Aviva Vie is updating its multi-fund life insurance policy Sélection International.
Aviva Vie is updating its multi-fund life insurance policy Sélection International. There are three major changes: payment thresholds have been lowered, there is an optional new guarantee in case of death, and all financial funds eligible for the policy will now be subject to daily valuation.
Fifteen new funds have also been added to the range of funds available for Sélection International.
Lowering of payment thresholds makes the policy more accessible
The initial payment threshold will be reduced from €15,000 to €3,000. The new threshold for unscheduled payments is €3,000 (previously €7,500) and the threshold for scheduled monthly payments will fall from €600 to €150.
Daily monitoring
Valuation will now take place daily, for the euro fund and for Unit-Linked funds. This means that clients with this new version of Sélection International will be able to monitor changes in the value of the funds for their life insurance policy day by day in their private area of the website www.aviva-vie.fr.
Optional new additional guarantee in case of death
As part of this policy, Aviva Vie is introducing an optional new additional guarantee for all policyholders aged between 12 and 74 years. If when the insured dies the surrender value is less than the total amount of premiums paid, the guarantee pays out an additional sum of a maximum of €300,000. This means that the beneficiary will never receive less than the total amount of premiums paid by the insured under his policy.
The guarantee is simply taken up on joining and no medical formalities apply.
New eligible funds
On 21 February, Aviva announced the expansion of its range of funds with the inclusion of 15 external funds. All of these funds are eligible for Sélection International.
These funds meet the needs and objectives of bullish investors who want to diversify their savings by investing some of their capital in certain specific classes of assets in addition to Aviva Gestion d'Actifs' conventional funds. They cover various geographical zones (Europe, Asia, America, Emerging Countries), different sectors (energy, finance, environment, health, etc) and investment themes such as Socially Responsible Investment.
In line with Aviva's Good Advice approach, the marketing of these funds is based on a segmented approach focussed on clients, their personal situation and their investment horizon, using an online asset allocation tool. This enables the client to be offered a specific asset allocation based on his Investor Profile.
The Sélection International policy allows clients to access the 5 financial options launched by Aviva Vie to reinforce its good advice approach and ensure that clients' investments are managed well in the long term:
- Automatic Readjustment (the asset allocation is kept stable for a specified period, after which the client's personal situation is reviewed and the distribution adjusted accordingly.)
- Scheduled Switch Plan (investments are gradually switched from one fund to unit-linked funds for gradual diversification of savings)
- Progressive Investment Plan (investing progressively in unit-linked products to even out investments)
- The Scheduled Buy-Back Plan allows investments to be retained in Unit-Linked products whilst carrying out scheduled buy-backs. The client no longer has to restrict scheduled buy-backs to euro funds.
- Progressive Security Plan (gradually switching the investments in one or more funds to secure funds).
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Press Contacts:
Aviva Vie
David Chenu
Telephone: 01 76 62 67 92
E-mail: david_chenu@aviva.fr
HDL Communication
Alexandra Rigaud
Telephone: 01 58 65 20 15
E-mail: arigaud@hdlcom.com
Notes to editors:
About Aviva
Aviva is the top life and pensions insurer in Europe and occupies a strong position in other markets throughout the world. Aviva is involved in three main areas, life assurance and long-term savings, fund management and general insurance. As at 31 December 2006, Aviva achieved a turnover of €61.9 billion and its assets under management amounted to €543 billion, making it the 5th largest insurer worldwide based on gross premiums.
With more than 150 years' experience in France, Aviva is among the top ten players in the insurance market. Aviva France is distinguished by a balanced multidistribution model which has proved itself: 875 general agents, 1,800 agency staff, 400 life advisers, more than 1,000 brokers, partners (Union Financière de France and Médéric). Aviva France's partners also include AFER, the leading association of savers in France, and the Crédit du Nord Group. Specialising in unit-linked products, Aviva is well-known for the performance of its long-term funds and its strong commitment to its customers through its Good advice approach. Aviva has more than 3,200 employees. As at 31 December 2006, Aviva France recorded a consolidated turnover of €6.4 billion, a consolidated operating profit of €689 million (based on intrinsic value - EEV/IFRS norms) and managed assets worth €72.9 billion.