Aviva Life Insurance Company
Aviva India is an Indian life assurance company, and a joint venture between Aviva Plc, a British assurance company, and Dabur Group, an Indian conglomerate. Aviva started its operations in July 2002 as a joint venture with Dabur Group, one of India’s oldest business houses. As per the Indian insurance sector regulations, Aviva plc has a 26% stake and Dabur has a 74% stake in the JV partnership. Aviva India was bounded by the first companies to introduce modern Unit-linked and unitized with-profit policies. Products include term protection plans, endowment plans, Child policy, Single Premium plans. In addition to these, a new traditional plan called Family Income Builder was launched in August 2012.
Life insurance is a way to secure your different needs in a disciplined manner. Life is a legal agreement and the terms of the contract explain the restrictions of the insured events. The policyholder pays a premium regularly or in a lump sum. Other expenses (such as funeral expenses) can also be included in the settlement.
Life insurance is basically a contract between the life insurance company and the insured under which the insurer promises to pay Life assured which is a predefined benefit that you will receive in case of any emergency of requirement as per the policy’s document. Under the same, the insured person has to pay decided amount which is also popular as a premium to the insurer to continue its policy.
If we talk in simple terms then, if you purchase a life insurance plan, the insurer promises to pay a pre-decided amount in a case where it is required that’s I your unfortunate death. Under the same, the company would be liable to pay an amount to the beneficiary as per stated in the document. In return, you have to pay a pre-decided amount on a regular basis, which is known as premium till the date of your death during the policy tenure.
Why Life Insurance is Needed?
There are several reasons through which you will understand the need of having a life insurance plan. Here is the list of most common reasons :
Offers financial security
Basically, a life insurance policy promises to ay a definite sum in the case where the life assured falls prey to premature death. This is an important plan for those who are breadwinners for their families. With the help of this effective plan, in the unfortunate demise of the breadwinner, the family can easily deal with the financial crises by completing the claim proceedings. There are no doubt in saying that the emotional loss is irreplaceable, no one can replace the same, still, the plan offers the much required financial assistance which can solve several problems of your family.
Helps in achieving financial goals
The plan is designed in a way that can easily help you in achieving financial goals. So, whenever is your goal like arranging funds for child education, retirement corpus, to save your home loan and the personal loan in the case of untimely demise or just want to create wealth only, you will easily find a life insurance that can go well with your needs.
Life insurance builds the habit of savings
We all think of accepting different measures to attain our set financial goals and make a lot of savings for it as well. Such plans play an important role in ensuring future goals when the bread winner in not around to take care.
You must be aware of the fact that for attaining financial goals, you need to make savings. Life insurance helps in building the habit of saving as under the same you have to pay a regular premium to continue your policy. Even you can pay your premium, on the monthly, quarterly or yearly basis as well.