Investment-linked policies, or ILP, are policies that features both investment and protection components. It’s often marketed as a plan that is flexible and is tailored for your needs. It also has high returns, in exchange for high risks. In this article, fundMyLife examines the features of Aviva’s only ILP, MyLifeInvest, and reviews it.
What is it?
Aviva MyLifeInvest is a regular premium ILP. It provides a lifetime coverage for death and terminal illness. It also provides coverage for total and permanent disability (TPD) until age of 70.
Noteable features #1 Benefits when life-stage events happen
When you reach a new life-stage, you can raise your sum assured without a medical checkup. According to Aviva, it means a change in marital status, childbirth/new addition to the family, i.e. adoption, and approval of mortgage. Bear in mind you’ll have to apply within 3 months of the mortgage approval. On top of that,