Aviva has introduced a number of updates to its group risk plans, following its merger with Friends Life.
The range consists of:
* Group Income Protection. A range of deferred periods, benefit levels and payment terms is allowed. Maximum basic benefit is £425,000 a year.
* Group Life. Spouses and partners can also be covered. Maximum benefit is 15 times salary.
* Group Critical Illness. Pre-existing conditions are automatically excluded. Up to 25% discount is available on a range of UK health clubs. Maximum benefit is £500,000 and spouses/partners can be covered too.
* Group Cancer Cover. This offers a low cost plan with a fixed benefit of £25,000 per member.
* Flexible Benefits. This allows employers with at least 250 employees the flexibility to include group protection covers within Aviva’s Flex-pertise plan.
Some of the new features introduced include:
* an optional benefit allowing employees who have previously been diagnosed with cancer access to group CI and group cancer only cover. The CI benefit is paid on diagnosis of a new, unrelated cancer as defined by the policy terms.
* some enhancements to the existing critical illness definitions.
* members get discounts on a range of general insurance products including home, travel and car insurance.
* a wide range of value added services including access to:
* support service RedArc and its Personal Nurse Adviser service
* specialist second opinion service Best Doctors
* a stress helpline provided by Care First
* a bereavement and legal helpline
* a Home of Health website that encourages employees to learn more about their health
* an employee assistance programme (EAP), as part of the income protection product, provided by Care First. This now offers up to eight face to face counselling sessions and is available to all of a policyholder’s insured and non-insured employees.
The new plans are available to existing clients of Aviva and Friends Life on their next renewal, with current terms and conditions applying until then.
What They Say
Steve Bridger, managing director group protection, said: "We want to offer our clients and members the best possible security and support when they need it most and the proposition we have created does exactly that.
"We’ve taken a good look at the market and adapted our products to create a better fit with people’s lives. More and more people are surviving cancer and then going back to work and it was important to recognise that. I’m really pleased we can now offer cover to people who have previously been diagnosed with the illness."
What We Say
"Aviva’s merger with Friends Life has given it the opportunity to combine the best elements of both organisations and its new group risk proposition looks to offer a pretty comprehensive range of covers. In particular, it now offers a range of services designed to provide more than just money if a claim is made and also for areas such as bereavement.
"Of special note is that cancer sufferers can now get CI and cancer only cover, albeit only for new cancers diagnosed.
"In terms of underwriting, high free cover limits, a once only underwriting approach for standard group schemes and teleinterviewing where individual underwriting is required, should all help make setting up the scheme relatively easy."