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AVIVA INDIA LAUNCHES AVIVA NEW WEALTH BUILDER PLAN!

AVIVA INDIA LAUNCHES AVIVA NEW WEALTH BUILDER PLAN!

A customer needs focused Guaranteed Life Insurance Plan with the twin benefits of Protection and Investment

New Delhi, 19th November’20: Aviva Life Insurance, India’s most trusted private insurance company, today announced the launch of Aviva New Wealth Builder, an individual Non-Linked, Non-Participating Savings Life Insurance Plan. Aviva New Wealth Builder (ANWB) offers the twin benefits of protection and investment and also gives an extra edge as a Guaranteed Plan. This plan addresses the need of the hour for customers today, including more options of premium payment terms basis their convenience, higher entry age and guaranteed returns which are very relevant and necessary especially during these tumultuous times.

Ms. Anjali Malhotra Chief Customer, Marketing, Digital and IT Officer, Aviva Life Insurance said At Aviva, we understand that in these unique and uncertain times, people are looking for security, especially since the economy and market have felt a strong impact of the pandemic. In line with our purpose, to be there for our customers, we are offering the New Wealth Builder with a reassurance guarantee built into the plan. Our message to customers is that despite the uncertainty, they must look forward to tomorrow with hope and continue making plans for key life goals with confidence, armed with guaranteed returns behind the certainty of the goal!”

 Anjali further added “Aviva has had a strong presence in endowment plans with guaranteed returns. Understanding the current scenario and customers needs to conserve cash and pay in parts, we are offering the flexibility of payment options that will allow customers to pay smaller premiums in Single, Annual, Semi Annual and Monthly modes.

With the aim to include more people into the secure folds of guaranteed returns, we have increased the entry age to 60 years for Aviva New Wealth Builder. This product allows customers to balance their financial portfolio as lump sum payout at maturity is guaranteed. Another advantage is that the payout received on maturity for regular pay policies is tax-free.

Some key differentiators of Aviva New Wealth Builder are:

  • There is death cover of 11 times Annualized premium for regular pay options and 1.25 for the single pay option.

 

  • The plan also offers option to add additional protection through add on Accidental Benefit cover that would provide an added financial security to the family, in case of a mishap.

 

  • Aviva New Wealth Builder further provides opportunity to fulfill various life stage goals with investment horizons of 12, 14 and 20 years.

 

  • With this, Aviva enables customers to secure their future with this guaranteed plan as it offers more than double the premiums paid at survival till maturity for policy term 20 years.

To know more about the product and its features, please refer to the Annexure 1 or visit: http://www.avivaindia.com

About Aviva Life Insurance:

Aviva Life Insurance Company India Limited is a joint venture between Dabur Invest Corp and Aviva International Holdings Limited, a UK based insurance group, whose association with India goes back to 1834. By choosing Aviva Life Insurance, you benefit from the management experience of one of the world’s oldest insurance groups, with a history dating back to 1696. Today, Aviva Group has 33 million customers in 16 countries (as on 1stJanuary 2019)

Website:www.avivaindia.com

 Annexure 1

 Eligibility Criteria:

Parameter Criterion
Entry Age 6 to 60 years last birthday
Policy Term & Premium Payment Term (in Years)
Policy Term Premium Payment Term
14 1 (Single Premium)
12 6
20 10
Maturity Age last birthday (in years)
Policy Term Minimum Maturity Age Maximum Maturity Age
14 20 74
12 18 72
20 26 80
Minimum Annualized/ Single Premium Single Premium:  Rs. 1,50,000

Annualized Premium 6 Pay : Rs. 75,000

Annualized Premium 10 Pay: Rs. 50,000

Maximum Annualized / Single Premium Rs. 1,00,00,000 (per Life) subject to Board approved underwriting policy
Minimum / Maximum Death Sum Assured

{Death Sum Assured shall be 1.25 times the Single Premium or 11 times the Annualized Premium as applicable}

PPT Minimum Sum Assured (Rs.) Maximum Sum Assured (Rs.)
Single 1,87,500 1,25,00,000
6 years 8,25,000 11,00,00,000
10 years 5,50,000 11,00,00,000

 

Maximum Death Sum Assured per life (Rs.) is subject to Board approved underwriting policy

Minimum / Maximum Maturity Sum Assured
PPT Minimum Sum Assured (Rs.) Maximum Sum Assured (per life) (Rs.)
Single 2,93,250 2,01,79,000
6 years 6,52,725 9,70,74,000
10 years 10,75,500 22,46,90,000

 

 

 

 

 

 

 

 

Maturity Sum Assured will depend on the age of the Life Insured, policy term and premium amount. Please refer to the Maturity Sum Assured table in Appendix 1 for more details.

Maximum Maturity Sum Assured is subject to Board approved underwriting policy

Premium Payment Frequency Single, Yearly, Half-Yearly or Monthly

For monthly mode, only ECS/ Direct Debit is allowed

Add-on Cover Option of Accidental Death Benefit Add-on Cover upto Rs. 30 lacs

 

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