· An endowment plan on traditional platform ensuring life cover and guaranteed double payouts
· Facilitates hassle free policy issuance basis self declaration of good health
Aviva Life Insurance, recently, announced the launch of Aviva Wealth Builder, a traditional endowment plan, which guarantees double the premiums paid on maturity. This plan offers the twin benefit of protection and investment. It also provides customer the flexibility to choose the premium payment term (single or yearly) and significantly reduces the issuance time by exempting the health check-up.
Mr. T.R Ramachandran, CEO & MD, Aviva Life Insurance said, “At Aviva, we keep our customers at the heart of our business and design products that address specific customer needs. Our market research unveiled that some of our customers preferred lump sum payouts as opposed to yearly payouts to help them meet specific financial objectives like buying a house, child’s education/marriage, and retirement. Through Aviva Wealth Builder we aim to help our customers achieve this objective and also provide peace of mind to the family by ensuring financial security in case of any eventuality.”
Key benefits of Aviva Wealth Builder plan..!
· Returns double the total premium paid on maturity
· Flexibility to choose the premium payment term
· The payout received on maturity for regular pay policies is tax-free
· No medicals required, subject to Declaration of Good Health (DGH)
Entry Age: Minimum 5 years / Maximum 50 years
Maturity Age: 16 to 67 years
Minimum Premium : Regular Premium: Rs.50,000 per year. + applicable taxes
Single Premium: Rs.1,50,000 + applicable taxes
Single Premium: Rs.1,50,000 + applicable taxes
Maximum Premium : 5-40 years: Rs.5,00,000 + applicable taxes
41-50 years: Rs. 3,00,000 + applicable taxes
41-50 years: Rs. 3,00,000 + applicable taxes
Sum Assured : Regular Premium: 10 x Annual Premium
Single Premium: 1.25 x Single Premium
Single Premium: 1.25 x Single Premium
Premium Paying Frequency - Single or Yearly
Death Benefit: In case of death of insured, the payout to the nominee will be equal to Sum Assured or the Premiums paid (excluding taxes and extra premiums, if any) accumulated at 6% per annum compounding annually, whichever is higher, provided all due premiums till date of death were paid
Tax Benefits : The policy is eligible for tax benefits as defined under section 80C and 10 (10D).
Enquiries:
Media:
Aviva India – Pooja Khan, +919811315510, pooja.khan@avivaindia.com
Notes:
· Aviva Group provides 43 million customers with insurance, savings and investment products.
· Aviva Group is one of UK’s largest insurers and one of Europe’s leading providers of life and general insurance.
· Aviva Group combines strong life insurance, general insurance and asset management businesses under one powerful brand.
· Aviva Group is committed to serving our customers well in order to build a stronger, sustainable business, which makes a positive contribution to society, and for which our people are proud to work.
· Aviva India is a joint venture between Dabur Group and 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 India’s products have been designed to provide customers flexibility, transparency and value for money. We address all lifecycle needs of a customer – savings, protection, investment and retirement.
· Aviva Group is the global Bancassurance leader and in majority of the countries, Bancassurance is the only distribution channel. In India too, we pioneered the concept of Bancassurance.
· In the 2011 FTSE4Good index, Aviva Group is recognized as the top insurance company for corporate responsibility in the world, out of more than 100 other organizations 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
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