Presentations for the Golden Crown competition were made at the Hotel Prague. Most Popular Financial Product of the Year was the Aviva Personal Life Plan, which was voted top by the public for the second year running.
Presentations for the Golden Crown competition were made at the Hotel Prague. Most Popular Financial Product of the Year was the Aviva Personal Life Plan, which was voted top by the public for the second year running.
The expert jury also awarded a Bronze Crown in the Life Insurance category to Aviva Life Insurance Company’s Talisman insurance for children. The results of the competition confirmed that Aviva is rightly regarded as a specialist in investment life insurance, and is the effective leader in quality service provision in the Czech Republic.
"Although Aviva is not one of the largest insurance companies in the Czech market, it is known as a specialist in investment life insurance, and this is mainly due to the top quality of our products. We are pleased that Czech specialists and the Czech public have found a common language and have come up with a similar evaluation of our products," was how Petr Krejčí, Aviva commercial director, reacted to his company’s success as he received the awards on behalf of Aviva.
A total of 144 financial products were entered for this third running of the annual Golden Crown competition, and a financial academy made up of 100 financial experts and economic publicists voted in a total of 14 categories.
The results of the Golden Crown competition confirmed the primacy of life insurance among financial products in the Czech market. The Life Insurance category, in which Talisman was awarded a Bronze Crown for third place by the financial academy, attracted the greatest number of entries of competing products.
Meanwhile in the public voting for Most Popular Financial Product of the Year, life insurance companies picked up all three crowns. The Personal Life Plan, last year’s Silver Crown winner, came first in this year’s battle for crowns and picked up the Golden Crown for Most Popular Financial Product of the Year. The public were able to vote via the financial server www.zlatakoruna.info.
In comparison with traditional savings and some simple children’s insurance policies, the Talisman Aviva Life Insurance Company, which was awarded a Bronze Crown by the financial academy, is exceptional in that it insures not just children, but one of the parents too.
In the event of the death of an insured parent, the insurance company takes on premium payments for the insured parent until the end of the insurance term and additionally indexes the premium by 5% per annum. In addition to basic savings and accident insurance, Talisman is also the only organisation in the Czech market to provide supplementary insurance against serious illnesses and serious fractures in children.
According to a report from Aviva’s marketing director, Michaela Jandová, this supplementary cover is chosen by over 90% of customers.
Investment-based life insurance in the form of the Personal Life Plan, selected by the public as the Most Popular Financial Product of the Year, is one of the most flexible insurance products in the Czech market. The reason for its popularity is very much its variability, in other words the potential to alter its parameters readily and without charge.
Aviva customers are able to adjust the scope of the insurance cover under the Personal Life Plan at any time during the insurance term to match their current life situation without any impact on the amount of premium paid, and are able to choose for themselves the ratio between the premium and the savings component.
A Personal Life Plan may also be very attractive from the aspect of financial yields. Money invested is allocated at the choice of the customer to five investment programmes, thus allowing the customer to improve his/her finances him/herself. In recent years, the most successful of the five programmes offered has been the Strategic Investment Programme, which last year, for example, saw an improvement of over 31%.
For more information, contact:
Michaela Jandová,
Aviva životní pojišťovna [Aviva Life Insurance], as
tel: 221 416 111
www.aviva-pojistovna.cz
Notes for editors:
- Aviva as a company first came into being at the end of the 17th century, more than 300 years ago. Aviva plc is currently the fifth largest insurance group in the world, is one of the three foremost life insurance companies in Europe, and is the largest provider of insurance in Great Britain. The central focus of the company’s activities lies in providing services in the sphere of life and property insurance and fund management. The assets managed by the fund exceed Ł272 billion. The company employs over 56,000 people worldwide and provides services to 30 million customers.
- In the Czech Republic the Aviva plc group has been active since 1997 through its 100%-owned subsidiary Aviva životní pojišťovna [Aviva Life Insurance], a.s. (until 2002 under the name Commercial Union životní pojišťovna, a.s.). This is the first and only British life insurance company in the Czech Republic, and specialises in investment life insurance products (Personal Life Plan, Talisman, Aviva benefit). In 2004 Aviva became the most dynamically growing life insurance company in the Czech market. The company’s head office in Prague was the second branch of the Aviva Group to open in Central and Eastern Europe. Aviva Life Insurance regional offices are located in twenty-one towns in every part of the Czech Republic.
Personal Life Plan
This is Aviva’s top-selling product. The parameters of the insurance may be altered at any time. The ratio between premium and savings is set individually, and from year three payment of premiums may be interrupted without the need to terminate the insurance. The scope of the insurance cover may be adapted to suit the life situation at any time and without charge, and money may be withdrawn from the insurance while the insurance is still running. Extraordinary premiums may be paid into the insurance at any time. The savings component of the insurance is invested as requested by the customer in five selected investment programmes (funds). Four supplementary insurances may be added to the product (for the eventuality of accidental death and lasting consequences of an accident; for the eventuality of lasting full disability; waiver of premium payment in the event of inability to work; and for the eventuality of serious illness). The product meets requirements for tax relief.
Talisman
The premium is 400,000 crowns and the child’s state of health is not checked when the insurance contract is signed. Insurance is often contracted on the birth of an offspring, but may be concluded at any later time before the child has reached fifteen years of age. Payout of saved money takes place when the insured child reaches an agreed age, which may be selected in the 18-25 years range. Contracted premiums for child insurance are mainly paid by the parents (or some other adult), and when the insurance term has elapsed the child will receive the savings component of the insurance as a payout. With Talisman one may conclude unique supplementary insurance for serious illnesses and serious fractures in children. This supplementary insurance covers a total of sixteen serious illnesses (for example, meningitis, encephalitis, diabetes and tetanus). In the event of the death of an insured parent, the insurance company will take over payment of the premium for the insured premium until the end of the insurance term, and will additionally index the premiums at 5% per annum. At the end of the insurance the insured child will thus receive at least as large a sum as he/she would have obtained had the insured parent not died.