Aviva Life Insurance launches online health plan – Aviva Health Secure

Aviva Health Secure launched – Strengthens Online Protection Product Suite

–      Adds to the growing portfolio of Protection & Online products offered by Aviva

–      Provides lump sum amount in case of diagnosis of certain critical illness and procedures

–      Covers as many as 12 critical illnesses at starting premium of just Rs.2000

–      Tax benefits are available under section 80D under Income Tax Act, 1961

Mumbai, June 4, 2012:  Aviva Life Insurance today announced the launch of its online health plan – Aviva Health Secure. The plan provides the policyholder with a lump sum amount on diagnoses of any critical illness covered by the policy thereby ensuring that the family has adequate funds to meet the unplanned medical expenses and get the best possible treatment. Available exclusively on the online platform, Aviva Health Secure can be bought for a nominal premium starting Rs 2000 per year from www.avivaindia.com. While the minimum sum assured is Rs 5 lakh, the maximum is Rs 50 lakh. The plan can be bought by a person from 18 years to 55 years of age for a minimum policy term of 10 years and a maximum term of 30 years.

Mr. TR Ramachandran, CEO& MD, Aviva India said, “These days, people have become vulnerable to critical illnesses at an early age due to lifestyle and stress. Hence, health insurance is critical keeping in mind the rising medical costs. It is estimated that the total healthcare expenses in India will rise to USD 425 billion by 2016. Even now 79% of Indians fund their own medical expenses compared to 17% in the UK”.

He added, “Our latest offering, Aviva Health Secure is a competitively priced plan and designed to help people cover their medical expenses in case of critical illness and get the best possible treatment. Online distribution is a growing channel and we’ve seen significant success with our term plan Aviva i-life which is the most competitively priced product in the market. With the launch of this product we hope to further strengthen our online proposition and reinforce Aviva’s strong protection suite of products”

The 12 critical illnesses covered by the plan are heart attack, stroke, cancer, end stage kidney failure, major organ transplant, coronary artery bypass surgery, benign brain tumor, heart valve surgery, motor neurone disease, multiple sclerosis, coma and paraplegia.  Unlike the health insurance product offered by the non-life companies which are indemnity based, Aviva Health Secure offers the policyholder a lump sum based on the Sum Assured for each of the illnesses irrespective of the hospital bills.

One can claim at the first diagnoses of any critical illness provided the critical illness has been diagnosed after 90 days of the policy commencement date or the date of reinstatement.

Key features of Aviva Health Secure:

• Critical Illness Benefit: You get a lump sum amount in case you are diagnosed with any of the 12 major critical illnesses as listed ahead.

• Convenience: You can buy this plan online to save the time and effort that would have been otherwise required.

• Tax Benefit: Premiums paid towards this policy may be eligible for tax benefits as per Section 80D of Income Tax Act 1961. Tax laws are subject to change.

• This is a pure health insurance product and hence nothing is payable in case of death, surrender or maturity under this product.

• Exclusively available on the internet for an online purchase – www.avivaindia.com

• There is a rebate if you opt for a Sum Assured of Rs 10 lakhs and above.