Updated on: Monday, August 02, 2021, 03:13 PM IST

Aviva India launches unit-linked insurance plan, Fortune Plus


Aviva Life Insurance, private insurance company, announced the launch of Aviva Fortune Plus, a Unit Linked Insurance Plan.

The plan offers seven fund options and 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.

Aviva Fortune Plus offers a feature of returning at least 100 percent 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.

Customers can extend the coverage by 5 to 10 years beyond the original maturity date. In addition, they can get an 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, “Fortune Plus is a response to investors’ growing affinity towards long-term returns, flexibility, and the benefit of life insurance cover. With this launch, our aim is to provide multiple benefits with one plan, wealth creation and financial security, with added convenience.”

Key features:

  • Return of Charges (Premium allocation; mortality for base policy life cover and policy administration charges; excluding fund management charges, charges for riders and taxes): At maturity, customers get back at least 100 percent of these charges which get deducted during the policy term

  • Opt for Additional Protection (on payment of additional risk charges) with
    a) Accidental Death Benefit (Optional Cover)
    b) Waiver of Premium (Optional Cover)
    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 and systematic partial withdrawal options customers can customize withdrawal as per their needs.

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Published on: Monday, August 02, 2021, 03:13 PM IST