Article date: 11 July 2009
- A revolutionary offer to raise awareness of the need for family protection
Aviva today announced the launch of an offer providing £10,000 worth of free life
cover for new parents in the UK1.
It’s a well recognised fact that the protection gap in the UK is an astonishing £2.3
trillion, a figure that has not changed in the last five years. Research released by
Aviva’s UK Life business today suggests that over half of parents in the UK (56%)
would leave their dependent children with little or no financial protection in the
event of death. Almost 40%2 of parents polled have not bought life insurance
cover, with a further 17% of those polled only having sufficient life cover to repay
Having a child is a key event in anyone’s life, but arranging life insurance does not
always top the to-do list. Now, under the Aviva initiative, each parent who registers
before their baby is six months old, will receive £10,000 worth of life cover at no
cost to them, to run until the child’s first birthday.
Although this is a fraction of the cover a family needs, the offer recognises that new
parents do not always consider, or have the time to purchase, family protection
when they have a young baby. This offer seeks to remind parents of the
importance of financial protection for their family, so they can do something about it
as soon as they have the time. Whilst the offer is aimed at new parents, Aviva will
be using this initiative to raise awareness with all parents about the need to plan
financial protection for their families.
Throughout July and August, Aviva is running a campaign across TV and press to
promote it’s free life cover offer.
Louise Colley, head of protection at UK Life, Aviva, says: “We are bringing to
market a truly revolutionary offer, the aim of which is to encourage all families to
consider their financial protection needs.
“What Aviva is doing will raise awareness with consumers and highlight the fact that
life insurance isn’t just something you put in place to protect your mortgage, but
something you should arrange to provide financial security for your children.
“The birth of a new baby is an ideal time to begin thinking about family life
insurance needs. Unfortunately this rarely happens. The free offer from Aviva is
designed to put in place cover, which we appreciate will be insufficient for most
families but it is a start which we hope will capture new parents imaginations and
lead them to seek advice about their individual and specific needs.
Louise adds: “This offer can be arranged through advisers, a point that will be made
in our advertising, providing a real opportunity for advisers to create a dialogue with
new and existing customers about family protection. No other provider has taken
this bold step. This is a first in the market and demonstrates Aviva’s desire to
support financial advice and the benefits it can bring to all families.”
Advisers can register clients for this offer from Monday 13 July through
Aviva’s adviser portal www.aviva-for-advisers.co.uk
For further information:
Aviva Press Office
Holly Smart, Tel: 01904 452766 / out of hours 07800 699218 / E:
Notes to editors
Aviva commissioned research with Redshift amongst 2,161 parents with children
under 16 between 15-19 June 2009.
1 Exclusions apply, please see attached Terms and Conditions
2 38% of parents polled have not purchased life insurance
The Aviva new parents initiative launches on Sunday 12th July and applications will
be accepted from that date. There is no current end date to this promotional offer
and we reserve the right to alter or withdraw the offer at any time.
- Aviva is one of the UK’s biggest life insurers. It is the world’s fifth largest insurance group, operating in 28 countries, and one of the leading providers of life and pension products in Europe.
- In the UK, It is a leading provider of life, pensions and investment products and one of the largest Financial Adviser (FA) providers. FAs provide over 70% of the company's long-term savings business in the UK.
- Aviva has strategic alliances with building societies and other leading UK brand
names including CIS and The Royal Bank of Scotland Group. Aviva’s news releases and a selection of images are available from our on-line media centre at www.aviva.com/media
- On 1 June 2009 Aviva became the new name for Norwich Union. Aviva is now
the customer brand worldwide, enabling the company to compete even more
effectively on a global scale for the benefit of customers, staff, business partners and shareholders.