Life insurance company Aviva India on Friday launched the Aviva Signature Guaranteed Income Plan for guaranteed long-term income and wealth creation besides tax-saving benefits.
It is a non-linked, non-participating savings life insurance plan designed to provide customers with a comprehensive solution to help build long-term wealth.
Describing the plan, Vinit Kapahi, head of marketing of Aviva India, in a press release, said, “The plan aims to meet the diverse financial needs of policyholders at different phases of their lives”, enabling guaranteed, tax-free, long-term, risk-free wealth accumulation and income.”
For instance, it provides customers with up to three times guaranteed returns on total premiums, with tax-efficient early and deferred income options.
In addition, customers could get guaranteed loyalty and maturity additions and zero charges for alteration or frequency changes, providing customers with an all-inclusive solution to their financial security and peace of mind in a single offering.
Furthermore, it has 26 policy and premium paying term variants, allowing customers to choose the option that best suits their financial needs.
Kapahi said the plan comes with four variants with corresponding premium and policy terms, which “empower a wide range of customers to achieve their financial goals.” The options include Signature Moneymaker, Signature Investor, Signature Builder, and Signature Saver.
The plan caters to individuals across all stages of their lives, from young singles and couples, parents with young and grown-up children, to couples nearing retirement or already retired.
Signature Moneymaker: It provides customers with guaranteed annual income from the second policy anniversary till it matures, besides a lump sum at maturity, with tax benefits on premium payments and income payouts.
Signature Investor: It offers customers a lump sum payment on survival of the life insured till maturity, helping fulfil their long-term goals.
Signature Builder: Under this plan, customers receive guaranteed income over a payout period, from one year after the end of the policy term, for steady income after the deferment period.
Signature Saver: It also offers guaranteed income annually from one year after the end of the premium payment term till maturity to help fulfill children’s education or retirement goals.
The Plan In A Nutshell:
• Up to three times guaranteed returns on total premiums paid. • Tax-efficient early income. • Tax-efficient deferred income. • Tax-free lump sum amount. • Loyalty and guaranteed maturity additions. • 26 premium paying term and policy term variants. • Zero alteration charges for frequency change •Dual tax benefits.
The Plan In A Nutshell:
• Up to three times guaranteed returns on total premiums paid.
• Tax-efficient early income.
• Tax-efficient deferred income.
• Tax-free lump sum amount.
• Loyalty and guaranteed maturity additions.
• 26 premium paying term and policy term variants.
• Zero alteration charges for frequency change
•Dual tax benefits.
