A Comprehensive Post- Retirement Regular IncomeSolution offering 15% Increase in Income every 3rd year forwhole Life
New Delhi 10 September 2024: Aviva Life Insurance, India’s most trusted private life insurance brand, has announced the launch of the Aviva Signature Increasing IncomePlan-a Non-Linked, Non-Participating,Life Insurance Savings Plan (UIN: 122N158V01). The Plan is specially designed to offer a guaranteed and growing,post- retirement income stream and help customers #LiveLifefreely in their golden years.
With theincreasing life expectancy and rising cost of living, financial security in retirement has become more critical than ever. Aviva Signature Increasing Income Plan addresses these challenges head-on, offering innovative features that make it stand a class apart in the market.
This plan addresses inflation with a 15% step-up in monthly income every 3rdpolicy year, which means that over time, the payouts go up in correlation with inflation, therefore sheltering the policyholder’s purchasing power.
Aviva Signature Increasing Income Plan provides guaranteedwhole-life income, ensuring income benefits to the policyholder and offering comprehensive financial security till the age of 100 years. In addition, it offers a return of premiums at the end of the payout period, where the policyholder receives back 105% of the total premiums paid, thus enhancing the overall benefit of the plan. With flexible premium payment frequency, the plan allows consistent monthly savings towards a secured retirement, making it accessible to a wide range of customers.
In the event of the Policyholder’s death during the Policy Term, the guaranteed Death Benefit, provides essential financial support during challenging times. A noteworthy feature is theIn-built Premium Guarantee, whereby Aviva pays all future due premium on behalf of the Policyholderand the family gets the Guaranteed Increasing Income that was promised to the customer.
Mr. Vinit Kapahi, Senior Vice President and Head of Marketing, said, ” After catering to the Protection needs of our customers with Aviva Signature 3D Term Plan and helping them enhance wealth through Aviva Signature Investment Plan-Platinum, the 3rd product that we’re launching this quarter is designed for securing guaranteed post-retirement income.In today’s unpredictable economic landscape, this plan offers the assurance of a growing, inflation-proof income stream, ensuring that our customers can enjoy a secure and comfortable retirement.Aviva Signature Increasing Income Plan embodies our commitment to innovation and aligns with the future financial needs of our customers.”
Key Features:
- Life Insurance: Provides life insurance coverage of 7 or 11 times of the annualized premium.
- Lifelong Income Guarantee: Offers guaranteed monthly income till the age of 100, with a 15% increase every third policy anniversary.
- Inbuilt Premium Guarantee Benefit: In the event of life assured’s death during the premium payment term, the claimant receives long-term increasing income as scheduled, without the burden of paying any due future premiums.
- Return of Premiums: Returns 105% of the total premiums paid, at the end of the payout period.
- Optional Riders: Enhanced protection with Aviva Accidental Casualty Non-Linked Rider and Aviva New Critical Illness Non-Linked Rider.
- Tax Benefit on Premiums and Payouts: Tax benefits as per prevailing tax laws.
- Loan Facility: Loans are available under this plan.
The Aviva Signature Increasing Income Plan is part of Aviva’s Signature Product series. The Signature Series, with its comprehensive bouquet of Product offerings, aims to solve Protection, Long term Savings and Retirement needs for customers.
For more details about the plan: https://www.avivaindia.com/saving-investment-plans/aviva-signature-increasing-income-plan
