authorised and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority. Life insurance contracts in the UK are governed by the Insurance Act 2015 and the Consumer Insurance (Disclosure and Representations) Act 2012.

What you agree to do

• You must pay your premiums on time (if you miss payments, your cover may lapse with no value).
• You must answer all health and lifestyle questions honestly and completely when applying.
• You must inform Aviva of any material changes to your health or circumstances if asked to do so at any point during the policy.
• You must ensure your nominated beneficiaries are kept up to date.

What you can ask for

• You can cancel within 30 days of receiving your policy documents and receive a full refund of premiums paid.
• You can place the policy in trust so that the payout goes directly to your beneficiaries without passing through probate.
• You can increase your cover without further medical evidence following certain life events (marriage, birth of a child, new mortgage) if your policy includes a guaranteed insurability option.
• You can take unresolved complaints to the Financial Ombudsman Service.

Points worth knowing

• Non-disclosure can lead to a claim being refusedUnder the Consumer Insurance (Disclosure and Representations) Act 2012, if you fail to disclose a material fact (such as a pre-existing health condition, smoking, or hazardous hobbies), Aviva can reduce the payout proportionally or refuse the claim entirely.
• No cash-in value if you cancel or the term expiresTerm life insurance has no surrender or cash-in value. If you cancel mid-term or outlive the policy, you receive nothing back. All premiums paid are lost.
• Exclusions for suicide within the first yearMost Aviva life policies exclude death by suicide within the first 12 months of the policy. If the policyholder takes their own life in this period, the claim will not be paid.
• Critical illness definitions are narrowIf you add critical illness cover, the conditions covered are defined precisely by Aviva. Some illnesses you might consider critical (such as early-stage cancers or partial disabilities) may not meet Aviva's definition, leading to a declined claim.

Dates and deadlines

Monthly premium

Due monthly by direct debit; cover may lapse if premiums remain unpaid for more than 30 days

Cooling-off period

30 days from receiving your policy documents (cancel for a full refund within this window)

Policy term expiry

The date your cover ends, as stated in your policy schedule (no payout is made if you outlive the term)