Aviva Life Insurance on Tuesday announced the launch of Aviva Dhan Samruddhi- a traditional money back plan with guaranteed returns.
The product has been designed recognizing the need for customers to build a long-term corpus along with the flexibility to fulfill their short term financial needs.
Aviva Dhan Samruddhi gives a guaranteed addition of 7% per annum to 9% per annum of the annual premium, till the end of the policy term, depending upon the policy term chosen.
One also gets a payback of 125% of annual premium as survival benefit every 5 years.
Speaking on the new launch, T R Ramachandran, CEO and Managing Director, Aviva Life Insurance India, said, "Aviva Dhan Samruddhi is a product that has been designed basis a Consumer Attitudes towards Savings study.
"The survey highlighted that in India, 56% of customers are not willing to take a risk on their investments and are looking for guaranteed returns."
"Aviva Dhan Samruddhi not only enables one to build a corpus for future financial needs, it periodically gives guaranteed money back during the policy term, so that one can continue to meet their ongoing financial requirements with ease," said Ramachandran.