Aviva relaunches 11 ULIPs

NEW DELHI: Aviva Life Insurance on Wednesday relaunched 11 Unit Linked Insurance Products in accordance with new guidelines issued by regulator IRDA.

The products modified by Aviva are -- EasyLife Plus, Freedom LifePlan, LifeBond 5, LifeBond, LifeSaver, LifeLong, LifeBond Plus, PensionPlus, SaveGuard, TreasurePlus and YoungAchiever - the private insurer said in a release.

IRDA had announced new ULIP guidelines in December, 2005, that pertained product features like minimum policy term, lock-in period (3 years) and partial withdrawal among others.

All insurance companies were given six months ending June 30, 2006, to revamp products and operations to meet the guidelines.

Aviva Life Insurance is 74:26 joint venture between Dabur and Aviva plc of UK.