Aviva Life Insurance today announced the launch of a new unit linked, single premium investment come protection plan, designed to provide the maximum benefit of investment returns and tax benefits.
- A unit-linked Single Premium tax efficient plan
- Life cover five times the initial Single Premium
- Choice of three unit linked Funds – Balanced, Growth & Secure
- Pioneers of the unit linked products in India
- Excellent Fund performance
Aviva Life Insurance today announced the launch of a new unit linked, single premium investment cum protection plan, designed to provide the maximum benefit of investment returns and tax benefits.
LifeBond Plus offers the option of investing in any one of the three Unit Linked funds – Balanced, Secure and Growth with the flexibility of allocating the premium in different proportions to these funds. It also gives the flexibility of making lump sum investments through additional single premiums.
Aviva pioneered the concept of unit linked funds in India and all three types of unit linked funds have recorded phenomenal growth since inception. The flagship fund Unit linked Balanced Fund of Aviva has performed very well with a Compounded Annualised Growth Rate (CAGR) of 29.80% as on 31 March, 2004 since inception (6 June, 2002). Growth Fund (inception - 27 January, 2004) and Secure Fund (inception - 27 January 2004) have a CAGR of 7.08% and 36.87% respectively.
The new product LifeBond Plus is expected to further strengthen Aviva’s leadership position in the unit linked products market.
Stuart Purdy, managing director, Aviva Life Insurance, said: “We are delighted to bring to our customers this new product LifeBond Plus. This product is ideal for any individual who seeks investment returns, tax benefits and a life insurance cover without having to worry about future premium payments. It is our constant endeavor to ensure that our customers have access to world-class insurance products at all times.”
Individuals between 18 to 65 years of age can purchase LifeBond Plus, with the minimum and maximum policy terms being five and 25 years respectively. The plan also offers the accidental death benefit rider along with the policy.
The sum assured with this policy is five times of the initial single premium. In the unfortunate event of a death during the policy term, the higher of sum insured or policy value with respect to initial single premium is paid to the beneficiary along with an additional amount equal to the rider sum under accidental death benefit rider. The value of units purchased through additional single premiums is also paid in addition to the above.
Aviva was one of the first private life insurance companies in the country to introduce unit linked products. Unit linked products have a distinct advantage over traditional products. They offer transparency, flexibility and value for money. In addition, investment options range from the security of with -profits fund through to equity based fund options.
Unit linked products also allow a customer to opt for the indexation benefit to ensure that the real value of the policy is not impacted by inflation. There is flexibility to invest a lump sum amount in the same policy through an additional single premium. Depending on the individual’s needs, there is also a flexibility to choose between different fund options and to switch between the funds.
For further information, please contact:
Vivika Dass
Aviva Life Insurance Company India Pvt. Ltd.
e-mail: vivika.dass@avivaindia.com