Aviva introduces new Term 2010 Portfolio

Today, Aviva introduces several enhancements to our Term portfolio in response to your valuable feedback. In addition, we've adjusted Term rates to address higher capital costs while maintaining our competitive positioning.

Product improvements include:

• Relaxed Teleapp requirements: You have more flexibility to choose between submitting Teleapp or a paper application, giving you more control over the sales process. Paper applications will be accepted for face amounts of $1 million and above or annual premiums of at least $10,000.
• Extended issue ages for 20-Year and 30-Year Term:
  • 20-Year - Issue ages extended to age 65 for Non Tobacco and 60 for Tobacco.
  • 30-Year - Issue ages extended to age 55 for Non Tobacco and 50 for Tobacco.
• Enhanced term conversion: To enhance an already attractive feature of the Term Portfolio, 2010 Term policyowners will be able to convert 2010 Term policies to Indexed Survivor Universal Life if:
• There is another Aviva term policyholder eligible for term conversion, or
• A second individual without an eligible term policy undergoes full underwriting

Rate Changes

We have adjusted Term premium rates, due primarily to higher capital costs, while maintaining current competitive positioning. Term rates increased an average of 2% to 3% on Annual Renewal, 10-Year and 20-Year Term.  Premiums for 30-Year Term remain unchanged.

Transition Rules

In most states, applications had to be signed on or before January 24 to be eligible for the previous Term products.  Those applications must be received in the Home Office by February 5, 2010, AND policies issued by March 31,2010, to receive the previous Term products.

ATTENTION producers doing business in Louisiana: Louisiana has recently approved the new Term portfolio.  Customers buying Term policies in Louisiana will be eligible for the previous rates under the following transition schedule:

• The application is signed on or before February 11, 2010. This must be the full Part A application; trial applications cannot be used to meet this deadline.
• The application is received in the Home Office on or before February 25, 2010.
• The policy is issued on or before April 15, 2010.

The new Term products have not been approved yet in New York and Washington

In all states, backdating to save age will be allowed within six months of the issue date; however, the application signed date will determine which set of rates are applied.