Aviva’s has launched a high value service unit to support advisers in addressing complex needs of high net worth clients, amid rising demand for inheritance tax (IHT) planning.
The insurer has brought together two expert teams, from Aviva and APUK (formerly AIG Life), to create a specialist unit dedicated to helping advisers support high net worth clients. New features include expanded estate planning options and improved IHT-related benefits and advisers will receive end-to-end service across sales, underwriting, pricing and customer service.
A two-tier service model is based on customer’s required cover and complexity, with Premier offering specialised and dedicated assistance for ultra high value cases exceeding £5 million for life insurance, £1 million for critical illness or where monthly premiums exceed £750. A High Value tier handles applications requiring life insurance above £1.5 million, critical illness applications over £750,000 and any protection product with premiums of £500 a month or more.
Ben Whatling, high value strategic accounts manager at Aviva, said: “Amid rising demand for inheritance tax planning and a recognition of the role protection can play in wealth planning, advisers tell us they need faster decisions, clearer routes to expertise and more support on the biggest cases.
“By bringing together the strengths of Aviva and APUK into one enhanced proposition and dedicated High Value team, we’re giving advisers a simpler, more connected experience.”
Managing director of protection at Aviva, Fran Bruce, said “We have listened to advisers and designed this to meet increasingly sophisticated client requirements, strengthening our ability to support wealth and estate planning conversations, while helping advisers deliver tailored protection solutions with confidence.
“We look forward to helping more clients protect their wealth, their families and the legacy they’ve worked hard to build.”
Aviva has closed the former APUK proposition to new business as part of the changes, but will continue to honour existing pipelines inline with agreed timelines.
