Aviva Nivesh Bima also offers tax benefits to customers.Leading private insurance companyAviva Life Insurancetoday announced the launch of Aviva Nivesh Bima - which is a non-Linked, non-participating, individual savings life insurance plan.
The scheme provides guaranteed moneyback at every fifth policy year and a lump sum payout at the maturity.Thevalue proposition ensures that customers availthe protection of a life cover while building up a corpus to fulfill their short-term and long-term needs.
The Aviva Nivesh Bima plan offersfeatures 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.
It also offers tax benefits to customers.Aviva Nivesh Bima Plan: Key FeaturesChoice of premium payment term and policy termsAnnual, semi annual and monthly modes for paying premiumsOption to add additional protection through add-on accidental benefit coverDeath cover of 11 times annualized premiumGuaranteed survival benefit of 10 per centof maturity sum assured every fifthpolicy year except at maturityGuaranteed maturity benefit after deducting survival benefits already paidTax-free payouts, as per prevailing tax lawsThe product is designed to attractaspiring value seekers in the society whoseekto get guaranteed assured returns for their investments.
The minimum annualized premium for the policy is as low as Rs25,000 up to a maximum of Rs1,00,00,000 so that the policy may be beneficial to customers with varying budgets and having low to moderate risk appetite.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,'' saidMr.
Vinit Kapahi, Head, Marketing Function, Aviva Life Insurance.