Aviva Life Insurance and Annuity Company is the world’s fifth-largest insurance group and is quickly becoming the industry leader for universal life insurance in the United States. With over 50 million customers worldwide, the company has made a strong push to focus on life insurance policies, and almost always offers one of the lowest premiums for permanent life insurance. Their limited-pay universal life policies are a very attractive option as well, allowing you to stop paying premiums at a specified time (e.g. at age 65, or 10-20 years after the policy is issued) and still have the death benefits guaranteed for life. Aviva’s current product portfolio includes:
- Annual renewable term insurance – TermInsuranceBrokers does not recommend purchasing annual renewable term insurance. The premiums are low in the initial years, but increase every year based on age and it is a better idea to lock in your premiums for a guaranteed period of time.
- Term insurance – premiums and death benefits fixed and guaranteed for a period of 10, 20, or 30 years
- Guaranteed UL Solution – a universal life insurance policy with premiums and death benefits fixed and guaranteed for life, up to age 121. The policy includes a cash value accumulation and a no-lapse guarantee protection rider. Interest rates are fixed and the policy includes a guaranteed minimum interest rate. Limited pay options are available.
- Advantage Builder Series III – a universal life insurance policy with premiums and death benefits fixed and guaranteed for life, up to age 121. The policy includes a cash value accumulation and a no-lapse guarantee protection rider. Interest rates are declared based on the performance index that you choose. Limited pay options are available.
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