Introducing a rolling 40-day quote guarantee for individual annuities

We’re enhancing our current 40-day quote guarantee for Pension Annuities and Immediate Life Annuities to simplify the journey and give customers more certainty.  

Responding to valuable adviser feedback

Previously, if a customer’s application wasn’t completed within the 40-day quote guarantee, they were exposed to Aviva annuity rate changes. This meant that their income could vary multiple times before completion. Some customers then needed their application re-submitted to secure a new 40-day quote guarantee, which you told us can take up valuable time. We’ve listened to your feedback about the lack of certainty when the 40-day quote guarantee expires and we’re enhancing our proposition. 

Less admin for you, more opportunity for customers to complete

Our data shows that around 72% of our customer applications complete within the 40-day quote guarantee. To enhance the experience for the remaining 28% we have looked at how we can make further improvements.

That's why we've introduced a new rolling 40-day quote guarantee. We’ll use the current Aviva annuity rates to guarantee the customers' income for another 40 days. This gives customers extra security and reassures them that their income is guaranteed, regardless of any changes to Aviva annuity rates during this period.

Plus, you don’t need to do anything at the end of each 40-day period. We’ll send an email or a letter confirming any changes to the customers income and the new quote expiry date.

We’re always looking for ways to enhance our products

By listening to your feedback and looking at the data, we identified that introducing a rolling quote guarantee simplifies the journey for customers and saves you time.

Want to find out more? Read about the annuities we offer.