GENERAL ACCIDENT INSURANCE
General Accident Insurance Company was founded back in 1885 in Scotland. In 1996 they acquired Provident Mutual then in 1998 General Accident [GA Life] and Commercial Union merged to form CGU plc.
In 2000, Norwich Union merged with CGU & upon merging they formed CGNU Life Insurance Group which in 2002 was renamed as the Aviva group. In 2008, Aviva Life Company announced that they were intent on phasing out over the next few years the 200-year-old brand name of Norwich Union and would then just trade around the globe as Aviva.
General Accident used to have alliances to sell their insurance protection products to their customers via Estate Agents like Your Move, various Banks & Building Societies as well as via brokers. General Accident Insurance was also once a major force in the protection market place with its direct sales force.
In 2013 Aviva relaunched the General Accident Insurance brand but for car insurance only.
Although no longer available for new UK protection business, you maybe able to amend or adjust your existing General Accident life insurance policy by contacting either Aviva or a Financial Adviser or Independant Broker.
Looking in 2021 to compare old General Accident Life Insurance products or new Aviva Life Insurance.
GENERAL ACCIDENT LIFE INSURANCE - OLD PRODUCT REVIEW 2020
GENERAL ACCIDENT MORTGAGE PROTECTION
Designed to cover a repayment mortgage on death or terminal illness as it decreases during the plan term.
GENERAL ACCIDENT WHOLE LIFECOVER
A whole of life policy that will always payout whenever death may occur.
GENERAL ACCIDENT LIFE INSURANCE
Offering family protection if the policy holder dies or is diagnosed with a terminal illness during the term.
GENERAL ACCIDENT CRITICAL ILLNESS COVER
Helps ease financial worries if you are diagnosed with a critical illness as specified by General Accident Life Insurance.
GENERAL ACCIDENT INCOME PROTECTION
Providing security by way of an income if you are off sick or have an accident or disability.
GENERAL ACCIDENT BUSINESS PROTECTION
Offering company protection for a key person, loan cover, share protection, an employee dies or is diagnosed with a critical illness.
GENERAL ACCIDENT ENDOWMENT POLICY
Offered protection if the policy holder dies or is diagnosed with a critical or terminal illness during the mortgage plan term; Designed to provide a lump sum at the end to be used usually toward repayment of an endowment interest only mortgage loan.
GENERAL ACCIDENT (AVIVA) LIFE INSURANCE - Frequently Asked Questions
Can you make changes to General Accident life insurance policy ?
In terms of changing your life insurance policy, often you can request some of the following via Aviva:
The changes could be subject to medical underwriting based on your circumstances at the time & may well affect your premiums.
What if my health or lifestyle changes after I have taken the policy out ?
Life Insurance cover is based on full disclosure at the time you took the policy out ie; being 100% as honest & accurate as possible. So any health or lifestyle changes since usually does not void your existing policy, as it wasn't relevant at that time of initial application. Please check your original T&C's
How do I make a Death Claim ?
Check firstly if premiums are still being paid or alternatively is the policy perhaps "paid up" meaning no further premiums were needed.
Then contact the Insurers claims line to inform them. They will provide you with their claim form for completion. You will need to send in a number of documents, most importantly being the death certificate proving the cause of death.
Insurers ( as well as other Providers ) will need the original death certificate, so ideally ask for several certified copies. Enclose your policy document, if you can find it and then send by recorded delivery or registered post to Insurers.
Once received, the Insurers usually cross check all information before processing and settling a valid claim ie; was the medical & lifestyle information correct at the time of original application
If everything is hopefully in order, the Insurer may pay out a claim & usually in a matter of days or weeks.
Death Claims, GA Life Insurance Trusts & Life of Another
Who the life insurance maybe actually then paid out to can be more complicated & many people wrongly assume it is a simple process.
If it is a joint life 1'st death policy or if it single life policy owned by another person " life of another" then it will just be paid to the survivor.
However, if it is a single life policy it can be more complex. Check if the policy was setup & written into a trust. If so the Insurer will pay the life insurance via the trustees named to the nominated beneficiaries directly. Sometimes there are a named beneficiary & others times a list of potential beneficiaries. The life insurance paid out doesn’t have to be included in the legal documents sent for probate and potentially it won’t be liable for inheritance tax either.
Should I put my General Accident / Aviva Life Insurance policy into Trust ?
If the life insurance wasn’t written into trust, it will be paid to the executors of the deceased’s estate. They will handle the administration, known as probate in N Ireland, England, Wales and confirmation in Scotland. If not, the benefits will fall into your estate if you died prematurely. If you have not made a will this can then cause further complications with the life insurance monies.
Until probate is fully granted, no monies can be paid out to those named in the will. On average, this can take upto 6 months. By not placing the plan into trust may also swell up the total estate values, leading to potentially Inheritance Tax IHT issues
So placing a policy in trust can help to ensure that the policy proceeds go to the correct beneficiaries you decide to nominate at that stage & help avoid possible probate delays & IHT costs. Ask the Insurers if they provide any standard trust form wordings & seek legal advice if unsure.
If I started smoking after taking out my General Accident Life Insurance - Do I need to now tell them ?
If you had legitimately stopped smoking for over 12 months at that time of original application, you may wish to advise the Insurers you have started smoking again - but this should not affect the original policy terms which should still stand - you were being honest. Also maybe suggest letting your GP know if this is the case.
Review on: General Accident Insurance ~ for more information visit www.aviva.co.uk *
( * Note: You are now leaving the regulated site of Uk Life Insurance Quotes. Neither ourselves, nor Sesame Ltd, is responsible for the accuracy of the information contained within the linked site.)
FOR PROTECTION PRODUCTS WE USUALLY OFFER FROM A RANGE OF PROVIDERS
General Accident Life Insurance