Sayan Chatterjee,
New Delhi: Private life insurer Aviva Life Insurance unraveled a non-participating traditional retirement plan, titled, ‘Aviva Income Suraksha’ especially designed for the on-service force fraternity of Indian Armed Forces.
It has been indicated, that, the main objective of the said plan is to offer our warriors the ability to plan their financial preparedness post retirement with utmost ease. It is aimed at providing an additional financial aid with a regular monthly income stream for all its holders.
The insurance company introduced its Defence Channel last year. The success in this segment of the market encouraged the brand to go deeper, with a tailor-made proposition for the forces. Aviva Income Suraksha – is a customized proposition introduced by Aviva for the defence channel to offer a customized financial plan specifically focused towards the “jawans” who secures the border of our nation.
The said financial plan guarantees monthly income for 10 years for a premium paying term of 10 years (post deferment period). If the premium paying term is 12 years, monthly income is also guaranteed for 12 years. It has an additional age-related, one-time benefit paid along with last monthly payout.
The deferment period of zero, three or five years, provides customers with the flexibility to align the inflow of monthly guaranteed income to suit their life stage needs.
Whilst expressing her views, Ms. Anjali Malhotra, Chief Customer, Marketing, Digital & IT Officer said, “At Aviva Life insurance, the customer is at the center of all our product development process. With Aviva Income Suraksha, we aim to secure the financial future of the defence personnel, who are the protectors of our nation. The endeavor is to secure the lives of those who work tirelessly to protect us. The plan has been customized to their specific needs and will enable them to carry out proper financial planning for their growing needs through different life stages”
With the single-minded focus of delivering a comprehensive and differentiated proposition, Aviva Life Insurance introduced Aviva Income Suraksha in line with the brand’s vision of creating tailor-made products addressing to specific needs of customers. While the plan has been developed mainly for the Suraksha (defence) channel, Aviva Income Surkasha will be equally useful for all other customer segments with needs for income replacement or supplementary income.
“The defence personnel usually retire at a very young age between 38 to 42 years, thus lowering their primary income. With Aviva Income Suraksha, we propose a solution to support them with a financial plan to meet most of their life goals like child education, saving for children’s marriage post early retirement, whilst they find alternate source of employment post defence service. Moreover, the premiums can be paid on monthly modes making it easier for them to save in small installments.” Ms. Malhotra further added.
