Aviva Life Insurance Company India Ltd has launched the Aviva Smart Return of Premium Term Plan, expanding its protection portfolio with a term insurance proposition that returns the total premiums paid if the policyholder survives until maturity, subject to policy terms and conditions.
The plan offers policy terms of 10 to 30 years and life cover ranging from ₹5 lakh to ₹50 lakh, subject to eligibility. Individuals aged 18 to 60 years can enter the plan, with the maximum maturity age set at 75 years. Premiums can be paid monthly, quarterly, half-yearly or annually.
The product also provides optional Accidental Casualty and Critical Illness riders, while customers can opt for coverage under the Married Women’s Property Act (MWPA) to safeguard policy benefits for their spouse and/or children. A policy loan of up to 80% of the surrender value is available, subject to policy conditions, while tax benefits will apply according to prevailing laws.
In Guwahati, the launch adds another option for customers seeking life protection alongside longer-term financial planning. The availability of multiple premium frequencies and policy durations could offer flexibility to households with different financial commitments and protection requirements across Assam.
Aviva Life Insurance CEO and MD Asit Rath said the proposition combines life protection with a defined return of applicable premiums. Chief Distribution Officer Rajat Srivastava said the offering would strengthen the company’s protection portfolio and support wider customer engagement across channels and markets, in line with the industry vision of “Insurance for All by 2047”.
