Aviva Life Insurance launches unit linked insurance plan, Aviva Fortune Plus
Premium- Aviva Fortune Plus offers a feature of returning at least 100% of the charges paid by a customer during the policy term, at maturity
NEW DELHI: Aviva Life Insurance announced the launch of Aviva Fortune Plus, a unit linked insurance plan, which is designed to offer dual benefits on investment -- wealth creation and insurance.
The plan offers seven fund options and allows flexibility to the customers to adapt the policy basis their needs to provide life insurance cover and enhances wealth with the opportunity to grow one’s savings.
According to the press release, “Aviva Fortune Plus offers a feature of returning at least 100% of the charges paid by a customer during the policy term, at maturity. The plan also allows customers to choose the policy term, premium paying term, and the premium amount and design their plan as per their needs to get the maximum benefit. Another feature is that customers can extend the coverage by 5 to 10 years beyond the original maturity date. In addition, customers get additional protection against accidental death, and the plan offers the flexibility of partial withdrawals, free switches, and premium redirections to manage their investments."
Amit Malik, CEO and MD, Aviva Life Insurance said, “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."
As per the press release, some key features of Aviva Fortune Plus are:
Return of Charges (Premium Allocation; Mortality for base policy life cover & Policy Administration Charges; excluding fund management charges, charges for riders and taxes): At maturity, customers get back at least 100% of these charges, which get deducted during the policy term.
Option for Additional Protection (on payment of additional risk charges): Option of accidental death benefit and waiver of premium.
Extend Life Cover: Extend policy term by 5 or 10 years.
Multiple Fund Options: One can choose from 7 unit linked funds as per risk appetite.
Top-up Premium Option: ‘Top-up’ premium by paying extra towards policy.
Easy Withdrawal Options: With Partial Withdrawal & Systematic Partial Withdrawal options customers can customize withdrawal as per their needs.
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