Guaranteed income for soldiers! Know about this Income Suraksha plan
Aviva Life Insurance has launched a traditional retirement plan especially designed for the defence forces, named 'Aviva Income Suraksha'. The plan offers soldiers the ability to plan their financial preparedness post retirement.
Aviva Life Insurance has launched a traditional retirement plan especially designed for the defence forces, named 'Aviva Income Suraksha'. The plan offers soldiers the ability to plan their financial preparedness post retirement. It provides an additional financial aid with a regular monthly income stream for all our customers. Aviva Income Suraksha is a customised plan introduced by Aviva for the defence channel, which specifically focuses towards the 'jawans' that protect country's borders.
Anjali Malhotra, Chief Customer, Marketing, Digital & IT Officer, Aviva Life insurance said, ''With Aviva Income Suraksha, we aim to secure the financial future of the defence personnel, who are the protectors of our nation. The endeavor is to secure the lives of those who work tirelessly to protect us. The plan has been customized to their specific needs and will enable them to carry out proper financial planning for their growing needs through different life stages.''
Aviva Income Suraksha plan details
Duration: 10 or 12 Years (as per choice and paying capacity
Deferment Period: 0, 3 or 5 years post premium paying term
Premium Pay-out at Maturity:
- Monthly income guaranteed for 10 years for premium paying term of 10 years (post deferment period)
- Monthly income guaranteed for 12 years for premium paying term of 12 years (post deferment period)
- Additional age related one-time benefit paid along with last monthly payout
Premium Paying Frequency
Annual &monthly modes available with no extra charges for paying monthly and additional benefits for customers paying on annual mode
Similar structured payouts for 10 or 12 years as in maturity benefit with higher quantum of monthly income to take care of recurring expenses. The death benefit triggers on unfortunate demise of the insured. Additional age related one-time benefit is paid along with last monthly payout.
“The defence personnel usually retire at a very young age between 38 to 42 years, thus lowering their primary income. With Aviva Income Suraksha, we propose a solution to support them with a financial plan to meet most of their life goals like child education, saving for children’s marriage post early retirement, whilst they find alternate source of employment post defence service. Moreover, the premiums can be paid on monthly modes making it easier for them to save in small installments.” Malhotra further added
The plan has been developed mainly for the Suraksha (defence) channel, Aviva Income Surkasha will be equally useful for all other customer segments with needs for income replacement or supplementary income.