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Aviva Life Insurance

Aviva Life Insurance Company is a joint venture between Dabur Invest Corp and Aviva Group. Aviva Life Insurance offers a comprehensive range of life insurance plans that provide a protective shield for your loved ones, ensuring their future is secure and safeguarded against life's uncertainties. In this article, let’s learn more about Aviva Life Insurance, its benefits and plans.

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What Is Aviva Life Insurance?

Aviva Life Insurance is one of the leading insurance companies in the Indian Private Sector. It offers various insurance products such as life, savings, wealth, protection, and retirement to help individuals and families protect their financial future in the event of life's uncertainties. You can easily check the premium rates of Aviva Life Insurance plans online. With a Claim Settlement Ratio (CSR) of 98.75% in the financial year 2022-23, Aviva Life Insurance is one of the country's top and most trustworthy insurance companies. 

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₹1
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Life Cover

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₹50
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Life Cover

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₹75
LAKH

Life Cover

@ Starting from ₹ 12/day+

Why Should You Buy Aviva Life Insurance Plan?

You should buy Aviva Life Insurance plan because of the following reasons:

  • Financial Security for Your Loved Ones: Aviva Life Insurance plans are specially designed to provide financial protection and peace of mind to your loved ones in case of an unfortunate event. The payout from the life insurance plans can help your family maintain their lifestyle, cover essential expenses, and even achieve long-term financial goals like education and retirement.

  • Comprehensive Coverage Options: Aviva Life Insurance offers a wide range of insurance products tailored to suit various life stages and needs. Whether you're looking for pure protection with term insurance, wealth creation through investment-linked plans, or comprehensive coverage with a whole-life policy, Aviva has you covered. Their diverse portfolio ensures you can find a plan that aligns perfectly with your financial goals and requirements.

  • Guaranteed Returns: Aviva Life Insurance, notably Savings and retirement plans, ensures you receive guaranteed returns when your plan matures. As you pay your premiums over time, your savings grow. Upon maturity, you can choose to receive this accumulated amount either as a one-time lump sum or as a regular income.

  • Affordable Premiums: Aviva Life Insurance offers comprehensive plans, like term insurance plans, at very affordable premiums, so that you can financially secure your loved ones without any hassle. 

  • Tax Benefits: Opting for Aviva Life Insurance plans can also provide you with tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961. This means you can secure your financial future and enjoy tax advantages while doing so, making Aviva a smart choice for your insurance needs.

  • 4-Hour Express Claim Settlement: With ‘Express Claims’, Aviva provides claim settlement to the nominees of the deceased policyholders within 4 hours of claim intimation.

What Are The Types ofLife Insurance Plans Offered By Aviva Life Insurance?

The various life insurance policies in multiple segments offered by Aviva Life Insurance are as follows: 

  • Term Insurance Plans

  • Savings Plans

  • ULIP Plans

  • Retirement Plans

  • Child Plans

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Aviva Term Insurance Plans

Term Plan Entry Age Maturity Age Sum Assured
Aviva Signature 3D Term Plan 18 to 65 years 99 years Rs. 5 Lakhs to No Limit
Aviva Protection Plus Plan 20 to 65 years 80 years Rs. 20 Lakhs to No Limit
Aviva Jana Suraksha Plan 18 to 45 years 55 years Rs. 25 Thousand to No Limit
Aviva Saral Jeevan Bima Plan 18 to 65 years 70 years Rs. 5 Lakhs to Rs. 25 Lakhs

Let’s learn more about Aviva Term Plans in detail: 

  1. Aviva Signature 3D Term Plan

    Here are the key features of this plan:

    • Comprehensive financial protection for your family.

    • Waiver of Premiums in case of Critical/Terminal Illness (applicable with Aviva New Critical Illness Rider and 3D-Accelerated option).

    • Additional Sum Assured on Accidental Death (choose Aviva Accidental Casualty Rider for this option).

    • Option to buy the policy under MWP Act to prevent wrongful claims of Life Insurance monies.

    • Receive up to Rs. 1 Crore of life coverage upon diagnosis of any terminal illness (if the 3D-Accelerated option is chosen).

    • Choose from 4 plan options:

      • 3D Pure Term

      • 3D Family Plus

      • 3D Accelerated

      • 3D Trop

    • Receive a payout upon the first diagnosis of any covered critical illness (with Aviva New Critical Illness Rider or Aviva Cancer Cardio Rider options).

    • Special premium rates for females and non-tobacco users (for Sum Assured more than Rs. 50.50 Lacs).

    • Get back all premiums paid on survival till maturity with the Return of Premium option.

  2. Aviva Protection Plus Plan

    Here are the key features of this plan:

    • Enriched Protection Option:

      • Provides enhanced life insurance coverage.

      • Offers flexibility to receive, on maturity, the maturity sum assured equal to the Total Premiums Paid# for Basic Death Sum Assured if the insured survives till maturity.

      • Total Premiums Paid includes all premiums received, excluding extra premium, rider premium, and taxes. Extra Premium refers to the additional amount charged for extra mortality risk.

    • Savings Booster Option:

      • Provides life insurance coverage throughout the policy tenure.

      • Offers a higher proportion of total premiums payable upon maturity (110%, 120%, or 125%, excluding any extra premium and taxes) based on the option chosen by the policyholder.

    • Rebate for High Sum Assured:

      • Enjoy a premium rebate for opting for higher levels of Sum Assured.

  3. Aviva Jana Suraksha Plan

    Here are the key features of this plan:

    • Affordable Premiums: Low-cost life insurance plan with lump sum payout on death.

    • Payment Options: Choose between regular or single premium payments; no further premium for single payment.

    • Eligibility: Available for individuals aged 18 to 45 with policy terms of 5 or 10 years.

    • Coverage Amount: Minimum sum insured of ₹30,000 (Regular Premium) or ₹25,000 (Single Premium) to a maximum of ₹50,000.

    • Death Benefit: Sum insured paid to nominee; accidental death results in double the sum insured.

    • No Medical Tests: Not required for policy issuance.

    • Tax Rebate: Premium payments eligible for tax rebate under section 80C of the Income Tax Act, 1961.

  4. Aviva Saral Jeevan Bima Plan

    Here are the key features of this plan:

    • Death Benefit: Nominee receives the highest payout in case of policyholder's demise during the term.

      • For regular or limited premium policies: Death sum assured or 105% of Total Premiums Paid.

      • For single premium policies: Death sum assured or 125% of Total Premiums Paid.

    • Tax Benefits:

      • Premiums paid for Aviva Saral Jeevan Bima qualify for tax benefits under section 80C and 10(10)D.

      • Tax benefits are subject to existing laws and may change.

    • Revival of Lapsed Policies:

      • Lapsed policies can be revived within five years from the date of the first unpaid instalment of regular/limited premium.

 Aviva Savings Plans

Term Plan Entry Age Maturity Age Sum Assured
Aviva Signature Guaranteed Income Plan 8 to 60 years 60 years
Aviva Nivesh Bima Plan 13 to 60 years 55 years Max Death SA: Rs. 11 Crores

Max Maturity SA: Rs. 24.4 Crores
Aviva New Wealth Builder Plan 6 to 60 years 80 years Max Death SA: Rs. 11 Crores

Max Maturity SA: Rs. 22.4 Crores
Aviva New Family Income Builder Plan 6 to 50 years 62 years Rs. 24 Crores (maximum annual premium of Rs. 1 Crore X 24)
POS Aviva Dhan Suraksha Plan 18 to 50 years 61 years Rs. 1.45 Lakhs to Rs. 9.93 Lakhs

Let’s learn more about Aviva Savings Plans in detail: 

  1. Aviva Signature Guaranteed Income Plan

    Here are the key features of this plan:

    • Guaranteed Returns: Assured returns through interim and lump sum payouts.

    • Multiple Payout Options: Choose from Early Income, Deferred Income, or Lump Sum options.

    • Payment Options: Flexible payment choices tailored to your preferences.

    • Guaranteed Additions: Enjoy guaranteed additions throughout the policy term.

    • Loyalty Additions: Loyalty additions enhance policy benefits over time.

    • Tax Benefits: Avail tax benefits under applicable regulations.

    • Comprehensive Benefits: Provide both death and maturity benefits.

  2. Aviva Nivesh Bima Plan

    Here are the key features of this plan:

    • Guaranteed Lump Sum Payouts: Receive 10% of Maturity Sum Assured at regular intervals.

    • Milestone Lump-Sum Benefit: Obtain lump-sum benefits to achieve important milestones.

    • Guaranteed Benefits till Maturity: Benefits remain secure regardless of interest rate fluctuations.

    • Flexible Policy Terms: Choose from policy term options of 10, 15, or 20 years.

    • Accidental Death Coverage: Opt for additional coverage against accidental death with an extra amount and the accidental death benefit option.

  3. Aviva New Wealth Builder Plan

    Here are the key features of this plan:

    • Payout on Death: Protect your family with a sum assured payout on the unfortunate death of the insured, given all due premiums are paid until death.

    • Payout at Maturity on Survival: Eliminate uncertainty; know the exact payout upon surviving till the end of the policy term.

    • Higher Maturity Payout: Experience an increased maturity payout on survival for premiums exceeding ₹2,50,000.

  4. Aviva New Family Income Builder Plan

    Here are the features of this plan:

    • Guaranteed Income for Self:

      • Pay annual premiums for 12 years and receive double the premiums paid over the next 12 years.

      • Annual payouts of 1.5 times the premium from the 13th to the 24th year.

      • Additional benefit of 6 times the annual premium with the last payout at the end of the 24th year.

      • Guaranteed Terminal Benefit based on age at entry after the premium payment term.

    • Guaranteed Income for Family in Case of Death:

      • In case of death during the policy term, the nominee receives 12 annual installments of 1.5 times the annual premium.

      • The first installment is paid at claim settlement, followed by 11 annual installments on each death anniversary.

      • An additional benefit of 6 times the annual premium is payable with the last installment on the 11th death anniversary.

      • The nominee also receives the Guaranteed Terminal Benefit along with the first payout.

  5. POS Aviva Dhan Suraksha Plan

    Here are the features of this plan:

    • Death Benefit: Non-Accidental Death During Waiting Period: 100% of Total Premiums paid. Accidental or Post-Waiting Period Death: Death Sum Assured provided all due premiums are paid.

      • 5 annual instalments of 1.5 times the annual premium, starting at death and continuing on each subsequent death anniversary.

      • Lump sum of 7 times the annual premium with the 5th instalment.

      • Age-related Guaranteed Terminal Benefit with the last payout.

    • Maturity Benefit: Survival till Policy Term End: Maturity Sum Assured provided all due premiums are paid.

      • 5 annual payouts of 1.5 times the annual premium during a 5-year Payout Period, starting from the maturity date.

      • Lump sum of 7 times the annual premium with the 5th instalment.

      • Age-related Guaranteed Terminal Benefit with the last payout.

    • Tax Benefit: Policy offers tax benefits under the Income Tax Act, 1961, subject to prevailing laws and potential changes.

Aviva ULIP Plans

Term Plan Entry Age Maturity Age Sum Assured
Aviva Affluence Plan 2 to 50 years 70 years Max: 10 times the Annualized Premium
Aviva Signature Investment Plan 91 days to 60 years 80 years Single Premium : 10 times, 5 times or 1.25 times (chosen at inception) of Single premium
Regular Premium : 7 times or 10 times of Annualized premium
Aviva Signature Investment - Limited Pay Plan 91 days to 70 days  90 years Max: 7 or 10 of the Annualized premium
Aviva i-Growth Plan 18 to 50 years 60 years Rs. 4.8 Lakhs to Rs. 50 Lakhs
Aviva Fortune Plus Plan 2 to 60 years 75 years Top-up Sum Assured: 1.25 x Top-up Premium
Minimum Top-up Sum Assured: Rs. 12,500
Maximum Top-up Sum Assured: No Limit

Let’s learn more about Aviva ULIP Plans in detail: 

  1. Aviva Affluence Plan

    Here are the key features of this plan:

    • Fulfill Financial Goals:

      • Child’s Education

      • Saving & Wealth Building

      • Retirement Planning

      • Creating Asset for Wife

    • Investment Preferences:

      • Opportunity for High Returns

      • Willingness to Take Risks

    • Commitment Horizon:

      • Short to Medium Term

    • Desired Features:

      • Differentiated Treatment & Exclusivity

  2. Aviva Signature Investment Plan

    Here are the key features of this plan:

    • Zero Allocation Charges

    • Periodic Milestone Boosters starting end of 6th policy year

    • Two plan options: Signature Millennial and Signature GenX

    • Up to 100% coverage of Mortality & Policy Administration charges at Maturity

    • In case of unfortunate death of Life Insured during the Policy Term, all due Premiums paid by the company

    • 7 fund options to choose from to match the risk profile

    • Easy access to your money during unexpected needs through partial withdrawals and systematic partial withdrawals

    • Two Savings Strategies to move your funds into equity or debt fund as per your choice and life stage

  3. Aviva Signature Investment - Limited Pay Plan

    Here are the key features of this plan:

    • Milestone Boosters:

      • Awarded every 3rd policy anniversary, starting from the end of the 6th policy year.

    • Death Benefit:

      • Select the higher of the base sum assured or fund value (Limited Premium or 105% of total premiums received).

      • Select the higher of top-up sum assured or fund value for top-up premiums (Limited Premium or 105% of top-up premiums received).

      • Contract terminates after paying the death benefit.

    • Maturity Benefit (If all due premiums are paid):

      • Receive maturity benefit comprising:

        • Fund value of units for Limited premium.

        • Fund value for Top-up premiums (if any).

        • X% of mortality charges and policy administration charges deducted during the policy term for Limited premium.

      • X% varies based on annualized premium amount:

        • Less than ₹5,00,000: 50.00%

        • ₹5,00,000 to < ₹10,00,000: 75.00%

        • Greater than or equal to ₹10,00,000: 100.00%.

  4. Aviva i-Growth Plan

    Here are the key features of this plan:

    • Hassle-free Purchase:

      • Purchase the plan with ease through a self-declaration of good health, eliminating the need for medical examinations.

    • Fund Options:

      • Choose from 3 unit-linked funds (Bond Fund-II, Balanced Fund–II, and Enhancer Fund-II) based on your risk appetite.

    • Loyalty Additions:

      • Enjoy loyalty additions in the last 3 policy years by paying regular premiums.

  5. Aviva Fortune Plus Plan

    Here are the key features of this plan:

    • Return of Charges: Receive at least 100% of deducted charges (Premium Allocation; Mortality & Policy Administration Charges) at maturity.

    • Additional Protection Options: Opt for Accidental Death Benefit and Waiver of Premium (on payment of additional risk charges).

    • Extend Life Cover: Extend policy term by 5 or 10 years.

    • Multiple Fund Options: Choose from 7 unit-linked funds based on your risk appetite.

    • Top-up Premium Option: Enhance your coverage by 'topping up' your premium with an additional payment.

    • Easy Withdrawal Options: Customize withdrawals with Partial Withdrawal & Systematic Partial Withdrawal options.

    • Hassle-free Process: Hassle-free online purchase available on the insurer's website.

Aviva Retirement Plans

Term Plan Entry Age Maturity Age Sum Assured
Aviva New Innings Pension Plan 42 to 60 years 78 years
Aviva AnnuityPlus Plan 18 to 80 years
Aviva Saral Pension Plan 40 to 55 years 80 years Rs. 1 Thousand to No Limit

Let’s learn more about Aviva Retirement Plans in detail: 

  1. Aviva New Innings Pension Plan

    Here are the key features of this plan:

    • Guaranteed Retirement Corpus: Assurance of a secured corpus for your retirement.

    • Secure Family Life: Ensures a secure life for your family.

    • Limited Premium Payment Term: Offers a limited premium payment term for convenience.

    • Tax Benefits: Eligible for tax benefits as per applicable tax laws.

    • Policy Term Flexibility: Choose a policy term that suits your needs.

    • Family Protection Assurance: Ensures protection for your family.

    • Single/Limited Premium Payment: Opt for a single or limited premium paying term.

    • Premium Frequency Alteration: Allows alteration for premium frequency according to your preferences.

  2. Aviva AnnuityPlus Plan

    Here are the key features of this plan:

    • Option to choose from 7 plan options based on your life goals and situations.

    • Flexibility to enhance purchase price in the beginning for higher annuity installment.

    • Annuity amount payable is guaranteed for the rest of the life of the policy.

    • If you choose to purchase an Annuity from the Vesting/Maturity Value of your pension plan, you can boost the purchase price by adding a lump sum from your existing savings. This increase in the Purchase Price will result in a higher annuity amount payable.

  3. Aviva Saral Pension Plan

    Here are the key features of this plan:

    • Guaranteed Lifetime Income: Pay only once and receive guaranteed regular income for the entire life, starting as soon as the next month.

    • Loan Availability: Access loans against the policy after the first six months to meet unexpected financial needs.

    • Tax Benefits: Enjoy tax benefits on premiums paid according to prevailing Income tax laws, with Goods and Service Tax (GST) applicable on premiums as per prevailing tax laws.

 Aviva Child Plans

Term Plan Entry Age Maturity Age Sum Assured
Aviva Young Scholar Secure Plan 42 to 60 years 78 years

Let’s learn more about Aviva Retirement Plans in detail: 

Aviva New Innings Pension Plan

Here are the key features of this plan:

  • Tuition Fee Support (TFS): Annual payout from age 13 to 17 for coaching class fees or extracurricular activities.

  • College Admission Fund (CAF): Lump sum amount at age 18 for your child's college education, providing financial freedom without stress.

  • Higher Education Reserve (HER): Support for post-graduation expenses abroad when your child turns 21, ensuring continued financial assistance for their dreams.

How To Buy Aviva Life Insurance From Policybazaar?

Here are the steps to buy Aviva Life Insurance from Policybazaar:

Step 1: Visit the official Policybazaar website and go to the Term Insurance section.

Step 2: Provide your name, contact details, gender, and date of birth.

Step 3: Enter the information regarding your job type, yearly income, educational qualifications, and smoking/tobacco consumption habits.

Step 4: Choose Aviva term plan from the list of term insurance plans that appears.

Step 5: Pay using your preferred mode to complete the process.

What Are The Exclusions In Aviva Life Insurance?

Here are the exclusions in the Aviva Life Insurance:

Suicide: If the policyholder commits suicide within 12 months of buying the policy, his/her nominees will not be able to claim the death benefit.



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Aviva Life Insurance Reviews & Ratings

4.2 / 5 (Based on 114 Reviews)
(Showing Newest 10 reviews)
Raju
Mahabubnagar, March 31, 2021
Low premium at my budget
I found my type of term insurance plan from the website of the policybazaar. The term plan is of aviva life insurance company and have been availed with various benefits under the same. One of the best thing is that I can pay the premium amount as per my convenience and it is quite less. Great work team.
Gagan
Tangi, March 30, 2021
Choosing the right sum assured
I have taken the term insurance plan from aviva life term insurance and it was done from the website of the policybazaar. I choose the right type of sum assured amount so that it can be easy for my family to survive and achieve their goals in future. That’s an appropriate plan for me and my family. Thanks team.
Samar
Pilibhit, March 30, 2021
Low premium at my budget
I found my type of term insurance plan from the website of the policybazaar. The term plan is of aviva life insurance company and have been availed with various benefits under the same. One of the best thing is that I can pay the premium amount as per my convenience and it is quite less. Great work team.
Surjeet
Kollegala, March 17, 2021
Take care of family
The aviva life insurance plan will take good care of my family. It is financial safety product which will see for my family after me. Thanks policybazaar.
Dev
Mednipur, March 09, 2021
Wide variety of plans
I have taken the life insurance policy from the website of the policybazaar and they have provided with variety of plans and I took the aviva life insurance policy from them. It is a unique plan and I like it. Great work.
Khushmeet
Bandikui, March 08, 2021
Easy to understand
I have got the aviva life insurance plan from the website of the policybazaar. It is one of the best plan I have got and I have a great understanding about the life insurance plan. Thank you team.
Alok
G.k. Bhatar, February 16, 2021
Claim settlement ratio:
The claim settlement ratio of policybazaar and Aviva life term insurance is best. I took the plan last year and checked all the things clearly about claim, features and benefits. Great work team.
Nupur
Ahmednagar, February 16, 2021
Great plans
I have recently bought a term insurance plan from the policybazaar. I got the plan of aviva life term insurance. It is really great plan and I found various benefits under the same. Kudos to team policybazaar.
Sundar
Hansot, October 22, 2020
Compare
Before buying the life insurance plan one should always compare it. I compared It and found the most useful plan of Aviva Life Insurance. A good plan with safety measures.
Sanju
Kakdwip, October 22, 2020
Online services
Buying the life insurance plan online is much easy and secured. I bought it online via the website of the policybazaar and the plan was of Aviva Life Insurance.
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