Mumbai, Feb 15 (PTI) The Delhi-based Dabur Group-promoted Aviva Life Insurance today launched three productsin educational space, following its findings that educationhas become of the most prominent concerns of young parents.
According to the Aviva Education Insights, a researchprepared by market research agency IMRB International, as manyas 72 per cent of the 2,400 parents surveyed in 11 cities, aresaving for the education of their children. This is animprovement of over 5 percentage points over last their 2009survey when it was 67 per cent.
To address this concern, Aviva launched three products- Young Scholar Secure, Young Scholar Advantage and i-Life.
Young Scholar Secure is an insurance plan on thetraditional platform offering a guaranteed regular cash flowsat important milestones of a child''s education such as higherschool education and graduation expenses.
Young Scholar Advantage, a Ulip, ensures the corpusone planned for the child''s future is available even if one isnot around. i-Life is a term product that promises to be amongthe cheapest in the market, Aviva Life Chief Executive andManaging Director T R Ramachandran told reporters here.
These products will be available for onlinesubscription from the end of this month, he said.
As per the survey, educational expense is the biggestconcern for parents, with as 81 per cent of those surveyedbeing concerned about their children''s education.
The survey was carried out in 11 cities - Delhi,Mumbai, Kolkata, Chennai, Bangalore, Hyderabad, Ahmedabad,Kochi, Chandigarh, Lucknow and Bhubaneshwar.