Aviva Life Insurance, India's most trusted private insurance company, has announced the launch of Aviva Nivesh Bima. This is a non-Linked, non-Participating, Individual Savings Life Insurance Plan that provides guaranteed moneyback at every 5th policy year, in addition to a lump sum payout at the maturity. This value proposition ensures that customers enjoy the protection of a life cover while building up a corpus to fulfill their short-term and long-term needs.
Aviva Nivesh Bima offers attractive 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 customers.
Moreover, the Product is designed to attract the Aspiring Value Seekers in the society who're looking to get guaranteed assured returns for their investments. The minimum annualized premium for the policy is as low as INR 25,000 up to a maximum of INR 1,00,00,000 so that the policy may be beneficial to customers with varying budgets and having low to moderate risk appetite.
Mr. Vinit Kapahi, Head, Marketing Function, Aviva Life Insurance said, "During uncertain times, customers increasingly seek life insurance plans with guaranteed gains, especially in the foreseeable future. By aligning our prospects with this future-oriented customer mindset, we have brought Aviva Nivesh Bima which will enable policyholders to fulfill their short- and long-term financial goals."
He further explained, "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."
Some of the key features of the Aviva Nivesh Bima Plan are:
- 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% 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
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