Aviva India announced the launch of Family Income Builder, a traditional plan in which one pays for 12 years and gets double of what they have paid every year for the next 12 years, guaranteed.
Aviva Family Income Builder..!
The product also comes with built in waiver of premium benefit which ensures that in case of death during the policy term, no further premiums are required to be paid while the income remains guaranteed between 13th to 24th year.
Aviva Family Income Builder product has been designed basis a customer survey – Consumer Attitudes towards Savings conducted by IPSOS worldwide. The survey highlighted that with low economic confidence about 33 per cent of customers are keen to get a guaranteed return on their investments worldwide. In India too, 56 per cent of customers are not willing to take a risk on their investments and are looking for guaranteed returns. In addition, about 44 % of Indians are not confident about meeting unexpected expenses in the future. Hence there is clearly a market for a product which not only gives guaranteed returns but has the proposition of doubling one’s premium ensuring a regular flow of income.
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| Mr. T.R. Ramachandran |
Mr. T.R. Ramachandran, CEO & MD, Aviva India said, “Aviva’s product philosophy is simplicity and keeping the customer at the heart of our product development process. Recognizing the customer need for guarantee in their investment in the current scenario, we have launched Aviva Family Income Builder, a transparent insurance plan with a simple proposition of doubling one’s premiums and ensuring a regular flow of income. We aim to create value for our customers and deliver on our promise of prosperity and peace of mind.”
Aviva Family Income Builder helps address multiple needs of a customer:
Regular Income on retirement
It is important that one secures their retirement while they are working. With Aviva Family Income Builder one can pay for 12 years and get double of what they have paid for the next 12 years, guaranteed.
For example, if the policyholder is 48 years of age and starts investing Rs. 2 Lacs each year till the age 60, he will start receiving a guaranteed amount of Rs. 4 Lacs each year from age 61 to 72 years. This will ensure a tax free cash flow post retirement.
Securing the future of one’s child
The cost of education is expected to double in the next 12 years. It is important that one’s savings for their child also doubles by that time. Aviva Family Income Builder helps one achieve this objective.
For example, if the child is 3 years old and one starts investing Rs. 1 Lac each year till she is 15, the parent will receive a guaranteed amount of Rs. 2 Lacs each year from her age 16 to 27 years. This can be used to fund her education, extra-curricular activities and even the initial phase of her professional life
Giving one’s parents a secure retirement
This is product is also perfect for a working professional whose parents are nearing their retirement.
For example, if the parents are around 50 years of age, the son can start investing Rs. 50,000 every year for 12 years, so that the parents get a guaranteed tax free income of Rs. 1 lac every year from their age 62 to 74 years.
Enquiries:
Media: Aviva India – Ms. Pooja Khan, +919811315510, pooja.khan@avivaindia.com
About Aviva Group..!
^ Aviva Group provides 43 million customers with insurance, savings and investment products.
^ Aviva Plc group is one of the UK’s largest insurer and one of Europe’s leading providers of life and general insurance.
^ Aviva India is a joint venture between Dabur Group & Aviva Group. Current paid up capital amounts to Rs. 2,004 crore. Dabur Group is the 74 % shareholder while Aviva Group holds 26 %. Aviva Group is a UK based insurance company and one of the world’s oldest insurance Groups, with a history dating back to 1696.
^ Aviva Group is the global bancassurance leader and in majority of the countries, bancassurance is the only distribution channel.
^ In the 2011 FTSE4Goodindex, Aviva Group is recognised as the top insurance company for corporate responsibility in the world, out of more than 100 other organisations in our sector. The Reputation Institute’s 2011 rankings, also place Aviva as the UK’s “most reputable” financial services company.
^ Aviva India is also keen to reach out to the underprivileged that have not had access to insurance so far. Through our association with BASIX (a micro financial institution) and other NGOs, we have been able to cover millions of lives.
^ The Aviva India media centre at www.avivaindia.com/media includes images, company and product information and a news release archive
^ Follow us on twitter: www.twitter.com/avivaindia
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