New Delhi, 17 February 2023: Aviva Life Insurance, India’s most trusted private life insurance company, announced the launch of the Aviva Signature Guaranteed Income Plan. The non-linked, non-participating savings life insurance plan is designed to provide customers with a comprehensive solution to help them build long-term wealth while saving tax and guaranteeing a steady income stream in the long run.
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 and offers four distinct options:
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.
Lastly, 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.
Aviva Signature Guaranteed Income Plan offers up to three times guaranteed returns on total premiums and provides customers with tax-efficient early and deferred income options. Additionally, customers can expect loyalty additions, guaranteed maturity additions, and zero alteration charges for frequency changes. Furthermore, it has 26 policy and premium paying term variants, allowing customers to choose the option that best suits their financial needs.
Mr. Vinit Kapahi, Head of Marketing, said, “Our new Aviva Signature Guaranteed Income Plan aims to meet the diverse financial needs of policyholders at different phases of their lives. 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.”
Key highlights of the Aviva Signature Guaranteed Income Plan are:
Up to three times of Guaranteed Returns on Total Premiums# Paid
Tax Efficient Early Income
Tax Efficient Deferred Income
Tax free Lump Sum
Loyalty Additions, Guaranteed Maturity Additions
Range of Premium Paying Term and Policy Term Variants – 26 in all
Zero Alteration Charges for Frequency Change
Dual Tax Benefits
# excluding the taxes, underwriting extra premiums, and loadings for modal premiums if any