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Aviva Term Insurance

Aviva Life Insurance is a joint venture between Aviva Plc and Dabur Invest Corp. The company provides a variety of insurance plans ranging from term insurance to retirement plans.

At present, the company offers two Term Insurance plans that takes care of your family's needs in case of your unfortunate demise.

Features of Aviva Term Insurance Plans

Flexibility to Customize Your Plan According To Your Needs

Affordable Premiums & High Coverage

Enhance Your Protection With Additional Riders

Choose Your Claims Payouts

Avail Tax Benefits

Claim Settlement Ratio of Aviva Term Insurance

The claim settlement ratio of the life insurance company helps an individual to get an idea of how many claims are paid by the company. Before investing in any term insurance plan, do remember to check the company's CSR.

As of IRDAI Annual report for FY 2019-20, Aviva Life's claim settlement ratio is 97.53%.

Take a look at the below graph that showcases the CSR of the company from the last 4 years.

Yearly Trend in the CSR of Aviva Life

Yearly Trend in the CSR of Aviva Life

**Data has been sourced from IRDAI's Annual Report

What Are the Different Term Plans Offered By Aviva Life?

Plan CategoryPlan Name
Term PlanAviva life Advantage
Aviva Jana Suraksha

Let's explore more about these plans:

  1. Aviva LifeShield Advantage Term Plan

    Aviva LifeShield Advantage Term Plan is an individual, non-linked and non-participating term insurance plan which can help safeguard your family's finances after your death and also support you in case of accidental, permanent or total disability during the term of the policy.

    Key Features

    • Two Categories of Protection: Under this plan, you get the opportunity to choose from two categories of protection:
    • Option A: Life protection
    • Option B: Life-cum-disability protection along with the return of premium
    • Return of Premiums: You don't have to worry about the premiums that you have paid towards this policy. Under this plan, Aviva will return the amount that you paid towards the base premium at the end of the policy tenure, excluding extra premium (if any) and taxes in case of life insured's survival.
    • Maturity Benefit: Under this plan (both options), you will receive the maturity sum assured, which is the sum of total premiums paid, without any interest.

    Eligibility Criteria

    Entry age18 years to 55 years
    Maturity age28 years to 65 years
    Policy term10 years to 30 years
    Sum Assured (SA)Minimum: 35,00,000, Maximum: Option A - No limit, Option B - 50 lac
  2. Aviva Jana Suraksha

    Aviva Jana Suraksha is a term insurance plan that offers financial protection for your children/dependents with the help of a guaranteed lump sum amount in case of your death during the term of the policy.

    Key Features

    • Death Benefit: In the event of your death, the sum assured will be paid to the nominee. Double the life cover will be paid in the case of accidental death.
    • Protection Against Accidental Death: In such an event, an amount equal to two times the sum insured is paid to the beneficiary.
    • Tax Benefit: The policy offers tax benefits as per the Income Tax Act, 1961.

    Eligibility Criteria

    Entry age18 years to 45 years
    Policy Term5 or 10 years, subject to the maximum maturity age of 50 or 55 years respectively
    Premium payment termSingle-premium or Equal to the policy term
    Annual PremiumDepends on life cover
    Premium Payment FrequencySingle, Annually, Half-yearly, Quarterly or Monthly

How To Buy Aviva Term Insurance Plans?

You can invest in Aviva Term Insurance Plans by visiting any branch of Aviva Life Insurance. Just follow the below steps-

  • Visit the nearest branch of 'Aviva Life Insurance Company.
  • Connect with the representative of the company.
  • Discuss the plan details and submit all the documents.
  • Make the payment using available payment modes.

Note: You can also call an advisor to your home/or connect on the toll-free number. For the same, you have to provide basic details on the official website of the company.

What Is The Claim Process of Aviva Term Insurance?

Claim Process PNB MetLife
  • Visit the official website of the Aviva Life Insurance Company.
  • Take the cursor to the tab 'Customer Service'.
  • Click on the tab 'File a claim'.
  • It will take you to the new tab. Provide your policy number & DOB.
  • Click on the tab 'Submit'.
  • Submit the required documents.
  • Let the company examine your file and they will disclose the result accordingly.
  • On approval, the company will transfer the claim amount directly to the registered account. If the claim is rejected, the company will inform the party over the call/SMS/post.

Documents Required To Register The Aviva Term Insurance Claim

  • Claimant intimation form duly filled and attested by the claimant.
  • Death certificate (original as well as photocopies) issued by a local authority in your area.
  • Id & address proof of the claimant.
  • Cancelled cheque or the photocopy of the claimant's passbook.

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Aviva Term Insurance: FAQs

1. 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.

2. How can I check my policy details?

To check the policy details or claim status, you have to log in to your online account by visiting the official website of the company.

3. 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.

4. 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.

5. 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.

6. 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.

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

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

8. 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.

9. Can I buy Aviva Term Insurance online?

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

Find Out What Customers Are Saying

(Showing latest 5 reviews only)

- 4.9/5 (14 Total Rating)

October 6, 2021

Nayanika Katyal


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

September 21, 2021

Bholu Chaudhary


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

September 20, 2021

Raveena kapoor


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

August 19, 2021

Devna Sharma


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.

August 19, 2021

Anita Kumari


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

Last updated on August, 2021

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