Aviva launches 'simplified' income protection

Sold through advisers

clock • 2 min read

Aviva has launched a simplified income protection product called Living Costs Protection, which the insurer anticipates should prove "more affordable" for customers.

Customers select a monthly fixed benefit of between £500 and £1,500 and the claims payment period is up to 12 months per claim. At claim stage, there is no financial assessment, and no deductions are applied. The customer will receive their selected benefit amount once Aviva has accepted their claim. In addition, there is no limit to the number of claims a customer can make. It is also described as suitable for fluctuating incomes such as those of the self-employed and contractors, where the income-based benefit calculation required for traditional income protection at both point of s...

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