Aviva Life Insurance

Aviva India Life Insurance Company was established in the year 2000. The company has 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. It is ruling the insurance industry in child plans and protection plans with a strong sales team and first-rate products along with a wide distribution network across India.

Highlights

**Last Updated on 26-06-2020

Aviva Life Insurance Plans

1. Aviva Child Plans

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 parent(s). 

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 the 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

**Last Updated on 26-06-2020

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

**Last Updated on 26-06-2020

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

**Last Updated on 26-06-2020

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 has been launched to help 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

**Last Updated on 26-06-2020

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

**Last Updated on 26-06-2020

iii) Aviva Guaranteed Income Plan

Aviva Guaranteed Income Plan is a combination of savings and life insurance plan which provides guaranteed income by means of 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

**Last Updated on 26-06-2020

iv) Aviva New Family Income Builder Plan

Aviva New Family Income Builder Plan is a 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 a duration of 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

**Last Updated on 26-06-2020

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 so as to meet financial goals in the future.

Eligibility Criteria

**Last Updated on 26-06-2020

vi) Aviva Dhan Samrudhi Plan

Aviva Dhan Samrudhi 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 up to 7% to 9% of the annualized premium per annum based on the chosen policy tenure. This benefit is paid on maturation of the policy.

Eligibility Criteria

**Last Updated on 26-06-2020

vii) Aviva Wealth Builder Plan

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

Eligibility Criteria

**Last Updated on 26-06-2020

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. The policy provides 100% of all the paid premiums as accidental and non-accidental death benefit during the policy tenure.

Eligibility Criteria

**Last Updated on 26-06-2020

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 with the help of regular monthly income or at periodic intervals as per his/her choice. The retirement plans assure to pay 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 so as to receive higher annuity instalments.

Eligibility Criteria

**Last Updated on 26-06-2020

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. The policy protects the family in the absence of the policyholder by taking care of the financial liabilities.

Eligibility Criteria

**Last Updated on 26-06-2020

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 on the basis of 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 your 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

**Last Updated on 26-06-2020

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 provides the flexibility to customize the policy according to the requirements of the individual and offers benefits beyond legal liabilities. The policy offers a number of unit-linked investment funds to make investments as per your needs.

Eligibility Criteria

**Last Updated on 26-06-2020

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 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 will be decided by the employer. 

Eligibility Criteria

**Last Updated on 26-06-2020

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

**Last Updated on 26-06-2020

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 as well.

Eligibility Criteria

**Last Updated on 26-06-2020

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

**Last Updated on 26-06-2020

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

**Last Updated on 26-06-2020

viii) Aviva Credit Assure Plan

Aviva Corporate Life Plus Plan a group insurance plan 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 or organisations.

Eligibility Criteria

**Last Updated on 26-06-2020

ix) Aviva Credit Suraksha Plan

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

Eligibility Criteria

**Last Updated on 26-06-2020

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 of the employee. 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

**Last Updated on 26-06-2020

Why Choose Aviva Life Insurance Plans?

Offers Financial Security: 

Aviva life insurance policies are designed in such a way that can easily help you in achieving 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. 

To Take Care of The Business: 

If you are involved in a business partnership then the Aviva life insurance plan of the partner can save the business. If the partner dies, it will not create any hassle for you to purchase his shares with the help of a life insurance plan. There will be no need to sell the company due to the partner’s absence.

Brings Internal Peace & Satisfaction: 

Often people think about it later in life but you may not be qualified for life insurance at a later stage if you are suffering from any life-threatening or critical disease. You need to purchase a life insurance policy earlier in life; this will help in bringing internal peace and satisfaction for securing the future of your loved ones. Enhance the plan by adding more riders and covers to deal with all types of uncertainties of life even after death.

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 for various insurance providers to choose the best policy without any hassle and from the comfort of your home. 
• With the help of PolicyX.com, you can simply purchase a suitable plan as per your requirements within 5 minutes.
• The quotes provided by PolicyX.com are unbiased making it trustworthy and a persistent organisation.
• The customer care support team of PolicyX.com is always there to guide you at every step from the buying process to settling the claim of your policy. 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 intimate about the incident to the company by filing a claim form along with the relevant documents as per the policy. There are 4 types of claim forms as follows:

• Critical illness claim form
• Terminal illness claim form
• Natural/Accidental death form
• Accidental disability form

**The beneficiary needs to make sure that the claim form is as per the type of claim. 

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. These photocopies are needed to be attested by a Gazetted Government Officer.

Claim Settlement Payout:

On receiving the documents, the insurer will proceed with the verification process and may contact you in the event of any clarification. In case of any more documentation, the verification process will be completed after submission of the same. 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[at]avivaindia[dot]com

For any escalations: complaints[at]avivaindia[dot]com

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