Aviva Life Insurance
  • 98.39% CSR
  • 33 Million Customers
  • Globally presence
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Aviva Life Insurance: Overview

Established in 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. It offers its customers several life insurance products such as term plans, savings plans, child plans, and retirement plans together with group insurance solutions.

The plans offered by Aviva Life Insurance company ensure to meet all of the insurance needs of the policyholder that too at a very reasonable premium rate. With a wide range of plans to select from, Aviva India Life Insurance ensures to insure the policyholder & their family against a variety of situations.

Aviva Life Insurance Company ensures to look after your insurance needs by offering:

why-choose

  • Good solvency ratio

  • High claim support

  • Wide range of plans

  • PAN India Presence

Key highlights of Aviva Life Insurance

To get more insight into Aviva Life Insurance Company's performance, take a look at the below key highlights that will help you to analyze the company based on its performance:

Solvency Ratio

Aviva Life Insurance has a Solvency Ratio of 1.8 as per the IRDAI annual report 2022-23. The solvency ratio helps the prospective policyholder assess the ability of a company to meet its financial obligations. As of now, IRDAI mandates maintaining a solvency ratio of 1.50 for every insurer.

Features of Aviva Life Insurance

There are various features to Aviva Life Insurance Plans. Let's understand each of them in detail:

  • Good CSRlaim settlement ratio of a life insurance company helps an individual understand the claim-settling ability of the company. As per the latest IRDAI Report of 2022-23, the CSR of Aviva Life Insurance Company is 98.39%.
  • A good solvency ratio determines the financial stability of the insurer. As per IRDAI, all insurance companies in India are obliged to maintain a minimum solvency ratio of 1.5. For Aviva life insurance, the solvency ratio for the financial year 2022-23 is 1.8.
  • Annual Premiums The annual premiums of an insurer help the potential policyholder identify the volume of the business and help them measure the preferences of other customers. As per the IRDAI report, the annual premium of Aviva Life Insurance Company is 1317.45 cr in the financial year 2022-2023.

Benefits of Aviva Life Insurance Plans

There are multiple benefits of Aviva Life Insurance Plans. Read below to understand the plethora of advantages provided by them.

Simple and Hassle-free process

Aviva Life Insurance offers you a simple and hassle-free process for purchasing any of the life insurance plans. You just have to select the specific plan and fill out all mandatory details ending with the simple payment procedure.

One-Day Claim Approval

As per the records, 98.39% of non-investigative individual claims were approved in one working day for FY 2022-23.

Excellent Customer Service

Aviva Life Insurance offers 24/7 customer support to their individuals, the insurance firm has a strong customer service department.

Enhanced Protection With Multiple Add-ons

Aviva Life Insurance offers various riders to attach with a base life insurance policy. So that you can enhance your protection by adding a few premiums.

Tax Benefits

All premiums paid for Aviva Life insurance can be used for claiming tax benefits under the Income Tax Act of 1961. You can claim for up to Rs. 1.5 lakhs under section 80C and Rs. 2.5 lakhs under section 10(10D) of the Income Tax Act, 1961.

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Rider Benefits You Can Avail With Aviva Life Insurance Plans

Here are the rider options you can avail with Aviva Life Insurance Plans to enhance your coverage:

Maternity Benefit Rider

Accidental Death Benefit Rider

Aviva Accidental Death Benefit Rider offers an extra sum assured to the nominee of the policyholder, in case of an unfortunate demise of life insured caused by an accident during the rider's term.

Maternity Benefit Rider

Critical Illness Rider

Aviva Critical Illness Rider offers an advanced sum assured to the policyholder upon the diagnosis of the listed critical illnesses in the policy such as cancer, kidney failure, heart disease, etc.

Maternity Benefit Rider

Waiver of Premium Rider

Aviva Waiver of Premium Rider offers you the benefit of waiving off all future premiums in case of permanent disability of the body caused by any reason.

Documents Required to Purchase Aviva Life Insurance Policy

Here is the list of documents required to buy Aviva Life Insurance Plans:

  • Regular Smoking
    Photo ID Proof
  • Your Occupation
    Age Proof
  • Pre-Existing Diseases
    Address Proof
  • Your Age
    Medical Records
  • Your Gender
    Income Proof
Photo ID Proof

Photo ID Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.

How to Buy Aviva Life Insurance Plans?

Aviva Life Insurance allows you to buy life insurance plans via two platforms. You can either buy the plan online from the official website of the company or through third-party intermediaries like agents, brokers, etc. Given below is a detailed explanation of both these types of buying processes.

Life Insurance
  • Step 1

    Fill out the form given at the top of this page with all the necessary details.

  • Step 2

    Select your income and city. Click on 'Proceed'.

  • Step 3

    Update your education and occupation details.

  • Step 4

    Choose your preferred plan and click on 'Buy this plan'.

  • Step 5

    Select the policy term, premium period, and riders (if required), and then proceed to make the payment. Once the payment is made, you will get a payment confirmation at your registered email address.

Life Insurance
  • Step 1

    Visit the official website of Aviva Life Insurance.

  • Step 2

    Choose the category of plan on the navigation bar that you want to purchase.

  • Step 3

    Click on the 'Request a call' button present at the bottom of each plan page.

  • Step 4

    Select policy tenure and fill out all the mandatory details.

  • Step 5

    Make payment through any of the available payment modes. Once the payment is made, you will get a payment confirmation at your registered email address.

Why Choose PolicyX.com?

Don't just take our word for it - check out what our happy customers say about us!

All my claims were rejected for 3 years. Then, I received a text from PolicyX team, who noticed that my claims hadn't been settled. They managed to get my claims settled, totalling ₹4.5 L. I really appreciate the efforts of the PolicyX advisors for their support in settling my claims.

Ravindra Singh

I highly appreciate the help of the PolicyX team for settling my claim of Rs. 5 Lakhs with zero deductions. I took a policy online from them in March 2024. As a customer, it's been a great experience throughout the process.

Priti varshney

I'm very satisfied because my claim of over ₹2 L has been settled as a result of your team effort. However, I was very upset with the insurer, who delayed the claim for almost 2 months. But with your support and interaction, the claim was settled within 30 days & I appreciate it a lot.

Nisha Mary

I bought my health policy from PolicyX, and so far, it's been a very pleasant experience with the team. I really appreciate the help for renewing my health policy. I look forward to continuing my relationship with PolicyX and recommend it to everyone.

Ajay Shah

PolicyX has been a savior during a medical emergency in my family recently. My wife was admitted in the hospital, and the insurance company declined my claim request. The PolicyX team handled the situation very well and I received the claim right on time.

Vijay Rathod

I purchased a health plan for the very first time and the support by PolicyX is commendable. They helped me with the paperwork, explained the policy details to me with patience and supported me at every step of policy buying. A big thanks to you guys.

Uma Mahajan

How to File Aviva Life Insurance Claims?

Every claimant/nominee is assigned a dedicated Claims Relationship Officer who helps through the entire process. The life insurance claim Settlement process at Aviva Life Insurance involves the following three steps:

Online Process

Your Occupation
1

Claim Intimation

Inform the company about the incident via various channels-either by writing an email to Aviva Life at claims@avivaindia.com, calling the toll-free number (1800-103-7766), filling out the online claim form on its website, or visiting the nearest branch. A claim reference number/intimation number will be provided to you upon successful registration of the claim.

Your Occupation
2

Document Submission

You have to submit the necessary documents requested by the insurer to process the claim. In case of natural death: death claim form, death certificate, original policy documents, claimant's identity & residence proof, medical records, and account details of the nominee. In case of an accidental death: same documents with two additional ones: FIR and post-mortem report.

Your Occupation
3

Claim Settlement

After receiving all the documents and claim forms, the insurer will verify the details as per their norms. If they require any additional details they will contact you via call or email. On successful completion, the claim will be settled and the amount will be transferred to the nominee's bank account and the same will be communicated to him/her over a call or an email.

Offline Process

Aviva Life insurance claim settlement procedure can be reported by visiting the local Aviva Life Branch Office. For the details of Aviva Life Insurance branches, you can visit their website and locate the nearest branch. You have to submit the essential documents at the branch so that your claim can be processed.

Your Occupation

Exclusions of Aviva Life Insurance Plans

  • Death that occurred due to pandemics such as COVID-19 or Ebola will not be covered by the company.
  • Death, due to indulging in any type of adventure sports.
  • Death due to consumption of any type of drugs and alcohol.
  • Death due to any pre-existing disease that isn't mentioned during the start of the policy.
  • If a policyholder commits suicide during the first 12 months after obtaining the insurance, the nominee receives no death benefit. They receive just the premiums paid up to the date of the incident or the policy's surrender value, whichever is greater. 

Conclusion

In conclusion, Aviva Life Insurance offers a range of life insurance plans to meet the financial needs of every customer. With its PAN India presence Aviva Life Insurance could be the best life insurance policy for you.

For more info related to Aviva Life Insurance, you can contact Policyx.com by calling 1800-420-0269. Our trusted insurance advisors listen to your every unique problem and suggest the best possible solution for you.

Life Insurance

More Queries?

If you have any more queries regarding Aviva Life Insurance Plans, Renewals, or Claim Procedures, contact our insurance experts at:
1800-4200-269 now!

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 a duplicate policy: Visit the official website of Aviva Life Insurance Company and download the request form. Fill out the form with an appropriate reason for the application and submit it to the nearest branch of Aviva Life Insurance. Documents required for the application are ID proof like aadhaar card, PAN card, and a 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 the application

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

Yes, you will get a ’College Admission Fund (CAF)’, a lump sum amount at the time of your child’s admission to the college after your child attains the 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 the 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 the 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 the 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. How can I make a premium payment? What payment options are offered by Aviva Life Insurance?

It is important to pay your premium on time for the continuity of your benefits, Aviva Life Insurance offers several payment modes to pay the premium of your Aviva Life Insurance policy: Debit Card Credit Card ECS System NEFT Cheque/Cash Payment Follow the below-mentioned steps to pay the Aviva Life Insurance policy premium online: Enter your policy details i.e. policy number, DOB of the policyholder Select the premium payment mode Pay your premium and download your payment receipt.

10. How can I check my Aviva Life policy status?

To check the status of your Aviva Life Insurance policy status, you need to log in to the e-portal using your Client ID and password.

11. How can I check on the status of my Aviva Life Insurance policy claim?

Aviva Life Insurance Company will keep customers informed about the status of their claims through phone calls, SMS, and letters. Moreover, you can also check the status of your claim online by simply logging into the e-portal of the company.

12. What is the process for applying for a duplicate Aviva India Life Insurance policy?

To receive a duplicate of your policy from the Aviva Life Insurance company, you need to fill out a request form which you can download from the company’s official website and submit it to the nearest branch office along with all the required documents.

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Himanshu Kumar

Written By: Naval Goel

Naval Goel is the Founder and CEO of PolicyX.com (IRDA- Approved Insurance Comparison Website). He is a CFA charter holder (USA) and FRM (GARP). He holds an MBA from IIFT, Delhi, and is also an Associate from the Insurance Institute of India. Naval is an avid investor and entrepreneur who has a deep understanding of the Indian equity market and insurance sector. He has been investing for more than 10 years now and is a CFA charter holder.

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