Aviva Life Insurance has launched Aviva Fortune Plus, a Unit Linked Insurance Plan, with dual advantages on investment: wealth creation and insurance coverage. The program delivers seven fund solutions and makes it possible for flexibility to the policyholders to adapt the policy basis their demands to provide life insurance coverage cover and boost wealth with the chance to develop one’s savings.
The program also delivers the feature of returning at least one hundred per cent of the charges paid by a consumer throughout the policy term, at maturity. With this program, one could also select the policy term, premium paying term, the premium quantity and style the program as per their demands to get the maximum advantage.
Additionally, consumers can also extend their coverage by 5 to 10 years beyond the original maturity date. In addition, consumers get added protection against Accidental Death, and flexibility of partial withdrawals, free of charge switches, and premium redirections to handle their investments.
Amit Malik, CEO and MD, Aviva Life Insurance says, “The ongoing pandemic has taught us that the only thing certain about life is that it is uncertain. While we cannot predict the future, we can certainly prepare for it. Aviva Fortune Plus is a life insurance plan that makes money multitask, it not only provides life insurance cover but also returns the charges at maturity to further enhance our customers’ wealth.”
He additional added “Fortune Plus is a response to investors’ growing affinity towards long-term returns, flexibility, and the benefit of life insurance cover. With this launch, multiple benefits will be offered with one plan, wealth creation and financial security, with added convenience, to help customers build a sound corpus for meeting all their financial goals.”
Some crucial features of the program include things like
- Return of Charges (Premium Allocation Mortality for base policy life cover and Policy Administration Charges excluding fund management charges, charges for riders and taxes): At maturity, consumers get back at least one hundred per cent of these charges which get deducted throughout the policy term.
- Opt for Additional Protection (on payment of added threat charges) with
- a) Accidental Death Benefit (Optional Cover)
- b) Waiver of Premium (Optional Cover)
- Extend Life Cover: Extend policy term by 5 or 10 years.
- Multiple Fund Options: One can select from 7 unit-linked funds as per threat appetite.
- Top-up Premium Option: ‘Top-up’ premium by paying added towards policy.
- Easy Withdrawal Options: With Partial Withdrawal and Systematic Partial Withdrawal solutions consumers can customize withdrawal as per their demands.