~ Single premium immediate annuity plan that guarantees a regular income for the rest of your life
Aviva Life Insurance, India’s most trusted private insurance company, has announced the launch of Aviva Saral Pension Plan, A Non-Linked Non-Participating Single Premium Individual Immediate Annuity Plan. It is a product with simple features and standard terms and conditions that enable customers to decide on planning their retirement. The plan allows the customers to adopt the policy basis their needs to ensure their secure retirement and provide financial protection to their loved ones in their absence.
Aviva Saral Pension Plan offers numerous benefits like guaranteed regular income for the rest of your life by paying just once, flexibility to receive annuity Monthly, Quarterly, Half-Yearly and Yearly, and loans against the policy. In case of demise of the annuitant, the entire purchase price Premium Amount is paid to the nominee(s). Additionally, the policy can be surrendered any time after six months from the commencement date if the annuitant, spouse, or any of the children of the annuitant is diagnosed with any critical illnesses specified in the Policy Document.
Vinit Kapahi, Head, Marketing Function, Aviva Life Insurance said, “In line with IRDAI’s vision to offer standard immediate annuity product with simple features, we have launched Aviva Saral Pension Plan. We understand the need for regular income in the later years of life and the importance of securing the financial future of loved ones even in one’s absence, making Aviva Saral Pension a helpful instrument for retirement planning.”
He further added, “Keeping in mind that the life expectancy is increasing because of improved healthcare facilities, nuclear families becoming a norm, retirement planning has become a necessity. So many people imagine themselves sitting comfortably, free of responsibilities, enjoying life in their golden years, and we want to help our customers live this dream with this launch of this product.”