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Aviva Life Insurance

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Aviva Life Insurance

Overview
Aviva Life Insurance Co. India Limited is one of India’s most respected insurance companies and has been established by the Dabur Group and Aviva Group. The latter has 33 million customers in 16 countries and is a major life insurance entity based in UK while the former is a leading provider of healthcare products in India. Insurance products offered by the company include endowment plans, child plans, investment plans and pension plans.

There are more than 15, 000 financial advisors at the company and it also has a gargantuan network of 107 branches. There are partners like DBS Group for distribution of products and the company is known for its commitment towards customer satisfaction above all else.

Aviva Life insurance at a glance
  • Competitive in both protection and investment planning
  • Strong bancassurance partners
  • Over 33 million customers spread in 16 countries
  • Strong Claim Settlement ratio of 90.60%
  • Wide presence with over 108 branches spread across India.

Aviva Life Insurance Co. India Limited Pension Plans
There are many pension plans offered by Aviva Life Insurance to customers. These help in creating a sizeable retirement corpus along with ensuring regular income and protection for the entire family in case of death or any other mishap. These plans help in getting a regular income even after retirement.

Documentation needed to apply for Aviva Life insurance
  • Age proof - (Any One)
    Driving License, Passport, Voter ID Card, Birth Certificate, etc
  • Identity proof – (Any One)
    Driving License, Passport, Voter ID card, PAN Card, Aadhar Card, or any document which proves citizenship
  • Income proof
  • Address proof – (Any One)
    Driving License, Passport and Utility Bill should clearly mention the permanent address
  • Income proof – (Any One)
    Salary Slip, Form 16, ITR
  • Recent passport size photograph

Aviva Life Pension Plan
  • Aviva Annuity Plus: A traditional pension plan offering guaranteed annuity for the life of the policy. The plan offers a selection from 7 annuity options as per the preference of the policyholder.
  • Aviva Next Innings Pension Plan: A traditional pension plan aimed at making the sunset years financially secure. The plan offers an assured income for post retirement years and a guaranteed lump sum of 210% of premiums paid at maturity.

1: Aviva Annuity Plus: Aviva Annuity Plus is a traditional pension plan offering guaranteed annuity for the life of the policy. The plan offers a selection from 7 annuity options as per the preference of the policyholder.

Advantages and Benefits
  • Traditional insurance plan designed for post retirement income
  • Option to select from 7 annuity options to suit specific financial needs
  • Annuity amount payable is guaranteed for the life of the Policy
  • Option to top-up your pension plan proceeds to increase the annuity amount payable
Features Description
Entry Age 18-80 years
Purchase price Min: Rs.25,000-Max: No limit
Annuity installment Minimum Rs. 500 for any of the annuity frequency chosen
Annuity frequency Yearly, Half yearly, Quarterly, Monthly (The mode can be changed on any Policy anniversary by giving the written notice at least 45 days in advance)

https://www.avivaindia.com/retirement-plan/aviva-annuity-plus

2: Aviva Next Innings Pension Plan: Aviva Next Innings Pension Plan is a traditional pension plan aimed at making the sunset years financially secure. The plan offers an assured income for post retirement years and a guaranteed lump sum of 210% of premiums paid at maturity.

Advantages and Benefits
  • Assured lump sum of 210% of premiums paid at maturity
  • Limited premium term along with death benefits for the family
Features Description
Entry Age 42-60 years
Vesting age 55-78 years
Policy term 13-18 years
Policy payment term Single, 5 years and 10 years
Min-Max Premium Single: Rs. 1.5 Lakhs
Limited: Rs. 50,000
Maximum: Rs. 5 crore
Premium payment frequency Single, annual, half yearly, monthly

https://www.avivaindia.com/retirement-plan/aviva-next-innings-action-plan