Aviva Life Insurance has announced the launch of Aviva Nivesh Bima, a non-Linked, non-Participating, Individual Savings Life Insurance Plan that will provide guaranteed moneyback at maturity. The guaranteed moneyback option offered will be provided at every 5th policy year, in addition to a lump sum payout at maturity. The company claims that the value proposition ensures that customers enjoy the protection of a life cover while building up a corpus to fulfil their short-term and long-term needs.
Aviva Nivesh Bima offers features such as fixed benefit pay-out on maturity or death, limited premium paying term, and an option to enhance the coverage through an add-on Accidental Death Benefit. The plan also offers tax benefits to policyholders.
Moreover, the insurance company says the product is designed to attract aspiring value seekers in society who are looking to get guaranteed assured returns for their investments. The minimum annualized premium for the policy is as low as Rs 25,000 up to a maximum of Rs 1,00,00,000 so that the policy may be beneficial to policyholders with varying budgets and having low to moderate risk appetite.
Vinit Kapahi, Head, Marketing Function, Aviva Life Insurance says, “During uncertain times, people increasingly seek life insurance plans with guaranteed gains, especially in the foreseeable future. By aligning our prospects with this future-oriented customer mindset, the Aviva Nivesh Bima will enable policyholders to fulfil their short- and long-term financial goals.”
He further adds, “The thought behind this campaign is encapsulated in ‘Chotey dreams se Bade Goals Tak’ as this sentiment speaks to our customers’ aspirations for getting a financial boost they may need at any time, whether immediately or in the long-term future, thus safeguarding their loved ones against uncertainties in life.”
Key features of the Aviva Nivesh Bima Plan;
- Choice of premium payment term and policy terms
- Annual, Semi-Annual and Monthly modes for paying premiums
- Option to add additional protection through Add on Accidental Benefit cover
- Death cover of 11 times Annualized premium
- Guaranteed Survival Benefit of 10 per cent of Maturity Sum Assured every 5th policy year except at maturity
- Guaranteed Maturity Benefit after deducting survival benefits already paid
- Tax-free payouts, as per prevailing tax laws