Private insurer Aviva Life Insurance on Monday announced the launch of Aviva Saral Jeevan Bima, a standard term life insurance plan.
The Individual Non-Linked, Non-Participating, Pure Risk Life Insurance Plan is designed to offer affordable financial protection to customers.
The plan offers easy to understand features and allows flexibility to the customers to adapt the policy basis their needs to provide financial protection to their loved ones.
Aviva's Saral Jeevan Bima plan offers a minimum sum assured of Rs 5 lakh and a maximum sum assured of up to Rs 25 lakh for a policy term ranging between 5 - 40 years.
The policy also offers customers the flexibility to choose between premium payment term options of regular pay, single pay and limited pay of 5 or 10 years.
Another advantage is that customers get to choose from multiple premium payment mode options i.e., annual, semi-annual or monthly payment.
Entry age for this plan is up to 65 years and customers can avail insurance benefits from a short period of 5 years to as long as 40 years.