Aviva Life Insurance has launched Aviva Signature Guaranteed Income Plan, a non-linked, non-participating savings life insurance plan that helps build long-term wealth. The plan also helps customers save tax and guarantees a steady income stream in the long run, the company said.
The plan offers up to three times guaranteed returns on total premiums and provides customers with tax-efficient early and deferred income options. Customers can expect loyalty additions, guaranteed maturity additions, and zero alteration charges for frequency changes, Aviva said. It has 26 policy and premium paying term variants, allowing customers to choose the option that best suits their financial needs.
“The plan is crafted keeping in mind the financial needs of individuals across all stages of their lives, starting from young singles and couples to parents with young and grown-up children, couples nearing retirement, or already retired individuals,” Aviva sais. The plan offers four distinct options:
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Signature Moneymaker provides customers with guaranteed income annually from the second policy anniversary till the policy matures along with a lump sum at maturity so that they can enjoy tax benefits on premium payment and income payouts.
Signature Investor offers customers a lump sum payment on survival of the life insured till maturity to fulfil their long-term goals.
Signature Builder allows customers to receive guaranteed income over a payout period, with the guaranteed income beginning from one year after the end of the policy term to have a steady stream of income after the deferment period.
Signature Saver pays out guaranteed income annually from one year after the end of the premium payment term till policy maturity for customers who require a guaranteed stream of income to fulfill child education or retirement goals.
Vinit Kapahi, Head of Marketing, said, “The plan will enable guaranteed, tax-free, long-term, risk-free wealth accumulation and income in a single offering, providing peace of mind and financial security. With four variants to choose from and a range of premium and policy term options, we aim to empower a wide range of customers to achieve their financial goals with confidence and peace of mind.”