#Virukipolicy | T&C*
Aviva Dhan Nirman is a conventional savings plan with promises a stream of incomes along with a specified bonus rate when the term of the policy comes to an end. After the plan gets matured, the sum assured can be 5 to 6 times of the annual premium depending upon the tenure of the plan.
The guaranteed incomes provided by the insurer can be of great help to the policyholders to fulfill their financial needs of them being a great support to their responsibility towards family. This policy also tends to offer a good discount rate on the higher sum assured so that policyholders can receive full protection at a compelling yet affordable rate.
|Entry age||50 years||4 years|
|Maturity age||75 years||28 years|
|Policy term||18,21,25 and 30 years|
|Minimum sum assured||1 crore||2 lakhs|
|Premium paying frequency||monthly, quarterly, half-yearly and yearly|
|Premium payment term||14, 15, 16 or 18 years|
Aviva Dhan Nirman Plan is an investment and savings plan with a compelling reversionary bonus facility which can be a great addition to the income for any financial needs of the policyholders. This can be a good option in the list of plans to be availed because of its potential to expand the wealth safely while providing protection for the individual as well as his family as well.
However, being the policyholder one may change the mode of premium payment at any anniversary of policy with a fee of ₹100. The simple reversionary bonus is provided after all the premium is paid and can be defined as a percentage of the sum assured. Both bonuses (reversionary and terminal bonuses) are paid on maturity of the policy or death.
In case the policyholder dies due to suicide within 12 months, then
Assume if you are 30 and pay a premium of Rs. 88,040 per annum including the taxes for the next 15 years then you get 1,32,060 every year. This will continue for the next 6 years which means the next 6 year’s income would be Rs.7,92,360. When you turn 51 you can get an additional income of RS 16,55,780 which is 8% investment return or else 4% which can count to Rs.9,54,380.
The premium of Aviva Dhan Nirman Plan can surely be a favorable option for middle-class people to add a financial backup in terms of income even after their retirement. However, availing this plan as earlier as possible is good as the maturity period and the terms of premium paid should be maximum to get good returns.
From the date of receipt, you can review the terms and conditions of the policy within 15 days. On Cancellation during the free look period, the company will refund the premium paid by you after deduction of some service charges and stamp duty, etc.
Yes, you have the option to change the premium frequency during the premium paying term at any anniversary. A fee of Rs.100 will be charged for changing it.
Yes, Tax benefits As per Section 80C and section 10 (10D) of the Income tax Act. 1961 can be acquired with Aviva Dhan Nirman Plan.
This plan allows a minimum grace period of one month for the quarterly, half-yearly and yearly premiums while the monthly payments allow 15 days of the grace period.
No, loans against this policy are not available or offered by Aviva, but the benefits of this plan will be quite worthy of your investment in it.
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Last updated on 13-01-2020