Aviva Life Insurance

Aviva Life Insurance

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Aviva Life Insurance Company

Aviva India is an Indian life insurance company, and a joint venture between Aviva Group, a British assurance company, and Dabur Group, an Indian conglomerate.

AVIVA Group-A UK based insurance group, whose association with India dates back to 1834 and serves 33 million customers across 16 countries.

Dabur Invest Corp-One of India’s oldest and most respected business houses and the largest producers of traditional healthcare products.

Aviva Life Insurance Company deals in several products such as term plans, endowment plans, child policy, single premium plans, and many more.

Life insurance is a way to secure your different needs in a disciplined manner. It is a legal agreement and the terms of the contract explain the restrictions of the insured events. The policyholder pays a premium regularly or in a lump sum. Other expenses (such as funeral expenses) can also be included in the settlement.

Life insurance is a contract between the life insurance company and the insured under which the insurer promises to pay the sum assured which is a predefined benefit that you will receive in case of any emergency of requirement as per the policy’s document. Under the same, the insured person has to pay a decided amount which is also popular as a premium to the insurer to continue its policy.

If we talk in simple terms then, if you purchase a life insurance plan, the insurer promises to pay a pre-decided amount in a case where it is required that’s is your unfortunate death. Under the same, the company would be liable to pay an amount to the beneficiary as per stated in the document. In return, you have to pay a pre-decided amount on a regular basis, which is known as premium till the date of your death during the policy tenure.

Why Is Life Insurance Needed?

There are several reasons through which you will understand the need of having a life insurance plan. Here is the list of most common reasons :

Offers financial security

A life insurance policy promises to pay a definite sum in the case where the life assured falls prey to premature death. This is an important plan for those who are breadwinners for their families. With the help of this effective plan, in the unfortunate demise of the breadwinner, the family can easily deal with the financial crises by completing the claim proceedings. There is no doubt in saying that the emotional loss is irreplaceable, no one can replace the same, still, the plan offers the much required financial assistance which can solve several problems of your family.

Helps in achieving financial goals

The plan is designed in a way that can easily help you in achieving financial goals. So, whatever is your goal like arranging funds for child education, retirement corpus, to save your home loan and the personal loan in the case of untimely demise or just want to create wealth only, you will easily find a life insurance that can go well with your needs.

We all think of accepting different measures to attain our set financial goals and make a lot of savings for it as well. Such plans play an important role in ensuring future goals when the breadwinner is not around to take care.

Life insurance builds the habit of savings

You must be aware of the fact that for attaining financial goals, you need to make savings. Life insurance helps in building the habit of saving as under the same you have to pay a regular premium to continue your policy. Even you can pay your premium, on the monthly, quarterly or yearly basis as well.

Aviva Life Insurance Plans

Child insurance plans

There is no doubt that we all have multiple goals in life that we wish to fulfill asap. But undoubtedly, the biggest goal for all after becoming parents is to ensure a bright and successful future for children. At this moment, you understand that you need to be sensible with your financial planning and cater to your child’s future needs with an effective child insurance plan.

Aviva Dhan Nirman

A unique traditional participating life insurance plan that gives you a guaranteed regular stream of income and also a bonus at the end of your policy term.

Features
  1. Guaranteed annual payouts to meet regular income needs equal to 150% of annual premium (excluding Goods & Services Tax and extra premium, if any) starting immediately after the end of premium payment term.
  2. Growth to your savings through simple reversionary bonus every year starting at the end of first year
  3. Guaranteed lump sum payout at maturity along with the vested simple reversionary bonuses and terminal bonus, if any, to meet your long term needs.
  4. Comprehensive financial protection for your family depending on your choice of Sum Assured
  5. Premium rebate on choosing a Sum Assured of Rs. 5 Lac and above.
Eligibility
Entry Age Minimum: 4 years last birthday
Maximum: 50 years last birthday
Maturity Age 75 years
Premium Payment Term (PPT) and Policy Term (PT)
PT (in years) PPT (in years)
18 14
21 15
25 16
30 18
Aviva Dhan Samruddhi

A traditional life Insurance Plan that gives guaranteed cash back every 5 years in addition to guaranteed maturity benefit, to meet your short and long-term needs

Features
  1. Guaranteed returns: Your policy earns a Guaranteed Addition of 7% per annum to 9% per annum of the Annualized Premium (excluding taxes and any other extra premium), depending upon the policy term chosen by you,till the end of the policy term which is payable at maturity.
  2. Liquidity: Your policy pays back 125% of the Annualized Premium (excluding taxes and any other extra premium) as Survival Benefit every 5 years (except at maturity)
  3. Guaranteed Maturity Benefit: At maturity, you get the Sum Assured plus accrued Guaranteed Additions minus Survival Benefits already paid. 
  4. Rebate for high Sum Assured: Rebate on basic premium is allowed if your Sum Assured is Rs. 5 Lacs or higher.
Eligibility
Entry Age Minimum: 13 years last birthday
Maximum: 55 years last birthday
Maturity Age 23 to 70 years
Policy Term (PT) 10, 15 or 20 years, subject to maximum maturity age
Aviva Life Bond Advantage

Offers you an opportunity to invest a lump sum for medium to long-term together with Life Cover and flexibility to access your money after 5 years.

Features
  1. Death Benefit:
    • In the unfortunate event of your death, Life Cover or the value of units pertaining to single premium, whichever is higher, is payable along with accumulate Loyalty additions (if any )
    • Life Cover or the Fund Value pertaining to top-up premium, whichever is higher, shall also be payable
  2. Loyalty Additions:
    • You are eligible for Loyalty additions if you stay invested for more than 10 years. The addition will be 4% of Fund Value pertaining to Single Premium at the end of 10th policy year and 2% on every subsequent 10th policy year till the end of the Policy Term.
Eligibility
Entry Age Minimum: 13 years last birthday
Maximum: 55 years last birthday
Maturity Age 23 to 70 years
Policy Term (PT) 10, 15 or 20 years, subject to maximum maturity age
Aviva Wealth Builder

A traditional life insurance plan that doubles the total amount of premiums paid and returns it as a lump sum at maturity, guaranteed.

Features
  1. Doubles your money for defined milestones
  2. Guaranteed protection for your family in case of your death
  3.  
  4. Flexibility in choosing premium payment and policy terms
  5. Tax Benefits at the time of investment as well as maturity, for regular premium policies
Eligibility
Entry Age Minimum: 5 years last birthday
Maximum: 50 years last birthday
Maturity Age Minimum: 18 years
Maximum 63 years Single Premium: 67 years (Regular Premium)
Premium Payment Term (PPT) and Policy Term (PT)
PT (in years) PPT (in years)
13 Single Premium
15 5
17 10
Aviva Young Scholar Advantage

A unit linked insurance plan to help secure your child's education. In case of death, all future premium will be waived paid as a lump sum in the policy fund. Moreover, your family will get a lump sum to meet the immediate financial need.

Features
  1. No liability to pay future premium, in case of death of parent
  2. Guaranteed loyalty additions to enhance your fund value
  3. Option to choose Policy Term to let you decide your key milestone
  4. Choice of 7 (seven) funds for investors with different risk appetites
  5. Flexibility to make Partial Withdrawals to meet unplanned expenses
  6. Systematic Transfer Plan and Automatic Asset Allocation mechanism to protect your investments against market volatility
Eligibility
Entry age (last birthday) Parent (life insured) : 21 - 45 Years
Child (Nominee (Beneficiary)) : 0 – 17 Years
Policy Term (PT) 10 - 25 years, subject to maximum maturity age of 60 years.
Premium Payment Term (PPT) Equal to the policy term
Annual premium Minimum: Rs 50,000
Maximum: No limit subject to underwriting.
Aviva Young Scholar Secure

A traditional life insurance plan to secure important milestones of your child's education. It provides guaranteed money back. There are four options with different premium bands.

Features
  1. Premium payment term: For entry age 0-8 years of child – 13 minus age of child, For entry age 9-12 years of child: Fixed 5 years
  2. Annual Premium: Silver – Rs 25,000; Gold– Rs 50,000; Diamond – Rs 100,000; Platinum (5 options) – Rs 200,000/400,000/600,000/800,000 or 10,00,000
  3. * Taxes including but not limited to Goods & Services Tax, Cesses as applicable shall also be levied as notified by the Government from time to time. Tax laws are subject to change.
  4. Sum Assured: Death Sum Assured is equal to Higher of {ten times of the annual premium (excluding extra premium, rider premium and taxes, if any) or Maturity Sum Assured or 105% of the premiums paid (excluding extra premium, rider premium and taxes, if any)
Eligibility

Maturity Sum Assured will depend on the age of the Life Insured, Policy term and Plan Option.

Entry Age Parent: 21-50 years and
Child: 0-12 years (last birthday)
Policy term 21 minus age at entry of the child
Premium Payment Frequency Yearly, Half-yearly and Monthly
Aviva iGrowth

A unit linked insurance plan that not only makes your money work harder but also provides comprehensive protection for you and your family.

Features
  1. The total effect of charges on your policy could be as low as 1% (excluding mortality)
  2. Option to choose and switch between 3 funds , as per your risk taking appetite
  3. Option to chose between 3 policy terms (10,15 & 20years), aligning to your financial goals
  4. Flexibility to meet unexpected expenses through partial withdrawals after 5 years.
  5. Option to take Life insurance cover equal to 10 or 20 times of the annual premium, as per your protection need
  6. Family gets additional benefit in case of death of Life Insured due to an accident
Eligibility
Minimum Entry Age 18 years (last birthday)
Maximum Entry Age 50 years (last birthday)
Maximum Maturity Age 60 years (last birthday)
Policy Term 10, 15 or 20 Years (subject to maximum maturity age)
Premium Payment Term Same as Policy Term
Aviva New Family Income Builder

A saving cum protection oriented traditional life insurance plan that assists you financially by guaranteeing returns in the form of regular payouts for 12 years.

Maturity Benefit:

In case the life insured survives till the end of the Policy Term and provided all due premiums have been paid; the Maturity Sum Assured will be paid in the following manner:

  1. 12 annual instalments of “1.5 times the annual premium” (excluding taxes and extra premium, if any) shall be paid at the end of each year during the Payout Period.
  2. A lumpsum amount of “6 times the annual premium” (excluding taxes and extra premium, if any) shall be paid at the end of the Payout Period

An additional Guaranteed Terminal Benefit, depending upon age at entry, is paid at the end of the Premium Payment Term.

In case of unfortunate death of the Life Insured while receiving the regular income, the outstanding regular payouts shall be paid to the nominee/beneficiary.

Death Benefit:

In case of death of the life insured during the policy term provided all due premiums till date of death have been paid, the Death Sum Assured payable shall be highest of the following amounts:

  1. 10 times of the annualized premium, or
  2. 105% of all the premiums paid (excluding taxes and extra premiums, if any) as on date of death, or
  3. Maturity Sum Assured
  4. Sum Assured of the Policy; the Sum Assured will be paid in the following manner:
Eligibility
Entry Age 6 to 50 years last birthday
Maturity Age 18 to 62 years last birthday
Policy Term 12 years
Payout Period 12 years after maturity i.e. 13th to 24th year
Aviva Dhan Vriddhi Plus

A traditional participating life insurance plan that helps you save systematically and build a corpus. Return of premiums plus bonus at maturity.

Features
  1. On maturity, get 100% return of premiums paid as guaranteed benefit  along with accrued bonus, if any  to meet your long term needs
  2. Ensure financial security of your loved ones in case of any exigencies
  3. Chose between a premium payment term of 5, 7 or 11 years basis amount of money you require on maturity
Eligibility
Minimum Entry Age (last birthday) 18 years
Maximum Entry Age (last birthday) 50 years
Maturity Age (last birthday) 70 years
Premium Payment Term (PPT) 5 years, 7 years & 11 years
Policy Term (PT) Policy Term (PT)
Aviva Affluence

A Unit Linked insurance plan which helps you live to the fullest & demand the maximum out of your finances.

Features
  1. Pick your policy term to match your long term goals
  2. Choose to pay premiums as per your convenience for 5, 7, 10, 15 years or for the entire policy tenure
  3. Opt from 7 funds and invest in the fund or combination of funds, that best suits your risk profile
  4. Elect to enter the equity market on a weekly or monthly manner through Systematic Transfer Plan
Eligibility
Entry Age (last birthday) Minimum: 2 years
Maximum: 50 years
Policy Term 15 to 30 years, subject to minimum & maximum maturity age
Premium Payment Term (PPT) and P
PT (in years) PPT (in years)
18 14
21 15
25 16
30 18
Saving plans

Saving plans are life insurance products designed to support disciplined savings and at the same time ensure steady returns throughout the policy term which can be payable as monthly income or lump-sum depending on your need and chosen plan.

Aviva Dhan Nirman

A unique traditional participating life insurance plan that gives you a guaranteed regular stream of income and also a bonus at the end of your policy term. Minimum age is 4 years and the maximum age is 50 years.

Features
  1. Guaranteed annual payouts to meet regular income needs equal to 150% of annual premium (excluding Goods & Services Tax and extra premium, if any) starting immediately after the end of premium payment term.
  2. Growth to your savings through simple reversionary bonus every year starting at the end of first year
  3. Guaranteed lump sum payout at maturity along with the vested simple reversionary bonuses and terminal bonus, if any, to meet your long term needs.
  4. Comprehensive financial protection for your family depending on your choice of Sum Assured
  5. Premium rebate on choosing a Sum Assured of Rs. 5 Lac and above.
Eligibility
Entry Age Minimum: 4 years last birthday
Maximum: 50 years last birthday
Maturity Age 75 years
Sum Assured Minimum: Rs. 200,000
Maximum: Rs. 1 crore (per life)
Annual Premium Rs. 14,486 (exclusive of Goods & Services Tax and extra premium, if any)
Premium Payment Term (PPT) and Policy Term (PT)
PT (in years) PPT (in years)
18 14
21 15
25 16
30 18
Aviva Dhan Samruddhi

A traditional life Insurance Plan that gives guaranteed cash back every 5 years in addition to guaranteed maturity benefit, to meet your short and long-term needs.

Features
  1. Guaranteed returns: Your policy earns a Guaranteed Addition of 7% per annum to 9% per annum of the Annualized Premium (excluding taxes and any other extra premium), depending upon the policy term chosen by you,till the end of the policy term which is payable at maturity.
  2. Liquidity: Your policy pays back 125% of the Annualized Premium (excluding taxes and any other extra premium) as Survival Benefit every 5 years (except at maturity)
  3. Guaranteed Maturity Benefit: At maturity, you get the Sum Assured plus accrued Guaranteed Additions minus Survival Benefits already paid. 
  4. Rebate for high Sum Assured: Rebate on basic premium is allowed if your Sum Assured is Rs. 5 Lacs or higher. 
Eligibility
Entry Age Minimum: 13 years last birthday
Maximum: 55 years last birthday
Maturity Age 23 to 70 years
Policy Term 10, 15 or 20 years, subject to maximum maturity age
Premium Payment Term 10 years for all the Policy Terms
Sum Assured Minimum: Rs. 100,000
 Maximum: Rs. 5 crore
Aviva iGrowth

A Unit Linked Insurance Plan that not only makes your money work harder, but also provides comprehensive protection for you and your family.

Death Benefits:

In case of unfortunate death of the life insured the nominee will receive either the Sum Assured or 105% of the total premiums paid or the Fund Value at the date of notification of death along with Loyalty additions, if any, whichever of these is higher.

Maturity Benefit:

On survival of the Life Insured till the maturity date, you will receive the Fund Value along with Loyalty additions.

Loyalty Addition:

You will get Fund value based Loyalty additions on last 3 policy anniversaries of your policy, if all premiums are paid till date of respective loyalty addition. The rate of Loyalty Addition depends upon your policy term and continues to be attached and payable once added.

Eligibility
Minimum Entry Age 18 years (last birthday)
Maximum Entry Age 50 years (last birthday)
Maximum Maturity Age 60 years (last birthday)
Policy Term 10, 15 or 20 Years (subject to maximum maturity age)
Premium Payment Term Same as Policy Term
Aviva Life Bond Advantage

A Unit Linked Insurance Plan that helps to grow your wealth and offers you an opportunity to invest a lump sum for medium to long-term together with Life Cover and flexibility to access your money after 5 years.

Features
  1. 7 unit linked funds as well as two options for life cover
  2. Extra financial protection through the inbuilt Accidental Death Benefit
  3. Opportunity for additional investment with a nominal life cover (top-up)
Eligibility
Entry Age 02-65 years
Policy term 10-73 years (minimum age at maturity 18 years; maximum age at maturity 75 years)
Premium Paying Term Single Premium
Base Premium Minimum Premium: Rs. 50,000
Top-up Premium Minimum: Rs. 5,000; Maximum: Up to single Premium paid
Aviva Family New Income Builder

A saving cum protection oriented traditional life insurance plan that assists you financially by guaranteeing returns in the form of regular payouts for 12 years.

Death Benefit

In case of death of the life insured during the policy term provided all due premiums till date of death have been paid, the Death Sum Assured payable shall be highest of the following amounts:

  1. 10 times of the annualized premium, or
  2. 105% of all the premiums paid (excluding taxes and extra premiums, if any) as on date of death, or
  3. Maturity Sum Assured
  4. Sum Assured of the Policy, the Sum Assured will be paid in the following manner:
    • 12 regular annual installments of “1.5 times the annual premium” (excluding taxes and extra premium, if any) shall be paid. The first installment would be paid at the time of claim settlement and the remaining 11 annual installments shall be paid on each of the death anniversary of the life insured commencing from first death anniversary date.
    • A lump sum amount of “6 times the annual premium” (excluding taxes and extra premium, if any) shall be paid along with the 12th annual installment on 11th death anniversary of the life insured.
Eligibility
Entry Age 6 to 50 years last birthday
Maturity Age 18 to 62 years last birthday
Policy Term 12 years
Premium Payment Term 12 years
Payout Period 12 years after maturity i.e. 13th to 24th year
Aviva Wealth Builder

A traditional life insurance plan that doubles the total amount of premiums paid and returns it as a lump sum at maturity, guaranteed.

Features
  1. Doubles your money for defined milestones
  2. Guaranteed protection for your family in case of your death
  3.  
  4. Flexibility in choosing premium payment and policy terms
  5. Tax Benefits at the time of investment as well as maturity, for regular premium policies
Eligibility
Entry Age(last birthday) Minimum: 5 years
Maximum: 50 years
Maturity Age (last birthday) Minimum: 18 years
Maximum: 63 years (Single Premium), 67 years (Regular Premium)
Maximum Premium (per Life) Rs.1,00,00,000
Minimum Premium Regular Premium: Rs.50,000 p.a. + applicable taxes
Single Premium: Rs.1,50,000 + applicable taxes
Premium Paying Frequency Single or Annual
Aviva Dhan Vriddhi Plus

A traditional participating life insurance plan that helps you save systematically and build a corpus. Minimum age is 18 years and the maximum age is 50 years.

Features
  1. On maturity, get 100% return of premiums paid as guaranteed benefit  along with accrued bonus, if any  to meet your long term needs
  2. Ensure financial security of your loved ones in case of any exigencies
  3. Chose between a premium payment term of 5, 7 or 11 years basis amount of money you require on maturity
Eligibility
Minimum Entry Age (last birthday) 18 years
Maximum Entry Age (last birthday) 50 years
Maturity Age (last birthday) 70 years
Premium Payment Term (PPT) 5 years, 7 years & 11 years
Policy Term (PT) 20 years
Aviva Affluence

A Unit Linked insurance plan which helps you live to the fullest & demand the maximum out of your finances. The policyholder will not be able to surrender/withdraw the money invested in linked Insurance products completely or partially until the end of the fifth year.

Features
  1. Pick your policy term to match your long term goals
  2. Choose to pay premiums as per your convenience for 5, 7, 10, 15 years or for the entire policy tenure
  3. Opt from 7 funds and invest in the fund or combination of funds, that best suits your risk profile
  4. Elect to enter the equity market on a weekly or monthly manner through Systematic Transfer Plan.
Eligibility
Entry Age (last birthday) Minimum: 2 years
Maximum: 50 years
Policy Term 15 to 30 years, subject to minimum & maximum maturity age
Premium Payment Term (PPT) 5 / 7 / 10 / 15 or Equal to Policy Term
In-built Accidental Death Benefit In-built Accidental Death Sum Assured shall be equal to the Base Sum Assured, subject to maximum of Rs. 50 lacs, including all existing Accidental Death Benefit cover issued by Aviva.
Premium Payment Frequency Yearly Only
Retirement plans

Retirement plans are designed in a manner that ensures a steady income for you in the form of a pension during your post-retirement life so that you can continue living a financially independent life. The company offers plans to suit your requirements with easy payment options and excellent returns.

Aviva Annuity Plus

A traditional insurance plan specially designed to provide you with lifetime income during your post-retirement years

Features
  1. Option to select from  7 annuity options to suit your specific financial needs
  2. Annuity amount payable is guaranteed for the life of the policy
  3. Flexibility to enhance the Purchase Price at inception for higher annuity installment
Eligibility
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
Aviva Dhan Samruddhi

A traditional life Insurance Plan that gives guaranteed cash back every 5 years in addition to guaranteed maturity benefit, to meet your short and long-term needs.

Features
  1. Guaranteed returns: Your policy earns a Guaranteed Addition of 7% per annum to 9% per annum of the Annualized Premium (excluding taxes and any other extra premium), depending upon the policy term chosen by you,till the end of the policy term which is payable at maturity.
  2. Liquidity: Your policy pays back 125% of the Annualized Premium (excluding taxes and any other extra premium) as Survival Benefit every 5 years (except at maturity)
  3. Guaranteed Maturity Benefit: At maturity, you get the Sum Assured plus accrued Guaranteed Additions minus Survival Benefits already paid.
  4.  
  5. Rebate for high Sum Assured: Rebate on basic premium is allowed if your Sum Assured is Rs. 5 Lacs or higher. 
Eligibility
Entry Age Minimum: 13 years last birthday 
Maximum: 55 years last birthday 
Maturity Age 23 to 70 years
Policy Term 10, 15 or 20 years, subject to maximum maturity age
Premium Payment Term 10 years for all the Policy Terms
Sum Assured Minimum: Rs. 100,000
Maximum: Rs. 5 crore
Aviva iGrowth

A unit linked insurance plan that not only makes your money work harder but also provides comprehensive protection for you and your family.

Accident here means a sudden, unforeseen and involuntary event caused by external, visible and violent means.

In the event of death of Life Insured after discontinuance of a policy within lock-in period of first five policy years, the policy will be terminated by paying the Fund  value as per the discontinued policy fund  to the nominee.

Maturity Benefit: On survival of the Life Insured till the maturity date, you will receive the Fund Value along with Loyalty additions.

Loyalty Addition: You will get Fund  value based Loyalty additions on last 3 policy anniversaries of your policy, if all premiums are paid till date of respective loyalty addition. The rate of Loyalty Addition depends upon your policy term and continues to be attached and payable once added.

Eligibility
Minimum Entry Age 18 years (last birthday)
Maximum Entry Age 50 years (last birthday)
Maximum Maturity Age 60 years (last birthday)
Minimum Premium Depends upon Age, Policy Term and Sum Assured
  Rs. 6,464 for Yearly mode
Rs. 3,302 for Half-Yearly
Rs. 1,675 for Quarterly mode
Rs. 563 for Monthly mode
Maximum Premium Rs. 47.53 lacs
Aviva Family New Income Builder

A saving cum protection oriented traditional life insurance plan that assists you financially by guaranteeing returns in the form of regular payouts for 12 years.

Maturity Benefit

In case the life insured survives till the end of the Policy Term and provided all due premiums have been paid; the Maturity Sum Assured will be paid in the following manner:

  1. 12 annual instalments of “1.5 times the annual premium” (excluding taxes and extra premium, if any) shall be paid at the end of each year during the Payout Period.
  2. A lumpsum amount of “6 times the annual premium” (excluding taxes and extra premium, if any) shall be paid at the end of the Payout Period

An additional Guaranteed Terminal Benefit, depending upon age at entry, is paid at the end of the Premium Payment Term.

In case of unfortunate death of the Life Insured while receiving the regular income, the outstanding regular payouts shall be paid to the nominee/beneficiary.

Death Benefit

In case of death of the life insured during the policy term provided all due premiums till date of death have been paid, the Death Sum Assured payable shall be highest of the following amounts:

  1. 10 times of the annualized premium, or
  2. 105% of all the premiums paid (excluding taxes and extra premiums, if any) as on date of death, or
  3. Maturity Sum Assured
  4. Sum Assured of the Policy; the Sum Assured will be paid.
Eligibility
Entry Age 6 to 50 years last birthday
Maturity age 18 to 62 years last birthday
Policy Term 12 years
Premium Payment Term 12 years
Payout Period 12 years after maturity i.e. 13th to 24th year
Aviva Dhan Vriddhi Plus

A traditional participating life insurance plan that helps you save systematically and build a corpus.

Features
  1. On maturity, get 100% return of premiums paid as guaranteed benefit  along with accrued bonus, if any  to meet your long term needs
  2. Ensure financial security of your loved ones in case of any exigencies
  3. Chose between a premium payment term of 5, 7 or 11 years basis amount of money you require on maturity
Eligibility
Minimum Entry Age (last birthday) 18 years
Maximum Entry Age (last birthday) 50 years
Maturity Age (last birthday) 70 years
Premium Payment Term (PPT) 5 years, 7 years & 11 years
Sum Assured (SA) For PPT = 5 years: When entry age 18-45 years, Minimum SA is Rs 5 lac
When entry age 46-50 years, Minimum SA is Rs 10 lac
For PPT=7 years
Minimum Sum Assured is Rs 5 lac
For PPT=11 years
Minimum Sum Assured is Rs 3 lac
For all three PPTs, Maximum Sum Assured is Rs 5 crore
Aviva Affluence

A Unit Linked insurance plan which helps you live to the fullest & demand the maximum out of your finances.

Features
  1. Pick your policy term to match your long term goals
  2. Choose to pay premiums as per your convenience for 5, 7, 10, 15 years or for the entire policy tenure
  3.  
  4. Opt from 7 funds and invest in the fund or combination of funds, that best suits your risk profile 
  5. Elect to enter the equity market on a weekly or monthly manner through Systematic Transfer Plan
Eligibility
Entry Age (last birthday) Minimum: 2 year
Maximum: 50 year
In-built Accidental Death Benefit In-built Accidental Death Sum Assured shall be equal to the Base Sum Assured, subject to maximum of Rs. 50 lacs, including all existing Accidental Death Benefit cover issued by Aviva.
Policy Term 15 to 30 years, subject to minimum & maximum maturity age
Premium Regular Premium:
Minimum: Rs.1,00,000
Maximum: No limit, subject to board approved underwriting
Top-up Premium:
Minimum: Rs.5,000
Maximum: No limit, subject to  board approved underwriting
Sum of Top-up Premiums should not exceed sum of Regular Premiums paid
Term plans

Aviva Life Insurance Company is offering a wide range of term insurance plans which make it easy for you to compare and choose the best one for yourself.

Aviva I-Life

An Aviva-I- life-term insurance policy is designed to afford your family with utmost protection when you are not around. Give your loved ones an additional financial backup to take care of their daily needs at an extremely affordable price.The premium of the plan may vary as per requirement.

Features
  1. Life cover up to 80 years of age
  2. Increase life coverage during policy term
  3. Option for coverage against 16 critical illnesses and disability**
  4. No need for hospital bills**
  5. Immediate payout on the first diagnosis of critical illness**
  6. Tax benefits^ on premium paid as per tax law
Eligibility
Entry Age Minimum: 18 years (age last birthday)
Maximum: 65 years (age last birthday)
Maximum Maturity Age 80 years last birthday (without Aviva Critical Illness and Disability Rider-Non linked Rider)
70 years last birthday (with Aviva Critical Illness & Disability Rider -Non linked Rider)
Premium Min: Rs. 3,861 (excluding discounts, taxes & extra premium, if any)
Max: Depends on the Age, Term & Sum Assured chosen
Aviva i-Shield

The best thing about this plan is that it offers great protection at low cost. It is a term insurance plan with return of premium that protects your family in case you are not around. Under the same, you will get 110% of premiums paid at maturity.

Features
  1. Comprehensive protection at affordable cost
  2. Customize your plan with choice of cover:
  3. Protect: Death cover with inbuilt terminal illness benefit
  4. Protect Plus: Double the Sum Assured paid out on accidental death
  5.  
  6. Protect Assured: Sum assured on death or 120% of total premiums paid on survival till maturity
  7.  
  8. Protect Income: Monthly Income for the family in case of death 
    • Option for additional protection against critical illness and permanent total disability with Aviva Critical Illness & Disability rider- Non Linked Rider
    • Option to increase the amount of cover when responsibilities increase, once during the policy term under option ‘Protect’ and  ‘Protect Plus’
Eligibility
Entry Age Minimum: 18 years (age last birthday)
Maximum: 65 years (age last birthday)
Maximum Maturity Age 75 years last birthday (without Aviva Critical Illness and Disability Rider-Non linked Rider)
70 years last birthday (with Aviva Critical Illness & Disability Rider -Non linked Rider)
Premium Min: Rs. 3525 (excluding discounts, taxes & extra premium, if any)
Max: Depends on the Age, Term, Option & Sum Assured chosen
Aviva Life Shield Advantage

One more effective term plan that offers wider coverage at your doorstep at a nominal cost. There is a bunch of benefits that you will get under this policy like the return of premiums paid at maturity.

Features
  1. Payment of Life Cover (Sum Assured) to your family in the event of your death (Option A)
  2. Additional protection against Accidental Permanent Total Disability (Option B)
  3. Return of the money paid towards the base premium on your survival at the end of the policy term
  4. A rebate on your premium for higher levels of Sum Assured
Eligibility
Entry Age 18-55 years (Maximum age at the expiry of the policy is 65 years)
Policy term 10 years to 30 years
Minimum Sum Assured Rs 2 lacs
Premium Payment Frequency Single Premium (for Option A), Yearly, Half-Yearly, Quarterly and Monthly (for both Options)
Aviva Life Shield Platinum

One more life protection that will enhance your investment portfolio credibility. It is one of the top insurance plans by Aviva. It comes out with various features such as the option of life cover, income protection, or loan protect.

Features
  1. Option A: Life Protection: The Sum Assured is paid out to the nominee as a lump-sum in case of your unfortunate death.
  2.  
  3. Option B: Income Replacement: The nominee will receive monthly benefit amount chosen at inception till the end of the policy term, this amount increases by 5% p.a. compounded annually from the very first year of the policy to beat inflation
  4. Option C: Loan Protection: Under this option, the Sum Assured (SA) reduces uniformly over the Policy Term and the applicable Sum Assured as on the year of unfortunate death is paid to the nominee.
Maturity Benefit:

This is a pure insurance product and hence there is no maturity benefit payable under this plan

Surrender Benefit:

Option A: There is no surrender value

Option B & C: The policy will acquire surrender value after the premium payment term, if all due premiums have been paid.

Eligibility
Entry Age 18-60 years
Policy Term 10 to 52 years, subject to the maximum maturity age of 70 years
Premium Payment Term Option A – equal to Policy Term
Option B & Option C – 2/3rd of policy term, rounded down to nearest integer
e.g. for a 16 years term, paying term will be 10 years
Premium Payment Frequency Annualy, Half-yearly, Quarterly or Monthly
Aviva Extra Cover

This policy combines the benefits of the Aviva i-Life and the Aviva Health Secure policy that provides all-around protection. Under the same.The customer has the choice of purchasing any one or more products as per his/her need and choice.

Death Benefit:

In case of your unfortunate death during the policy term, the Sum Assured will be paid to the beneficiary in your family to take care of their future needs.

Critical Illness Benefit:

The Sum Assured will be paid in case of diagnosis of any of the 12 major critical illnesses covered under the product.

The premium for Critical Illness cover will not change for the first five years. However, the premium will be reviewable every five policy years at the policy anniversary, after approval from the IRDA of India. Such review of premium rates will be performed by the Company at the beginning of the calendar year and premium rates after review would only be applicable for the contracts for which the review falls due in that year.

Only conditions described as critical illness in the Aviva Health Secure brochure are covered under this policy. Sum Assured is payable, provided the life insured survives for 30 days after the diagnosis of critical illness. A policyholder can claim at the first diagnosis of any critical illness, provided the critical illness has been diagnosed after 90 days of the policy commencement date or the date of reinstatement.

Maturity Benefit:

No maturity benefit is payable under this product combination.

Eligibility
Minimum Entry Age (last birthday) 18 years
Maximum Entry Age (last birthday) 55 years
Maximum Maturity Age (last birthday) 70 years for term insurance
65 years for critical illness cover
Minimum Sum Assured Rs. 25 Lac for term insurance
Rs. 5 Lac for critical illness cover
Aviva i-Life Total

A non-linked & non-participating life insurance term plan. Aviva’s i-Life Total is more than just a term plan as it not only shields you and your family from the impact of uncertainties and unforeseen circumstances but also lends the loved ones you left behind, the financial independence they need when you’re no longer around.

Features
  1. Comprehensive protection at affordable cost
  2. Customize your plan with choice of cover:
  3. Protect: Death cover with inbuilt terminal illness benefit
  4. Protect Plus: Double the Sum Assured paid out on accidental death 
  5. Protect Assured: Sum assured on death or 120% of total premiums paid on survival till maturity
  6.  
  7. Protect Income: Monthly Income for the family in case of death
    • Option for additional protection against critical illness and permanent total disability with Aviva Critical Illness & Disability rider- Non Li
Eligibility
Entry Age Minimum: 18 years (age last birthday)
Maximum: 65 years (age last birthday)
Maximum Maturity Age 75 years last birthday (without Aviva Critical Illness and Disability Rider-Non linked Rider)
70 years last birthday (with Aviva Critical Illness & Disability Rider -Non linked Rider)
Premium Min: Rs. 3525 (excluding discounts, taxes & extra premium, if any)
Max: Depends on the Age, Term, Option & Sum Assured chosen

Aviva Life Insurance Claim Process

The claim can be filed in a simple and hassle-free process. Mentioned are the steps for claim process:

1. Claim Intimation:

The beneficiary have to intimate the claim to the insurance company by filling a claim form completely. A few documents will be required to attached along with the claim form. They are mentioned below:

  1. Terminal illness claim form
  2. Critical illness claim form
  3. Accidental disability form
  4. Natural/Accidental death form The nominee needs to ensure that the form is filled based on the type of claim and submitted to the Aviva Life Insurance office along with the doctor’s certificate, death certificate, physician statement etc.
2. Payment:

On receiving the documents, the insurance company will pay the amount to the nominee of the policy. This process happens only during death claim.

3. Arrange for documents:

Based on the type of claim, the benficiary have to attach the relevant documents in original or photocopies. These photocopies are needed to be attested by a Gazette officer.

4. Settlement payout:

The insurer will verify the documents once received. In case of any more documentation, the verification process will be complete after receiving the same. The clauses and riders if any would also be examined. If all the documents are appropriate as per the requirement, then the funds would be released in the nominee’s favor

Aviva Life Insurance Customer Login Process

Aviva Life Insurance assist you to use the online service. It is one of the best and easiest way to check for policy details and know the current status as well. If you want to renew your your policy then Aviva Life Insurance India Customer Login Portal is all you need and it will be helpful for online payment as well.

For Aviva Life Insurance Login, we are giving the Login process steps for the convenience of the customer.

  1. The policyholder has to visit the official website of Aviva Life Insurance.
  2. The Aviva Life Insurance Company official website is www.avivaindia.com.
  3. In Aviva Life Insurance home page, the ‘Login‘ option is on the right side top of the page.
  4. Click that ‘Login’ option.
  5. Then you will able to see 3 options as shown below.
  6. The customer has to click on the ‘Customers’ option.
  7. Then it will be directed to the ‘Aviva Life Insurance Customers Login’ page.
  8. In that page, ‘Login using’ column is there.
  9. When you click that arrow, you will observe some options.
  10. The customer has to select any one of them in that options.
  11. In another column, enter value is there.
  12. In that ‘Enter value’ column, if you select Email Id, then you will your email id there.
  13. Next enter your password.
  14. Then click on the ‘Login’ option.
  15. Now, you can use Aviva Life Insurance Login to make the online payment.

Aviva Life Insurance-Online Payment Process

To provide more ease to its customers, Aviva Life Insurance has launched an online premium payment option through which consumers can easily make payment ontime without any penalty.

It is a simple process, all you need to do is visit the Aviva Life Insurance official portal.

Log in with your credentials

Use the premium payment option to proceed further.

Aviva Life Insurance News

Aviva Life Introduces New Unit-Linked Insurance Plan

Aviva Life Insurance- a well known life insurance company today announced the launch a new  insurance plan that is basically a unit-linked insurance policy. The new policy offers long-term premium options to all consumers. Apart from the same, it also provides benefits of ULIP.

Aviva Affluence is intended to achieve high net-worth individuals, the company said in a release, adding it provides the option to choose from different premium payment terms, starting from 5 years going up to 30 years.

Trevor Bull, MD & CEO, Aviva India, said: “Our focus is on segments and geographies where we know we can make a difference, to the lives of our customers. Aviva Affluence is based on that thought, it’s a total customer proposition meant for a select audience that desires to multiply their wealth.”

Wednesday March 23, 2016

FIPB Clears FDI Proposals Worth Rs 7,262 Cr

Japanese insurance company Nippon Life Insurance, Tata AIA and Aviva Life were among the 15 companies whose foreign direct investment proposals totalling Rs 7,262 crore have been permitted by the FIPB.

Moreover, the proposal of YES Bank to raise  the foreign investment limit to 74 per cent from existing 41.87 percent without any limits has been referred to the Cabinet Committee on Economic Affairs (CCEA).

As per the recommendations of the Foreign Investment Promotion Board (FIPB) during a meeting that was held on March 7, the government has permitted 15 FDI proposals involving Rs 7,261.6 crore and suggested one application for approval of CCEA involving FDI of Rs 6,885 crore, a Finance Ministry statement said.

The Board also permitted the offer of Taurus Ventures for issuance of shares to the shareholders of Max India pursuant to a demerger of Max India Ltd. The offer of Nippon Life to hike stake in Reliance Life Insurance from 26 percent to 49 percent for Rs 2,265 crore was permitted by the board.

Also, Tata AIA Life Insurance Company’s proposal to raise AIA International’s stake from 26 percent to 49 percent that is around  Rs 2,055 crore was also cleared by the board.

Wednesday March 23, 2016

Linking Of Aadhaar With Insurance Policy Is Mandatory, Says IRDA

On Wednesday, 8th Nov 2017, the Insurance Regulatory And Development Authority Of India (IRDA) said that the linking of Aadhar number with insurance plans is compulsory and asked insurance companies to implement the statutory norms.

 “The Authority clarifies that, linkage of Aadhaar number to insurance policies is mandatory under the Prevention of Money Laundering (Maintenance of Records) Second Amendment Rules, 2017,” the IRDA said.

In the last June, the government of India had informed about the Prevention of Money Laundering (Maintenance of Records) Second Amendment Rules, 2017, making Aaadhar and PAN/Form 60 compulsory for getting financial services that include insurance also and asked policyholders and companies for linking the existing policies with the same.

In a discussion with all life and general insurance companies, IRDA said the rules have “statutory force” and they have to implement the rule without waiting for the further instructions.

Right now, there are 24 life insurers and 33 general insurance companies operating in the country.

Although, there are no deadlines that have been given by IRDA for the completion of the process, as per the circular, it has to be done as soon as possible. Some insurance companies also said that this can also result in the delay of payout in a few cases. Aadhaar is now also compulsory for financial transactions of Rs 50,000 and above. Likewise, one has to link one’s Aadhaar number with the mobile number latest by February 6, 2018.

Monday November 13, 2017

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