Aviva Life Insurance, today, introduces three new fund options - Index fund, Enhancer fund and Bond fund in its products - PensionPlus, LifeLong, Life Bond 5, SaveGuard, LifeSaver Super and FreedomLife Plan.
- Launches Index fund, Bond fund and Enhancer fund
- New funds available for select products like PensionPlus, LifeLong, Life Bond 5, SaveGuard, LifeSaver Super and FreedomLife Plan
- More options for customers in the new year.
Aviva Life Insurance, today, introduces three new fund options - Index fund, Enhancer fund and Bond fund in its products - PensionPlus, LifeLong, Life Bond 5, SaveGuard, LifeSaver Super and FreedomLife Plan. This is in addition to the existing fund options - Secure, Balanced, Growth and Protector funds available currently for most of Aviva's products.
The Index fund aims to create long term wealth by investing in Nifty 50 companies and has a lower fund management charge as compared to other equity linked funds. The fund can invest in equities in the range of 80-100% and debt and money market securities in the range of 0-20%
The Bond fund, aims to generate a steady income through investment in high quality fixed income securities. This fund is ideal for customers with a low risk appetite and it comprises of 100% debt and money market with no exposure to equities. The Enhancer fund aims to provide long-term capital growth with high equity exposure. The fund will invest in equities in the range of 60-100% and debt and money market in the range of 0-40%.
Speaking on the occasion, Bert Paterson, managing director, Aviva India said: "We will continue to strive to deliver market leading returns for our customers by prudently investing for the long-term. Insurance is a long-term investment and we encourage our customers to continue with their policies till maturity. These additional funds do this as well as offering our customers more choice and control."
Aviva's customers now have an option to choose between seven different funds depending upon their risk appetite. They can also invest in a combination of funds. In India, Aviva was among the first insurance companies to set-up its own in-house fund management team at inception in 2002. So far, we have been outperforming our benchmarks. Aviva's flagship fund, the Balanced fund, posted a return of 25.55% as on December 31, 2007 since inception (June 6, 2002) and the Growth fund posted a return on 38.69% since inception (January 27, 2004).
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For further information, please contact:
Pooja Garg Khan Aviva Life Insurance Phone: 95124 2709082
Notes to editors:
About Aviva India
Aviva Life Insurance is a 74:26 joint venture between Dabur and Aviva. The current paid up capital amounts to Rs 758 crore. Aviva plc is the UK's largest insurance group and the world's oldest insurance group, with a history dating back to 1696. Today, it is the fifth largest insurer worldwide, with 40 million customers and £377 billion of assets under management. Prior to nationalization, Aviva was the biggest foreign insurer operating in the Indian market.
Founded in 1884, Dabur is one of India's oldest and largest groups of companies. The group's consolidated annual sales are in excess of Rs 2,233 crore. The professionally managed company is the country's leading producer of traditional healthcare products.
Aviva pioneered the concept of bancassurance in India, and has leveraged its global expertise in this area successfully in India. Bancassurance has been contributing close to 65% of the total sales of Aviva India. Through its branches and its bancassurance partner locations, Aviva products are available in more than 1,600 towns and cities across India.
Aviva's products have been designed in a manner to provide customers flexibility, transparency and value for money. It is among the first insurance companies to introduce Unit Linked Products in India.
Aviva has a unique need-based sales approach through the "Financial Health Check" (FHC). The FHC is a free service administered by its FPAs (Financial Planning Advisers) for a need-based analysis of the customer's long-term savings and insurance needs. Depending on the life stage and earnings of a prospective customer, the Financial Health Check assesses and recommends the right insurance product for her.