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Daily Insurance Industry News
Saturday 21st of July 2018
February 24, 2010

Aviva promotes life and critical illness coverage

by Richard Kilner

Story link: Aviva promotes life and critical illness coverage

Aviva promotes life and critical illness coverage

New research commissioned by Aviva has revealed that the British household would only have enough money to cover bills for a fortnight should they or a partner suffer critical illness or death.

According to the research 24% would be able to access only £100 without borrowing, and that without borrowing the average household would have access to only £914, under half of average weekly expenditure (£471).

This is a figure dwarfed by the average Aviva critical illness payout of £78,707.

The insurer has warned that most Britons are unprepared for catastrophe, with only 37% possessing life or critical illness coverage.

Fifty-nine percent of Britons consider it the individual’s responsibility to cover any drop in income, but 17% believe it is the government’s responsibility with 9% expecting loss in earnings due to illness or death be covered by the employer.

Aviva’s Louise Colley has said that proper coverage can help alleviate money worries during a tragedy such as critical illness or death, and has encouraged households to take up life and critical illness coverage.

 

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