Leading private insurer Aviva Life Insurance today announced the launch of Aviva Investment Insurance – a non-linked, non-participating, individual savings life insurance plan. The plan offers guaranteed moneyback every fifth policy year and a lump sum payout on maturity.
The value proposition ensures that customers take advantage of the protection of life insurance while building a corpus to meet their short term and long term needs. Aviva investment insurance plan offers features like fixed benefit payout on maturity or death, limited premium paying term and option to increase coverage through an add-on accidental death benefit. It also provides tax benefits to the customers.
Aviva Investment Insurance Plan: Key Features
- Choice of premium paying term and policy terms
- Annual, Half Yearly and Monthly Modes for Premium Payment
- Option to add additional protection through add-on incidental benefit cover
- Death cover 11 times the annual premium
- Guaranteed Survival Benefit of 10% of Maturity Sum Assured every fifth policy year excluding maturity
- Guaranteed Maturity Benefit after deducting the Survival Benefits already paid
- Tax-free payment as per existing tax laws
The product is designed to attract the willing value seekers in the society who want to get guaranteed assured returns for their investments. The minimum annual premium for the policy ranges from Rs 25,000 to a maximum of Rs 1,00,00,000, making the policy beneficial for customers with varying budgets and low to moderate risk.
“During uncertain times, customers increasingly look for life insurance plans with guaranteed benefits, especially in the near future. By aligning our prospects with this future-oriented customer mindset, we have come up with Aviva Investment Insurance that will enable policyholders to meet their short and long term financial goals,” said Mr. Vineet Kapahi, Head, Marketing Function, Aviva Life Insurance he said .