Aviva Life Insurance Company India Ltd has launched the Aviva Smart Return of Premium Term Plan, a term insurance proposition that provides life cover during the policy period and returns the total premiums paid if the policyholder survives until maturity, subject to policy terms and conditions.
The plan allows customers to select policy terms ranging from 10 to 30 years and life cover from ₹5 lakh to ₹50 lakh, subject to eligibility. Entry is available from 18 to 60 years, with the maximum maturity age capped at 75 years. Customers can opt for monthly, quarterly, half-yearly or annual premium payments.
The policy also offers optional Accidental Casualty and Critical Illness riders, an MWPA option to safeguard policy benefits for spouses and/or children, and a policy loan of up to 80% of the surrender value, subject to applicable terms. Tax benefits are available as per prevailing tax laws.
In the Guwahati market, the proposition comes amid growing interest in insurance products that combine protection with longer-term financial planning. The flexibility in policy duration, premium frequency and additional riders could make such products relevant to customers across different income and life stages in Assam.
Aviva Life Insurance CEO and MD Asit Rath said the proposition brings together life protection and a defined return of applicable premiums. Chief Distribution Officer Rajat Srivastava said the product would strengthen the company’s protection portfolio and support wider customer outreach, aligning with the industry vision of “Insurance for All by 2047”.