Key features of Life Insurance

Life Insurance
provided by Aviva Santander UK plc sells
Aviva Life Insurance

Life Insurance
provided by Aviva Santander UK plc sells
Aviva Life Insurance
Insurance – Key Features

Life Insurance
Life Insurance is provided by Aviva and brought to you in association
with Santander, who sell Aviva life insurance products which include
the Life Insurance policy. Any references to ‘we’, ‘us’ or ‘our’ refer to
Aviva unless stated otherwise.
You can use this policy to cover up to two people – usually yourself
and your partner, spouse or civil partner.
What to do next
Please ensure you read the key features document for further
information. If you’re not sure whether this product is suitable for
you, your Santander adviser will be happy to help you with
any questions.

Once you’ve taken out your policy, we will send you a policy
schedule which shows what is included and who is covered.

Cover to suit your needs

You can choose from three types of Life Insurance:

Level cover Mortgage decreasing cover Family decreasing cover

This cover can be used to help pay off an
interest only mortgage. It can also be used
to protect your family.
The cash lump sum we’ll pay stays the
same throughout your policy term.
This cover can be used to help pay off a
repayment mortgage.
The cash lump sum we’ll pay decreases each
month broadly in line with the
amount outstanding on a capital and
interest mortgage.
It reduces by a fixed monthly interest rate.
This cover can be used to protect your
family by providing a cash lump sum that
could be used to meet future expenditure.
The cash lump sum we’ll pay decreases
each year.
It reduces by a fixed amount based on your
policy term.

The cash lump sum can be used to help protect your family and/or
your mortgage:

n If you want to protect your family, the cash lump sum we pay can
be used to help your loved ones maintain their lifestyle.

n If you want to protect your mortgage, the cash lump sum can be
used to help pay off some, or all, of your outstanding mortgage.
If this is how you want to use your policy, please make sure
you read the extra information in the mortgage cover section
later in this document.

02
Key features
The Financial Conduct Authority is a financial services regulator.
It requires us, Aviva, to give you this important information to
help you to decide whether our Life Insurance is right for you. You
should read this document carefully so that you understand what
you are buying, and then keep it safe for future reference.
Risks
n If you don’t pay your premiums, your policy and your cover will
end 30 days after your last premium was due.
n If your policy ends because you haven’t paid your premiums, you
won’t get any money back.

Its aims
n To pay out a cash lump sum if you die before your policy ends; or
n To pay out a cash lump sum if you’re diagnosed with a terminal
illness before the last 12 months of your policy, and you’re not
expected to live more than 12 months.
n If you don’t give us all the information we’ve asked for, or if you
give us incorrect information on your application, we may not be
able to pay out when you make a claim and your cover may
be cancelled.
n If you decide to end your policy, you won’t get any money back
as the policy has no cash-in value.

Your commitment
n To answer the questions on your application correctly to the best
of your knowledge.

n To pay us regular premiums for a set number of years,

or until you die or are diagnosed with a terminal illness,
if earlier.

n To tell us if any of the information you give us changes in the

time between you completing your application and when we
confirm that your cover will start.

03
Insurance – Key Features
Questions and answers
What is Life Insurance?
n It’s an insurance policy which pays out a cash lump sum if:
– you die during the policy term; or
– you’re diagnosed with a terminal illness before the last
12 months of your policy, and you’re not expected to live for
more than 12 months.
Who can take out a policy?
n You have to be aged between 18 and 89 to start the policy.
n The policy can last between one and 55 years, but it has to stop
before you reach age 91 at the latest. If you choose the waiver of
premium option, the policy will have to end before you reach age
76 at the latest.
What’s included?
n We include life cover for you, and any other person insured on
the policy.
n We include terminal illness benefit for you, and any other person
insured on the policy, if the policy has a term of over 12 months.
04
Protection Promise (underwriting cover)
n We also include up to 90 days’ free life cover from the date
we receive your application to when we make a decision.
n We’ll cover you for up to £1,000,000, across all Aviva applications,
or the amount of life insurance you’ve asked for on your
application, whichever is lower. This means that where two
people have applied for life insurance, each life insured is covered
for the lower of £1,000,000 or the amount being applied for.
n Your underwriting cover ends on the earliest of:
– 90 days from the date we received your application; or
– 10 days after we confirm our decision to accept you; or
– the day we postpone or decline your application.
n Underwriting cover is intended to provide security and protection
against the unexpected. This means it doesn’t provide cover if
your death results from a suicide or any medical condition that
you had when you applied for your policy.
n Your underwriting cover and policy will be invalid if you have
not provided us with complete and accurate information on
your application. It’s also really important to keep us informed
of any changes in your health or medical history prior to your
application being accepted or Aviva providing you with our
decision or starting cover.
n Until we confirm you have Protection Promise (underwriting
cover) it can be altered or withdrawn at any time.
Other benefits that can be included
If we accept your policy on our standard terms, it will automatically
include a range of other features.
Life change benefit
n If your circumstances change, our life change benefit lets
you take out more cover without giving us any extra
underwriting information.
n You can increase your sum insured by up to 100%. The maximum
additional amount you can take out is £200,000 or the original
sum insured, whichever is lower.
n You can use the life change benefit whenever your circumstances
change before you reach age 55, or the additional cover you have
reaches the maximum sum insured, outlined above.
n You can use this benefit for the following life changes:
– Getting married or entering into a civil partnership
– Divorce, dissolution of civil partnership or separation
– Buying your first home
– Moving house
– Improving your home
– Buying a second home
– Having or adopting a child
– Your child/children starting higher education
– Salary increase of 20% or more.
n The new policy we set up with the additional cover for life change
benefit:
– Can be on a level or decreasing cover basis
– Can be on one or both lives, if the original policy was
held jointly
– If the original policy was on a single life basis, this must be for
the same life insured
– Does not have to be the same term as the original policy
– Must end before your 70th birthday
– Will be a life insurance policy
– Will include separation benefit, if held jointly with
another person
– Can include waiver of premium, if included in your
original policy
– Won’t include the life change benefit or the
replacement benefit
– Won’t include indexation, even if this was on your
original policy
– Can’t be taken out if you’re making a claim or are eligible to
make a claim for waiver of premium, terminal illness benefit or
death benefit.
n If you want to use our life change benefit, you will need to do this
within 90 days of your life change event and we’ll need evidence
of what’s changed. For example, in the case of having a child,
we’ll need to see a birth certificate.
n The new policy(s) will be subject to the premium rates
in force at the time of the application for your age, and policy
terms and conditions applicable when you take out
the new policy(s).
Replacement benefit
n If you’ve got a joint policy, the policy will end when one of you
dies, or you claim for terminal illness and we pay out. However,
by using the replacement benefit, the remaining policyholder can
take out a new single policy without any further underwriting.
n You can only use this benefit before you reach age 55 and
within 90 days of the claim being accepted.
n The new policy:
– Can cover you for your original sum insured or up to £50,000,
whichever is lower
– Can be on a level or decreasing basis
– Can include waiver of premium, if included on your
original policy
– Can’t end later than the original policy, but can end earlier
– Won’t include the life change, replacement or
separation benefit
– Won’t include indexation, even if this was on your
original policy
– Can’t be taken out if the remaining life insured is claiming or is
eligible to claim for waiver of premium
or terminal illness benefit.
n The new policy will be subject to the premium rates in force at
the time of the application for your age, and policy terms and
conditions applicable when you take out the new policy.
05
Insurance – Key Features
Separation benefit
n If you’ve got a joint policy, you can use our separation benefit to
divide it into two single policies if you separate.
n For example, if you took out the joint policy to cover your
mortgage, you can split it into two new policies to cover new
mortgages.
n You can only use this benefit before you reach age 55 and within
90 days of your separation.
n The new policies:
– Can be on a level or decreasing cover basis
– Can include indexation, if included on your original policy
– Can include waiver of premium, if included on your
original policy
– Can cover each of you for up to the same amount as the
original policy
– Do not have to be the same term as the original policy
– Must end before your 70th birthday
– Won’t include the life change benefit
– Can’t be taken out if you’re making a claim or are eligible to
make a claim for waiver of premium, terminal illness benefit or
death benefit.
n If you want to use the separation benefit, you’ll need to give us
evidence of the separation and/or the changes to your mortgage.
n The new policies will be subject to the premium rates
in force at the time of the application for your age, and policy
terms and conditions applicable when you take out
the new policies.
What options can I add to my policy?
n We have two other options that you can choose to add on
to your policy. Each additional option you choose will increase
your total premium.
Waiver of premium
n If you choose waiver of premium, we‘ll pay your premiums if you
can’t work because you’re ill or injured. This means you won’t
have to cancel your policy if you can’t afford the premiums, so
you’ll still be covered.
n To be eligible for waiver of premium when you start the policy,
you need to be in gainful employment. This means you’re not a
houseperson or unemployed.
06
n If you have a joint policy, you can choose to add waiver of
premium for one or both lives insured.
n You can only choose waiver of premium if you’re aged between
18 and 54 when you take out your policy. You can take waiver of
premium off your policy at any time, but you can only choose it
when you start your policy.
n If you choose waiver of premium your policy has a
maximum term of 50 years and has to end by the time you reach
age 76.
n When we assess a claim for waiver of premium, we look at
whether you’re unable to work based on your own occupation;
this means your trade, profession or type of work you do for
profit or pay. It is not a specific job with any particular employer,
is irrespective of geographical location and the availability of
work. We will look at whether you are unable to perform the
duties of this occupation.
n If you are unemployed or are a houseperson when you make a
claim, we assess whether you’re unable to perform certain work
tasks, (e.g. walking, lifting or bending) or suffering from one of
the serious conditions we cover. For more information please see
your policy terms and conditions.
n We’ll start paying your premiums when you have been unable to
work, or, if you’re unemployed or a houseperson, you have been
unable to perform two work tasks or suffered from the serious
condition, for three consecutive months. This is known as the
deferred period.
n We’ll finish paying a waiver of premium claim when one of the
following happens:
– Your policy ends
– You are physically able to go back to your occupation or you
begin a different occupation
– You are able to perform the tasks again or recover from the
serious condition
– We pay out a cash lump sum because you die, or you’ve been
diagnosed with a terminal illness.
Indexation
n If your policy gives you level or family decreasing cover, you can
choose to automatically increase the cash lump sum we’ll pay so
that the amount you receive if a claim is made isn’t reduced by
the effects of inflation.
n You can only choose to include indexation when you take out
your policy.
n If you choose the indexation option, the maximum
amount of cover you can have when you start your policy is
£2,500,000. This includes other Aviva Life Insurance policies
with indexation.
n Level cover: The cash lump sum we’ll pay out will increase each
year in line with the increases in the Retail Prices Index to a
maximum of 10%. Your premium will increase based on a rate of
1.4 times the percentage increase in the Retail Prices Index. The
premium will not increase by more than 14%. We’ll write to you to
let you know what your new premiums will be.
If you’re not happy with the increased premium, you don’t have
to take up the increased cover. Instead, you can choose to keep
your cover, and your premiums, at the same level for that year.
This means that you can take an annual indexation holiday and
indexation will be reinstated in the next annual review letter that
we issue. Alternatively, you can choose to completely remove
indexation from your policy. However, please remember that you
will not then be able to add it back.
When will the policy pay out?
n If you die before the policy ends; or
n If you’ve got 12 months or more left on your policy and you’re
diagnosed with a terminal illness, with less than 12 months to live.
We only pay out once, so if you make a claim for terminal illness or
death, your policy will end.
When will the policy not pay out?
n We won’t pay out if:
– You don’t provide any documents or evidence to support
your claim
– You haven’t paid your premiums
– You gave us incorrect or incomplete information on your
application, if this affects the cover we provide
– You die outside of the policy term.
n We won’t pay a terminal illness claim if:

n Family decreasing cover: Although you have selected for your
amount of cover to decrease over the term of your policy, by
including the indexation option, you are able to reduce the
effects of inflation on the cash lump sum that we will pay. This
is possible because if you make a claim, the amount that you
will receive will be increased in line with the rise in the Retail
Prices Index from the start of the policy, to the policy anniversary
before you made a claim. Your premiums will stay the same
throughout your policy. Indexation cannot be removed from
family decreasing cover.
Can I make changes to my policy?
n Your policy offers some flexibility, so this means that
you can change:
– how long you want your cover to last
– You’re diagnosed with a terminal illness in the last 12 months of
your policy and/or you’re expected to live for more than a year.
n We won’t pay a waiver of premium claim if:
– We don’t cover the reason why you’re unable to work
– You don’t meet our definition of incapacity
– You’re unable to work because of alcohol or drug misuse,
criminal acts or self-inflicted injury
– You’re living outside the European Union, Andorra,
The Channel Islands, The Faroe Islands, Gibraltar, The Isle of
Man, Liechtenstein, Norway, Monaco, San Marino, Switzerland,
Vatican City, USA, Canada, Australia or
New Zealand, for more than 13 consecutive weeks in any 12
months.

– the amount, and type, of cover you’ve got

– the options you want to include.

n Depending on the type of change you make, we may change or

replace your original policy, or you may have to take out a
new policy. We may also need you to give us some medical
information.

n You should review your cover to ensure that it remains adequate

over time.

07
Insurance – Key Features
What will my premiums be?
n Your illustration gives you an idea of how much you’ll need to
pay for the amount of life cover you’ve chosen. This amount may
change when we’ve made our final decision on your application.
n Your premiums are based on the cover you choose and your
personal circumstances.
n The options you choose will also affect how much you pay.
n You pay your premiums monthly by Direct Debit.
Guaranteed premiums
n Your premiums are guaranteed to stay the same unless your
policy gives you level cover and you choose indexation. In this
case, your premiums may increase each year. We’ll write to you to
let you know what your new premiums will be.
What about tax?
n The cash lump sum we pay out on death or terminal illness is
currently free from income and capital gains tax.
n It may be subject to inheritance tax, unless you put your policy
in a suitable trust. If you need more information on trusts, please
ask your Santander adviser for further details.
n Tax rules may change in the future.
Can I change my mind?
n You can change your mind within 30 days from the later of:
– The date you sign our declaration
– The day you receive your policy schedule.
n If you decide you don’t want the policy, we’ll give you your
money back, if you change your mind within 30 days.
n You’ll be sent a cancellation notice which will include a phone
number that you can call and an address you can send it to if
you change your mind about your policy. Alternatively, you can
contact us at the Aviva address given overleaf.
n Your policy will continue if we don’t receive your cancellation
notice within 30 days.
n If you cancel your policy after 30 days you won’t get any
premiums back.
08
Mortgage cover
n If you’re using your policy to cover your mortgage and you have
taken decreasing cover, it will automatically include:
Repayment guarantee
n We guarantee that the cash lump sum we pay will pay off the
outstanding mortgage amount covered by the policy when you
die or make a claim on diagnosis of a terminal illness, if all of the
following apply:
– The yearly mortgage interest rate at the time the policy is
taken out is under 10%.
– The difference between the life cover amount and the
outstanding mortgage is due solely to a higher rate of interest
being charged on the mortgage than the interest rate used in
our calculations.
– The amount of cover at the start of the policy is at least the
size of the mortgage (or the part of the mortgage the
policy covers).
– This policy does not end before your mortgage.
This is called the repayment guarantee.
Protection Promise (house purchase cover)
n We’ll automatically give you free life insurance cover between
when you exchange contracts and when your house purchase is
completed. (In Scotland we will provide the free cover from when
missives are completed for the property until the date of entry.)
n Your cover will begin once you’ve been accepted and have given
us a start date (the date of completion), provided that you have
exchanged contracts.
n On completion of the purchase, your house purchase cover will end
and your policy should start (or in Scotland, the date of entry).
n House purchase cover ends on the earlier of:
– 90 days from the date it started
– Completion
– The start date of the policy.
n We’ll cover you for up to £1,000,000, the amount of life insurance
you’ve asked for on your application or the purchase price of the
house as confirmed when contracts are exchanged, whichever is
lower.
n Until we confirm you have Protection Promise (house purchase
cover) it can be altered or withdrawn at any time.
How to contact us
To speak to someone about your policy If your complaint is about how your policy was sold, then contact
Your first point of contact will be your Santander adviser. However, Santander:
if you want to get in touch with us you can call, email or write: 0800 171 2171
0800 141 3430 Monday to Saturday 8am to 8pm and
Monday to Friday 8.30am to 5.30pm Sunday 8am to 6pm.
and Saturday 8.30am to 4pm.
Or from outside the UK on:
Outside of these hours, you can use the same
number and leave us a message. +44 1908 375039
We monitor calls to improve our service.
Text relay:
santander@aviva.co.uk 18001 0800 171 2171

Aviva Alternatively you can contact Santander online

PO Box 520 through the Complaints section of their website:
Norwich NR1 3WG
www.santander.co.uk

To make a claim or via secure messaging if you have online banking.

Call our Life Claims Department on:
Or write to Santander at:
0800 015 1142 Complaints
Santander UK plc
Alternatively, we can be contacted on: PO Box 1125
Bradford BD1 9PG
01904 723520
If you’re not satisfied with the response from Santander or
Aviva, you may be able to take your complaint to the Financial
Outside of the UK, the number would be:
Ombudsman Service.
+44 1904 723520 The Financial Ombudsman Service can look at most complaints and
is free to use. You do not have to accept their decision and will still
have the right to take legal action. Their contact details are:
To make a complaint
The Financial Ombudsman Service
If your complaint is about a claim, the service Exchange Tower
or administration of your policy, you can contact us at: London E14 9SR

0800 068 6800 0800 023 4567 or 0300 123 9123

Or from outside the UK on:

complaint.info@financial-ombudsman.org.uk
+44 1603 603 993
www.financial-ombudsman.org.uk
Alternatively you can email or write:

santander@aviva.co.uk

Aviva
Customer Relations
PO Box 3182
Norwich NR1 3XE

09
Insurance – Key Features

Other important information

Terms and conditions Client classification
This key features document only gives a summary of Aviva’s Life The Financial Conduct Authority has defined three categories of
Insurance. You should also read the policy terms and conditions. customer. You’ve been classed as a retail client, which means that
You can get a copy from your adviser or we can send you one. you’ll be provided with the highest level of protection provided by the
Financial Conduct Authority rules and guidance.
Law
The law of England will apply in legal disputes and your contract will Compensation
be written in English. We’ll always write and speak to you in English. Financial Services Compensation Scheme (FSCS)
We’re regulated by the Financial Conduct Authority: The policy is covered by the FSCS. You may be entitled to
compensation from the scheme if Aviva becomes insolvent and we
The Financial Conduct Authority
can’t meet our obligations under this policy. The scheme may cover
25 The North Colonnade
you for 100% of the total amount of your claim. This depends on the
Canary Wharf
type of business and the circumstances of the claim.
London
E14 5HS You can get more details directly from the FSCS online at
www.fscs.org.uk or by contacting them at:
We’re also regulated by the Prudential Regulation Authority:
Financial Services Compensation Scheme
The Prudential Regulation Authority 10th Floor, Beaufort House
20 Moorgate 15 St Botolph Street
London London EC3A 7QU
EC2R 6DA
0800 678 1100 or 0207 741 4100
Potential conflicts of interest
0207 741 4101
There may be times when Aviva plc group companies or our
appointed officers have some form of interest in the business
being transacted.

If this happens or we become aware that our interests, or those of

our officers, conflict with your interests, we’ll take all reasonable
steps to manage that conflict of interest. We’ll do this in a way that
treats all customers fairly and in line with proper standards
of business.

10
 Braille, large font, audio material
You can order our literature in Braille, large font or audio. Just call 0800 068 6800 or email helpdesk@aviva.co.uk and tell us:
n the format you want

n your name and address

n the name or code of the document. The code is usually at the bottom of the page on the back of most documents

The Customer Call Centre is open Monday to Friday 8.30am to 5.30pm, and Saturday from 8.30am to 2pm.

Santander Life Insurance, Life & Critical Illness Insurance, Income Protection Insurance and Over 50’s Life Assurance policies are administered and underwritten by Aviva Life & Pensions UK Limited. Registered
in England No 3253947. Wellington Row, York, YO90 1WR. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Firm
Reference Number 185896. Member of the Association of British Insurers. www.aviva.co.uk
Santander UK plc. Registered Office: 2 Triton Square, Regent’s Place, London, NW1 3AN, United Kingdom. Registered Number 2294747. Registered in England and Wales. www.santander.co.uk. Telephone
RINS 0525 MAY 2016 / SD01001 05/2016

0800 389 7000. Calls may be recorded or monitored. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Our Financial
Services Register number is 106054. You can check this on the Financial Services Register by visiting the FCA’s website www.fca.org.uk/register or by contacting the FCA on 0800 111 6768. Santander and the
flame logo are registered trademarks.

This item can be recycled.