INTRODUCTION

INTRODUCTIONThe Insurance sector in India governed by Insurance Act, 1938, the Life Insurance Corporation Act, 1956 and General Insurance Business (Nationalisation) Act, 1972, Insurance Regulatory and Development Authority (IRDA) Act, 1999 and other related Acts. With such a large population and the untapped market area of this population Insurance happens to be a very big opportunity in India. Today it stands as a business growing at the rate of 15-20 per cent annually. Together with banking services, it adds about 7 per cent to the countrys GDP .In spite of all this growth the statistics of the penetration of the insurance in the country is very poor. Nearly 80% of Indian populations are without Life insurance cover and the Health insurance. This is an indicator that growth potential for the insurance sector is immense in India. It was due to this immense growth that the regulations were introduced in the insurance sector and in continuation Malhotra Committee was constituted by the government in 1993 to examine the various aspects of the industry. The key element of the reform process was Participation of overseas insurance companies with 26% capital. Creating a more efficient and competitive financial system suitable for the requirements of the economy was the main idea behind this reform.Since then the insurance industry has gone through many sea changes .The competition LIC started facing from these companies were threatening to the existence of LIC .since the liberalization of the industry the insurance industry has never looked back and today stand as the one of the most competitive and exploring industry in India. The entry of the private players and the increased use of the new distribution are in the limelight today. The use of new distribution techniques and the IT tools has increased the scope of the industry in the longer run.HISTORY OF INSURANCE SECTORThe business of life insurance in India in its existing form started in India in the year 1818 with the establishment of the Oriental Life Insurance Company in Calcutta. Some of the important milestones in the life insurance business in India are given in the table 1.Table 1: milestones in the life insurance business in IndiaYearMilestones in the life insurance business in India

1912The Indian Life Assurance Companies Act enacted as the first statute to regulate the life insurance business

1928The Indian Insurance Companies Act enacted to enable the government to collect statistical information about both life and non-life insurance businesses

1938Earlier legislation consolidated and amended to by the Insurance Act with the objective of protecting the interests of the insuring public.

1956245 Indian and foreign insurers and provident societies taken over by the central government and nationalised. LIC formed by an Act of Parliament, viz. LIC Act, 1956, with a capital contribution of Rs. 5 crore from the Government of India.

The General insurance business in India, on the other hand, can trace its roots to the Triton Insurance Company Ltd., the first general insurance company established in the year 1850 in Calcutta by the British. Some of the important milestones in the general insurance business in India are given in the table 2. Table 2: milestones in the general insurance business in IndiaYearMilestones in the general insurance business in India

1907The Indian Mercantile Insurance Ltd. set up, the first company to transact all classes of general insurance business

1957General Insurance Council, a wing of the Insurance Association of India, frames a code of conduct for ensuring fair conduct and sound business practices

1968The Insurance Act amended to regulate investments and set minimum solvency margins and the Tariff Advisory Committee set up.

1972The General Insurance Business (Nationalisation) Act, 1972 nationalised the general insurance business in India with effect from 1st January 1973.107 insurers amalgamated and grouped into four companies viz. the National Insurance Company Ltd., the New India Assurance Company Ltd., the Oriental Insurance Company Ltd. and the United India Insurance Company Ltd. GIC incorporated as a company.

Indian Insurance Market History Insurance has a long history in India. Life Insurance in its current form was introduced in 1818 when Oriental Life Insurance Company began its operations in India. General Insurance was however a comparatively late entrant in 1850 when Triton Insurance company set up its base in Kolkata. History of Insurance in India can be broadly bifurcated into three eras: a) Pre Nationalisation b) Nationalisation and c) Post Nationalisation. Life Insurance was the first to be nationalized in 1956. Life Insurance Corporation of India was formed by consolidating the operations of various insurance companies. General Insurance followed suit and was nationalized in 1973. General Insurance Corporation of India was set up as the controlling body with New India, United India, National and Oriental as its subsidiaries. The process of opening up the insurance sector was initiated against the background of Economic Reform process which commenced from 1991. For this purpose Malhotra Committee was formed during this year who submitted their report in 1994 and Insurance Regulatory Development Act (IRDA) was passed in 1999. Resultantly Indian Insurance was opened for private companies and Private Insurance Company effectively started operations from 2001.Insurance Market- Present: The insurance sector was opened up for private participation four years ago. For years now, the private players are active in the liberalized environment. The insurance market have witnessed dynamic changes which includes presence of a fairly large number of insurers both life and non-life segment. Most of the private insurance companies have formed joint venture partnering well recognized foreign players across the globe. There are now 29 insurance companies operating in the Indian market 14 private life insurers, nine private non-life insurers and six public sector companies. With many more joint ventures in the offing, the insurance industry in India today stands at a crossroads as competition intensifies and companies prepare survival strategies in a detariffed scenario.There is pressure from both within the country and outside on the Government to increase the foreign direct investment (FDI) limit from the current 26% to 49%, which would help JV partners to bring in funds for expansion.There are opportunities in the pensions sector where regulations are being framed. Less than 10 % of Indians above the age of 60 receive pensions. The IRDA has issued the first licence for a standalone health company in the country as many more players wait to enter. The health insurance sector has tremendous growth potential, and as it matures and new players enter, product innovation and enhancement will increase. The deepening of the health database over time will also allow players to develop and price products for larger segments of society. LIFE INSURANCE CORPORATION OF INDIA (LIC)

Life Insurance Corporation of India (LIC) was formed in September, 1956 by an Act of Parliament, viz., Life Insurance Corporation Act, 1956, with capital contribution from the Government of India. The then Finance Minister, Shri C.D. Deshmukh, while piloting the bill, outlined the objectives of LIC thus: to conduct the business with the utmost economy, in a spirit of trusteeship; to charge premium no higher than warranted by strict actuarial considerations; to invest the funds for obtaining maximum yield for the policy holders consistent with safety of the capital; to render prompt and efficient service to policy holders, thereby making insurance widely popular.Since nationalisation, LIC has built up a vast network of 2,048 branches, 100 divisions and 7 zonal offices spread over the country. The Life Insurance Corporation of India also transacts business abroad and has offices in Fiji, Mauritius and United Kingdom. LIC is associated with joint ventures abroad in the field of insurance, namely, Ken-India Assurance Company Limited, Nairobi; United Oriental Assurance Company Limited, Kuala Lumpur and Life Insurance Corporation (International) E.C. Bahrain. The Corporation has registered a joint venture company in 26th December, 2000 in Kathmandu, Nepal by the name of Life Insurance Corporation (Nepal) Limited in collaboration with Vishal Group Limited, a local industrial Group. An off-shore company L.I.C. (Mauritius) Off-shore Limited has also been set up in 2001 to tap the African insurance market.Some Areas of Future GrowthLife InsuranceThe traditional life insurance business for the LIC has been a little more than a savings policy. Term life (where the insurance company pays a predetermined amount if the policyholder dies within a given time but it pays nothing if the policyholder does not die) has accounted for less than 2% of the insurance premium of the LIC (Mitra and Nayak, 2001). For the new life insurance companies, term life policies would be the main line of business.Health InsuranceHealth insurance expenditure in India is roughly 6% of GDP, much higher than most other countries with the same level of economic development. Of that, 4.7% is private and the rest is public. What is even more striking is that 4.5% are out of pocket expenditure (Berman, 1996). There has been an almost total failure of the public health care system in India. This creates an opportunity for the new insurance companies.Thus, private insurance companies will be able to sell health insurance to a vast number of families who would like to have health care cover but do not have it.LIC

The Life Insurance Corporation of India (LIC) is the largest state-owned life insurance company in India, and also the country's largest investor. It is fully owned by the Government of India. It also funds close to 24.6% of the Indian Government's expenses. It has assets estimated of

9.31 trillion (US$202.03 billion).[1] It was founded in 1956 with the merger of more than 200 insurance companies and provident societies.

Various Plans offered by LIC are as follows : Endowment Assurance Plans - Currently available products to purchase

1. Jeevan Amrit : This plan is designed for a higher cover at a lower cost. In this plan premium payment is limited to 3 or 4 or 5 years and the premium payable during the first year is higher than the premiums payable in subsequent years.

2. New Janaraksha Plan : Is an Endowment Assurance plan that provides financial protection against death throughout the term of plan. It pays the maturity amount on survival to the end of the term.

3. Jeevan Mitra (Double Cover Endowment Plan) : Is an endowment plan which takes care of the financial needs even if death of the policyholder for the whole term of the plan.

4. Jeevan Mitra (Triple Cover Endowment Plan) : Is an endowment plan where thrice the Sum Assured plus all bonuses on the basic sum assured to date is payable in a lump sum upon the death of the life assured.

5. The Endowment Assurance Policy : This policy has a provisions for the family of the Life Assured in event of his early death and also assures a lump sum at a desired age.

6. The Endowment Assurance Policy-Limited Payment : In this policy the payment of premium can be limited either to a single payment or to a term shorter than the policy.

Endowment Plus - Currently available products to purchase

1. Endowment Plus - This is a unit linked Endowment plan which offers investment cum insurance cover during the term of the policy. You can choose the level of insurance cover within the limits, which will depend on the mode and level of premium you agree to pay.

Children Plans - Currently available products to purchase

1. Jeevan Anurag : Is plan designed for the children educational requirements . This plan can be taken on the parents life. The basic sum assured is given immediately on the death of the life assured during the term of the policy.

2. Jeevan Kishore : Is a plan which can be availed by the parent or grand parents of the children. It is an endowment assurance plan for children of less than 12 years of age.

3. Jeevan Chhaya : It is a plan where financial protection is given against death during the term of the plan. It is an Endowment Assurance plan. Besides this benefit one-fourth of Sum Assured is payable at the end of each of last four years of policy term irrespective if the life assured dies or survives the duration of the policy.

4. Komal Jeevan : Is a Money Back Plan which can be bought by the parent or grand parent for their child from the age of 0-10years. This plan gives financial protection against death during the duration of the plan with periodic payments on survival at specified durations.

5. Child Future Plan : A policy where the future needs like education, marriage and other requirements are taken care of. This plan provides a benefit which not only takes care of the risk cover of the child during the policy but also after 7 years of the policy being expired.

6. Child Career Plan : A plan to meet the educational and other needs of the child. It provides the risk cover on the life of child during the policy term as well as 7 years after the policy has expired. There are also Survival benefits given to the life assured at the end of a specific duration.

8. Children's Deferred Endowment (CDA) vesting at 21 : This is an Endowment Assurance plan designed to enable a parent , legal guardian or any near relative of the child to provide insurance cover on the life of the child (called life assured).

9. CDA Endowment vesting at 18 : This is an Endowment Assurance plan designed to enable a parent , legal guardian or any near relative of the child to provide insurance cover on the life of the child (called life assured).

Children Plans - Old products not available for fresh purchase

1. Child Fortune Plan: Is a unit linked plan which offers long term capital appreciation.

2. Marriage Endowment or Educational Annuity Plan: This is an Endowment Assurance plan that provides benefits on or from the selected maturity date to meet the Marriage/Educational expenses of the named child.

Money Back Plan - Currently available products to purchase

1. Bima Bachat : Is a money-back policy which offers financial security and assurance to the policy holder and his family. The policy holder has to pay only one premium.

2. Money Back-20 years : Is an endowment plan where periodic payments of partial survival benefits are paid during the term of the policy till the policy holder is alive.As the policy name goes this plan 20% of the sum assured is payable after 5,10,15 years and the balance 40% accrued bonus is payable at the 20th year.

3. Money Back 25 years : Is the same as the above plan only in this plan the 40% accrued bonus is payable at the 25th year

4. Jeevan Surabhi 15 / 20 / 25 : Is a money back plan with a difference. The maturity term is more than premium paying term and the plan also offers early and high rate of survival benefits. The following are the actual term and premium paying term for the plans:-

15 years policy term premium paying is 12 years20 years policy term premium paying is 15 years25years policy term - premium paying is 18years

Early and higher rate of survival benefit payment.

Risk cover increases every five years.

The actual term and the premium paying term for these plans are as under.

Special Money Back Plan for Women - Currently available products to purchase

Jeevan Bharathi - I : Is a plan designed only for women.Its a plan taking into the needs of a women and also has profit benefits.It also has benefits like Accident Benefit, Critical Illness Benefit and Congenital Disability Benefit as optional Riders

Term Assurance Plans - Currently available products to purchase

1. Anmol Jeevan - I : Is a term plan where on death of the policy holder sum assured is given to family or nominated person.

2. Amulya Jeevan - I : In case of unfortunate death of the policy holder during the term of the policy, sum assured is payable, provided the policy is kept in force.

3. Two Year Temporary Assurance Policy : In this policy the individual is covered for a tenure of maxium 2 years.

4. The Convertible Term Assurance Policy : In this plan helps the policyholder to get a cover of a whole life or endowment policy till he is unable to make a higher premium amount initially but will pay later.

Whole Life Plans - Currently available products to purchase

1. Jeevan Anand : Is a combination of two plans- Endowment Assurance and Whole Life plan.

2. Jeevan Tarang : This is a with-profits whole of life plan which provides for annual survival benefit at a rate of 5 % of the Sum Assured after the chosen Accumulation Period.

3. The Whole Life Policy : Is a plan mainly to provide for payment of sum assured plus bonuses on the death of the policyholder.

4. The Whole Life Policy-Limited Payment : In this plan the life assured has to pay all the premiums during the productive years of life. He need not pay any premium in the later stages of life if and when his conditions might become difficult.

5. The Whole Life Policy- Single Premium : Is the same as the above policy besides that the policy does not cease to participate in profits after completion of the period for which premium has been paid ,but continue to share in the periodical Bonus Distribution until the death of the Life Assured.

Plans for high worth individuals - Currently available products to purchase

1. Jeevan Shree - I : This plan gives you a choice of premium paying terms.

2. Jeevan Pramukh : Is an Endowment Assurance plan offering the choice of three premium paying terms.

Plans for handicapped Dependents - Currently available products to purchase

1. Jeevan Adhar : The benefits under the plan are for the handicapped dependant which are partly in lump sum and partly in the form of an annuity.

2. Jeevan Vishwas : Is an Endowment Assurance plan designed for the benefit of handicapped dependents.

Joint life plan - Currently available products to purchase

Jeevan Saathi : Is an endowment assurance plan fro husband and wife jointly.

2. Jeevan Saathi Plus - This is an Endowment Assurance Plan issued on the lives of husband and wife. The plan provides financial protection against death of both the lives.

Pension plans - Currently available products to purchase

1. New Jeevan Dhara - I : is a Deferred Annuity plans that allows the policyholder to make provision for regular income after the selected term.

2. New Jeevan Suraksha - I : Is a deferred annuity plan.

3. Jeevan Nidhi : Is a deferred annuity plan with profits.

4. Jeevan Akshay - VI : By paying a lump sum amount this immediate annuity plan can be bought.

5. Pension Plus It is a unit linked deferred pension plan, which provides you a minimum guarantee on the gross premiums paid. The plan is without any life cover.

Unit Plans - Old products not available for fresh purchase

1. Child Fortune Plus : Is a plan for children and to meet their educational needs. Its a unit linked plan with long term capital appreciation.

2. Fortune Plus : It is a unit linked assurance plan where premium payment term (PPT) is 5 years and the premium payable in the first year will be 50% of total premium payable under the policy.

3. Market Plus : Is a unit linked pension plan where after a specific period the pension is paid.

4. Money Plus - I : Is a unit linked Endowment plan which has investment plus insurance during the term and you can pay regular premiums.

5. Profit Plus : It is a unit linked Endowment plan where the premium payment term (PPT) is limited to single lump sum, or uniformly over 3, 4 or 5 years.

Golden Jubliee Plan - Currently available products to purchase

New Bima Gold : Where the premiums are paid back during the policy term in installments , besides that life insurance cover is given during the also at the extended term of the plan.

Special Plans - Currently available products to purchase

1.Bima Nivesh 20052.Jeevan Sara3.Jeevan madhur

Health Plan - Currently available products to purchase

1. Health Protection Plus - A unique long term health insurance plan that can combine health insurance covers for the entire family (husband, wife and the children) Hospital Cash Benefit (HCB) and Major Surgical Benefit (MSB) along with a ULIP component (investment in the form of Units) that is specifically designed to meet Domiciliary Treatment Benefit (DTB) / Out Patient Department (OPD) expenses for the insured members.

2. LIC Jeevan Arogya A unique non-linked Health Insurance plan which provides health insurance cover against certain specified health risks and provides you with timely support in case of medical emergencies and helps you and your family remain financially independent in difficult times.

LOCATIONS :-

LIC Term Plans:-

Anmoljeevan- I

The convertible Assurance policy

Two year temporary Assurance policy

Amulyajeevan- IAnmol jeevan- I :- Anmol Jeevan is the most sold Plan in Term Plan, have a look at its features & benefits:

BenefitsSurvival Benefits: There are no Survival BenefitsDeath Benefit: Before the Policy expires the sum assured is paid to the life insured in the event of death.

EligibilityAge at entry: Minimum and maximum age at entry are 18 yrs respectively & 55 yrs

Age at maturity: Your maximum age at maturity should be 65 yrsTerm (benefit period): Minimum & maximum term are 5 yrs & 25 yrs respectivelyCoverage Amount (Sum Assured): The minimum & maximum sum assured are Rs.5, 00,000 & Rs. 3, 00, 00,000 respectivelyMode of Premium payment: You can opt for Yearly, Half- Yearly and Single premiumLoan option: No loan will be granted under this plan.

The convertible Assurance policy :- This Term Plan gives you an option of converting the policy into endowment assurance or limited payment whole life assurance. It is designed to meet the needs of those who are initially unable to pay the larger premium required for a Whole Life or Endowment Assurance Policy, but hope to be able to pay for such a policy in the near future.

BenefitsSurvival Benefits:There are no Survival BenefitsDeath Benefit: The life insured gets the death benefit of an amount total sum assured.

EligibilityAge at entry: The maximum & minimum age at entry is 20 yrs & 50 yrs respectively.Coverage Amount: The minimum & maximum Sum Assured is 50,000 & 1,00,00,000 respectivelyTerm: You can take the minimum term of 5 yrs & maximum term of 7 yrsMode of Payment: You can opt for Yearly, Half-yearly, Quarterly, Monthly, and Salary Saving Scheme.Loan: You cant take a loan against this plan

Two year temporary Assurance policy :-This Term Plan covers the individuals who require the risk cover for very short period, those people who go for tours for a year or so.Features:- This is the Term Plan which covers an individual who requires risk cover for a maximum of two years.- Single Premium is paid to cover in the entire period.- No loan will be granted against the Two Year Temporary Assurance policy.

BenefitsSurvival Benefits: There are no survival benefitsDeath Benefit: The life insured gets the death benefit of an amount total sum assured

EligibilityAge at entry: The maximum & minimum age at entry is 18 yrs & 60 yrs respectively.Coverage Amount: The minimum & maximum Sum Assured is 50,000 & 1, 00,000 respectivelyTerm: You can take the Term of 6,12,18,24 monthsMode of Payment: The plan has single premium paying process

Amulya jeevan:-

Benefits : -Death Benefit: Before the Policy expires the sum assured is paid to the life insured in the event of death.Maturity Benefit: Nil

EligibilityAge at entry: Minimum and maximum age at entry are 18 yrs respectively & 60 yrsAge at maturity: Your maximum age at maturity should be 70 yrsTerm (benefit period): Minimum & maximum term is 5 yrs & 35 yrs respectivelyCoverage Amount (Sum Assured): The minimum sum assured is Rs.5, 00,000 & there is no upper limit.Mode of Premium payment: You can opt for Yearly, Half- Yearly and Single premiumLoan: No loan will be available under this plan.

HISTORY OF AVIVAAviva is UKs largest and the worlds fifth largest insurance Group. It is one of the leading providers of life and pensions products to Europe and has substantial businesses elsewhere around the world. With a history dating back to 1696, Aviva has a 40 million-customer base worldwide. It has more than 377 billion of assets under management. In India, Aviva has a long history dating back to 1834. At the time of nationalization it was the largest foreign insurer in India in terms of the compensation paid by the Government of India. Aviva was also the first foreign insurance company in India to set

up its representative office in 1995.

In India, Aviva has a joint venture with Dabur, one of India's oldest, and largest Group of companies. A professionally managed company, Dabur is the country's leading producer of traditional health care products. In accordance with the government regulations Aviva holds a 26 per cent stake in the joint venture and the Dabur group holds the balance 74 per cent share.

Aviva has 176 Branches in India (including rural branches) supporting its distribution network. Through its Bancassurance partner locations, Aviva products are available

in close to 500 towns and cities across India

Aviva is also keen to reach out to the underprivileged that have not had access to insurance so far. Through its association with Basix (a micro financial institution) and other NGOs, it has been able to reach the weaker sections of the society and provide life insurance to them.

Aviva has been felicitated with the "Bronze Award for Excellence in People Management" by Grow Talent Company Limited and Businessworld. This honour is given to Aviva based on the ranks received in top 25 list of the Great Place to Work India studies conducted in the last four years. Aviva was ranked 12th in 2003, 14th in 2004 and 13th in the year 2005.Its products include:1. Whole life (LifeLong and Aviva LifeLine),2. Endowment (LifeSaver, EasyLife Plus, LifeSaver Plus),3. Child policy (Aviva Little Master)4. Single premium (LifeBond and LifeBond Plus),5. Pension (PensionPlus and Secure Pension),6. Term (LifeShield),7. Fixed term protection plan (Freedom LifePlan),8. Health product (Aviva Health Plus),9. Traditional endowment plans (Dhan Vriddhi, Aviva Moneyback

AVIVAs Vision Aviva - where exceeding expectations through innovative solutions is "our" way of life This is the compelling vision that Aviva India has created through the active contribution of its employees. These lines not only define the way they live and work but also serve as a reminder to deliver the best to their customers, shareholders, colleagues, partners & employees at all times.

Embedded in this vision are the core values of Integrity, Customer centricity, Passion for winning, Innovation and Empowered team that they have collectively defined and committed to working towards.

Various Plans offered by AVIVA are as follows :1. Aviva DhanVriddhi : Is a plan where you will get periodic returns on your money invested as well as a Life Insurance cover.

2. Aviva Money Back : A money back endowment policy, which has with profits and guaranteed benefits.

3. AVIVA Freedom Life Advantage It allows you to choose the proportion of savings and protection and change it subsequently, in line with your changing needs, with the option to pay premiums for as few as 5 years.

4. AVIVA Life Saver Advantage It is a savings plan that offers disciplined saving with high level of financial security for the family, in case something untoward happens.

5. AVIVA Life Bond Advantage It is a Single Premium unit linked insurance plan that offers you an opportunity to invest a lump sum for medium to long term together with Life Cover and flexibility to access your money after 5 years.

6. Aviva Dhan Varsha It is a traditional investment cum protection plan that provides you Guaranteed Addition of 6% to 9% of the sum assured along with life protection.

7. Aviva Sachin Extra Cover Advantage It is a hassle-free savings plan that gives you a high life cover without undergoing any medical examination by signing a self-declaration of good health.

Saving Products - Old products not available for fresh purchase

1. Aviva Sachin Century : Is a unit linked where you get 100% allocation of premiums; hence you get 100% returns on your money invested.

2. Aviva Easy Life Plus : Is a unit linked endowment plan. Which will also offer you a life protection policy. You can choose between any 3 investment fund options.

3. Aviva Wealth Plus : Is an investment plus insurance unit linked plan. You get to choose among 4 investment fund options to invest your money.

4. Freedom Life Plan : Is a unit linked limited premium paying endowment plan. In this plan you get an option of choosing from 5 different investment funds.

5. LifeBond 5 : Is a fixed term investment plus insurance plan. In this plan you have to make payments for premium only for 3 or 5years.

6. LifeSaver : Is a unit linked endowment plan. This plan offers 3 different investment fund options to choose from.

7. LifeSaver Plus : Is a unit linked endowment plan. This plan offers sum assured and death benefits.

8. LifeSaver Super : A unit linked endowment plan which has flexibility and also offers a high life insurance cover.

9. SaveGuard : Is a unit linked endowment plan which helps to save for your future needs. It has 5 investment fund options to choose from.

10. Anmol Suraksha: Is a fixed Term Plan with a protection cover and savings benefits.

Protection Products - Currently available products to purchase

1. AVIVA Life Shield: Is a pure term plan where your family is protected in an unforeseen event of the policyholder.

2. Aviva Life Shield Plus : Is a term policy where the family gets a comprehensive protection in an unfortunate situation of the policy holder.

3. AVIVA Life Shield Advantage It is comprehensive protection for your family incase you are not around. Additionally, all the money paid as premium will be returned to you on survival at the end of the Policy Term through.

4. Aviva Life Shield Platinum A versatile high protection plan to secure your loved ones.

5. Aviva i-Life - A pure life insurance cover for your loved ones at a very nominal cost. To offer you convenience at your fingertips, you can buy this term plan online to save the time and effort that would have been otherwise required.

Single Premium - Old products not available for fresh purchase

1. LifeBond Plus : A unit linked , non participating , single premium endowment plan. This plan gives you investment and tax benefits.

Child Products - Currently available products to purchase

1. AVIVA Young Scholar Advantage : It is a comprehensive plan that enables you to secure your childs future in any eventuality.

2. Aviva Young Scholar Secure An Insurance plan to secure important milestones of your child's education.

Child Products - Old products not available for fresh purchase

1. Aviva Young Scholar : Is a unit linked endowment plan which caters to the future needs of your child. This plan helps you save for their further educational requirements.

2. Aviva Little Master : Is a comprehensive unit linked endowment plan which offers a life insurance cover for the child as well as the parent.

Pension Products - Currently available products to purchase.

1. AVIVA Secure Pension: Is an endowment type traditional plan. In this plan you save now and post retirement it provides you with pension.

2. AVIVA Pension Builder - Aviva Pension Builder with guaranteed maturity benefit and increasing death benefit to support your family in any unfortunate turn of event.

Pension Products - Old products not available for fresh purchase.

1. Pension Plus : Is a unit linked Pension Plan which has 4 different investment funds to opt from. It provides you with income at the time when your regular income stops.

2. Aviva Pension Elite : Is a flexible investment unit linked pension plan.

Health Products - Currently available products to purchase.

1. Aviva Health Plus : It is a savings plan that provides a cover on life, accidents, critical illnesses, disabilities, surgery and hospitalization

Whole Life Products - Old products not available for fresh purchase.

1. Life Long : Is a unit linked plan which gives you a choice of investing in any 6 different investment fund options.

2. Life Line : Is a whole life unit linked plan, with investment and Insurance Benefits . As the name suggest its a plan which covers you for your entire life.

Group Products - Currently available products to purchase.

1.GroupGratuity 2.CorporateLife3.AVIVACorporateLifePlus4.AVIVACorporateShieldPlus5. AVIVA Credit Suraksha

Group Plans -Old products not available for fresh purchase

1.LoanSuraksha2.Superannuation 3.Group Shield

Rural Products - Currently available products to purchase

1.AmarSuraksha 2.JanaSuraksha 3.CreditPlus4.CreditNet5.AVIVAGrameenSuraksha 6. AVIVA Anmol Suraksha

Locations :-

EAST 27 WEST- 29 NORTH 26 SOUTH 21AVIVA Term PlansAVIVA Term Plans:-

Aviva life shield platinum

Aviva life shield

Aviva life shield plus

Aviva life shield advantage

Aviva LifeShield Platinum :-Overview

At Aviva we are constantly innovating because we believe that each one of us is different and so is our expectation from our life insurance plan. Presenting Aviva Life Shield PlatinumTM, a unique protection plan to help you plan for your family in case you are not around.

Option A Life ProtectionChoose this option if you foresee a need for lump sum payment of large sum of money to your family in case you are not around. You can opt for additional health and Accidental Death Benefit rider. We offer differential rates for Smokers, Non-smokers and preferred rates for (Healthy) Non-smokers.The special rates for non-smokers is subject to Cotinine test, which is available in select cities.

Option B Income ReplacementChoose this option if you want to provide a regular monthly income to your family in your absence. This amount increases by 5% p.a. compounded annually from the very first year of your policy to beat inflation. Your premium obligation is limited to about 2/3rd of the policy term.

Option C Loan Protection. Choose this option to cover for higher financial liabilities and family responsibilities in the early years of your life, the Life Cover decreases evenly across the policy term. Your premium obligation is limited to about 2/3rd of the policy term.This Insurance plan offers rebate on your premium for higher levels of Sum Assured.

Aviva life shield :-

Overview

Aviva LifeShield provides low cost protection to your family through:

Guaranteed payment of lump sum to the nominee in case of death of the life

insured within the policy term.

Preferred rates to the customers opting for higher sum assured and to the Aviva PensionPlus Policyholders

Flexibility of increasing the sum assured on life stage events like marriage and birth

Aviva life shield plus:-

Overview

Aviva LifeShield plus provides comprehensive protection for your family at a nominal cost through:

Payment of Life Cover (Sum Assured) to your family in the event of your death, with a provision of double the Life Cover in the case of an accidental death.

Immediate payment of the Life Cover in the case of critical illness or permanent total disability, while life cover continues till the policy term

Most competitive rates

Aviva life shield advantage:-

Overview

Aviva LifeShield Advantage provides comprehensive protection for your family incase you are not around. Additionally, all the money paid as premium will be returned to you on survival at the end of the Policy Term through:

Payment of Life Cover (Sum Assured) to your family in the event of your death (Option A)

Additional protection against Accidental Permanent Total Disability (Option B)

Return of the money paid towards the base premium on your survival at the end of the policy term

Additional protection against Permanent Total Disability (PTD) and 18 Critical Illness covered by the Aviva Dread Disease (DD) Rider (available with Option A regular premium mode)

A rebate on your premium for higher levels of Sum Assured