This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Aviva Addresses Growing Consumer Need With Accelerated Access Policy Rider

Stocks in this article: AV

Aviva USA has introduced a new life insurance rider that provides increased flexibility to customers purchasing select Indexed Universal Life policies. The Aviva Accelerated Access rider allows customers who are diagnosed with a chronic illness quick access to funds from the policy’s death benefit.

This concept of “living benefits” – a payout of death benefits in advance as critical health needs arise – meets the growing demand from consumers facing unexpected and increasing costs associated with their illness.

“For years, we have led the industry in Indexed Universal Life insurance and in finding ways to help protect our customers’ financial condition,” said Chris Jones, Aviva USA chief marketing officer. “Our Wellness for Life rider rewards you for living a healthy lifestyle, and the new Accelerated Access rider offers a financial safety net should chronic illness occur later. Bundled together, the two riders can help provide options and a financial contingency plan.”

With the Accelerated Access rider, a customer certified as chronically ill by his or her physician and who meets all eligibility requirements may access a majority of the life insurance policy’s death benefit, generally on a tax-free basis. The proceeds can be used by the policyholder to help pay for costs incurred in living with their condition – including nursing home costs, family care, assisted living, adult daycare, home health care or toward their mortgage.

“Our new rider differs from Long-Term Care insurance in that it can be more affordable and flexible, and provide a death benefit while helping to meet the costs associated with the care a customer may need,” said Jones. “This takes a burden off an individual with a critical health issue. Coupled with our Wellness for Life rider, it makes Aviva’s Indexed Universal Life offering unmatched.”

According to AARP, 70 million Americans age 50 and older suffer from at least one chronic condition, and 11 million live with five or more chronic conditions. While not all potential chronic conditions will meet the requirements of riders like Aviva’s, due to medical advances that extend life expectancy, the demand for funds to live with a chronic condition will only increase.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,740.35 +62.45 0.37%
S&P 500 1,957.91 +7.09 0.36%
NASDAQ 4,465.0210 +12.2290 0.27%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs