Aviva Life Insurance today announced the launch of Aviva Dhan Samruddhi- a traditional money back plan with guaranteed returns.
- A traditional money back plan with guaranteed returns
- Guaranteed addition of 7% per annum to 9% per annum of the annual premium
- Survival benefit of 125% of annual premium every 5 years
Aviva Life Insurance today announced the launch of Aviva Dhan Samruddhi- a traditional money back plan with guaranteed returns. The product has been designed recognizing the need for customers to build a long-term corpus along with the flexibility to fulfill their short term financial needs. Aviva Dhan Samruddhi gives a guaranteed addition of 7% per annum to 9% per annum of the annual premium, till the end of the policy term, depending upon the policy term chosen. One also gets a payback of 125% of annual premium as survival benefit every 5 years.
Speaking on the new launch Mr. T R Ramachandran, CEO and Managing Director, Aviva Life Insurance India said, "Aviva Dhan Samruddhi is a product that has been designed basis a Consumer Attitudes towards Savings study. The survey highlighted that in India, 56% of customers are not willing to take a risk on their investments and are looking for guaranteed returns. Aviva Dhan Samruddhi not only enables one to build a corpus for future financial needs, it periodically gives guaranteed money back during the policy term, so that one can continue to meet their ongoing financial requirements with ease.”
Key Features of Aviva Dhan Samruddhi
- Guaranteed returns: Your policy earns a guaranteed addition of 7% per annum to 9% per annum of the annualized premium (excluding taxes and any other extra premium), till the end of the policy term, depending on the policy term chosen by you, payable at maturity.
- Liquidity: Your policy pays back 125% of the annualized premium (excluding taxes and any other extra premium) as survival benefit every 5 years (except at maturity)
- Guaranteed maturity benefit: At maturity, you get the Sum Assured plus accrued Guaranteed Additions minus Survival Benefits already paid
- Rebate for high Sum Assured: Rebate on basic premium is allowed if your Sum Assured is Rs 5 lakhs or higher.
- Tax Benefits: Tax benefits as per Section 80C and 10 (10D) of Income Tax Act 1961
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Notes to editors:
Aviva provides 43 million customers with insurance, savings and investment products.
We are one of UK’s largest insurers and one of Europe’s leading providers of life and general insurance.
We combine strong life insurance, general insurance and asset management businesses under one powerful brand. We are 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.
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