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‘Aviva Little Master’ launched to fill gap in child plan market

G. Naga Sridhar

Prague, July 3 Master blaster Sachin Tendulkar is all set to play a different ball game – promote the products of Aviva Life Insurance (India) as its new brand ambassador.

“Aviva has 79 per cent brand awareness now and we intended to secure and nurture it further with Sachin batting for our products, Mr Bert Paterson, Managing Director, Aviva India, told reporters at the Aviva International Insurance Summit here on Tuesday.

The company has also launched a new child plan Aviva Little Master, an unit-linked plan designed for parents to secure their child’s future. “Aviva Little Master” is a tribute to our brand ambassador and we are happy to launch a product,” Mr Paterson said.

The contract with Sachin came into force from July 1, and would go “beyond one year”, Mr Vivek Khanna, Director (Aviva India), told Business Line. The company would launch a promotional campaign with Sachin for its prod ucts, he added.

Speaking through video conferencing, Sachin Tendulkar said he was happy to be associated with Aviva.

According to Mr Peterson, the reason behind new child plan was to fill the existing gap in the child plan market. “We have done a thorough research and felt the market needs a comprehensive child plan and we are sure about good business in the segment,” he said while declining to give specific targets for the product.

The new product is available to children between 0-17 years and the parent’s age should be between 18 to 45 years. The minimum annual premium is Rs 15,000 for a 10-year term or above and Rs 25,000 for a policy term less than 10 years.

Three optional riders are also available with this product. These are Accidental Death Benefit rider, a Comprehensive Health Benefit rider and Income Benefit rider. Policy may be surrendered during the policy term and in this case the fund value subject to some surrender charge will be payable.

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