This plan offers guaranteed payout at the time of maturity, if all due premiums are paid.Aviva Life Insurance has announced the launch of Aviva New Wealth Builder, an individual Non-Linked, Non-Participating Savings Life Insurance Plan. Aviva New Wealth Builder (ANWB) offers the twin benefits of protection and investment and also gives an extra edge as a Guaranteed Plan. This plan has more options of premium payment terms basis their convenience, higher entry age and guaranteed returns which are very relevant and necessary especially during these tumultuous times. This plan offers guaranteed payout at the time of maturity, if all due premiums are paid.
Maturity Benefit: If the life insured survives till the maturity period of the Aviva New Wealth Builder Plan, the Maturity Sum Assured will be paid at the end of the policy term, provided all due premiums are paid.
Death Benefit: In case of the policyholder’s demise during the policy term, the nominee receives the highest payout of the following, provided all due premiums are paid:
- Death sum assured
- 105% of the Total Premiums Paid
- Surrender Value as on date of death – Surrender Value will be higher of Guaranteed Surrender Value or Special Surrender.
Accidental Death Benefit: If the policyholder opts for this add-on benefit and he/she dies due to an Accident, a benefit sum of up to Rs 30 lakh per life will be paid. The policyholder’s minimum entry age for buying this add-on benefit should be at least 18 years.
Features
- Guaranteed Payout to nominee upon Death of policy holder
- Higher Guaranteed Maturity Payout for Premiums Higher than Rs 2.5 lakh
- Greater convenience of paying premiums on a Monthly basis
- Guaranteed Payout at Maturity upon Survival of policyholder
- Enhanced flexibility to invest in a savings plan upto the age of 60 years
- Easy and hassle free to buy the policy online
Anjali Malhotra Chief Customer, Marketing, Digital and IT Officer, Aviva Life Insurance said “At Aviva, we understand that in these unique and uncertain times, people are looking for security, especially since the economy and market have felt a strong impact of the pandemic. In line with our purpose, to be there for our customers, we are offering the New Wealth Builder with a reassurance guarantee built into the plan. Our message to customers is that despite the uncertainty, they must look forward to tomorrow with hope and continue making plans for key life goals with confidence, armed with guaranteed returns behind the certainty of the goal!”
Anjali further added “Aviva has had a strong presence in endowment plans with guaranteed returns. Understanding the current scenario and customers needs to conserve cash and pay in parts, we are offering the flexibility of payment options that will allow customers to pay smaller premiums in Single, Annual, Semi Annual and Monthly modes.”
With the aim to include more people into the secure folds of guaranteed returns, we have increased the entry age to 60 years for Aviva New Wealth Builder. This product allows customers to balance their financial portfolio as lump sum payout at maturity is guaranteed. Another advantage is that the payout received on maturity for regular pay policies is tax-free.
Key differentiators
- There is death cover of 11 times Annualized premium for regular pay options and 1.25 for the single pay option.
- The plan also offers option to add additional protection through add on Accidental Benefit cover that would provide an added financial security to the family, in case of a mishap.
- Aviva New Wealth Builder further provides opportunity to fulfill various life stage goals with investment horizons of 12, 14 and 20 years.
- With this, Aviva enables customers to secure their future with this guaranteed plan as it offers more than double the premiums paid at survival till maturity for policy term 20 years.
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