Aviva Life Insurance

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About Aviva Life Insurance Company

Established in the year 2000, Aviva India Life Insurance Company is a joint venture between Aviva Plc and Dabur Invest Corporation. The company initiated unit-linked and uniform participating plans in India. The company has its headquarters in Gurugram, India.

The company offers several life insurance products such as term plans, savings plans, child plans, retirement plans together with group solutions to its customers. Take a look at a few of the awards achieved by Aviva Life Insurance Company:

awards
  • Most Trusted Private Life Insurance Brand of 2019
  • Best Brand of the year, 2019
  • Dream Companies to work for, 2018
  • CIO 100 Award, 2018
  • BFSI Underwriting & Claims Customer Care Initiative of the year, 2018

Key Features of Aviva Life Insurance Company

Choosing an ideal term insurance company can be a hectic and tedious task if you do not know the parameters to look for! There are so many Insurance companies & policies which tend to make the decision maker confused. Hence, we have enlisted few parameters like Claim Settlement Ratio & Solvency Ratio which can help you make an informed decision.

Likewise, while selecting the best life insurance companies, there are few parameters that one should consider before investing in any life plan. Read along to explore all those important factors:

  1. Claim Settlement Ratio

    The Claim Settlement Ratio of the life insurance company helps an individual to understand the claim settling ability of the company.

    For checking the CSR of your shortlisted companies, you can check out the IRDAI Annual Report.

    We are presenting a graphical representation which mentions the Claim Settlement Ratio of Aviva Life Insurance Company from 2016- 2020.

    As per the latest IRDAI Report, CSR of Aviva Life Insurance Company stands at 97.53%.

    Graph Illustration of Aviva Life Insurance Company's CSR from 2016-2020

    Aviva Life Insurance Company's CSR from 2016-2020

    **Data from IRDAI Annual Reports

    To get a clear picture of CSR of top life insurance companies, take a look at the below graph.

    Aviva & other Top Life Insurance Companies based on Claim Settlement Ratio (2019-20)

    Aviva & other Top Life Insurance Companies based on Claim Settlement Ratio (2019-20)

    **Data from IRDAI Annual Reports

  2. Solvency Ratio

    Another important parameter that one should consider before buying a life insurance policy is checking the financial background of the insurance provider. And for this, customers should check the solvency ratio as it helps in measuring the ability of the company to meet its long-term debt obligations. As per IRDAI, all insurance companies in India are obliged to maintain a minimum solvency ratio of 1.5. At present, the solvency ratio of the company is 2.89.

    Solvency Ratio of Aviva Life Insurance Company (2016- 2020)

    Solvency Ratio of Aviva Life Insurance Company (2016- 2020)

    **Data has been sourced from IRDAI's Annual Report

  3. Annual Premium

    The annual premium of an insurance company helps the potential policyholder in identifying the volume of a business and helps them in measuring the preference of other customers. As per the IRDAI report, we have collected the data of Aviva Life Insurance company and have prepared a graph that shows the trend of annual premium over the years 2016- 2020.

    Yearly trend in the annual premium income of Aviva Life

    Yearly trend in the annual premium income of Aviva Life

    **Data has been sourced from IRDAI's Annual Report

Types of Plans Offered By Aviva Life Insurance

The company offers different term plans, savings plans, retirement plans & group plans. Take a look at the below table to explore all the plans available under the company:

Term InsuranceAviva LifeShield Advantage Plan
Aviva Jana Suraksha Plan
Child InsuranceAviva Young Scholar Secure Plan
Savings PlanAviva Affluence Plan
Aviva i-Growth Plan
Aviva Guaranteed Income Plan
Aviva New Family Income Builder Plan
Aviva Income Suraksha Plan
Aviva Dhan Samruddhi Plan
Aviva New Wealth Builder Plan
POS- Aviva Dhan Suraksha Plan
Retirement PlanAviva Annuity Plus Plan
Aviva Next Innings Pension Plan
Group PlansAviva Group Credit Life
Aviva Group Gratuity Advantage
Aviva Group Life Protect
Aviva Group Term Life
Aviva Corporate Life Plus
Aviva Corporate Shield Plus
Aviva Credit Suraksha
Aviva Credit Suraksha
Aviva New Group Leave Encashment Plan
Aviva New Traditional Employee Benefit Plan

Aviva Life Insurance: Claim Settlement Process

Claim Process Aviva Life Insurance

Step 1: 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.

Step 2: 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.

Step 3: 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 to the beneficiary's account.

Aviva Life Insurance: Contact Details

Contact Address

Head 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

Aviva Life Insurance: FAQs

1. Is there any mobile application available for Aviva life insurance plans?

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

2. Is it possible to apply for a duplicate policy for Aviva life insurance plans?

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

3. Will I get funds for my child's admission in the college (for graduation) in my Aviva Young Scholar Secure Plan?

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.

4. May I know whether I will receive any rebates for my Aviva LifeShield Advantage plan?

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

5. How much amount will I get if I select a lump sum payment of my maturity benefit in the Aviva New Family Income Builder plan?

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

6. How much sum assured can I opt for a home loan in the Aviva Group Credit Life plan?

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

7. My son is 22 years old. May I know if he is eligible for the 'Higher Education Reserve' benefit under the Aviva Young Scholar Secure 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.

8. What are maturity boosters in the Aviva Affluence savings plan and how much fund value shall I receive for the same?

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.

9. In 'Annuity Guaranteed for 15 years and for life thereafter' option for my Aviva Annuity Plus retirement plan will I get any annuity payout after completion of 15 years?

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.

Find Out What the Customers Are Saying

(Showing latest 5 reviews only)

- 4.9/5 (14 Total Rating)

October 6, 2021

Nayanika Katyal

Delhi

Great company. Amazing customer support with helpful staff. I am happy that I bought the policy from Aviva. Thanks

September 21, 2021

Bholu Chaudhary

Delhi

Very good company. I am very impressed with Aviva Health Insurance works and their customer care team. Good. Keep it up.

September 20, 2021

Raveena kapoor

Guwahati

I bought life insurance from Aviva Life Insurance and it is a very good company. I am totally satisfied with the services.

August 19, 2021

Devna Sharma

Chennai

Very nice company Aviva is. I am glad that I choose the Aviva Life plan. With several insurance products available, one can buy as per the requirements and needs.

August 19, 2021

Anita Kumari

Kolkata

Very nice company. The team of PolicyX.com helped a lot. Aviva Life Insurance I give you 5 stars myself. Very good. Well done

Last updated on August, 2021

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