Aviva Life Insurance on Thursday (January 19) announced the launch of Aviva Signature Investment Plan. It is a Unit Linked Non-Participating Individual Life Insurance Plan addressing the needs of Millennial and GenX customers.
In a statement, the insurer said that Signature Millennial comes with an inbuilt premium waiver to create a guaranteed corpus for a dependent parent, spouse, or child, even after the death of the Life Insured. Signature GenX will allow customers to grow their wealth through disciplined monthly savings for up to 60 years and build generational wealth.
Aviva Signature Investment Plan has seven fund options that will provide easy access to money when required and flexibility of multiple premium payment frequencies and policy terms. .
Key Points
- Zero Allocation Charges
- Periodic Milestone Boosters every 3rd year starting at the end of the 6th policy year.
- Two plan options: Signature Millennial and Signature GenX
- Upto 100% of the Mortality & Policy Administration charges at Maturity
- In case of unfortunate death of Life Insured during the Policy Term, all future Premiums as and when due are paid by the company in Signature Millennial Option.
- Seven fund options to choose from to match the customer’s risk profile
- Easy access to money during unexpected needs through partial withdrawals and systematic partial withdrawals
- Staggered investment into equity funds from debt funds through Systematic Transfer Plan
- RetireSafe Strategy for moving the customer’s funds from equity to debt to safeguard the accrued returns.
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“In line with the need of first-time, cautious entrants to the Equity market, we at Aviva recalibrated the product dynamics with changing times and focused on building a product that brings real value to our customers. As a result, our new-age ULIP product –Aviva Signature Investment Plan, is an ideal recipe for creating wealth while guaranteeing your family’s safety from unfavourable circumstances,” said Vinit Kapahi, Head of Marketing.
(Disclaimer: The above content is based on a press release from Aviva Life Insurance and intended for information purposes only. Please read the policy document and consult a financial advisor before buying)