The Aviva Life Protection Plans are the best plans to protect you and your Family. The Aviva Life Insurance India has provided eight different types of protection Plans for the customers. The Life Assured can choose one of the Aviva Insurance Protection Plans which Suits for them. Check all the details regarding the eight Aviva Life Insurance Protection Plans given below.
Aviva Life Protection Plans
You work hard to provide the best Life for your family and want to their happiness lasts forever. The most important next step is that you want to make your Family protected financially in the future as well. So for those people, Aviva presents the latest Protection Plans. As we know, many of the families have a sole earner. If anything happened to him/ her, their family would disturb economically as well as psychologically. So to avoid all the uncertainties, we need to protect our family financially. So by taking one of the Aviva Life Protection Plans, your Family will get Secured economically with you or without you.
Every person wants to protect their family Financially. A regular source income gives some security to our family at present, but with the regular source of income, one cannot estimate the future. So you need to provide some extra security to your loved ones to live happily in the Future. For those people, Aviva Life Protection Plans provides the safeguard for your family in the Future. With the Aviva Life Insurance Protection Plans, you can provide financial security to your family members so that you can fulfil their dreams.
Aviva Life Insurance India Protection Plans
The Aviva Life Insurance Company has provided eight Protection Plans for the Customers to secure their family & Loved ones. Therefore, Aviva Life India Protection Plans given below.
- Aviva I Life Protection Plan.
- Aviva I Shield Protection Plan.
- The Aviva LifeShield Advantage Protection Plan.
- The Aviva Life Shield Platinum Protection Plan.
- Aviva Life Shield Plus Protection Plan.
- Aviva Sampoorna Suraksha Protection Plan.
- The Aviva Extra Cover Protection Plan.
- Aviva I Life Secure Protection Plan.
Aviva I Life Protection Plan
The Company Provides Aviva I Life Protection Plan, to ensure your families are secure and lead a comfortable life. So check all the Details regarding the Aviva i-life Protection Plan like benefits, Features & Eligibility given below.
Aviva I Life Plan Benefits
Death Benefit:
If the unfortunate death of the Policyholder during the Policy term, the Sum Assured will be paid to the beneficiary in your family to take care of their future needs.
Maturity Benefit:
There is no maturity Benefit under this Plan because it is a Pure Protection Plan.
Tax Benefit:
Tax Benefits are applicable as per Section 80C. The Tax laws are subject to change.
Aviva Insurance i-Life Protection Plan Features
- The Aviva I Life Protection Plan Covers death by any reason.
- Life cover at a nominal cost.
- Personal and dedicated claim assistance.
Aviva I Life Insurance Protection Plan Eligibility Criteria
| 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 | Maximum: 70 years last birthday. |
| Premium Payment Frequency | Yearly, Half-Yearly. |
| Policy Term | Minimum: 10 years.
Maximum: 35 years. |
| Premium Payment Term | Equal to the Policy Term. |
| Payment Frequency | Yearly, Half-Yearly (the modal factors are: 1.0000 & 0.5108 respectively). Alteration between Yearly and Half-Yearly modes of Premium payment is allowed at any Policy anniversary subject to payment of alteration charge which is Rs. 100/– at present and subject to review from time to time. |
| Riders Available | None |
| Rebate on Large Sum Assured | Premium rates depends on the size of the Sum Assured ranges – less than Rs. 50 lacs, Rs. 50 lacs to less than Rs. 1 crore, Rs. 1 crore to less than Rs. 5 crore and Rs. 5 crore & above. Please refer to the Premium quotation for the instalment Premium for your proposal. |
| Rebate for Female Lives | An additional rebate for female lives of 5% on the Premium tabular rates for male lives. |
For More details regarding the Aviva I Life Protection Plan, Check the Broucher.
Aviva I Shield Protection Plan
The Aviva I-Shield Protection Plan is a term assurance plan with return of premium that protects your family in case you are not around. Check all the Details of Aviva Life Insurance i-shield protection Plan like Benefits, Features & Eligibility Criteria given below.
Aviva Life I Shield Protection Plan Benefits
Death Benefit:
On the unfortunate death of the Life Assured during the Policy term chosen by the Policyholder then nominee will receive an assured amount.
The assured amount payable on Life Insured death shall be highest of:
- 10 times of the annualised Premium (excluding taxes and extra Premiums, if any), or
- 105% of all the Premiums paid (excluding taxes and extra Premiums, if any) as on the date of death, or
- The amount payable on the maturity of the Policy, or
- Assured Death Benefit.
After payment of the death benefit, the Policy will terminate.
Maturity Benefit:
If you survive till the Policy date of maturity and pay all due regular Premiums, you will receive 110% of all Premiums paid excluding all the taxes and extra Premiums, if any.
Survival Benefit:
After completion of three Policy years, you can surrender your Policy any time provided at least three full Policy year Premiums have been paid.
- Surrender Value payable is greater of the Guaranteed Surrender Value (GSV) and Special Surrender Value (SSV).
- GSV = GSV factor X sum of Premiums paid till date. GSV factors are as per the table annexed.
- SSV = 110% of Premiums paid x Special Surrender Value (SSV) Factor.
- Taxes and extra Premiums, if any, will be excluded from Premiums paid for calculating GSV and SSV.
- The Company can change the Special Surrender Value Factors (SSV) from time to time.
- To know the current Special Surrender Value of your Policy, you can contact the nearest branch or customer services team of the Company.
Aviva i-Shield Insurance Protection Plan Features
- Aviva i-Shield Protection Plan is a Non-Linked Non-Participating Term Insurance Plan with Return of Premium.
- Life Cover at a nominal cost.
- Get 110% of premiums paid at maturity.
- Tax Benefits on all premiums paid & Payouts.
Aviva I Shield Protection Plan Eligibility Criteria
| Entry Age of Life Assured | Minimum: 18 years (Last birthday).
Maximum: 55 years (Last birthday). |
| Maximum Maturity Age | 65 years (Last Birthday). |
| 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 | Minimum: 15 lakhs.
Maximum: 5 crores. (In multiples of Rs. 25,000, subject to underwriting) |
Aviva LifeShield Advantage Protection Plan
The Aviva LifeShield Advantage Protection Plan Provides a comprehensive protection for your family in case you are not around. By taking the Aviva Life Insurance Shield Advantage Protection Plan, you can protect your family and also get your Premiums back.
Aviva Life Shield Advantage Protection Plan Benefits
Maturity Benefit:
Under this Aviva Life Insurance Shield Protection Plan, Maturity Benefit is a return of premiums Paid excluding taxes and extra premiums paid, if any. There is no interest paid on the sum of premiums.
Death Benefit:
If the unfortunate death of the Policyholder during the Policy term, provided all the due premiums Paid till the date of the death, the Sum Assured will be paid to the beneficiary/ nominee in your family to take care of their future needs. So that your Policy will terminate.
Aviva LifeShield Insurance Advantage Protection Plan Features
- Aviva LifeShield Advantage Protection Plan is a Non-Linked, Non-participating Protection Plan with an assured return of premium at maturity.
- Return of premiums paid at maturity.
- Protection to your family at a nominal cost.
- Rebate of high sum assured.
- Tax Benefits on all premiums paid & Payouts.
Aviva Life Shield Advantage Plan Eligibility Criteria
| Entry age of Life Assured | Minimum: 18 years.
Maximum: 55 years. |
| Maturity age | Min: 28 years.
Max: 65 years. |
| Policy Term | 10 to 30 years. |
| Premium Paying Term |
Option A: Single Premium or Regular Premium (equal to Policy term). Option B: Regular Premium (equal to Policy term). |
| Sum Assured | Minimum: Rs. 2,00,000/–
Maximum: Option A: No Limit. Option B: 50 Lacs. |
| Premium Frequency |
|
| Minimum Premium (Depends on the premium frequency) | Single: Rs. 12,000/-
yearly: Rs. 2,400/- Half-yearly: Rs. 1,250/- Quarterly: Rs. 650/- Monthly: Rs. 250/- |
| Maximum Premium | No Limit (depends on the Sum Assured). |
For More information Regarding this Plan, Check Aviva Life Shield Advantage Protection Plan Broucher.
Aviva Life Shield Platinum Protection Plan
Aviva LifeShield Platinum Protection Plan Benefits
Death Benefit:
1. Option A: Life Protection
- Under this Aviva Life Shield Platinum Protection Plan, In Case of unfortunate death during the policy term, the Sum Assured is paid out to the nominee as a lump sum.
2. Option B: Income Replacement
- In Case of unfortunate event of the Life Assured death, then the nominee will receive a monthly income till the end of the Policy Term.
3. Option C: Loan Protection
- Under this option, the life cover reduces every year over the term policy.
So, Death Cover in-force will be equal to
Sum Assured – ( Sum Assured x No. of Policy Anniversaries Elapsed till the date of Death/ Policy term).
Maturity Benefit:
Under this Plan, No Maturity Benefit is Payable because it is a pure insurance policy.
Surrender Benefit:
After the premium payment term, if all the due premiums paid for option-B & option-C then a special surrender value is payable on premature surrender of the policy.
Aviva Life Insurance India Shield Platinum Plan Features
- The Aviva Life Shield Platinum Plan is a Protection plan.
- The option of Life Cover, Income Protection, or Loan Protect are the 3 options available under this Plan.
- Nominal cost is available in this plan.
- Tax Benefits on all premiums paid.
Aviva Life Shield Platinum Protection Plan Eligibility Criteria
| Entry age of Life Assured | Min: 18 years.
Max: 60 years. |
| Maturity Age | Min: 28 years.
Max: 70 years. |
| Policy Term | 10 to 52 years |
| Premium Paying Term | Option A: Equal to Policy term.
Options B & Option C: two third of the Policy Term. |
| Choose the Nature of the Protection required | The Option A: Life protection.
Option B: Income Replacement. Option C: Loan Protection. |
| Sum Assured | Minimum: Rs. 50 lacs
Maximum: No Limit. |
| Select the premium frequency | Yearly, Half-yearly, Quarterly, Monthly Frequencies. |
For more information regarding this Plan, Check Aviva Life Shield Platinum Plan Broucher
Aviva Life Shield Plus Protection Plan
The Aviva Life Shield Plus Protection Plan Unique Identification Number is UIN: 122N064V02. Aviva Life Shield Plus Plan provides Comprehensive protection at a nominal cost. So check all the details of Aviva Life Insurance Shield Plus Protection Plan here.
Check the Aviva Life India Shield Plus Protection Plan Broucher for more information.
Aviva Sampoorna Suraksha Protection Plan
The Aviva Sampoorna Suraksha Protection Plan Unique Identification Number is UIN: 122N107V01. Aviva Life Sampoorna Suraksha Plan is a Non-Linked Non-Participating life Insurance plan that secures your family’s future. So check all the details of Aviva Life Insurance Sampoorna Suraksha Protection Plan here.
Click here for Aviva Life Sampoorna Suraksha Protection Plan Broucher for more details
Aviva Extra Cover Protection Plan
The Aviva Extra Cover Protection Plan is a Combo Plan. Aviva Life Extra Cover Protection plan is the unique combination of Aviva I Life & Aviva Health Secure Plan. Aviva Extra Cover Protection Plan gives you comprehensive protection with a life cover at nominal cost and pays you a lump sum on diagnosis of 12 critical illnesses.
Click here for Aviva Life Insurance Extra Cover Plan, for more information.
Aviva I-Life Secure Plan
Aviva Life Protection Plans Premium Calculator
With the help of Aviva Life Insurance Premium Calculator, you can quickly calculate the Premium amount, Death Benefit, Maturity Benefit, Survival Benefit, Rider and also other factors of Aviva Life Protection Plans. To calculate the premium amount, you need to enter some values such as Policy period, Age and Sum assured, etc.
Aviva Life Insurance Policy of Protection Plans Buying Procedure
To buy this Aviva Life Protection Plans, you need to visit the nearest Aviva Life Insurance India Branch or the official website. Buying or paying premium through online is as easier than doing it in offline.The documents required to buy a new Aviva Life India Protection Plan are
- Application form/ Proposal form along with the photo.
- Address proof.
- Date of Birth certificate.
- Medical reports (if required).
Aviva Life Insurance India Protection Policy Claim Procedure
For claiming the Aviva Life India Protection Plan, you may visit the nearest Branch Office. And can also visit the Aviva life Protection Plans official website. Claiming for a benefit through online is as easier than doing it in offline. The documents required for the Claim Process given below.
- NEFT Form.
- Discharge Form.
- Cancel check or Bank Passbook xerox.
- Policy bond.
- Death certificate.
Additional Features on Aviva Life Protection Plans
Grace Period:
In case you have missed paying your premium by the due date, the Grace Period will allow in one month but not less than 30 days for yearly, half-yearly, quarterly modes and 15 days for the Monthly Mode of Premium Payment.
In the case of Policyholder death during the Policy grace period, your policy will be in force and will pay the Death Benefit under this Aviva Life Protection Plans.
Free Look Period:
You may return the policy to the corporation within 15 days from the date of the receipt of the policy in case of dissatisfaction with policy conditions and terms.
Policy Revival:
If you have not paid any premiums within the grace period, then the policy will lapse. That lapsed policy may revive during the lifetime of the policyholder, but within a period of 2 consecutive years from the date of first unpaid premium and before the maturity date.
Suicide Clause: If the life insured commits suicide at any time within 12 months from the commencement of risk, then the Aviva life Insurance company will not allow any claim under this Aviva Life Protection Plans. Instead, he/ she will return to 80% of premiums he paid excluding all taxes and extra premium if any.
Taxes: As per extant tax laws, the Aviva Life Protection plans offers tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961.
Assignments/ Nominations: As per section 39 of Insurance Act, 1938, at the proposal stage, a nomination can make in the policy. As per section 38 of Insurance Act, 1938, on a subsequent assignment, the notice of assignment or change of nomination should submit to the corporation for registration.