Hi,
I have an existing life insurance policy with Aviva. I was reading through the small print recently and saw this paragraph:
"Can the policy be cancelled or amended by the insurer?
...
We may alter the policy or issue another in its place if:
-You change occupation or move abroad,
-it becomes impossible or impractical for us to carry out the policy conditions because of a change in law or other circumstances beyond our control,
-there are any changes in:
*The tax treatment of Aviva life and pensions UK limited
*Other legislation, or
*Revenue practice, or
-it becomes impossible or impractical for us to administer the policy"
The policy is to last for over 20 more years. Does anyone know if this is fairly standard wording for life insurance policies or should I be concerned that when I get to my early 50's Aviva could just cancel the policy?
Thanks
I have an existing life insurance policy with Aviva. I was reading through the small print recently and saw this paragraph:
"Can the policy be cancelled or amended by the insurer?
...
We may alter the policy or issue another in its place if:
-You change occupation or move abroad,
-it becomes impossible or impractical for us to carry out the policy conditions because of a change in law or other circumstances beyond our control,
-there are any changes in:
*The tax treatment of Aviva life and pensions UK limited
*Other legislation, or
*Revenue practice, or
-it becomes impossible or impractical for us to administer the policy"
The policy is to last for over 20 more years. Does anyone know if this is fairly standard wording for life insurance policies or should I be concerned that when I get to my early 50's Aviva could just cancel the policy?
Thanks