Mr. Rishi Piparaiya, Director – Marketing and Banassurance at Aviva India announced the launch of on-line life insurance plan i-life secure. This plan provides for guaranteed income for 15 years post death of the life insured. Adding to the above, he said that this plan ensures that the family of the deceased and their needs are protected, whether it is the child’s school fees, EMI for housing loan or protection of the family by way of regular income.
The special features of this product are as under:-
- Low premium amount.
- Guaranteed income after death of life insured for the next 15 years
- Payment of 10% of the sum assured immediately at the time of claim settlement and there on 6% p.a for next 15 years. This amount is paid every year on the death anniversary of the deceased.
- Deduction under section 80C of the Income Tax Act.
Minimum income to purchase this policy should be Rs. Six lacs and above annually.
Aviva India is a Indian life assurance firm and a joint venture between Aviva Plc, a UK based assurance company and India’s Dabur Group. Aviva plc holds 26% shares in the company while remaining 74% shares are held by Dabur Group. The company started its operation in July 2002 and has more than 135 branches across the country with more than 70 insurance brokers.