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June 16, 2011updated 13 Apr 2017 8:48am

Aviva goes for speed with Simplified Life

That is the promise from UK insurer Aviva which claims 80% of consumers who apply online using the "super-fast quote and apply tool" for its Simplified Life product, with cover up to £500,000 ($800,000), will have an "on-the-spot decision" within a few minutes

By LII editorial

A decision on a life policy application within minutes. That is the promise from UK insurer Aviva which claims 80% of consumers who apply online using the “super-fast quote and apply tool” for its Simplified Life product, with cover up to £500,000 ($800,000), will have an “on-the-spot decision” within a few minutes.

“Our sophisticated underwriting system enables four out of five people to be covered in a matter of minutes, without the need for further checks and medical reports,” said Aviva director of protection marketing Richard Verdin.

According to Aviva, Simplified Life is the first of its kind and was developed in response to research indicating that many people are put off by complicated systems and the length of time it took to get life cover.

Simplified Life offers level and decreasing term cover and customers can be accepted on both standard and non-standard terms.

Aviva noted that customers who do not get an immediate online decision will normally be referred to its manual underwriting system and will be covered for double the amount of cover applied for up to £1m maximum.

In half of delayed applications, the customer will still get a decision within 24 hours, according to the insurer.

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