Aviva Over 50 life insurance review

Monthly premiums from £5
Full cover after just 12 months
Access to Aviva DigiCare+

Updated 1st February 2024 - I have reviewed Aviva Over 50 Life Insurance to help you understand more about the company and the services they offer. Here’s what I found:

Aviva is the UK’s largest provider of pensions and life products.

This review of Aviva Over 50s life insurance is intended as a guide to help you understand the features and benefits of the plan, the options available and things to consider. Do make sure you read, understand and are happy with the terms and conditions of any plan you decide on.

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Why Choose the Aviva Guaranteed Lifelong Protection Plan

Pays a guaranteed cash sum when you die
If you are living in the UK and aged between 50 and 80, your application is guaranteed to be accepted
Premiums range from £5 to £100 a month depending on your age
Your monthly payments are fixed and will never change
Payments stop after 30 years or when you reach 90 but you continue to be fully covered for life
You are covered for the full cash sum after just 12 months - if you die within the first 12 months Aviva will refund all the premiums paid
You are covered immediately if you die as a result of an accident and if death occurs after the first 12 months, the cash sum paid out would be doubled
Cover includes access to health and wellbeing services

Things to consider

Unless you die as a result of an accident, you are not covered for the first 12 months – instead your premiums would be refunded to your estate.
As the cash sum is fixed, inflation will reduce its value over time.
There is a chance you could pay more in premiums than the plan pays out. It all depends on how long you live.
As the cash sum normally forms part of your estate, it may be subject to inheritance tax.
If you stop paying your premiums before your 90th birthday, your life cover would stop and no money would be paid out.

Next steps

My review of Aviva Over 50 Life Insurance is designed to help you compare plans and find the best option for you. I would always recommend that you review all of your options to ensure you’re getting the best deal that suits your budget and needs.

There are a range of companies offering over 50 life insurance and whilst the Aviva plan could be right for you, we would always advise that you get several quotes before making your choice.

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