Aviva Life Insurance launches i-Shield, Tata AIA offers term plan
Aviva Life Insurance has launched Aviva i-Shield, an online term plan. The policy provides life cover with a provision of return of 110% of paid premium in case the insured survives the policy period. The company currently offers a term plan — Aviva i-Life — and a health plan — Aviva Health Plus — as part of its online portfolio. One can opt for the policy beginning from 18 to 55 years. The policy term is for 10 to 25 years and the premium payment term is equal to the policy term. One can opt for yearly, half yearly and monthly premium payment schedule. The sum assured is between R15 lakh to R5 crore. The premiums paid would be eligible for tax benefits as per the prevailing tax laws.
Tata AIA launches online term plan
Tata AIA Life Insurance Company has launched an online term insurance plan iRaksha Supreme. The policy terms range between 10 and 40 years and the policy can be purchased even up to the age of 70. The plan offers preferential rates for non-smoking customers, and women customers can avail of better premium rates. The plan offers a minimum cover of R50 lakh. The customers also have the option of paying for it by regular, limited or single pay depending on their convenience. Premiums paid under this plan are eligible for tax benefits under Section 80C and 10 (10D) of the Income Tax Act, 1961.
Bajaj Allianz app for motor insurance
To address the growing need of customers to access information on financial services on smartphones, Bajaj Allianz General Insurance has launched an Android app called ‘Eezee Tab’. By using the app, a policyholder can issue or renew motor insurance policies as well as register claims. Moreover, one can pay through credit/debit card that the app accepts. Once the card is accepted, premium gets debited from the cardholder’s account and the policy is issued instantly.
Birla Sun launches Vision LifeIncome
Birla Sun Life Insurance has launched a participating plan called Vision LifeIncome’ which comprises regular guaranteed payouts, long-term savings and life insurance benefits. Thus, the product offers a three-way solution for customer’s financial needs. The plan comes with guaranteed regular income for life post-premium paying term. There is premium discount on high sum assured and one can customise the plan by adding five riders. One can even avail loan against the policy and get tax benefits under Sections 80C, 80D and 10(10D) of the Income Tax Act, 1961.
Royal Sundaram’s online CV insurance
Royal Sundaram Alliance Insurance has launched an online commercial vehicle insurance plan. The policy covers commercial vehicles up to 5 years old and covers losses and damages caused by fire and allied perils, including burglary, theft or breaking, riots, terrorism, strikes and liability to third parties. The policy covers taxies registered anywhere in India and indemnity for third party property damage up to R7.5 lakh.
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