Aviva India has launched a new life insurance savings plan aimed at helping families in India’s rural and semi-urban belts invest in their children’s future. Aviva Bharat Bal Vikas Yojana, the plan seeks to provide both financial protection and long-term savings for key life goals like education and entrepreneurship.
With premiums starting at ₹1,000 per month, the policy is designed to be accessible to households with modest incomes. It offers guaranteed maturity benefits and a life cover, structured to help parents plan confidently for their children’s development.
Policyholders can choose terms between 12 to 30 years, with entry ages ranging from 3 to 50 years, and a maturity age cap of 80 years. Premiums can be paid in monthly, quarterly, half-yearly, or annual installments—providing much-needed flexibility for diverse income cycles.
In the event of the policyholder’s death, the nominee receives the highest among the assured sum, surrender value, or a minimum of 105% of total premiums paid. Tax benefits are also applicable under current regulations.
Vinit Kapahi, Chief Marketing Officer at Aviva India, emphasized the product’s inclusive intent. “This isn’t just another savings plan. It’s built around the aspirations of real families beyond metros—parents who want to give their children a future but are often excluded from traditional financial planning tools,” he said.
