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Aviva Life vs Canara Hsbc Life

Aviva Life

Aviva India Life Insurance Company is a joint venture between Aviva Plc and Dabur Invest Corporation. The company initiated unit-linked and uniform participating plans in India.

Canara Hsbc Life

Canara HSBC Life Insurance company is a joint venture between Canara Bank (51%), HSBC Insurance (Asia Pacific) Holdings Limited (26%), and Punjab National Bank merged with OBC (23%).

COMPANY DETAILS

Aviva Life

Canara Hsbc Life

Rating	Rating 4.6	Rating 4.6
Number of life insurance plans and add-ons	No. of Plans -	No. of Plans -
Annual Premiums Collected (2023-24)	Annual Premiums Collected (2023-24) 1317.45 Cr	Annual Premiums Collected (2023-24) 7197.38 Cr
Payout Options	Payout Options Lump sum, fixed payouts, or a combination of both	Payout Options Lump sum, regular frequencies or a combination of both
Claim ratio	Claim ratio 98.3%	Claim ratio 99.01%
Solvency Ratio	Solvency Ratio 1.8	Solvency Ratio 2.7
Branches	Branches 122+	Branches 100+
Riders Available	Riders Available Accidental Death Benefit Rider, Critical Illness Rider, Waiver of Premium Rider, Disability Income Rider	Riders Available Accidental Death Benefit, Accidental Total & Permanent Disability Premium Protection, Accidental Total & Permanent Disability Premium Protection Plus, Critical Illness Premium Protection, Critical Illness Premium Protection Plus,Terminal Illness B
Policy Term	Policy Term 10 to 40 years	Policy Term 5 to 40 years

Know More About Companies

Overview

Aviva Life Insurance: Overview

Established in 2000, Aviva India Life Insurance Company is a joint venture between Aviva Plc and Dabur Invest Corporation. The company initiated unit-linked and uniform participating plans in India. The company has its headquarters in Gurugram, India. It offers its customers several life insurance products such as term plans, savings plans, child plans, and retirement plans together with group insurance solutions.

The plans offered by Aviva Life Insurance company ensure to meet all of the insurance needs of the policyholder that too at a very reasonable premium rate. With a wide range of plans to select from, Aviva India Life Insurance ensures to insure the policyholder & their family against a variety of situations.

Aviva Life Insurance Company ensures to look after your insurance needs by offering:

Good solvency ratio
High claim support
Wide range of plans

PAN India Presence

Riders

Riders You Can Avail With Aviva Life Insurance Plans

Name of the Riders	Benefits
Accidental Death Benefit Rider	Accidental Death Benefits Rider by Aviva Term Insurance offers extra sum assured to the nominee of the policyholder, in case of death caused by any accident during the rider term.
Critical Illness Rider	n Critical illness rider, sum assured will be given to policyholder in advance if he/she is diagnosed with any of the listed critical illness diseases such as cancer, Kidney failure, heart disease etc.
Waiver of Premium Rider	In waiver of premium rider, the policyholder future premiums will be waived off in case of permanent disability of body caused by any reason. In waiver of premium rider the insurance companies will wait for 6 months to finalize the premium waiver. If the customer is still not able to work , the rider will be triggered.
Disability Income Riders	In a disability income rider, the policy holder will get a regular income, if their body is disabled due to any of the reasons and is not able to work anymore. Disability income rider helps the policyholder to meet their present expenses in case of disability of the body.

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