Premium deferral update for individual protection customers

 It’s more important than ever for customers to have the right protection and to maintain their chosen amount of cover – so it’s there in full to support them and their loved ones when they need it most.

To help our customers contend with the ongoing impact of the Coronavirus we are extending our payment deferral facility for our protection customers and updating our eligibility criteria until further notice.

Individual protection customers, who are struggling financially due to Coronavirus (COVID-19), can apply to defer payments for 3 months and spread repayments over the following 9 months. This means customers with life insurance, critical illness, income protection, over 50s or whole of life policies can take a break from payments while retaining their current benefits and levels of cover. We are making this available to customers with personal or business individual protection policies.

Customers will be able to request a payment deferral by visiting this website. Once customers apply, we will take care of the rest of the process – with no requirement for any action from you as their adviser. There will be no change to any policy benefits, ensuring cover remains in place.


The eligibility criteria customers must meet to be eligible to apply for a premium deferral is:

  • This option is only available where the existing terms and conditions of your policy do not allow payments to be missed or deferred. Your policy documents will confirm whether this applies to your policy.
  • You are either the Policyholder or one of the joint Policyholders.
  • Your policy must have started at least 6 months ago and you must currently have no more than 2 monthly payments outstanding.
  • You've not already taken a payment deferral on your policy.

You can apply if:

  1. your household finances have been negatively impacted as a result of the Coronavirus. For example, you’ve been made unemployed; are working fewer hours; are self-employed and unable to trade, or to trade at normal levels; and
  2. you expect your household finances to recover by the end of the payment deferral period and will be able to make your normal payments and repayments when they become due.

You can also apply if you’re acting for a business which holds a policy with Aviva if:

  1. the business has been unable to trade at normal levels as a result of Coronavirus; and
  2.  you expect the business to be in a position to make normal payments and repayments when they are due after the payment deferral period.

Aviva reserves the right to request evidence or make further enquiries on your circumstances before agreeing to your request to defer payments.

How does it work?

  • Customers can apply at any time for their 3-month payment deferral.
  • One 3 month payment deferral can be applied for on each eligible policy by visiting this website where they’ll find full eligibility details and can fill in an online form. (If a customer doesn’t have internet access, they can contact us on the number detailed on their policy documents.)
  • Once submitted, we’ll get back to your customer with a decision.
  • The full benefits provided by the policy will be maintained during the period in which payments are deferred.
  • Normal payments will continue from the 4th month onwards, with the deferred payments being repaid over a period of 9 months or the remaining term of the policy, if shorter.
  • The balance of deferred payments can also be paid as a lump sum by your customer should they wish to accelerate repayment.
  • There will be no impact on commission.
  • There will be no change to your customer’s sum assured or other policy benefits.
  • If a claim is made during the repayment period, we’ll deduct the outstanding amount from the claim payment – as is our normal process.
  • The above applies specifically to monthly premiums. Other payment frequencies may be eligible – please speak to your Aviva contact for details.

If your customer’s financial hardship is expected to last longer than 3 months, it may be more appropriate for you to consider other contractual options with them under their policy terms and conditions where there may be options to permanently alter the policy benefits with a corresponding impact to customer payment. We’ll let customers know that seeking advice from their Financial Adviser is important if they are in any doubt as to the most appropriate course of action for their individual circumstances.

We hope that by offering this payment flexibility, together we can make sure customers can maintain their cover at a time when they may need it most. For more information please visit our website or speak to your Aviva contact.