Guaranteed Fixed Term Income Plan - FAQs

What do I need to do to be able to trade with you when we launch?

• You will need to have an active agency with Aviva to obtain online quotes. If you wish to use our digital application you will need to register for an Online Account Number, which can be requested via our Adviser website. 

Which portals can I get a quotes from?

• You can get quotes through AMS, Iress, iPipeline, and Synaptic.

How do I apply for your Guaranteed Fixed Term Income Plan? 

• You can either apply via our digital application form or submit an application into our Aviva New Business team (annuityapps@aviva.com).  If you are using the digital apply journey, once you have produced a quote in the portal, an option will be shown to continue online and the quote information will pre populate the application form. 

Can I partially save an online application and return to it later?

• Not currently, therefore we recommend only use the digital application if you have all the information available.

Can customers use part of their pension fund to buy our Guaranteed Fixed Term Income Product?

• Yes, customers may use a portion of their pension fund through a partial transfer, subject to the ceding scheme allowing this. 

Do we accept both crystallised and uncrystallised funds?

• Yes, we can accept multiple uncrystallised funds into 1 policy. If funds are in drawdown or a combination of uncrystallised and crystallised the customer would need to have multiple policies with us.

How do the tax rules work on income and death?

• Income payments are subject to income tax. If a lump sum death benefit is selected by the beneficiary, it will also be subject to tax. If the policyholder dies before age 75, the benefits will usually be non-taxable. For death after age 75, any benefits are subject to income tax at the beneficiaries marginal rate. 

Will we accept in-specie transfers in?

• No, we do not accept in-specie transfers.

I would like some further support, who should I contact?

• Our team at Aviva are here to assist and our contact details can be found here. 

How long do we guaranteed our rates for?

• We provide a rolling 40-day quote guarantee.  If the application does not complete within 40 days a new 40-day quote guarantee is given to the customer upon expiry of each guarantee period based on the most current Aviva annuity rates.

Can we accept Pension Sharing Order money and or Widows pension?

• Yes, subjecting to the transfer is permitted by the Sharing order or Ceding scheme.

How can I get a quote for cases above £1 million?

• All quotes should be started on the portal and referred into annuity@aviva.com with the quote ID for manual underwriting.  If accepted Aviva will issue and send you a key facts illustration.

How Do I submit an expression of wishes?

• Our expression of wishes form is available here.

Can we facilitate a taxable lump sum from the amount of funds received? 

• No, we cannot facilitate this.

When does the cancellation period commence?

• The COBs rules are 30 days from the date that the customer receives notification the plan is set up, which starts 10 days from when the documents were sent.

Can we accept transfers from an unregistered pension scheme?

• No, we can’t accept unregistered pension schemes.

Can we accept funds from AVC’s?

• Yes, subject to these being registered and from a UK registered scheme.

Can multiple uncrystallised funds be combined into a single policy?

• We can accept multiple uncrystallised funds with multiple providers into one product