Aviva Life Insurance Company

Aviva Life Insurance India is a private insurance company formed from a collaboration between the Aviva insurance group of UK and the Dabur group, one of India's oldest and top producer of traditional health care products . Aviva's products are meant to provide customers flexibility, transparency and value for money.

History -

Aviva insurance group in UK with a history dating back to 1696, today stands as one of the leading provider of life and pension products to Europe and other parts of the world. The history of Aviva Life Insurance India starts at 1834 during nationalization when Aviva was the largest foreign insurance group in terms of the compensation paid by the Indian Government. In 1995 Aviva was the first foreign insurance company to start its representative office in India. At present in Aviva Life Insurance India, the Aviva group is a 26% share holder and the Dabur group holds 74% shares in the joint venture.

Programme highlights of today -

• Aviva Life Insurance India has 40 Branches in India, including rural branches supporting its distribution network. With over 27,000 Financial Planning Advisers (FPAs) and the Financial Health Check (FHC) programme it has been successful in setting up its position in the Indian market. The FHC is a free service administered by the FPAs which analyses the customer's long-term savings and insurance needs and depending on the life stage and earnings of the customer it selects the proper insurance product for them.
• Aviva Life Insurance India initiated the concept of Bancassurance in India and at present it has Bancassurance tie-ups with ABN Amro Bank, American Express Bank, Canara Bank, Centurion Bank of Punjab, The Lakshmi Vilas Bank Ltd. and Punjab & Sind Bank, 11 Co-operative Banks in Gujarat, Rajasthan, Jammu & Kashmir, Bihar, West Bengal, Andhra Pradesh and Maharashtra and one regional Bank in Sikkim. This has helped to distribute Aviva products in nearly 378 towns and cities across India.
• Aviva Life Insurance India offers more modern Unit Linked and Unitized With Profit money products to the customers. Following the IRDA guidelines, with effect from 1 July 2006, these unit - linked products have been modified. The products of Aviva insurance group of India are:
• LifeLong
• LifeSaver or EasyLife Plus
• Young Achiever
• LifeBond and LifeBond Plus
• PensionPlus
• LifeShield
• Freedom LifePlan
• LifeBond5
• The fund management operations of Aviva Life Insurance India is controlled from Mumbai and the fund options includes Unitized With-Profits Fund and four Unit Linked funds:
• Protector Fund - The fund comprises of debt securities in the range of 60-100%, equities in the range of 0-20% and money market and cash in the range of 0-20%.
• Secure Fund - The fund comprises of debt securities in the range of 50-100%, equities in the range of 0-20% and money market and cash in the range of 0-20%.
• Balanced Fund - The fund comprises of debt securities in the range of 50-90%, equities in the range of 0-45% and money market and cash in the range of 0-10%.
• Growth Fund - The fund will comprise of debt securities in the range of 0-50%, equities in the range of 0-85% and money market and cash in the range of 0-20%.

These fund provides investment security to the capital of the customers.

Through their association with Basix (a micro financial institution) and other NGOs, Aviva Life Insurance India have been able to reach out to those underprivileged who had no access to insurances till day.

In Aviva Life Insurance India , thus , by combining protection and long term savings the customers can safeguard and provide life products for their family with their changing needs.