 Hyderabad: Aviva Life Insurance, the joint venture between Dabur and Aviva Plc, launched its pure term insurance policy - LifeShield - here. The company says LifeShield guarantees a lump sum amount in the unfortunate event of the death of the life insured during the term of the policy. However, according to the company, a key feature of the policy is the offering of preferred rates to Aviva's PensionPlus policyholders. While PensionPlus provides financial security to the policyholder post-retirement, LifeShield offers financial security to the family members in the event of the death of the individual during his working life. "Hence, a combination of LifeShield and PensionPlus is an ideal investment combining savings post-retirement and protection in the eventuality of death," says the company. The LifeShield policy offers a minimum sum insured of Rs 5 lakh, while there is no limit to the maximum sum insured. The policy can be purchased for any life between 18 and 55 years and for a term of five years to 40 years.
The policyholders of LifeShield are eligible for tax rebate under Section 88 of the Income Tax Act.
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