New Delhi, July 17: New generation life insurer Aviva on Wednesday launched the ‘PensionPlus’ product for the customers of Lakshmi Vilas Bank. The pension product would be made available to the banks through its branches in Andhra Pradesh and Tamil Nadu, an Aviva release said here.
The product is a regular savings pension plan and the minimum annual premium is Rs 6,000.
Lakshmi Vilas Bank, which is one of its bank assurance partners, had already procured life insurance business worth Rs 10 crore. The South India-based bank had sold over 1,200 policies mainly in semi-urban and rural areas.
Aviva Life is a 74:26 joint venture of Dabur Group and UK-based Aviva Plc with assets under management of over 300 billion dollar globally. Bureau Report