Aviva India Launches Unit-Linked Insurance Plan, Fortune Plus


Aviva Life Insurance, a private insurance company, has announced the launch of Aviva Fortune Plus, a unit-linked insurance plan.

The plan offers seven fund options and flexibility for clients to tailor the base of the policy to their needs to provide life insurance coverage and enhance wealth with the ability to grow their savings.

Aviva Fortune Plus offers a refund feature of at least 100 percent of fees paid by a customer over the term of the policy, at maturity. The plan also allows clients to choose the length of the policy, the premium payment duration and the amount of the premium and to design their plan according to their needs to get the maximum benefits.

Customers can extend coverage 5 to 10 years beyond the original maturity date. Plus, they can get additional accidental death protection, and the plan offers the flexibility of partial withdrawals, free transfers, and premium redirects to manage their investments.

Amit Malik, CEO and Managing Director of Aviva Life Insurance, said: “Fortune Plus is a response to investors’ growing affinity for long-term returns, flexibility and the benefits of life insurance coverage. With this launch, our goal is to provide multiple benefits with one plan, wealth creation and financial security, with added convenience. “

Main characteristics:

  • Reimbursement of expenses (Premium allowance; mortality for basic life insurance coverage and policy administration fees; excluding fund management fees, endorsement fees and taxes): at the at maturity, clients recover at least 100% of these fees which are deducted during the term of the policy

  • Opt for additional protection (on payment of additional risk fees) with
    a) Accidental death benefit (optional cover)
    b) Waiver of premium (optional cover)
    Extend Life Coverage: Extend the term of the policy by 5 or 10 years

  • Multiple fund options: You can choose from 7 unit linked funds depending on risk appetite

  • Premium Recharge Option: “Recharge” premium by paying a supplement for the policy

  • Easy withdrawal options: With the partial withdrawal and systematic partial withdrawal options, customers can customize the withdrawal according to their needs.

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Posted on: Monday August 02, 2021 15:13 IST

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