According to estimates from France’s Statistical Institute (INSEE), by 2040, more than a million people will be "dependent". Depending on each individual’s choices, the cost of dependency varies from €1,000 to €3,000 a month.
According to estimates from France's Statistical Institute (INSEE), by 2040, more than a million people will be "dependent"*. Depending on each individual's choices, the cost of dependency varies from €1,000 to €3,000 a month. To provide a specific response to this financing problem, from 17 September 2007, Aviva will be offering a new dependency insurance product, Assurance Dépendance Aviva.
In France today, 800,000 people have lost their autonomy. Due to longer life expectancies, this figure is set to rise very quickly, reaching 1,200,000 dependent people in 2040.
Depending on whether these people choose to continue living in their own homes or move into care accommodation, the cost of dependence can vary from €1,000 to €3000 per month.
In the event of loss of autonomy, France's social security system reimburses the cost of medicines and doctors' fees, but does not cover expenses linked to home care (adapting the home, nursing, home help, etc) or the cost of living in a care home.
Complete protection
Aviva addresses these problems with its dependency insurance, a solution that guarantees people between the ages of 50 and 75 a monthly income, paid for life, in the event of partial or total dependence.
Assurance Dépendance Aviva gives policyholders a monthly income to cover costs resulting from dependence, without eroding their estate or having to depend on their children.
Assurance Dépendance Aviva protects policyholders in the event of partial or total dependence.
Two options are offered to those taking out the policy:
- The "Partial or Total Dependence" option: in the event of partial dependence, the subscriber will receive half of the income offered by the policy; in the event of total dependence, he or she will receive the full income.
- The "Total Dependence" option: in the event of total dependence, the policyholder will receive the full income offered by the policy.
There are five monthly income amounts to choose from: €300, €600, €900, €1,200 or €1,500 a month.
Simple to set up
No medical check-up is needed for those wishing to take out Aviva dependency insurance. Potential policyholders simply need to be between 50 and 75 years of age, and sign a health statement. If it is not possible to sign this statement, a supplementary questionnaire may be used to approve the applicant.
Once policyholders' protection has begun, their cover cannot be cancelled, regardless of any developments in their state of health; they are protected for the remainder of their lives. If, after eight years with the policy, the policyholder is no longer able to keep up the premium payments due to financial difficulties, his or her protection will be maintained, at a lower level.
The "Aviva Présence" service
Assurance Dépendance Aviva policyholders have access to a free telephone helpline, which operates 24/7 and offers practical advice about housing, retirement, tax, health and leisure.
The "Aviva Présence" service also provides advice related to dependency and helps Assurance Dépendance Aviva policyholders obtain the best conditions of comfort in the event of a loss of autonomy: preparing a balance sheet with the help of a social worker, information about different welfare benefits, advice for organising life at home, with administrative procedures, and so on.
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* "Social data - French society" 2006 edition - Michel Duée, Cyril Rebillard.
Press contacts:
Aviva Vie
David Chenu
Telephone: +33 (0)1 7662 6792
E-mail: david_chenu@aviva.fr
HDL Communication
Valérie Dudoit
Telephone: +33 (0)1 5865 2016
E-mail: vdudoit@hdlcom.com
Notes to editors:
About Aviva
Aviva is Europe's leading provider of life insurance and long-term savings products with strong positions in other markets around the world. Based on gross premiums at 31 December 2006, Aviva was the world's fifth-largest insurance group. Aviva's principal business activities are: life insurance and long-term savings, fund management and general insurance. At 31 December 2006, Aviva had turnover of €61.9 billion and €543 billion of assets under management.
With more than 150 years' experience in France, Aviva is one of the top 10 players in the insurance market. Aviva France operates with a balanced multi-distribution model, which has proved hugely successful: 875 general agents, 1,800 branch staff, 400 life insurance advisers, 1,000+ brokers, and its partners (Union Financière de France and Médéric). Aviva France has other major partners such as AFER, the largest savings association in France, and the Crédit du Nord Group. Specialising in unit-linked products, Aviva is recognised for the excellent performance of its long-term funds and solid commitment to its customers through its Good Advice approach. Aviva employs more than 3,200 staff. At 31 December 2006, Aviva France recorded consolidated sales of €6.4 billion, a consolidated operating profit of €689 million (based on the embedded value - EEV/IFRS standards) and managed assets worth €72.9 billion.