Aviva Life Insurance, India's most trusted private life insurance company, announced the launch of Aviva Protection Plus, a Non-Linked Non-Participating Individual Life Insurance Savings Plan. The plan is designed not only to provide financial protection in case of any unforeseen circumstances but also the maturity sum assured on surviving the policy term. This value proposition ensures that the customers enjoy the protection of term insurance and also #TermSeZyada benefits with upto 125% return of premiums on survival till maturity.
Aviva Protection Plus offers attractive features with Maturity Benefit of return of premiums, Enriched Protection and Savings Booster options; and ensures that the family is financial secured with a high death sum assured, payable in case of an unfortunate event. Additionally, the plan comes with a flexibility of single or regular premium paying term. Also, one has an option to choose from multiple premium payment frequency modes and avail benefits like life coverage upto 80 years, direct and indirect tax benefits and rebate on high sum assured.
Mr. Vinit Kapahi, Head of Marketing said, "Term insurance is the most preferred choice of plan amongst people as it offers flexibility and affordability. In our endeavor to provide our customers with a term cover and more in just one plan, we launched Aviva Protection plus. This plan gives you the opportunity to select the financial protection most suited to your profile through a choice of the combinations of the Basic and Additional Death Sum Assured as well as Maturity Sum Assured at the inception of the policy."
He further added "With this launch we wanted to take a stand against discrimination as this product insures males, females, and transgender lives. The thought behind our campaign '#TermSeZyaada,' is to connect with the customers' aspiration of getting more benefits than they expect and solidify the belief that with Aviva Protection Plus, they can ensure their family is financially secure in their absence and that they get the financial boost they may need on survival till maturity."
Some Key Features of Aviva Protection Plus are:
Enriched Protection Option provides enhanced life insurance protection coverage, and a return of Total Premiums Paid# for Basic Death Sum Assured (excluding taxes and extra premiums, if any) in case the insured survives till maturity. The customer can choose to allocate their premiums as follows:
50: 50 - Trop: Term Ratio
20:80 - Trop: Term Ratio
Savings Booster Option provides life insurance coverage throughout the policy term, and a return of the total premiums (excluding taxes and extra premiums, if any) paid on survival till policy maturity. The proportion of the return of premiums at maturity could be 110%, 120%, and 125% (excluding any amount paid as extra premium and taxes) as per the option selected by the policyholder.
Rebate for high Sum Assured
Life Coverage upto 80 years
Multiple Premium payment frequency modes: One Time, Monthly, Quarterly, Half-yearly or Yearly
Tax benefits on payment of premium and on the payout as per the prevailing tax laws, which are subject to change