Aviva

India: Aviva launches a new term plan - Aviva LifeShield Plus

* Plan provides comprehensive protection at a nominal cost
* Rider option of double the Sum Assured incase of an accidental death through Accidental Death Benefit (ADB)
* Immediate payment of the rider sum assured in case of critical illness or permanent total disability, while life cover continues till the policy term, through the Aviva Dread Disease (DD) rider
* Policyholder eligible for a rebate incase the sum assured is Rs. 25 lakh or higher.
* Lower premium for females lives
* Premiums payable on a single premium or a regular premium basis

Aviva Life Insurance, today, announced the launch of Aviva LifeShield Plus, a pure term plan which ensures comprehensive protection at a nominal cost through:

* Payment of Sum Assured to the family incase of the unfortunate death of the policy-holder, with a provision of double the sum assured in case of the accidental death
* Immediate payment of the Rider Sum Assured in the case of critical illness or permanent total disability, while life cover continues till the policy term
* Most competitive rates

Speaking on this occasion Mr T R Ramachandran, CEO and managing director, Aviva Life Insurance India, said: “In India, only a third of the population have any form of life insurance, even though threat to life and property through terrorist activities, are top concerns for Indians, as revealed by the Consumer Attitude towards Savings survey conducted by Aviva. Keeping in mind the current global environment, the need for pure protection products has increased manifold. Through Aviva LifeShield Plus, we have attempted to provide our customers with a simple, low cost term insurance plan to meet the need for protection.”

He added: “We are keen to have a significant presence in all the four need segments that insurance addresses, which include: savings, protection, investment and retirement. We had recently launched Aviva Young Scholar, a best in class child plan in the savings category and with the launch of Aviva Life Shield Plus, we have strengthened our protection portfolio with another market leading plan.”

Key Highlights of Aviva LifeShield Plus
Aviva LifeShield Plus has two riders Aviva Dreaded Disease (DD) and Accidental Death Benefit (ADB). Through Accidental Death Benefit rider the policyholder’s family receives double the sum assured in the event of an accidental death. The policyholder is also entitled to an immediate payment of the sum assured in the case of critical illness or permanent total disability, while life cover continues till the policy term through Aviva Dreaded Disease rider.

* The plan is targeted at the age group of 18-55 years
* The premium for the plan is payable through two modes- single premium or a regular premium and the policy term span from 10-30 years
* The minimum sum assured is Rs 10,00,000 with no maximum limit.
* The minimum annual premium payable on single premium basis is Rs 10,000 and Rs 2,000 on regular premium basis
* Tax benefits will be as per Section 80C, 80D and Section 10(10D) of the Income Tax, 1961.

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