India-based Aviva Life Insurance has launched three new life insurance products - Freedom Life Advantage, Life Saver Advantage and Life Shield Advantage.

Both the Freedom Life Advantage and Life Saver Advantage products are unit-linked insurance plans (ULIPs), which will meet new ULIP guidelines.

Aviva Life Shield Advantage is a term plan which will offer a return on the premium, with optional protection against disease and disability.

Aviva Life Insurance is a joint venture between India’s Dabur Group and UK-based Aviva Group, where Dabur Group holds 74% of stake, while Aviva Group holds 26% of the stake.