Aviva Life Shield Premium, a non-linked non-participating individual pure risk life insurance plan, was launched today by Aviva Life Insurance. It is a complete term life insurance plan that can be customised to meet the needs of each individual and his or her family, ensuring that everyone may benefit from the protection of a term life insurance policy on their own terms. Customers may pick and personalise features like as the sum assured, premium payment term and frequency, and claim pay out methods, among other things.
The money secured under this plan is guaranteed at the time of purchase and will be according to the choice selected, so you can relax. Individuals as young as 18 years old can purchase the Aviva Life Shield Premium plan, with a maximum age of 65 years. The age of maturity has been set at 80 years. One time for Single Premium ,5, 10 years or up to 60 years of age for Limited Pay Mode; and Equal to the full insurance term for Regular Premium.
“We understand client needs, and our teams have been striving to develop new and more relevant solutions to guarantee that our clients’ future is secure,” says Vinit Kapahi, Head, Marketing Function, Aviva Life Insurance. The Aviva Life Shield Premium plan may be customised to meet your specific financial needs. This product will not only meet the growing need for Term Life Insurance, but it will also encourage more consumers to take advantage of insurance’s benefits by insuring themselves.”
Customers may choose between a regular, limited, or single premium payment period with Aviva Life Shield Premium, which has a policy term of up to 62 years. It also allows you to pay for premiums on a yearly, semi-annual, or monthly basis.
This product, according to the firm, helps consumers to manage their financial portfolio by offering a variety of pay-out options, including lump payment, income, and 50:50 splits. In addition, customers are covered for Accidental Death and Permanent Total Disability as a result of an accident.
Aviva Life Shield Premium’s primary differentiators include:
- Aviva Life Shield Premium gives consumers the option of customising their plan to fit their family’s needs.
- Customers can choose to increase or decrease the sum assured according on their financial circumstances
- Customers may pay a low premium for as little as 5 years and be covered until they are 80 years old.