Aviva Life Term Insurance
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Aviva Life Insurance

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Aviva Life Insurance

Overview
Aviva Life Insurance Co. India Limited is a leading insurer in the country. It is a joint venture company founded by the Aviva Group which is one of the largest UK-based insurance entities with a customer base of 33 million across 16 countries and Dabur Invest Corp, an arm of the Dabur Group, one of the country’s most respected business entities.

The company has a network of more than 15, 000 financial advisors and has 107 branches throughout India. The company is one of the first to bring in unit-linked and with-profit policies and partners with DBS Bank and other leading financial institutions.

Aviva Life insurance at a glance
  • Robust product portfolio for all your insurance needs
  • 33 million customers across 16 countries
  • Claim Settlement ratio of 90.60%
  • 13,500 plus insurance advisors
  • Wide distribution network of 108 branches spread across India.
Aviva Life Insurance Co. India Limited Term Plans
There are term plans offered for customers which serve both purposes of insurance and investment. There are several products with extensive coverage and tax benefits along with adequate flexibility. There is the Young Scholar Secure plan along with the Dhan Samruddhi and Wealth Builder plans which take care of diverse objectives.

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 Term Insurance Plans
  • Aviva i-Life Term Insurance Plan: Offers protection for the family as a pure term insurance plan. The minimum Sum Assured under the plan is fixed at Rs. 25 Lakhs, offering life cover at a nominal cost.
  • Aviva i-Shield Term Insurance Plan: A term plan from the house of Aviva Life Insurance offering Life Cover at nominal cost and a payout of 110% of premiums paid at maturity.
  • Aviva LifeShield Advantage Term Plan: A term insurance plan offering coverage along with a payback of premium paid in the event of unfortunate demise.
  • Aviva LifeShield Platinum: A multipurpose term insurance plan allowing the option of Life Cover, Income protection, or Loan Protect as per the preference of the policyholder
  • Aviva LifeShield Plus: A term insurance plan offering comprehensive protection at a nominal cost with a minimum Sum Assured of Rs. 10 Lakhs
  • Aviva i-Life Total: A non linked & non participating life insurance term plan offering 4 options on life cover to choose from with a minimum Sum Assured of Rs. 50 Lakhs.

1: Aviva i-Life Term Insurance Plan: Aviva i-Life Term Insurance Plan offers protection for the family as a pure term insurance plan. The minimum Sum Assured under the plan is fixed at Rs. 25 Lakhs offering life cover at a nominal cost. The plan comes with personal and dedicated claim assistance for easy claims.

Advantages and Benefits
  • Simple term insurance plan designed to offer utmost protection when you are not around
  • Dedicated claim assistance help for faster claims
  • Come with a minimum Sum Assured of Rs. 25 Lakhs making it a comprehensive protection plan
Features Description
Sum Assured Minimum: Rs. 25,00,000
Maximum: No limit (depends on underwriting)
Entry Age Minimum: 18 years last birthday
Maximum: 55 years last birthday
Maturity Age 70 years
Premium Payment Frequency Yearly, half yearly
Policy Term 10-35 years
Premium Payment Term Equal to policy term
Riders Available None
Rebate for Female Lives An additional rebate for female lives of 5% on the tabular Premium rates for male lives.

https://www.avivaindia.com/term-plan/aviva-i-life

2: Aviva i-Shield Term Insurance Plan: Aviva i-Shield is a term plan from the house of Aviva Life Insurance offering Life Cover at nominal cost and a payout of 110% of premiums paid at maturity.

Advantages and Benefits
  • Easy term insurance plan with return of premium
  • 110% of premiums paid out at maturity
  • Premium discounts on choosing Sum Assured of Rs. 20 Lakhs and more
Features Description
Entry Age (Last Birthday) 18 years to 55 years
Maximum Maturity Age (Last Birthday) 65 years
Policy Terms 10 years to 25 years
Premium Payment Term (PPT) Equal to Policy Term
Allowed Premium Payment Frequencies Yearly, Half-Yearly and Monthly
Sum Assured Allowed Rs.15 Lakhs to Rs.5 crores (In multiples of Rs. 25,000, subject to underwriting)
Death benefit when Life Insured dies 1st-10th year: 100% of Sum Assured (SA)
11th-20th year: 110% of Sum Assured (SA)
21st-25th year: 120% of Sum Assured (SA)

https://www.avivaindia.com/term-plan/aviva-i-shield

3: Aviva LifeShield Advantage Term Plan: Aviva LifeShield Advantage is a term insurance plan offering coverage along with a payback of premium paid in the event of unfortunate demise.

Advantages and Benefits
  • Easy term insurance plan with return of premium
  • Rebate for high Sum Assured
  • Option to avail additional protection against accidental permanent total disability
Features Description
Entry Age 18-55 years
Maturity Age 28-65 years
Policy Term 10-30 years
Premium Paying term (PPT) Option A: Single premium or regular premium (equal to policy term)
Option B: Regular premium (equal to policy term)
Sum Assured (SA) Min: Rs. 2 Lakhs
Max: Option A: No Limit, Option B: Rs. 50 Lakhs
Minimum Premium Single: Rs. 12,000
Yearly: Rs. 2400
Half Yearly: Rs. 1250
Quarterly: Rs. 650
Monthly: Rs. 250
Maximum Premium No Limit (as per Sum Assured)

https://www.avivaindia.com/term-plan/aviva-lifeshield-advantage

4: Aviva LifeShield Platinum: Aviva LifeShield Platinum is a multipurpose term insurance plan allowing the Option of Life Cover, Income protection, or Loan Protect as per the preference of the policyholder.

Advantages and Benefits
  • Option to choose from life cover, income protection, or loan protection.
  • Low premium rates for non smokers and healthy lifestyle oriented individuals.
  • Income protection pays outs regular monthly income increasing by 5% per annum to meet higher inflation and rising costs.
  • Entry Age 18-60 years
  • Maturity years: 28-70 years
Easy steps for availing Aviva LifeShield Platinum
Step Description
1 Choose nature of protection plan.
Option A: Life Protect
Option B: Income Replacement
Option C: Loan Protect
2 Choose protection level
Min. Sum Assured: Rs. 50 Lakhs
Max. Sum Assured: No Limit
3 Choose Premium payment term
Option A: equal to policy term
Option B and C: two third of policy term
4 Select premium paying frequency
Yearly, half yearly, quarterly, monthly
5 Know the minimum base premium
Annual frequency: Rs. 3200
Half Yearly: Rs. 1364
Quarterly: Rs. 828
Monthly: Rs. 278

https://www.avivaindia.com/term-plan/aviva-lifeshield-platinum

5: Aviva LifeShield Plus: Aviva LifeShield Plus is a term insurance plan offering comprehensive protection at a nominal cost with a minimum Sum Assured of Rs. 10 Lakhs.

Advantages and Benefits
  • Min Sum Assured of Rs. 10 Lakhs
  • Option to pay a regular single premium or regular premiums
  • Rebate for high Sum Assured over Rs. 25 Lakhs
  • Lower premium rates for female policyholders
Easy steps for availing Aviva LifeShield Plus
Step Description
1 Choose level of protection plan.
Min. Sum Assured: Rs. 10 Lakhs
Max. Sum Assured: No Limit
2 Choose premium paying term of 10-30 years as per entry age
Entry Age: 18-55 years
Maturity Age: 28-65 years
3 Select premium payment frequency
Single: One time
Regular ( equal to policy term): as yearly, half yearly, quarterly or monthly
4 Know the minimum base premium
Single Premium: Rs. 10,000
Annual frequency: Rs. 2000
Half Yearly: Rs. 1200
Quarterly: Rs. 600
Monthly: Rs. 200

https://www.avivaindia.com/term-plan/aviva-lifeshield-plus

6: Aviva i-Life Total: Aviva i-Life Total is a non linked & non participating life insurance term plan offering 4 options on life cover to choose from with a minimum Sum Assured of Rs. 50 Lakhs.

Advantages and Benefits
  • Multiple choices for cover: protect, Protect plus, Protect assured and Protect income
  • Offers Life cover with in-built terminal illness benefit
  • Offers return of 120% of all premiums paid on maturity
  • Life cover doubles on accidental death
Features Description
Entry Age 18-60 years for protect assured option
18-65 years for all other options
Maximum Maturity age 70 years with Aviva critical illness rider
75 years without rider
Min Premium Rs. 3525 excluding tax
Policy term Protect: 10-57 years
Protect plus: 10-57 years
Protect Assured: 15-30 years
Protect income: 10-57 years
Sum Assured Protect: Rs. 50 Lakhs- no limit
Protect plus: Rs. 50 Lakhs- no limit
Protect Assured: Rs. 50 Lakhs- no limit
Protect income: Rs. 50 Lakhs- Rs.1,00,00,000 per life
Premium frequency Monthly, quarterly, half yearly, yearly

https://www.avivaindia.com/term-plan/aviva-i-life-total