Aviva rolls out new breed of survivor policy  

Aviva USA has introduced a new life insurance product it says could be particularly suited to small businesses. The new product, Survivorship Builder, is an indexed universal life policy that combines protection for more than one person on a single policy, with an available death benefit paid out at both the first and second person’s death. “This is groundbreaking because, traditionally, two individuals needed to buy two products for this degree of coverage,” said Chuck Van Devander, Aviva USA’s senior vice president of distribution services. The West Des Moines-based insurer anticipates that the product and first-to-die rider will be popular with small business partnerships that need succession after the death of an owner, as well as blended families and people looking for versatile products to deal with uncertainty related to current estate tax law. 

Aviva USA has introduced a new life insurance product it says could be particularly suited to small businesses.

The new product, Survivorship Builder, is an indexed universal life policy that combines protection for more than one person on a single policy, with an available death benefit paid out at both the first and second person’s death. “This is groundbreaking because, traditionally, two individuals needed to buy two products for this degree of coverage,” said Chuck Van Devander, Aviva USA’s senior vice president of distribution services.

The West Des Moines-based insurer anticipates that the product and first-to-die rider will be popular with small business partnerships that need succession after the death of an owner, as well as blended families and people looking for versatile products to deal with uncertainty related to current estate tax law.