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Aviva TermInsurance
  • Economical term plans
  • Offline and online plans available
  • Hassle-free application process
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Buy Policy in just 2 mins

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Aviva Term Insurance Plans June, 2023

Aviva India is a joint venture between Aviva Plc., a UK based insurance group, and Dabur Invest Corp., one of India's oldest and most respected business houses. Aviva plc, founded in 1696, is among the world's oldest insurance companies in continuous existence. Aviva has the distinction of being one of the first insurance companies to set up business in India in 1834. Aviva Term Insurance has a customer base of over 34 million across the globe.

Aviva has an array of financial planning products like children's plans, investment plans, retirement plans, health plans, and term plans. At present, Aviva offers customers 2 term plans that take care of the family's financial needs and requirements in case of any unforeseen circumstances like your sudden demise.

Key Features of Aviva Term Insurance

Aviva Term Insurance is a leader amongst insurance companies and offers an economical way of securing your family after you. Let's have a look at some of the brilliant features of the policy making it one of the best available term insurance plans in the domain.

  • Annual Premium: As per the IRDAI report 2021-22, Aviva Insurance recorded an annual premium of Rs. 1,268.15 Crores.
  • Solvency Ratio: The Solvency Ratio of the company helps an individual ascertain the company's ability to meet its long-term financial obligations.
    The Solvency Ratio of Aviva Insurance for 2021-22 is 2.14 (As per IRDAI, it is mandatory for every life insurer to maintain a solvency ratio of 1.5).
  • Claim Settlement Ratio: The company has a good and reliable claim settling process with a CSR of 98.39%. (CSR as per IRDAI report of the year 2021-22). The Aviva Term Insurance claim settlement ratio showcases the amount of trust the consumers have in the insurance company.
Aviva Term Insurance Key Features

All You Need To Know About Aviva Term Insurance? Find complete details in one go!

Aviva Insurance Plans Why Buy Aviva Term Insurance? Exclusion Buying Process Claim Settlement Process

Benefits of Aviva Term Insurance

  • Trust and reliability: Aviva is one of the most customer-centric brands and understands the importance of a hassle-free and quick claim settlement process in difficult times. The brand caters to its customers first. Over the last year, Aviva settled 98.39% of all claims made.
  • Flexible Plans: Aviva offers term plans with flexible premium payment options according to the choice of your plan.
  • Tax Benefits: Tax Benefits can be availed for premium payments of Aviva Term Plans under sections 80C and 10 (10D) of the income tax act 1961.
  • Freelook Period: You have the right to review the policy terms and conditions and return your policy within a period of 15 days from the date of receipt of the policy document.
  • Life Cover: Aviva offers Term plans who have a life cover starting as low as Rs. 25,000.

Aviva Life Best Term Insurance Plans

Aviva Life Insurance offers two variants of term insurance plans to provide financial protection against life's uncertainties.

  • Aviva Jana Suraksha
  • Aviva Saral Jeevan Bima

Aviva Jana Suraksha

The Aviva Jana Suraksha is a life insurance plan that helps you protect your children’s future. It is a low-cost life insurance plan with flexible premium payment terms.

Unique Features

  • No medical test required
  • Avail tax benefit
  • 2X SI for accidental death

Aviva Saral Jeevan Bima

Aviva Saral Jeevan Bima Plan is a term life insurance plan which provides financial security to your loved ones. The sum assured can be up to 25 lakhs with a death benefit.

Unique Features

  • Avail death benefit
  • Avail tax benefit
  • Revive lapsed policy

Aviva Protection Plus

A plan that comes with basic/additional and maturity sum assured, discounts on the higher sum assured and Return of Premiums.

Unique Features

  • Covers Transgenders
  • Enriched Protection Option
  • Savings Booster Option

Other Term Insurance Companies

Exclusions of Aviva Term Insurance Plans

There are some general exclusions against which the above-mentioned term insurance plans by the Aviva Life Insurance company would not provide coverage. Let's have a look at them:

  • In case of death of Life Insured due to suicide within 12 months from the date of commencement of risk under the policy or from the date of revival of the policy, as applicable, the nominee or beneficiary of the policyholder shall be entitled to at least 80% of the total premiums paid till the date of death or the surrender value, if any, available as on the date of death whichever is higher, provided the policy is in force.

  • If the Life Assured commits suicide at any time within 12 months from the date of commencement of risk, provided the policy is in force or within 12 months from the date of revival and the company will not entertain any claim except for 80% of the premiums paid (excluding any extra amount if charged under the policy due to underwriting decisions, taxes and rider premiums, if any) till the date of death.

Why should you buy Aviva Term Insurance Plans

Aviva Term Insurance plans are an excellent choice for anyone looking for a cost-effective and reliable way to protect their family's financial future. Here are some reasons why you should consider buying Aviva Term Insurance:

  • Affordable premiums
    Aviva term insurance offers affordable premiums, making it easier for you to secure your family's financial future without paying hefty premiums.
  • Comprehensive coverage
    These plans offer comprehensive coverage, including accidental death benefits, terminal illness benefits, and disability benefits, ensuring that all of the unfortunate scenarios are covered within the plans.
  • Hassle-free claims process
    Aviva has a hassle-free claims process, ensuring that your beneficiaries can easily claim the sum assured in case of your unfortunate demise.
  • Trustworthy reputation
    Aviva is a well-known and trusted brand with a reputation for providing high-quality insurance products and excellent customer service.

How To Buy Aviva Term Insurance Plans

Steps to buy from Aviva Life Insurance company

  • Visit the official website of Aviva Life Insurance Company.
  • Click on 'All Plans' on the navigation bar and select 'Term Insurance Plans'.
  • Click on the 'Buy Now' button and fill in the required details.
  • Tap on 'Next' and select a plan as per your requirements.
  • Select the cover option you want and make your payment.

**Once the payment is made, you will get a payment confirmation at your registered email address.

Steps to buy from PolicyX.com

  • Fill out the form given at the top of this page with the necessary details.
  • Select your income and city. Click on 'Proceed'.
  • Update your education and occupation details.
  • Choose your preferred plan and click on 'Buy this plan'.
  • Select policy term, premium period, and riders (if required) and then proceed to do the payment.

**Once the payment is made, you will get a payment confirmation at your registered email address.

Live your Dream after retirement
Live your Dream after retirement

How to File Aviva Term Insurance Claims?

Filing a claim for Aviva Term Insurance is a simple and hassle-free task. You can easily fill and submit their claims online. To file a claim for Aviva Term Plan, you need to follow the below-mentioned steps.

1. Claim Intimation

Visit the official website of Aviva and click on 'customer service' and 'file a claim'.

Further submit your details like:

  • Name of the policyholder
  • Policy number
  • Date of death/event of the life assured
  • Nominee name
  • Cause of death
  • Contact details

A claim reference number/intimation number will be provided to you upon successful registration of the claim.

2. Document Submission

Submit the necessary documents requested by the company to process the claim. In the case of natural death-

  • Death claim form.
  • Death certificate.
  • Original policy documents.
  • Claimant's identity & residence proof.
  • Medical records at the time of death & past illnesses.
  • Account details of the nominee.

In the case of unnatural death (Accidental death/Murder/Suicide)-

  • Death claim form.
  • Death certificate.
  • Account details of the nominee.
  • Original policy documents.
  • Claimant's identity & residence proof.
  • FIR, police inquest report & panchanama
  • Post mortem report.

3. Claim Settlement

After receiving all the documents and claim forms, the company will verify the details as per their norms. 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.

How to Contact Aviva Life Insurance Company?

2nd-floor Prakashdeep Building, 7 Tolstoy Marg, New Delhi: 110001, Delhi, India.

customerservices@avivaindia.com

Toll-Free Number: 1800-180-2111

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Aviva Term Insurance: FAQs

1. What is the minimum and maximum entry age for Aviva Term Insurance Plans?

The minimum entry age for Aviva's plan is 18 years, and the maximum entry age is 65 years. However, the maximum age limit varies based on the policy term and the type of plan selected.

2. Can I change the sum assured amount during the policy term?

No, you cannot change the sum assured amount during the policy term. However, you can opt for additional coverage by adding riders or buying a new policy.

3. How can I pay the premiums for Aviva Term Insurance in India?

You can pay the premiums through various modes such as debit card, credit card, net banking, or cheque. Additionally, you can also set up automatic payments through ECS or standing instructions.

4. Is it possible to cancel Aviva's Term Insurance policy after purchasing it?

Yes, it is possible to cancel the policy after purchasing it. However, the refund amount will depend on the terms and conditions of the policy and the duration for which the policy was active.

5. Can I change the duration of Aviva's term insurance cover after the policy is issued to me?

The duration of life cover cannot be changed once the policy is issued.

6. What will be the impact on the Aviva Term Insurance premium amount if my medicals show adverse results?

There are several factors that play a vital role in determining an increase in premiums. A few of such factors include health conditions and change in family history, etc.

7. Can one change his/her nominee - say include spouse after marriage under Aviva Term Insurance Plan?

Yes, you can change the nominee after marriage or if the nominee passes away before the policyholder. In both cases, one can request the insurance company to do the changes.

8. Does Aviva Term Insurance offer a free-look period?

Yes, Aviva Term Insurance provides a 15-day free-look period during which the policyholder can cancel or return the Aviva term plan after stating the reason for dissatisfaction.

9. Is suicide covered by Aviva term insurance plans?

If the life assured commits suicide during the first 12 months of the policy's issuance, the family of the assured will get 80% of the total premiums paid.

10. Is my Aviva term plan offer coverage for COVID 19?

Yes, COVID 19 is covered under the Aviva term life insurance plan.

11. What is the revival period offered for Aviva term life insurance plans?

Aviva Term Insurance provides a 5 year of revival period from the first date of unpaid premium payment.

12. Can I buy Aviva Term Insurance online?

Yes, you can buy Aviva Term Insurance online through the official website of the company.

Aviva Term Insurance Reviews

Read what our customers have to say about Aviva term insurance company

Customer Review Image

Nayanika Katyal

Delhi

October 6, 2021

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

Customer Review Image

Bholu Chaudhary

Delhi

September 21, 2021

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

Customer Review Image

Raveena kapoor

Guwahati

September 20, 2021

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

Customer Review Image

Devna Sharma

Chennai

August 19, 2021

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.

Customer Review Image

Anita Kumari

Kolkata

August 19, 2021

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

Customer Review Image

Vinny Thakur

Gandhinagar

August 19, 2021

Aviva is one of the best life insurance companies. I have bought Aviva Term Plan, and I am sure when I die my family will enjoy the money I left.

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