Aviva Young Scholar Secure Plan

Aviva Young Scholar Secure is a non-linked non-participating insurance plan specially designed to provide for the future educational landmarks of a child. This plan offers guaranteed returns and ensures annual cash inflows to meet the ever-rising educational costs of a growing child.

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Investing in your child's future:A wise decision & a loving choice
  • Insurer pays premium in case of loss of life of parent

  • Create wealth for child’s aspirations

  • Tax Free maturity amount+

  • 12+ plans available

Nothing Is More Important Than Securing Your Child's Future

Invest ₹10k/month your child will get ₹1 Cr Tax Free*

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Aviva Young Scholar Secure Features

  • The premiums as well as the returns are fixed in this policy, making it a Guaranteed Plan.

  • Policyholders have four plan options to choose from depending on the premium amount they can afford.

  • The policy offers educational pool guarantee that ensures the financial support for the child’s educational milestones.

  • The policy helps policyholders secure the future of their children in case of their absence.

  • The policy has an inbuilt Aviva Term Plus Rider to secure the future of the beneficiary (child) in case of accidental or natural death of the policyholder.

Benefits of Aviva Young Scholar Secure

  • Survival Benefit is payable in two forms:

    • Tuition Fee Support Benefit – The policyholder receives guaranteed payouts from the maturity date of the plan till the child reaches 17 years of age.

    • College Admission Fund – A lump sum amount paid out when the child turns 18 years. The money can be used for college admissions of the child.

    • At the age of 21, the child receives the Higher Education Reserve, which helps provide funds for post-graduation expenses.

  • When the policy matures, the policyholder receives the Maturity Benefit, which is the Sum Assured minus the amount already paid out as part of the Tuition Fee Support and College Admission Fund.

  • In an unfortunate event of the policyholder’s death, the nominee (child) receives the Death Benefit that is higher amongst the Maturity Sum Assured, 10x of the annual premium and 105 per cent of the premiums paid. All the future premiums are then waived off and paid by the insurer. The plan remains active and the child receives all the future benefits.

  • The policy also offers tax benefits on the premiums paid and on the Death Benefit received as under the section 10 (10D) and 80(C) of Income Tax Act, 1961.

Product Specification Aviva Young Scholar Secure 

  Minimum Maximum
Policyholder’s age at Entry (complete) Parent (life insured): 21 – 50 years
Child (nominee/beneficiary): 0 – 12 years
Policyholder’s age at maturity (complete) - 71 years
Policy Tenure (21 – child’s entry age) years
Premium Payment Term For child entry age 0 – 8: 13 years minus age of child
For child entry age 9 – 12: 5 years
Premium Paying Frequency Yearly, Half-yearly, Monthly
Annual Premium Dependent on Option chosen:
Silver – Rs. 25000
Gold – Rs. 50000
Diamond – Rs 100000
Platinum – Rs. 200000
Rs. 400000
Rs. 600000
Rs. 800000
Sum Assured Dependent on Option Chosen

Investment Investment
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₹1 Crore*
*Standard T & C Apply

Details about Premium

Age of life insured (Yrs) Policy year Annual Premium (Rs.) Guaranteed Survival Benefit  (Rs.) (at year end) Guaranteed Death Benefit  (Rs.) Guaranteed Maturity Benefit (Rs.) (at year end)
25 1 250000 - 537500 -
26 2 250000 - 537500 -
27 3 250000 - 537500 -
28 4 250000 - 537500 -
29 5 250000 - 537500 -
30 6 250000 - 537500 -
31 7 250000 - 537500 -
32 8 250000 - 537500 -
33 9 250000 - 537500 -
34 10 250000 - 537500 -
35 11 250000 - 537500 -
36 12 250000 15000 537500 -
37 13 - 15000 537500 -
38 14 - 15000 537500 -
39 15 - 15000 537500 -
40 16 - 15000 537500 -
41 17 - 40000 537500 -
42 18 - - 537500 -
43 19 - - 537500 -
44 20 - - 537500 422500
Invest More Get More
Invest ₹10K/Month YOU GET ₹1 Crores* For Your Child View Plans
Invest ₹8K/Month YOU GET ₹80 Lakhs* For Your Child View Plans
Invest ₹5K/Month YOU GET ₹50 Lakhs* For Your Child View Plans
Standard T&C Apply *

Aviva Young Scholar Secure Details

  • Grace Period: The policy offers a limited period of time, i.e. 30 days since the date due for the payment of unpaid premiums. The Grace Period, in case of monthly payment mode, is 15 days. This insurance policy lapses in case the initial 2 years’ premiums have not been paid within the given Grace Period.

  • Surrender Benefit or Policy Termination: This insurance policy can be surrendered after the completion of 2 policy years, provided all the premiums have been duly paid. In case the policy has not been reinstated before the revival period is over, the insurance policy shall be terminated. The policy also gets terminated in case of payment of Death Benefit or Maturity Benefit.

  • Free Look Period: The insurers allow the insured with a limited period of 15 days since the receipt date of the policy documents, in order to review the terms and benefits of the policy. This period is known as the free look period. In case the insured decides not to keep this policy, he/she may cancel it within this period. The insurer would pay back the customer the premiums that he/she had paid after subtracting the premium for the number of days that insurer has borne the risk for and additional expenses, such as medical test expenses, stamp duty charges, etc.

Additional Features or Riders

  • This policy has a special rider that can be availed at the time of inception. It is called the Aviva Term plus Rider, which helps to optimize the protection given by the policy. The Sum Assured, under the rider, cannot exceed the Base Sum Assured, and the rider premium should not exceed 30% of the base premium.

  • Reinforcement of a lapsed insurance policy is possible in case the insured files a reinstatement request within a timeframe of two years from the date of the first unpaid premium.

  • Suppose the insured pays regular premiums for 2 years and stops paying premiums after that. If this continues till the Grace Period is over, then the policy will acquire its Paid-up Value.

Exclusions under Aviva Young Scholar Secure

Term insurance coverage becomes void in the event of the policyholder (sane or insane) committing suicide in the first policy year. The insurer, in such a scenario, shall refund 80 per cent of the total amount of premiums paid till date. In event of the policyholder committing suicide in the first year since the reinstatement of the policy, the insurer will refund the higher amongst 80 per cent of the already paid premiums or the Surrender Value.

Documents Required

The insured needs to fill up the Application Form and submit it along with:

  • A copy of his passport, driving license, passport, or any other photo ID proof

  • A copy of Form 1, salary slips of previous 3 months, or the last filed ITR as a proof of income.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.

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