Aviva launches 9 unit-linked plans, introduces thematic funds

NEW DELHI: Private sector insurer Aviva Life Insurance launched nine unit-linked plans on Wednesday.

The products are in line with the recent IRDA guidelines on cap on charges and come with enhanced features and higher internal rate of return (IRRs), Aviva said.

These ULIPs are available with 14 new fund options covering savings, retirement, protection and investment needs of all customers, it said.

Besides, the company has also introduced thematic funds - infrastructure fund and PSU Fund across select products.

Aviva India CEO T R Ramachandran said the new products are another positive step towards making ULIPs even more transparent and favourable for customers.

In compliance with the requirements of the IRDA circular, all unit-linked products launched by Aviva Life Insurance will have a standard charge structure not exceeding 3 per cent for ULIPs upto 10 year term and 2.25 per cent for ULIPs over 10 year term, he said.