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Immediate Life Annuity

What are the options?

The options you choose when you take out your Immediate Life Annuity will affect the amount of cover you'll get. Generally, the more you add, the lower your starting income will be. You can get a personal illustration from your financial adviser which will show the difference the various options would make to your income.

  • Longest Life Benefit. If your plan covers two people you can choose for payments to reduce on either the first death or the death of the named person. This reduction can be up to 50%.
  • Capital Protection. You can choose to take smaller payments to protect your capital so that when you die, if the total payments (before tax) we've paid you are less than your single contribution, we'll pay the difference to your estate.
  • Escalating income. Your regular income will start off lower, but will increase by a fixed percentage each year for the rest of your life.
  • Guaranteed period. Aviva offers a minimum one year guarantee period as standard, however you can choose a longer guarantee period of up to 10 years. If you die after 90 days but within your guarantee period, we will continue to make annuity payments to your estate or dependants until the end of that period.

Payment options

Your income can be paid monthly, quarterly, half-yearly or yearly, either:

  • In advance. This means that payment of your income will be from the start date.
  • Or in arrears. This means that payment will be one month, quarter, half-year or year after the start date, depending on your chosen payment frequency.

How to apply

If you think that our Immediate Life Annuity is right for you, find out more about how to apply. If you need help deciding which annuity or options are most suitable for you, or you'd like information on other providers' products, you should talk to a financial adviser. If you don't already have an adviser, you can find one in your area at

Want to find out more?

Call us on 0800 068 3038

Lines are open Monday to Friday 9.00am - 5.00pm. Calls may be recorded and/or monitored

WC01036 10/2014

Contact us

For new policy enquiries or information on our products please call

0800 068 3038

Monday to Friday
9.00am - 5.00pm

For our joint protection, telephone calls may be recorded and/or monitored.

Or, arrange for us to call you back at a convenient time.

Existing Customers

If you are an existing Annuities customer, please call

0800 068 6800

Monday to Friday
8.30am - 5.30pm
8.30am - 2.00pm

For our joint protection, telephone calls may be recorded and/or monitored


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