The plan also offers the feature of returning at least 100 per cent of the charges paid by a customer during the policy term, at maturity.
Aviva Life Insurance has launched Aviva Fortune Plus, a Unit Linked Insurance Plan, with dual benefits on investment: wealth creation and insurance. The plan offers seven fund options and allows flexibility to the policyholders to adapt the policy basis their needs to provide life insurance cover and enhance wealth with the opportunity to grow one’s savings.
The plan also offers the feature of returning at least 100 per cent of the charges paid by a customer during the policy term, at maturity. With this plan, one could also choose the policy term, premium paying term, the premium amount and design the plan as per their needs to get the maximum benefit.
Additionally, customers can also extend their coverage by 5 to 10 years beyond the original maturity date. In addition, customers get additional protection against Accidental Death, and flexibility of partial withdrawals, free switches, and premium redirections to manage their investments.
Amit Malik, CEO and MD, Aviva Life Insurance says, “The ongoing pandemic has taught us that the only thing certain about life is that it is uncertain. While we cannot predict the future, we can certainly prepare for it. Aviva Fortune Plus is a life insurance plan that makes money multitask, it not only provides life insurance cover but also returns the charges at maturity to further enhance our customers’ wealth.”
He further added “Fortune Plus is a response to investors’ growing affinity towards long-term returns, flexibility, and the benefit of life insurance cover. With this launch, multiple benefits will be offered with one plan, wealth creation and financial security, with added convenience, to help customers build a sound corpus for meeting all their financial goals.”
Some key features of the plan include;
- Return of Charges (Premium Allocation; Mortality for base policy life cover and Policy Administration Charges; excluding fund management charges, charges for riders and taxes): At maturity, customers get back at least 100 per cent of these charges which get deducted during the policy term.
- Opt for Additional Protection (on payment of additional risk charges) with;
- a) Accidental Death Benefit (Optional Cover)
- b) Waiver of Premium (Optional Cover)
- Extend Life Cover: Extend policy term by 5 or 10 years.
- Multiple Fund Options: One can choose from 7 unit-linked funds as per risk appetite.
- Top-up Premium Option: ‘Top-up’ premium by paying extra towards policy.
- Easy Withdrawal Options: With Partial Withdrawal and Systematic Partial Withdrawal options customers can customize withdrawal as per their needs.