Aviva India launches retirement income plan with inflation protection : Check key features

 The plan features a 15% increase in monthly income every third policy year, aiming to address inflation and rising living costs.

Aviva Life Insurance has unveiled the Aviva Signature Increasing Income Plan, a non-linked, non-participating life insurance savings plan designed to offer a growing income stream for retirees. The plan features a 15% increase in monthly income every third policy year, aiming to address inflation and rising living costs.

What are the plan's key features?

Lifetime Income Guarantee : Provides guaranteed monthly income until age 100, with a 15% increase every third policy year

Inflation Protection : Adjusts monthly income by 15% every third year to keep pace with inflation.

Premium Return : Returns 105% of total premiums paid at the end of the payout period.

Inbuilt Premium Guarantee : Covers future premiums in the event of the policyholder’s death during the premium term, with guaranteed income continuing for the family.

Flexible Payments : Offers various premium payment options.

Optional Riders : Includes Accidental Casualty and Critical Illness riders for added protection.

Tax Benefits : Eligible for tax benefits according to current tax laws.

                 

Executive Insight

Vinit Kapahi, Senior Vice President and Head of Marketing, commented, "The Aviva Signature Increasing Income Plan represents our latest innovation for ensuring a secure retirement. It provides a growing, inflation-proof income stream, underscoring our commitment to addressing future financial needs."