Term Life Insurance | Aviva USA – Life and Annuities

Term Life Insurance

Aviva term life insurance protects your family for a certain period of time or term. If you die within that period of time, your family (the beneficiary) is paid the amount of the policy. We also offer Universal Life and Indexed Universal Life.

  • Minimum protection needed
  • Good for those on a budget
  • Expires after a period of time
  • Supplements employer policies

What it can do for you

As the most budget-friendly type life insurance, an Aviva term life insurance policy can do a lot for not a lot of money.

A matter of life and death

The death part isn't easy to talk about with loved ones. It's even awkward to read about it on a Web site. But here's a thought: when you've taken care of your loved ones in the event of your death, you don't think about it. You can think about getting the most out of life.

Supplements or replaces an employer's policy

The life insurance policy provided by your employer may not be enough for your needs. It may be just enough to cover funeral expenses or equivalent to one year's income. Or you may not be covered if you're self-employed or you lose your job. Aviva term life insurance can add valuable support to the insurance you already have or it can replace it entirely.

When you might need it

Single

You may not be responsible for someone else, but your debts don't necessarily die with you. So it's nice to cover those debts and the expense of a funeral for your closest relatives.

Responsible for others

Term life insurance meets the first responsibility of providing for your loved ones—whether you share expenses with a spouse or you're responsible for dependents such as children or even elderly parents.

On a tight budget

If you're young or just starting a family, you may not yet have the income for permanent life insurance. Aviva has several cost-effective term policies that guarantee level premiums for a number of years.

Have a temporary need

Given your circumstances, you may not have a need for the long-term nature of permanent life insurance. In that case, a term life insurance policy from Aviva may be ideal for you.

All tax related information contained herein is based on our current understanding of federal tax laws as they relate to life insurance or other subject matter discussed. These laws are subject to change in the future. Neither Aviva nor its representatives offer legal or tax advice. You should consult a personal tax advisor on any tax matters. In order to comply with certain U.S. Treasury regulations, please be advised of the following: Unless expressly stated otherwise, any U.S. Federal tax advice contained in these materials is not intended or written to be used, and cannot be used, by any person for the purpose of avoiding any penalties that may be imposed by the Internal Revenue Service. Products issued by and all policy benefits are the responsibility of Aviva Life and Annuity Company, and not that of any other insurer or company.

Term Life Insurance

Term life insurance, for individuals and business owners who need coverage for a specific period of time or have a limited budget.

Compare policies

This is a summary. Terms and conditions may vary by state. For details and to find out what's right for you, contact your local Aviva agent.

Term Life Insurance Traditional Universal Life Insurance
Policy period 10, 20, 30 years or Annual Renewable Term (ART) Lifetime (as long as premiums are current and the policy doesn't lapse)
Minimum face value $50,000 $10,000 -$50,000
Issue age 18-75 0-85
Builds cash value Not applicable Yes
Guaranteed interest rate Not applicable since no cash value is accumulated 2-4%
Premiums Fixed Lifetime adjustable
Riders available Yes Yes + Wellness for Life
Flexibility Convertible to any universal life insurance policy Adjustable coverage, premiums and payouts
Summary Good for low-cost death benefit Good for cash accumulation

All tax related information contained herein is based on our current understanding of federal tax laws as they relate to life insurance or other subject matter discussed. These laws are subject to change in the future. Neither Aviva nor its representatives offer legal or tax advice. You should consult a personal tax advisor on any tax matters. In order to comply with certain U.S. Treasury regulations, please be advised of the following: Unless expressly stated otherwise, any U.S. Federal tax advice contained in these materials is not intended or written to be used, and cannot be used, by any person for the purpose of avoiding any penalties that may be imposed by the Internal Revenue Service. Products issued by and all policy benefits are the responsibility of Aviva Life and Annuity Company, and not that of any other insurer or company.

How term life works for you

Your term

With Aviva term life insurance, you have the choice of getting a policy for a term of 10 years, 20 years or 30 years. This is often called level term insurance because the monthly premium you pay is constant and guaranteed at a specific level. You can also get an Annual Renewable Term in which case the policy expires every year unless you renew for the next year. Under a typical Annual Renewable Term policy, the premium is guaranteed at a specific level in 10-year increments.

Your coverage

The minimum value of your policy can be $50,000. This amount will depend on what you want covered in the event of your death. Some things to consider when thinking about the value of your term policy: mortgage, credit card debt, car and education loans, childcare, college education for dependents and funeral costs. Also be sure to consider the replacement of your income if others depend on it for day-to-day living expenses.

Your beneficiary

The beneficiary is the person or persons who receive the benefits (the value) of the policy upon your death. You will name those persons when you purchase the policy, and you can change or add them as needed.

Your premiums

The amount you pay is determined by several factors: your age, the length of the term, and the amount the policy would pay out (the face value). Your health is also a factor as you will need to take a physical exam.

Why sooner is better

Convert later

With a term life insurance policy from Aviva, you can always convert it to an Aviva universal life policy with all of the benefits of a permanent policy when your needs and budget call for it.

Younger is cheaper

People often postpone purchasing life insurance when they're young. But life insurance is cheaper when you're younger and healthier. Therefore a little planning now can save you a lot of money later.

All tax related information contained herein is based on our current understanding of federal tax laws as they relate to life insurance or other subject matter discussed. These laws are subject to change in the future. Neither Aviva nor its representatives offer legal or tax advice. You should consult a personal tax advisor on any tax matters. In order to comply with certain U.S. Treasury regulations, please be advised of the following: Unless expressly stated otherwise, any U.S. Federal tax advice contained in these materials is not intended or written to be used, and cannot be used, by any person for the purpose of avoiding any penalties that may be imposed by the Internal Revenue Service. Products issued by and all policy benefits are the responsibility of Aviva Life and Annuity Company, and not that of any other insurer or company.

Term life insurance riders*

An Aviva life insurance rider is an addition or amendment to your life insurance policy. They provide different options and benefits that allow you and your Aviva agent to customize your policy to your life.

Additional Insured

Provides death benefit coverage on the lives of up to three family members. This premium is also a fixed amount.

Accidental Death Benefit

Adds coverage should you as the insured die from an accident.

Children's Insurance

Lets you extend a death benefit to your child's life up to age 25 with a fixed premium amount.

Accelerated Death Benefit Rider

Speeds up the time in which benefits are paid should you become terminally ill. A portion of the policy proceeds normally paid at death is paid to you while you are living provided your life expectancy is 12 months or less.

Waiver Premium Rider

The monthly premium specified under the rider is credited to the policy if you become totally disabled for at least 6 months. If you become totally disabled before age 65, a lifetime benefit is payable.

More riders available

Waiver of Premium Plus
Guaranteed Purchase Option Rider

*Riders are subject to state availability, certain limitations, and may require additional charges unless otherwise specified. See terms of the rider for full details.

All tax related information contained herein is based on our current understanding of federal tax laws as they relate to life insurance or other subject matter discussed. These laws are subject to change in the future. Neither Aviva nor its representatives offer legal or tax advice. You should consult a personal tax advisor on any tax matters. In order to comply with certain U.S. Treasury regulations, please be advised of the following: Unless expressly stated otherwise, any U.S. Federal tax advice contained in these materials is not intended or written to be used, and cannot be used, by any person for the purpose of avoiding any penalties that may be imposed by the Internal Revenue Service. Products issued by and all policy benefits are the responsibility of Aviva Life and Annuity Company, and not that of any other insurer or company.

How Ulysses could use term life*

Aviva USA Term Life Insurance Success Story

This is Ulysses and his daughter Kiarra. He also has an 8-year-old son at home. Ulysses has been a single father since his wife passed away two years ago.

Ulysses's situation

No longer a two-income household, the family budget doesn't have a lot of room for extra expenses. And when his wife died, his kids immediately asked him what would happen if something happened to him. He is so busy being a single father, his kids often tease him that he never has a plan, but in this case, he reassured them that he does. Like any father, especially being a single parent, Ulysses is concerned about what happens to his kids if he was to die before they have grown up and established their own independence.

Solution

An Aviva term life insurance policy would give Ulysses the peace of mind he seeks for his kids. The premiums are within the family budget today, and he can plan on converting it to a permanent universal life policy in a few years when he can afford to pay a bit more. That way, he will have started with an affordable policy while he was relatively young. And he can maintain a long-term strategy of converting to a permanent life insurance policy that will guarantee coverage in the future even if he becomes ill and would not qualify for a life insurance policy.

How you could use term life

Ulysses's situation is just one example of how you can use an affordable Aviva term life insurance policy to make sure those you love are cared for, whether you're here or not. A local professional Aviva agent can help you identify ways to make an Aviva term policy work for you.

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*This case study is for illustrative purposes only and is not guaranteed. Aviva does not authorize its agents, employees, or representatives to give legal, tax or accounting advice. The information on this website reflects our understanding of current laws as they relate to insurance products. These laws are subject to change in the future. Please consult your personal advisor for any needed legal, tax or accounting advice.

All tax related information contained herein is based on our current understanding of federal tax laws as they relate to life insurance or other subject matter discussed. These laws are subject to change in the future. Neither Aviva nor its representatives offer legal or tax advice. You should consult a personal tax advisor on any tax matters. In order to comply with certain U.S. Treasury regulations, please be advised of the following: Unless expressly stated otherwise, any U.S. Federal tax advice contained in these materials is not intended or written to be used, and cannot be used, by any person for the purpose of avoiding any penalties that may be imposed by the Internal Revenue Service. Products issued by and all policy benefits are the responsibility of Aviva Life and Annuity Company, and not that of any other insurer or company.

What you can do now

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