Aviva Life Insurance, today, announced the launch of "Aviva Dhan Vriddhi", an insurance product designed to provide a combination of savings cum protection plan with guaranteed returns and tax benefits.
Aviva Life Insurance, today, announced the launch of "Aviva Dhan Vriddhi", an insurance product designed to provide a combination of savings cum protection plan with guaranteed returns and tax benefits.
Speaking on this occasion, Vivek Khanna, director of marketing, Aviva Life Insurance, India said: "We are delighted to bring to our customers this new product ‘Dhan Vriddhi'. We constantly innovate to launch products that benefit our customers. This product has a compelling proposition that will appeal to the demanding and value conscious Indian customer and fulfil the need for both savings and protection. This is a unique plan providing a flexible term and a money back benefit."
The product addresses not only the savings and protection angle for a customer but also ensures guaranteed liquidity at regular intervals, in the form of guaranteed survival and maturity benefits. The uniquely designed policy provides a guaranteed addition of Rs 70 per 1000 sum assured for every completed policy year.
Another striking feature is that, the policy also provides a payout of 20% of the basic sum assured as a survival benefit at regular five-year intervals till the policy matures. In case of death the full sum assured along with the accrued guaranteed addition is payable, irrespective of the survival benefits already paid.
-ends-
For further information, please contact:
Pooja Khan
Aviva India
Telephone: 0124-2804141
E-mail: pooja.khan@avivaindia.com
Notes to editors:
About Aviva India
Aviva Life Insurance is a joint venture between Dabur and Aviva. Current paid up capital amounts to Rs 758.20 crores. Dabur are the 74% shareholder and Aviva the 26% shareholder. 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 35 million customers and £332 billion assets under management. Prior to nationalization, Aviva was the biggest of the foreign insurers operating in the Indian market.
Founded in 1884, Dabur is one of India's oldest and largest groups of companies with the group's consolidated annual sales in excess of Rs 1,899 crores. A professionally managed company it 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 497 towns and cities across India.
Aviva's products have been designed in a manner to provide customers flexibility, transparency and value for money. We have been among the first companies to introduce unit-linked products in the market.
Aviva has a unique need based sales approach through the "financial health check" (FHC). The FHC is a free service administered by our 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 the customer, the financial health check assesses and recommends the right insurance product for them.
Aviva is also keen to reach out to the underprivileged that have not had access to insurance so far. Through its association with BASIX (a micro financial institution) and other NGOs, it has been able to cover lakhs of lives.