Aviva Life Insurance announced the launch of Aviva Life Shield Premium, a Non-Linked Non-Participating Individual Pure Risk Life Insurance Plan. It is a comprehensive term life insurance plan that can be personalized as per the needs of every individual and his family to ensure that one enjoys the protection of a term life cover on their own terms. Towards this goal, Aviva has launched the campaign #OnYourTerms and the product has been designed to enable customers to choose and customize options around the sum assured, premium payment term and frequency, claim payout methods, among others.
Aviva Life Shield Premium comes with policy term up to 62 years and provides customers optional payment term of Regular, Limited and Single Premium payment term and Annual, semi-annual or monthly Premium payment frequency. This product allows customers to balance their financial portfolio with multiple payout methods ranging from lump sum, income and 50:50. Another advantage is that customers get an additional protection against Accidental Death and Permanent Total Disability due to an accident.
Some key differentiators of Aviva Life Shield Premium are:
- The plan offers opportunity to choose increasing or decreasing sum assured as per customers’ financial needs.
- Customers can pay a limited premium for as less as 5 years and enjoy coverage till the age of 80.
- Aviva Life Shield Premium lets customers enjoy freedom to tailor-make the plan to suit their family.