Three new products are launched by the private insurer Aviva Life Insurance which includes two unit-linked insurance plans (or as we all call them, ULIPs).
The company says -
"... The two ULIP plans -- Aviva Freedom Life Advantage, Aviva Life Saver Advantage -- offer enhanced value to the customers and meet the new ULIP guidelines".
The third product - Aviva Life Shield Advantage - promises a return on the premium, with optional protection against disease and disability as well.
These products are in accordance with the new IRDA guidelines, as the commission paid to distributors and expenses charged by insurers will not be front-loaded and will be distributed over the lock-in period of the schemes, which has been raised to five years from three years (earlier).
A little about the Company –
Aviva Life Insurance is a joint venture between Dabur Group (74 %) and UK-based Aviva Group (26%).
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