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aviva life insurance ceasing?
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mikehobbs
Posts: 37 Forumite
hello, ive had aviva life insurance for a while it was with RBS but then they give the policy to aviva, anyway ive just recieved a letter saying the policy is ceasing in june, so is that it, ive given them money for a life cover and now ive got nothing but they have had my money? seems pointless to bother having one if at any point they can say oh its finishing thanks for your money
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hello, ive had aviva life insurance for a while it was with RBS but then they give the policy to aviva, anyway ive just recieved a letter saying the policy is ceasing in june, so is that it, ive given them money for a life cover and now ive got nothing but they have had my money? seems pointless to bother having one if at any point they can say oh its finishing thanks for your money
Plain vanilla (term) life insurance always comes to an end. You insure your life for 25 years, and if you are still alive at the end of that period, you breath a sigh of relief, and that's about all.
It's just like buying buildings insurance, you pay a few hundred quid a year to cover yourself against the possibility that your house might get burned down, but you don't get any money back if it doesn't, if only because what you have paid goes towards covering the cost of the pay out to those people whose houses have burnt down.0 -
ive given them money for a life cover and now ive got nothing but they have had my money? seems pointless to bother having one if at any point they can say oh its finishing thanks for your money
Not often you see someone complaining about being alive.
You agreed to pay £x pm for y years in return for Aviva paying out a lump sum if you died in that period. Thankfully you did not die. However, had you died, they would have paid out.
This is the basis of insurance. Car insurance, house insurance etc etc.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
is it generally a 25 year term? as im only 32 and it was only around 8 years ive had the cover0
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is it generally a 25 year term?
it is whatever you want it to be.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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