Aviva Life Insurance
Aviva Life Insurance
PX step

Free Quotes From Top Companies

1

2

Phone No.
Name
D.O.B

1

2

Income
City

By proceeding you are accepting our T&C and privacy policy

Aviva Life Insurance

Aviva India Life Insurance Company was established in the year 2000. It is a joint venture between Aviva Group and Dabur Invest Corporation. Aviva Life takes pride in proclaiming to be one of the foremost companies in India to initiate unit-linked and uniform participating plans. The company is headquartered in Gurugram, India. It has a collaboration with DBS Bank (as their chief partner), which is one of the leading banks in India. Several life insurance products such as term plans, savings plans, child plans, retirement plans together with group solutions are provided by the company to its customers.

Highlights

Claim Settlement Ratio

96.06%

No. of Financial Planning Advisors

15,000+

No. of Customers

33 Million

**Last Updated on 08-09-2020

 Aviva Life Insurance Plans

1. Aviva Child Plan

Aviva Child Plan is a blend of insurance and investment that assists the policyholder in securing the future of his/her child. The plan offers life insurance coverage along with providing financial protection to the child (even in the absence of the parents).

The following child plan is offered by Aviva Life Insurance:

i) Aviva Young Scholar Secure Plan

Aviva Young Scholar Secure Plan is a traditional life insurance plan that offers financial protection to cover important milestones of the child's education. The plan waives off all future premiums in the event of the death of the insured parent. It also provides tax exemptions on premiums paid and benefits received under Section 80C and Section 10(10D) of the Income Tax Act, 1961.

Eligibility Criteria:

Age at Entry (last birthday)

For Parent:

  • Minimum: 21 years
  • Maximum: 50 years

For Child:

  • Minimum: 0 year
  • Maximum: 12 years

Premium Payment Frequency

Yearly, half-yearly and monthly (via ECS only)

Policy term

21 minus age at entry of the child

Riders Available

Aviva Term Plus rider

**Last Updated on 08-09-2020

2. Aviva Term Plans

Term plans offered by Aviva Life takes care of all the financial requirements of the family in case of the demise of the life assured. The plans provide coverage at affordable rates such as cover against death due to an accident, disability cover, etc.

The different Aviva life insurance term plans are mentioned below:

i) Aviva LifeShield Advantage Plan

Aviva LifeShield Advantage Plan is a comprehensive protection plan that safeguards the family members against financial crisis due to the unfortunate death of the policyholder. The plan offers a return of premiums if the life assured survives the end of the policy tenure. Also, the policy provides additional safety in the event of accidental permanent total disability of the insured person.

Eligibility Criteria:

Age at Entry (last birthday)

Minimum: 18 years

Maximum: 55 years

Maximum Age at Maturity 

65 years

Minimum Sum Assured

Rs. 35 lakhs

Policy Term

10 to 30 years

**Last Updated on 08-09-2020

ii) Aviva Jana Suraksha Plan

Aviva Jana Suraksha Plan is a term insurance policy that pays out a guaranteed lump sum amount to the dependents or children on the death of the policyholder during the policy term. It offers double life coverage benefit in case the life assured dies due to an accident.

Eligibility Criteria:

Age at Entry (last birthday)

Minimum: 18 years

Maximum: 45 years

Premium Payment Frequency

Single, annually, half-yearly, quarterly or monthly

Premium Payment Term

Single premium or equal to the policy term

Policy Term

5 or 10 years, subject to the maximum maturity age of 50 or 55 years respectively

**Last Updated on 08-09-2020

3. Aviva Savings Plans

Aviva Savings life insurance plans are a combination of investment along with life insurance coverage to deal with uncertainties of life. It allows the policyholder to develop a habit of savings that comes out with returns on investment and be prepared to face unexpected future events. With the help of these plans, one can create a huge corpus and plan accordingly to meet various financial goals.

Let us look at the following savings plans offered by Aviva Life Insurance:

i) Aviva Affluence Plan

Aviva Affluence Plan is a unit-linked plan that helps you achieve long-term milestones of life like education of your child, buying a home or planning for retirement life. You need to pay for a limited premium payment term to stay invested and get huge returns under the plan. It also offers 7 investment fund options to choose from as per your requirements.

Eligibility Criteria:

Age at Entry (last birthday)

Minimum: 2 years

Maximum: 50 years

Age at Maturity 

Minimum: 18 years

Maximum: 70 years

Minimum Sum Assured

Rs. 10 lakhs

Premium Payment Frequency 

Yearly only

**Last Updated on 08-09-2020

The values may change as per the chosen plan option

ii) Aviva i-Growth Plan

Aviva i-Growth Plan is a non-participating unit-linked individual savings plan that assures guaranteed returns on investment in addition to life insurance protection for you as well as your family. As per your risk appetite, you can switch between 3 fund options provided under the plan. It also offers partial withdrawals (after completion of 5 successful policy years) to meet unexpected future expenditure.

Eligibility Criteria:

Age at Entry (last birthday)

Minimum: 18 years

Maximum: 50 years

Maximum Age at Maturity 

60 years

Minimum Annualized Premium

For Policy Term = 10 years: Rs. 66,000

For Policy Term = 15 years: Rs. 60,000

For Policy Term = 20 years: Rs. 48,000

Maximum Sum Assured

18-40 years last birthday: Rs. 50 lakhs

41-50 years last birthday: Rs. 30 lakhs

Policy Term

10/15/20 years

**Last Updated on 08-09-2020

iii) Aviva Guaranteed Income Plan

Aviva Guaranteed Income Plan is a combination of savings and life insurance plan, which provides guaranteed income through 11 periodic payouts for over 10 years. The plan offers maturity benefit together with an additional guaranteed terminal benefit, i.e., periodic payouts will be payable to the family even after the demise of the policyholder.

Eligibility Criteria:

Age at Entry (last birthday)

Minimum: 3 years

Maximum: 50 years

Age at Maturity 

Minimum: 18 years

Maximum: 65 years

Minimum Annualized Premium

Entry Age 3 to 45 years: Rs. 50,000

Entry Age 46 to 50 years: Rs. 75,000

Sum Assured

Minimum: Rs. 10,10,000 (minimum annualized premium of Rs. 50,000 X 20.2)


Maximum: Rs. 20,20,00,000 per life (maximum annualized premium of Rs. 1 crore X 20.2)

Payout Period

10 years from maturity i.e. 15th to 25th year

**Last Updated on 08-09-2020

iv) Aviva New Family Income Builder Plan

Aviva New Family Income Builder Plan is traditional life insurance in addition to savings oriented plan that protects you and your family financially with the help of guaranteed returns by a way of regular payouts for 12 years. The policy also provides maturity and death benefits. In case of death of the life assured, the payouts will be passed onto the family.

Eligibility Criteria:

Age at Entry (last birthday)

Minimum: 6 years

Maximum: 50 years

Age at Maturity 

Minimum:18 years

Maximum: 62 years

Minimum Annualized Premium

Minimum: Rs. 40,000

Maximum: Rs. 1 crore (per life)

Sum Assured

Minimum: Rs. 9,60,000 (minimum annualized premium of Rs. 40,000 X 24)


Maximum: Rs. 24 crores per life (maximum annualized premium of Rs.1 crore X 24)

subject to board approved underwriting policy

Premium Payment Frequency

Annual Only

**Last Updated on 08-09-2020

v) Aviva Income Suraksha Plan

Aviva Income Suraksha Plan is a savings cum life insurance plan that offers regular monthly payouts by guaranteeing returns on your investments to meet financial goals in the future.

Eligibility Criteria:

Age at Entry (last birthday)

Minimum: 18 years

Maximum: 48 years

Age at Maturity (last birthday)

Minimum: 28 years

Maximum: 65 years

Minimum Premium

  • Entry Age 18 to 40 years: Rs. 36,000 per annum or Rs.3,000 per month
  • Entry Age 41 to 48 years: Rs. 60,000 per annum or Rs.5,000 per month

[Taxes if any will be charged separately]

Minimum Sum Assured

  • Entry Age 18 – 40 years: Rs. 6,84,000
  • Entry Age 41 – 48 years: Rs. 11,40,000

Premium Payment Frequency

Annual and Monthly only

**Last Updated on 08-09-2020

vi) Aviva Dhan Samruddhi Plan

Aviva Dhan Samruddhi Plan is a traditional life insurance plan that offers guaranteed money back in every 5 years interval, together with guaranteed maturity benefit to fulfil your long-term financial requirements of life. The policy provides a guaranteed bonus of up to 9% of the annualized premium per annum (based on the chosen policy tenure). This benefit is paid on the maturation of the policy.

Eligibility Criteria:

Age at Entry (last birthday)

Minimum: 13 years

Maximum: 55 years

Age at Maturity (last birthday)

Minimum: 23 years

Maximum: 70 years

Minimum Annualized Premium

  • For Policy Term 10 years: Rs. 35,692
  • For Policy Term 15 years: Rs. 19,599
  • For Policy Term 20 years: Rs. 17,130

Sum Assured

  • For Policy Term 10 years: Rs. 4 lakhs
  • For Policy Term 15 years: Rs. 2,65,000
  • For Policy Term 20 years: Rs. 2,65,000

Premium Payment Frequency

Annually, half-yearly, quarterly or monthly

**Last Updated on 08-09-2020

vii) Aviva Wealth Builder Plan

Aviva Wealth Builder Plan is a traditional savings plus life insurance policy, which doubles the total amount of paid premiums and is liable to pay guaranteed returns at the maturity date. It allows the life assured to choose from 3 policy term options according to his/her needs.

Eligibility Criteria:

Age at Entry (last birthday)

Minimum: 5 years

Maximum: 50 years

Age at Maturity (last birthday)

Minimum: 18 years

Maximum: 63 years (Single Premium); 67 years (Regular Premium)

Maximum Premium (per Life)

Rs. 1 crore

Sum Assured

  • For Single PPT-

Minimum: Rs. 3,00,150

Maximum: Rs. 2,00,25,000


  • For 5 years PPT-

Minimum: Rs. 7,50,562.50

Maximum: Rs. 10,01,50,000


  • For 10 years PPT-

Minimum: Rs. 10,01,750

Maximum: Rs. 20,05,00,000

Premium Payment Frequency

Single or Annual

**Last Updated on 08-09-2020

The values may change as per the chosen plan option

viii) POS Aviva Dhan Suraksha Plan

POS Aviva Dhan Suraksha Plan is a non-participating and non-linked savings plan that offers regular payouts to fulfil your short-term life goals. The plan pays a lump sum benefit at the end of the policy tenure.

Eligibility Criteria:

Age at Entry (last birthday)

Minimum: 18 years

Maximum: 50 years

Age at Maturity 

61 years

Annualized Premium

Minimum: Rs. 10,000

Maximum: Rs. 68,500

Sum Assured

Minimum: Rs. 1.45 lakhs

Maximum: Rs. 9,93,250 (per life)

**Last Updated on 08-09-2020

The values may change as per the chosen plan option

4. Aviva Retirement Plans

With Aviva Retirement Plans, the life assured can enjoy financial freedom after retirement. It allows the policyholder to maintain a good lifestyle by giving back the accumulated amount as pension or annuity at regular intervals as per your choice. The retirement plans offer guaranteed advantages along with the benefit of life insurance coverage.

Aviva Life Insurance offers the following retirement policies to its customers:

i) Aviva Annuity Plus Plan

Aviva Annuity Plus Plan is a non-linked and non-participating immediate annuity plan that provides lifetime income during your retirement years. It offers 7 annuity choices to match your financial needs. The plan also provides flexibility to choose the purchase price at the time of commencement of the policy to receive higher annuity instalments.

Eligibility Criteria:

Age at Entry (last birthday)

Minimum: 18 years

Maximum: 80 years

Purchase Price 

Minimum: Rs. 25,000

Maximum: No Limit

Annuity Installment

Minimum Rs. 500 for any of the annuity frequency chosen

Annuity Frequency

Yearly, half-yearly, quarterly, monthly

**Last Updated on 08-09-2020

The values may change as per the chosen plan option

ii) Aviva Next Innings Pension Plan

Aviva Next Innings Pension Plan is a traditional life insurance policy, which guarantees regular earnings post-retirement life. The plan pays 210% of all paid premiums on the maturation date of the policy.

Eligibility Criteria:

Age at Entry (last birthday)

Minimum: 42 years

Maximum: 60 years

Age at Maturity (last birthday)

Minimum: 55 years

Maximum: 78 years

Minimum Annualized Premium

Single: Rs. 1.5 lakhs

Limited: Rs. 50,000 per annum

Premium Payment Frequency

Single, annual, half-yearly and monthly

Policy Term 

13/16/18 years

**Last Updated on 08-09-2020

5. Aviva Group Plans

Aviva Group Life Insurance Plans are provided to the employees or group members of an organisation by their employers. These plans offer life insurance coverage to the employees based on their annual income. It also offers flexibility to choose and change the sum assured amount from time to time as per requirements.

Now, let us check out the range of group plans offered by Aviva life insurance:

i) Aviva Group Credit Life Plan

Aviva Group Credit Life Plan provides financial security against the loan liabilities to the family of the borrower in the event of the death of the borrower. The plan offers single pay and limited premium payment variants as per the requirements. It offers a death benefit along with accidental total permanent disability benefit and can be also purchased on a joint life basis.

Eligibility Criteria:

Age at Entry (last birthday)

Minimum:

  • 15 years for education loan;
  • 18 years last birthday for other loan types

Maximum: 70 years last birthday

Note: Age will be computed for each life in case of joint life cover

Age at Maturity

  • For Single Premium

Minimum: 17 years for Education Loan; 20 years for other loan types

  • For Limited Premium

Minimum: 23 years for Education Loan; 26 years for other loan types


Maximum: 75 years (last birthday)

Sum Assured

Minimum: Rs. 5,000

Maximum: Rs. 10 Crores for Home Loan; Rs. 5 Crores for other loan types

Premium Payment Term

Single-Premium & Limited Premium for 5 years only

**Last Updated on 08-09-2020

ii) Aviva Group Gratuity Advantage Plan

Aviva Group Gratuity Advantage Plan is a unit-linked group life insurance plan that has been specially designed for the corporate sector. The plan can be customized according to the requirements of the individual and offers benefits beyond legal liabilities. The policy offers several unit-linked investment funds to make investments as per your needs.

Eligibility Criteria:

Age at Entry (last birthday)

Minimum: 18 years

Maximum: 74 years

Minimum Sum Assured

Rs. 1,000 per employee

Maximum Sum Assured

Rs. 1 Crore per employee

Minimum Group Size

10

**Last Updated on 08-09-2020

iii) Aviva Group Life Protect Plan

Aviva Group Life Protect is a one-time premium payment group term life insurance product that is designed for customers of banks, financial institutions, credit societies, and cooperative banks providing loans. It financially protects these institutions against loans like a car loan, home loan, education loan, personal loan, etc. The policy provides coverage to recurring deposit and credit cardholders, where the sum assured is decided by the employer.

Eligibility Criteria:

Age at Entry (last birthday)

Minimum: 18 years

Maximum: 69 years

Type of Sum Assured offered

Reducing, Flat

Minimum Sum Assured

Rs. 1,000 (per member)

Maximum Sum Assured

No limit

Minimum Group Size

50

**Last Updated on 08-09-2020

iv) Aviva Group Term Life Plan

Aviva Group Term Life Plan is a non-linked and non-participating group term insurance plan, which offers life insurance cover to the employees (inclusive of schemes in lieu of Employees Deposit Linked Insurance Scheme). The employee can cover his/her spouse under the plan by paying additional premiums. It also offers maturity and surrender benefits and is available for non-employer-employee groups.

Eligibility Criteria:

Age at Entry (last birthday)

Minimum: 18 years

Maximum: 69 years for Employer-Employee Schemes &

59 years for Non-Employer-Employee Schemes

Age at Maturity

70 years for Employer-Employee Schemes &

60 years for Non-Employer-Employee Schemes

Minimum Sum Assured

Rs. 5,000 (Per Member)

Rs. 20 lakhs (Per Scheme)

Policy Term

One Year (Renewable)

**Last Updated on 08-09-2020

v) Aviva New Group Leave Encashment Plan

It is a unit-linked and affordable premium policy for employers. Aviva New Group Leave Encashment Plan is a way to provide leave encashment liabilities to all the employees of an organisation under a single plan. The plan provides the employees with an option to switch between various investment fund options at their convenience.

Eligibility Criteria:

Age at Entry (last birthday)

Minimum: 18 years

Maximum: 70 years

Minimum contribution

Rs. 1 lakh at inception

Sum Assured

Rs. 1,000 per employee (fixed)

Funds available

7 Funds options

Minimum Group Size

10 members per group

**Last Updated on 08-09-2020

vi) Aviva Corporate Life Plus Plan

Aviva Corporate Life Plus Plan is a group term insurance product, which offers life insurance coverage for the employees and members of an organisation. It provides financial protection to the families of employees. It offers additional security against death and permanent disability.

Eligibility Criteria:

Age at Entry (last birthday)

Minimum: 18 years

Maximum: 69 years

Minimum Sum Assured

Rs.10,000/employee and Rs. 1 crore/scheme

Premium Payment Term

Equal to the policy term

Premium Payment Frequency

Annually, half-yearly, quarterly or monthly

Minimum Group Size

50 members

**Last Updated on 08-09-2020

vii) Aviva Corporate Shield Plus Plan

Aviva Corporate Shield Plus Plan is a group term insurance policy, which offers advantages as per the employee deposit linked insurance (EDLI). The plan facilitates the financial loss of the dependents that arises due to the unfortunate death of the life assured. It offers security without undergoing any medical tests along with minimal formalities.

Eligibility Criteria:

Age at Entry (last birthday)

Minimum: 18 years

Maximum: 74 years

Sum Assured

Minimum: Rs. 3.6 lakhs

Maximum: 10 lakhs

Mode of Payment

Yearly/half-yearly/quarterly/monthly

Policy Term

One Year (Renewable)

**Last Updated on 08-09-2020

viii) Aviva Credit Assure Plan

Aviva Credit Assure Plan, a group insurance plan that safeguards the family of an employee against financial contingencies after the death of the insured employee. The plan is primarily for non-employer-employee groups.

Eligibility Criteria:

Age at Entry (last birthday)

Minimum: 18 years

Maximum: 69 years

Age at Maturity

70 years

Sum Assured

Minimum: Rs. 5,000 (Per Member)


Maximum: Rs. 10 lakhs (Per Member)

Minimum Group Size

50

Policy Term

One Year (Renewable)

**Last Updated on 08-09-2020

ix) Aviva Credit Suraksha Plan

Aviva Credit Suraksha Plan is a comprehensive plan that offers financial protection to the members of unorganized groups and their families. It also provides optional life coverage to the spouse of the insured member.

Eligibility Criteria:

Age at Entry (last birthday)

Minimum: 18 years

Maximum: 64 years

Maximum Sum Assured

Rs. 1 lakh (Per Member) &

Rs. 20 lakhs (Per Scheme)

Premium Payment Frequency

Annually, half-yearly, quarterly or monthly

Minimum Group Size

100

Policy Term

One Year (Renewable)

**Last Updated on 08-09-2020

x) Aviva New Traditional Employee Benefit Plan

Aviva New Traditional Employee Benefit Plan is a non-participating and non-linked variable group insurance plan, which primarily targets the employer-employee benefit. The fund management liabilities of the employer such as retirement or death of their employees, Gratuity, Leave Encashment on resignation, etc. are administered by this policy.

Eligibility Criteria:

Age at Entry (last birthday)

Minimum: 18 years

Maximum: 74 years

Sum Assured

Sum assured is fixed Rs. 1,000 per employee

Minimum Contribution at Scheme Level

Rs. 1 lakh at inception

Mode of Payment

Yearly/half-yearly/quarterly

Minimum Group Size

10

**Last Updated on 08-09-2020

Why Choose Aviva Life Insurance Plans?

Offers Financial Security:

Aviva life insurance policies are designed in such a way that can easily help you achieve financial goals by making savings like arranging funds for child education, retirement corpus, home loan, personal loan, etc. without thinking for the funds after death. The plans also help you to deal with the outstanding debts that can be a burden for your family in your absence.

  • Get Tax Benefits

Under Section 80C of the Income Tax Act, 1961, the premium paid for Aviva life insurance is eligible for the deduction, and also the death benefit or maturity is exempted from tax under Section 10(10D).

Why PolicyX.com Is The Best Platform To Buy Aviva Life Insurance Plans?

PolicyX.com is certified by the Insurance Regulatory and Development Authority of India (IRDAI). The company provides the following features to its customers:

  • It offers free online comparison quotes of various insurance providers, which helps you to go with the right plan for your needs.
  • With the help of PolicyX.com, you can simply purchase a suitable plan (as per your requirements) within 15 minutes.
  • The quotes provided by PolicyX.com are unbiased, making it a trustworthy and persistent organisation.
  • The customer care support team of PolicyX.com is always there to guide you at every step. You are free to ask and contact them for any questions or doubts related to an insurance policy.

Aviva Life Insurance: Claim Settlement Process

Claim Intimation:

The beneficiary has to inform the company about the incident. This can be done via call, mail, message or by physically visiting the nearest branch of the insurance company.

Arrange Documents:

Based on the type of claim, the beneficiary has to attach the relevant documents such as the death certificate, doctor's certificate, ID proof, address proof, etc. asked by the insurer in original or photocopies. The photocopies should be attested by a Gazetted Government Officer.

Claim Settlement:

On receiving the documents, the insurer will proceed with the verification process and may contact the beneficiary in the event of any clarification. If all the documents are in place, then the claim will be settled in favour of the beneficiary and the amount shall be transferred within 15 working days from the date of submission of the claim form.

Aviva Life Insurance: Contact Details

Contact Address:

Registered Office: Aviva India, 2nd Floor, Prakashdeep Building, 7 Tolstoy Marg, New Delhi, 110030, Delhi, India.

Corporate Office: Aviva Tower, Sector Road, Opposite Golf Course, DLF Phase-V, Sector-43, Gurgaon- 122003 Haryana, India.

Customer Support:

Phone: 1800 103 7766 (Toll-free); 0124-2709046

E-mail: customerservices@avivaindia.com

For any escalations: complaints@avivaindia.com

You can also contact Aviva Life by filing a 'Contact Us Form' given at their official website.

Aviva Life Insurance: FAQs

Yes, a mobile application for Aviva life insurance plans is available. It's called 'Aviva Life Insurance'.

Yes, it is possible to apply for a duplicate policy for Aviva life insurance plans. This service is only available if you have lost or not received your policy documents.

Follow the below steps to request for a duplicate policy:

  • Visit the official website of Aviva Life Insurance Company and download the request form.
  • Fill the form with an appropriate reason for the application and submit to the nearest branch of Aviva life insurance.
  • Documents required for the application are ID proof like aadhaar card, PAN card, passport size photograph.
  • The company will charge an issuance fee of Rs. 250. Submit a cheque or draft in favour of Aviva Life Insurance Ltd.

Your request will be processed and you receive the duplicate policy within 10 days of application

Yes, you will get 'College Admission Fund (CAF)', a lump sum amount at the time of your child's admission in the college after your child attains an age of 18 years.

Yes, you will receive rebates on paid premiums on choosing a higher level of sum assured amount under Aviva LifeShield Advantage plan.

You will get a lump sum payment of 6 times the annual premium after the payout period ends.

The maximum sum assured is Rs. 10 crores for a home loan in Aviva Group Credit Life plan.

Yes, your son is eligible for the 'Higher Education Reserve' benefit of Aviva Young Scholar Secure plan. It is available after your child has turned 21 years of age.

On surviving until the maturity date of the policy in the Aviva Affluence savings plan, you will be rewarded with maturity booster additions. You will receive 0.60% to 0.80 % of the fund value based on the premium payment term.

Yes, you will continue receiving your annuity payout until survival after completion of the annuity guaranteed period of 15 years in Aviva Annuity Plus retirement plan.

Last updated on 08-09-2020