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Aviva offers free life cover for new parents

Aviva Life is offering new parents £10,000 worth of free life cover.

Each parent who registers before their baby is six months old will receive £10,000 worth of life cover until the child’s first birthday.

The move comes after research by Aviva Life found that 56 per cent of parents in the UK would leave their children with little or no financial protection in the event of death.

Almost 40 per cent of parents surveyed had no life cover, with a further 17 per cent having only enough life cover to repay their mortgage.

Aviva Life head of protection Louise Colley says: “the aim is to encourage all families to consider their financial protection needs.

“Life insurance is not just something you put in place to protect your mortgage, but something you should arrange to provide financial security for your children. The birth of a new baby is an ideal time to begin thinking about family life insurance needs.”

The product will be available through IFAs, and some exclusions may apply on certain parents.

Colley says: “This offer can be arranged through advisers, providing a real opportunity for advisers to create a dialogue with new and existing customers about family protection.”

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Neil Jones is technical support manager with Canada Life’s ican Technical Services Team. Canada Life offers a range of wealth management solutions, including retirement income planning, estate planning and investment solutions from a choice of jurisdictions, including the UK, Isle of Man and Republic of Ireland. The residential nil-rate band (RNRB) was first announced in […]

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