Aviva Life I Growth
vs
Lic Premium Endowment

Aviva Life i-Growth is an individual unit-linked insurance plan that offers dual benefits: protection and savings. You can choose to pay for this plan either monthly or yearly, and you'll still get all the benefits for the entire policy term. With an i-Growth plan, you don't have to go through any medical examinations to buy life cover. 

The plan helps you stay invested and generate wealth through a choice of 3 unit-linked funds. It includes bond Fund-II, Balanced Fund–II, and Enhancer Fund-II; choose your fund based on your risk appetite. However, the loyalty addition will be added to the fund value on the last 3 policy anniversaries of your plan. 

You can even reduce your sum assured amount in case you don't need protection anymore. In this plan, you're only allowed to make partial withdrawals from fund value after the five-year lock-in period.

Aviva Life i-Growth Plan offers you a range of benefits including:

• 3 unit-linked fund options

• Loyalty additions

• Convenience of choosing your investment funds

• Pay premiums on a monthly or yearly basis
• Flexible policy and premium paying term

This plan has double roles to play. Firstly, this plan is applicable for safeguarding a family after the untimely death of the policyholder. Secondly, after maturity, it provides a handsome amount of money to the policyholder. After the end of each year, this policy has to offer a bonus amount which will be added to the main amount.

The name itself suggests that this plan is a limited-period offer. The meaning is the premiums that need to be paid are limited. After the end of certain years, the policyholder doesn't need to pay them anymore. This is one of the most attractive features of this plan. For example, if this policy is going to mature after 12 years then the policyholder has to pay premiums for at least 8 years. After that time period, they don't have to bear the payments. The amount of the actual policy will be paid fully if the policyholder dies unnaturally before maturity and also if it matures naturally.

LIC Premium Endowment Plan offers you a range of benefits including:

• Death Benefits
• Maturity Benefits
• High Sum Assured Rebates

• Profit Participation
• Bonuses