Aviva Life Insurance is one of the leading life insurance companies in India. It 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. It crafts simple and effective products that help its customers to achieve their life goals. The company aims to provide the finest customer experience and the highest levels of service through digital innovations. Aviva offers two effective term insurance plans, which are explained below.
It is an individual, non-linked and non-participating savings life insurance plan. This plan not only safeguards your family after your death but also financially supports you in case of permanent disability during the term of the policy.
Key Features
Protection For The Family: Aviva LifeShield Advantage offers total protection to your family at an affordable cost so that their financial needs are taken care of even in case of your demise.
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.
Two Categories of Protection: Under this plan, you get the opportunity to choose from two categories of protection:
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 age | 18 years to 55 years |
| Maturity age | 28 years to 65 years |
| Policy term | 10 years to 30 years |
| Premium Paying Term (PPT) | Option A: Single Premium or Regular Premium (equal to Policy Term) Option B: Regular Premium (equal to Policy Term) |
| Premium frequency | Single-Premium (available only under Option A) Yearly, Half Yearly, Quarterly & Monthly frequency are available for Regular Premium option (only ECS/ Direct Debit allowed for Quarterly & Monthly modes) |
| Sum Assured (SA) | Minimum: 35,00,000 Maximum: Option A - No limit Option B - 50 lacs |
**Last Updated on 27-01-2021
Aviva Jana Suraksha is an affordable term insurance plan that offers comprehensive financial protection for your children/dependents with the help of affordable insurance and guaranteed lump sum amount in case of your death during the term of the policy.
Key Features:
Eligibility Criteria
| Entry age | 18 years to 45 years |
| Policy Term | 5 or 10 years, subject to the maximum maturity age of 50 or 55 years respectively |
| Premium payment term | Single-premium or Equal to the policy term |
| Annual Premium | Depends on life cover |
| Premium Payment Frequency | Single, Annually, Half-yearly, Quarterly or Monthly |
**Last Updated on 27-01-2021
The company comes out with multiple riders to enhance the basic cover for better coverage. Let's discuss them in detail.
This rider offers additional protection along with the base plan. The amount will be equal to the rider sum assured in case of death of the life insured.
Critical illness insurance and disability rider provide you with a lump sum of money if you are diagnosed with listed critical illness or disability.
You can invest in Aviva Term Insurance Plans by visiting any branch of the Aviva Life Insurance. Just follow the below steps-
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.
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.
Last updated on 27-01-2021
