Aviva Life Insurance Launches Term Insurance with Return of Premiums Proposition

Aviva Life Insurance Company India Limited, a life insurance company committed to helping customers lead healthier, more secure and fulfilling lives, has announced the launch of its Term Insurance Plan with Return of Premiums proposition, Aviva Smart Return of Premium Term Plan, offering customers a return of 105% of the Total premiums paid on survival till maturity.
 

Aviva Life Insurance

As customers increasingly look for financial solutions that address both protection needs and long-term financial planning, the proposition brings together the core benefit of term insurance with a defined return at the end of the policy term. The plan provides life cover during the policy term and, on survival to the end of the policy term, provides for a return of 105% of Total premiums paid, subject to the terms and conditions of the policy.

The proposition offers customers the flexibility to choose a policy term ranging from 10 to 30 years and life cover ranging from Rs. 5 lakh to Rs. 50 lakh, subject to eligibility criteria and policy terms and conditions. Customers can enter the plan between 18 and 60 years of age, with a maximum age at maturity of 75 years.

Customers can also enhance their protection through optional riders covering accidental casualty and critical illnesses. The plan further offers flexibility in premium payment frequency and the option to purchase the policy under the Married Women’s Property Act (MWPA) to help safeguard policy benefits for the spouse and/or children. 

Key Features of Term Insurance with Return of Premium (TROP):

• 105% Premium Return: Receive 105% of Total premiums paid back at maturity, subject to policy terms and conditions

• Flexible Policy Term: Choose a policy term ranging from 10 to 30 years based on individual protection needs

• Enhanced Protection: Option to enhance protection through available accidental casualty and critical illness riders

• Flexible Premium Payments: Choose from monthly, quarterly, half-yearly, or yearly premium payment frequencies

• MWPA Option: Option to safeguard policy benefits for the spouse and/or children under the Married Women’s Property Act

• Policy Loan: Avail a loan of up to 80% of the surrender value, subject to policy terms

• Tax Benefits: Tax benefits as per prevailing tax laws

Commenting on the launch, Mr. Asit Rath, CEO & MD, Aviva Life Insurance, said, “Customers today are looking for insurance (protection) solutions that provide meaningful financial security while offering greater clarity on the benefits available over the policy term. With our Term Insurance with Return of Premium proposition, we are bringing together life protection and a defined return of applicable premiums. At Aviva Life Insurance, our approach goes beyond protection to support the overall well-being of our customers by encouraging healthier lifestyles, positive habits, and greater preparedness for the future. Through relevant, customer-centric solutions, we aim to help individuals and families lead healthier, more secure, and better-prepared lives with confidence.”

Mr. Rajat Srivastava, Chief Distribution Officer, Aviva Life Insurance, said, “At Aviva Life Insurance, our distribution focus is on reaching a wider set of customers with protection solutions that are relevant to their evolving needs and financial priorities. Term Insurance with Return of Premium strengthens our protection portfolio and gives our distribution teams another proposition to engage customers across different life stages, while helping families build greater long-term financial security. As we continue to strengthen our reach and deepen customer engagement across channels and markets, we remain committed to supporting the broader industry vision of ‘Insurance for All by 2047’.”

The launch further strengthens Aviva Life Insurance’s focus on evolving its protection portfolio in line with changing customer needs. Alongside financial protection, Aviva Life Insurance continues to encourage individuals and families to build greater financial preparedness and adopt positive and preventive approaches to overall well-being.
 

About Aviva Life Insurance
Aviva Life Insurance Company India Limited is a wholly owned (100%) subsidiary of UK-based Aviva International Holdings Ltd. (AIH), an insurance group backed by a rich heritage that dates back to 1696.

Committed to moving the needle from protection to prevention, Aviva Life Insurance helps customers build healthier habits while securing their financial future. Through its range of Term Insurance, Savings, ULIP and Retirement Solutions, complemented by wellness-led offerings and customer-centric initiatives, Aviva Life Insurance helps customers protect what matters most and plan confidently for the future.

Website: www.avivaindia.com