Aviva India launches Aviva Life Shield Premium – Check features

Aviva Life Insurance, today announced the launch of Aviva Life Shield Premium, a Non-Linked Non-Participating Individual Pure Risk Life Insurance Plan. It is a comprehensive term life insurance plan, can be personalized as per the needs of every individual and his/her family to ensure that one enjoys the protection of a term life cover on their own terms. The product has been designed to enable customers to choose and customize options around the sum assured, premium payment term and frequency, claim payout methods, among others.

Vinit Kapahi, Head, Marketing Function, Aviva Life Insurance says “We understand customer demands and our teams have been working to launch new and more relevant products to ensure that our customers’ future is secured. Aviva Life Shield Premium plan can be personalized as per financial needs. This product will cater to the increasing demand for Term Life Insurance but will also ensure that more customers choose to enjoy the benefits of insurance by insuring themselves.”

Aviva Life Shield Premium comes with a policy term of up to 62 years and provides customers with an optional payment term of a regular, limited and single premium payment term. It also offers Annual, semi-annual or monthly Premium payment frequency.

The company claims that this product allows customers to balance their financial portfolio with multiple payout methods ranging from lump sum, income and 50:50. Along with that customers get additional protection against Accidental Death and Permanent Total Disability due to an accident.

Some key differentiators of Aviva Life Shield Premium;

• The plan offers the option to choose increasing or decreasing sum assured as per customers’ financial needs.
• Customers can pay a limited premium for as little as 5 years and enjoy coverage till the age of 80.
• Aviva Life Shield Premium lets customers enjoy the freedom to tailor-make the plan to suit their family.

Source: Financial Express