Why is it MyLifeSavingsPlan?

I think it's simply because it's SAVINGS for a LIFETIME (Till age99 maturity to be exact). Actually if you own this policy you and pass away, it can even be seen as saving for your next generation.

Some background on MyLifeSavingsPlan?

PRUWealth is the first solution of this nature from my memory. Then came Manulife ReadyBuilder Plan. AVIVA may be the third and latest insurer to issue a till age99 endowment plan A.k.a Perpetual Endowment plan. Source

If you've a child on the way or an infant now, how to use MyLifeSavingsPlan to plan for child education costs?

The AVIVA MyLifeSavingsPlan can be tailored to limited premium payment term of 5, 10, 15, 20 or 25 years. If your child is not born and you would like to...