In a first for the Australian life insurance industry, Aviva is offering access to medical reviews from the world’s top experts with their market leading critical illness cover now providing care, as well as cash when needed.
In a first for the Australian life insurance industry, Aviva is offering access to medical reviews from the world’s top experts with their market leading critical illness cover now providing care, as well as cash when needed.
At no extra charge for customers of an Aviva Critical Illness policy, the post critical illness care service provides the opportunity to receive a medical review and diagnoses from a global expert panel plus a report about the condition and critical illness treatment options.
According to Rob Donaghy, Aviva’s group director products, marketing and public affairs, insurance cover for a critical illness is an essential component of any financial plan – because it provides financial security during the illness and the recovery.
In Australia, a 35 year old male has more than twice as much chance of suffering a critical illness compared with the risk of dying[1]. And many people who are diagnosed with a critical illness make a full recovery and go on living for many years.
“Of course many people simply think ‘it isn’t going to happen to me’ but unfortunately it can. At Aviva we’re not concentrating on the bad news associated with the critical illness, instead we are looking at the better story – the survival rates,” said Rob.
“And we are looking to help grow those rates to even higher levels by giving customers access to medical advice which may not be available within Australia and therefore further treatments that may not have been considered. Imagine that – a life insurance product which might actually provide the opportunity to find the medical solution for our customers,” said Rob.
An Aviva Critical Illness policy provides a lump sum payment upon the diagnoses of specifically defined major medical conditions, such as cancer, coma, heart attack, heart surgery or stroke. The costs associated with a critical illness include medical treatments, rehabilitation services, and lost or reduced income.
Some families will currently find they are extremely under insured against critical illness. Unfortunately other income streams, such as social security, sick leave, workers’ compensation and superannuation may not cover the financial cost associated with suffering a major medical condition.
“At Aviva we realise the importance of covering people for critical illnesses and our product is designed around providing the best financial protection available – and also offering innovative extras which provide peace of mind for our customers when they need it most,” said Rob.
The post critical illness care service available on the Aviva Critical Illness policy is provided by International SOS – a global service with medical experts acknowledged worldwide for their ongoing contribution to medical research from some of the world’s leading medical institutions.
Aviva is continually improving their life insurance suite of products, and has recently added a number of new features, including:
- Clients can re-instate up to 75% of critical illness cover after a claim
- Improved critical illness definitions
- An advanced death payment to cover funeral costs
- Enhanced business protection.
-ends-
[1] Pricing Dread Disease Insurance 1994. Report presented to Institute of Actuaries of Australia by Edward Fabrizio and Warren K Gratton.
For further information please contact:
Simon Morgan
Group General Manager Public Affairs
Phone: (03) 9829 8892
Mobile: 0407 966 632
Notes to editors:
- Aviva Australia is a group of two specialist financial services companies: Navigator and Norwich Union Life Australia Ltd. Portfolio Partners is the Australian funds management arm of Aviva plc. Through these companies we provide products and services in the areas of wealth creation and wealth protection for more than 300,000 customers throughout Australia
- Globally, Aviva Australia is part of Aviva plc, the world’s sixth largest insurance group, the largest insurer in the UK and one of the top five life companies in Europe. Aviva was formed in May 2000 through the global merger of CGU plc and Norwich Union plc
- Aviva is a leading provider of life and pensions products to Europe and has substantial businesses elsewhere around the world. Its main activities are long-term savings, fund management and general insurance. It has premium income and investment sales from continuing operations of A$77.6 billion, and more than A$683.9 billion of assets under management (as at 9 January 2006). The group has more than 60,000 employees and 30 million customers worldwide
- The information in this document reflects Aviva Australia Holdings Limited understanding of existing legislation, proposed legislation, rulings etc as at the date of issue. In some cases the information has been provided to us by third parties. While it is believed the information is accurate and reliable, this is not guaranteed in any way. The information given in this document is of a general nature and has not taken into account the investment objectives, financial situation or particular needs of any particular person and it is not a substitute for professional advice. Applications to invest in a financial product issued by Aviva, or any of its related entities, must be made by completing the application form attached to the applicable Product Disclosure Statement ("PDS"). A PDS is available from Aviva or your financial adviser. Before making an investment decision on the basis of the information above, a prospective investor needs to consider, with or without the assistance of a professional adviser whether the information is appropriate in the light of their particular investment needs, objectives and financial circumstances. Aviva does not receive any remuneration in relation to the provision of information available from this press release which is of a general nature only.