Aviva Saral Pension Plan: Aviva Life Insurance has launched Saral Pension Plan . It is an individual annuity plan with a single premium. The features and easy terms and conditions of this non-linked product will enable customers to make better decisions about their retirement planning.
The company claims that in this plan, customers will be able to take a policy according to their needs, which will secure their retirement and their family will get financial security in their absence.
It is a single premium annuity plan that guarantees a regular income for the rest of the life of the policyholder. There are options to take monthly, quarterly, half yearly and yearly annuity. Loan can also be taken against the policy.
In the event of the death of the policyholder, the entire premium amount will be paid to his/her nominee.
If the policyholder, his spouse or any of his children is diagnosed with any of the critical illness as mentioned in the policy document, the policy can be surrendered at any time after six months from the date of inception.
Aviva Life Insurance said that Aviva Saral Pension Plan has been designed as per the vision of standard annuity product with easy features of IRDA. This can be helpful in better retirement planning.
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