Since launching its exclusive Relevant Life product in 2016, there has been some confusion around the terms of the policy. To reassure customers and ensure transparency, Aviva has replaced the critical illness cover with a new “employee significant illness cover”.
By working with key stakeholders, as well as HMRC themselves, Aviva has evolved the tax efficient policy so that partial payment options have been removed and only the most serious conditions, such as advanced cancer, stroke, and serious heart attacks, are now covered.
The last thing any provider wants is to cause confusion and potentially uncertainty. This makes it difficult for advisers when talking to clients, as trust is essential when it comes to making recommendations about such an important element of their financial planning. Aviva believe this change will provide the clarity needed.
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