Insurance Plans Reviews and Articles

3 New Products Launched by Aviva Life Insurance

Posted in life insurance by kishosingh on September 4, 2010

Recently, Aviva Life Insurance launched 3 new products including two unit-linked insurance plans (ULIPs). These plans are – Aviva Freedom Life Advantage, Aviva Life Saver Advantage and Aviva Life Shield Advantage.

An online news portal about business and economy – economictimes.indiatimes.com writes about it, “As per the new IRDA guidelines, the commission paid to distributors and expenses charged by insurers will no longer be front-loaded and will be distributed over the lock-in period of the schemes, which has been raised to five years from three years earlier.”

Now, there will no longer be front-loaded commission paid to distributors and expenses charged by insurers as per the IRDA guidelines.

As per the company press release, “The two ULIP plans – Aviva Freedom Life Advantage, Aviva Life Saver Advantage – offer enhanced value to the customers and meet the new ULIP guidelines.”

So, there are two ULIP plans – Aviva Freedom Life Advantage and Aviva Life Saver Advantage that offer enhanced value to the customers and these are compatible with new ULIP guidelines also.

Further the press release writes, “Besides, a term plan – Aviva Life Shield Advantage – offers a return on the premium, with optional protection against disease and disability.”

There is a term plan also – Aviva Life Shield Advantage that offers a return on the premium. It has an optional protection also against disease and disability.

In the conclusion, the news portal writes, “Aviva Life Insurance is a joint venture between Dabur Group and UK-based Aviva Group. Dabur Group is the 74 per cent shareholder, while Aviva Group holds 26 per cent.”

Aviva Group is an emerging group in life insurance sector. It has gained 26% share with Dabur Group. The UK based group tries to cover Indian insurance sector also offering the best ULIP plans and term plans.

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