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.
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