Aviva is lowering the minimum threshold for taking out its Sélection International life insurance policy.
Aviva is lowering the minimum threshold for taking out its Sélection International life insurance policy. It is being reduced from €3,000 to €50. Launched in the branch network on 1 June, this range is exclusively designed for holders of "general insurance" policies with Aviva for their business or farm. This policy is particularly suited to managers considering passing on their company or business in the medium term.
Aviva Assurances currently insures almost 30,000 businesses or farms (comprehensive business insurance, comprehensive industrial insurance, car fleets, public liability, etc).
For its customers who are concerned about passing on their assets eventually, Aviva Vie offers an asset analysis and the Sélection International life insurance policy with an initial payment of just €50 (compared to €3,000 previously).
Scheduled payments can be set up with a minimum of €150 per month.
The minimum threshold for unscheduled payments, which can be made at any time, has been reduced from €3,000 to €1,500.
Sélection International: policy updated in March 2008
Sélection International is a multi-fund life insurance policy. Since March 2008, 15 new funds have been added to the range of funds available, which are now valued daily. An optional new additional guarantee in case of death is also available:
Optional new additional guarantee in case of death:
Under the Sélection International 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 up to €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 out on joining and no medical formalities apply.
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 aviva-vie.fr.
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.
The marketing of these funds is based on a segmented approach focussed on clients' requirements, their personal situation and their investment horizon, using an online asset allocation tool. The Sélection International policy allows clients to access the five 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 Assurances
Fanny Garel
Telephone: 01 76 62 79 67
E-mail: fanny_garel@aviva.fr
HDL Communication for Aviva Assurances
Nicolas Faget
Telephone: 01 58 65 20 17
E-mail: nfaget@hdlcom.com
Notes to editors:
About Aviva
Aviva is the leading provider of life assurance and pensions in Europe and has substantial businesses in other markets around the world, making the company the fifth largest insurer in the world on the basis of gross premiums as of 31 December 2006. Aviva has three main business areas: life insurance and long-term savings, asset management and insurance, with a total turnover of €56.7 billion and €499 billion in assets under management as of 31 December 2007.
With more than 150 years of experience in France, Aviva ranks among the top ten players in the insurance market. Aviva France operates a balanced, solid and profitable multi-distribution model: 875 general agents, 1,800 branch staff, 400 life assurance advisers, more than 1,000 brokers and numerous partners (Union Financière de France and Médéric).
Aviva France also works with partners such as AFER, the largest savings association in France, and the Crédit du Nord group. A specialist in unit-linked products, Aviva is renowned for the performance of its long-term funds and strong commitment to customers through its "Good advice" approach. Aviva employs more than 3,300 employees.
As of 31 December 2007, Aviva France reported a consolidated turnover of €6.5 billion, a net profit based on IFRS accounting standards of €338 million (embedded value - EEV / IFRS standards) and was managing €74.2 billion worth of assets.