Aviva India has announced the launch of its new life insurance savings plan, Aviva Bharat Bal Vikas Yojana, aimed at supporting families in rural and semi-urban areas in securing their children’s future. With affordable premiums starting at just ₹1,000 per month, the plan offers a unique blend of life cover and guaranteed maturity benefits.
Designed for parents planning for their children’s higher education, skill development, or business aspirations, the policy caters to individuals aged 3 to 50 years, with terms ranging from 12 to 30 years and coverage up to age 80. Flexible premium payment options—monthly, quarterly, half-yearly, or annually—ensure the plan suits a variety of household budgets.
In case of the policyholder’s death, the nominee will receive the highest of the death sum assured, the surrender value, or a minimum of 105% of total premiums paid. Maturity benefits come as a guaranteed sum assured, with additional tax advantages under current laws. In Guwahati, a key semi-urban market, financial advisors have welcomed the product’s simplicity and relevance. With rising aspirations among middle-income families, the plan is seen as a timely tool to support long-term educational and entrepreneurial goals for children.