Aviva India Launches Aviva Saral Jeevan Bima
India: Aviva Life Insurance, India’s most trusted private insurance company, today announced the launch of Aviva Saral Jeevan Bima, a standard term life insurance plan. The Individual Non-Linked, Non-Participating, Pure Risk Life Insurance Plan is designed to offer affordable financial protection to customers. The plan offers easy to understand features and allows flexibility to the customers to adapt the policy basis their needs to provide financial protection to their loved ones.
Aviva’s Saral Jeevan Bima plan offers a minimum sum assured of Rs 5 lakhs and a maximum sum assured of up to Rs 25 lakhs for a policy term ranging between 5 – 40 years. The policy also offers customers the flexibility to choose between premium payment term options of regular pay, single pay and limited pay of 5 or 10 years. Another advantage is that customers get to choose from multiple premium payment mode options i.e., annual, semi-annual or monthly payment.
Mr. Vinit Kapahi, Head, Marketing Function, Aviva Life Insurance said, “At Aviva, we have always aimed to cease complexity in every endeavour and our focus is to deliver simple, relevant and good customer outcomes every day. Aviva Saral Jeevan Bima is in line with the IRDAI’s Guidelines to offer standardised simple term insurance plan with affordable premium. The introduction of this product will cater to the demand of our audience and provide an ease to make an informed choice of financially protecting themselves and their family. This product will not only personify this value but will also play an important role in building trust among the customers.”
He further added “With this launch, our aim is to expand the term insurance market and increase insurance penetration of India. We are hopeful that Aviva Saral Jeevan Bima will extend adequate financial protection cover at an affordable price for our customers and ensure financial security against uncertainties in life.”
Some Key Features of Aviva Saral Jeevan Bima are:
- Entry age for this plan is up to 65 years and customers can avail insurance benefits from a short period of 5 years to as long as 40 years.
- The plan offers to choose a life cover amount from INR 5,00,000 up to INR 25,00,000.
- Aviva Saral Jeevan Bima allows to pay a single lump-sum premium, or for the initial 5 or 10 years of the policy term or for the entire policy term.
- Flexible mode of payment; once a year, twice a year, monthly or a single premium.