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Aviva Life Insurance Company is formed between Dabur Invest Corp and Aviva Group. Dabur Invest Corp is producing traditional healthcare products since time immemorial. Aviva Group is a UK based insurance group serving 31 million customers across 16 countries. Together Aviva Life Insurance has become a key player in the sector quality products and efficient service.
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The company boasts of being among the first companies to introduce modern unit-linked and unitized with-profit plans. The company leads the market in protection and child plans with world-class products and a strong sales force.
Aviva Life Insurance offers a wide variety of plans to the customers. These plans cater to all the basic needs and necessities of the customers at a very competitive rate of interest. They take care of all the basic necessities of the customers by insuring them against all sorts of risks through a wide variety of plans to choose from.
| Aviva Life Insurance Plans | Entry Age | Maturity Age | Sum Assured | Tenure of Policy | Premium Mode |
| Aviva Life Insurance Term Plan | Minimum Entry Age- 18 years Maximum Entry Age- 55 years | 70 years | Minimum Sum Assured- Rs10 Lakh Maximum Sum Assured- No upper limits | Minimum Policy Term- 10 years Maximum Policy Term- 30 years | Yearly, Half-yearly, Quarterly and monthly |
| Aviva Life Insurance Child Plan | Minimum Entry Age for Child- 0 years Maximum Entry Age for Child- 17 years | 60 years | 10 times higher than annual premium | Minimum Policy Term- 10 years Maximum Policy Term- 25 years | Yearly, Half-yearly and Monthly. |
| Aviva Saving Plan | Minimum Entry Age- 13 years Maximum Entry Age- 55 years | 70 years | Minimum Sum Assured- Rs1lakh Maximum Sum Assured – Rs5 crore | Minimum Policy Term- 10 years Maximum Policy Term- 20 years | Yearly, Half-yearly, Quarterly and monthly |
| Aviva Retirement Plan- | Minimum Entry Age- 2 years Maximum Entry Age- 65 years | 75 years | 1.25Xsingle premium | Minimum Policy Term- 10 years Maximum Policy Term- 75 years | Single premium, yearly, half-yearly and monthly. |
| Aviva Endowment Plan | Minimum Entry Age- 4 years Maximum Entry Age- 50 years | 75 years | Minimum Sum Assured- Rs2 lakh Maximum Sum Assured- Rs1crore | Minimum Policy Term- 18 years Maximum Policy Term- 30 years | Yearly, Half-yearly, Quarterly and monthly |
| Aviva Life Insurance Group Plan | Minimum Entry Age- 18 years Maximum Entry Age- 69 years | _ | Minimum Sum Assured- Rs1crore Maximum Sum Assured- no upper limit | _ | Yearly, Half-yearly, Quarterly and monthly |
Aviva Life Insurance offers a wide range of life insurance plans that cater to the needs of the individual customers. Through these plans, the insurer insures himself and his family against financial constraints. The different types of insurance plans offered to individuals are as follows:
Health Insurance plan offered by Aviva Life Insurance makes it a point to secure both the policy-holder and his family against any sort of financial constraints that might arise due to medical emergencies. The type of Health Insurance plan offered by Aviva Life Insurance is:
This type of health insurance plan is an online insurance plan that assures a lump sum payment on the diagnosis. The plan has some notable features like:
Online insurance plan
Lump sum amount payable on diagnosis
Covers 12 critical illnesses.
Minimum payable premium is Rs. 2,000.
Minimum and maximum age ranges from 18 years to 55 years.
The insurer must survive 30 days after the diagnosis of the critical illness.
Critical illness involves first heart attack and stroke that leads to permanent symptoms.
Aviva Life Insurance offers a wide range of insurance plans that suits aptly to the modern way of living. They offer both benefits of death and several assured incomes. The types of savings plans are:
Aviva DhanNirman- This is a life insurance plan that offers assured income and also payable bonuses on maturity of the plan. This plan involves 4 policy term options and service tax is applicable as per tax law.
Aviva DhanSamriddhi- This plan takes care of small-term as well as long term needs of the customers by assuring cash back facility every 5 years and also on maturity. Assured annual bonuses up to 9% of the annual premium is offered and service tax is payable as per the tax law.
Aviva iGrowth- This is an online life insurance plan that offers coverage for life and also has an additional increased savings scheme that can be used in difficult times. This plan involves 3 fund options and 3 policy terms and tax benefits can be availed on all the premiums paid.
Aviva Life Bond Advantage- This plan makes sure that the policy-holder gets a lump sum that can be used as an investment. It is a single premium unit linked plan with partial with-drawl facility after 5 years.
Aviva Live Smart- This is a unit linked insurance plan that offers a wide variety of investment options to the customers so that they have the freedom to choose whatever plan they like with the premium amount. It also offers 7 fund options and free of cost partial with-drawl facility after 5 years.
Aviva Family New Income Builder- This plan makes it a point that the insurer pays premium for the first 12 years and get double of that amount in the next 12 years. In case of death of the policy-holder, instant payout is guaranteed and tax benefits can be availed on the payable premiums.
Aviva Wealth Builder- This plan insures that the policy-holder gets double the amount paid by him in the form of lump sum at the time of maturity of the policy. It involves 3 policy term options and tax benefits are also available.
Aviva DhanVriddhi plus- This plan helps the policy holder save systematically. This plan returns the premiums left as well as offers bonuses at the time of maturity. It involves 3 payment term options and service time is applicable.
Retirement Plans are also called Pension Plans. It assures the policy-holder a guaranteed income of the money assured till the insurer retires. It helps the policy-holder to live a tension-free life even after their retirement. The retirement plan offered by Aviva Life Insurance are as follows:
Aviva Next Innings Pension Plans- This plan offers assures a huge lump sum of money at the time of maturity and also assured regular income after the retirement of the policy-holder. It guarantees lump sum of 210% on the premiums paid and protects the family of the deceased insurer.
Aviva Annuity Plus- This plan assures guaranteed monthly income for the insurer post his retirement. This plan offers 5 annuity options that can be chosen by the insurer depending on his needs and requirements. In case of death it guarantees instant guaranteed payouts and tax benefits can also be availed as per the tax law.
Aviva New Family Income Builder- This plan makes sure that the insurer pays the premium for the first 12 years and gets back double that amount in the next 12 years. It has 7 annuity options and the amount of annuity payable is assured for the policy life.
These plans take into account that all the basic needs of the children of the insurer are taken care of. These needs may include education and other related needs.
Aviva Young Scholar Advantage- this plan is a life insurance plan that covers the child against life risk and also makes sure that his education is properly funded throughout. It offers a lump sum amount paid at the time of death of the parent and future premiums also gets waivered. With-drawl of money facility is also offered.
Aviva Young Scholar Secure- This makes assures that all the important milestones of a child’s career are well taken care of. It offers assured money back guarantee and waiver of future premiums at the time of the parents’ death. Tax benefits on all the paid premiums can also be availed as per the tax law.
Aviva New Family Income Builder- This plan makes sure that the insurer pays the premium for the first 12 years and gets back double that amount in the next 12 years. It has 7 annuity options and the amount of annuity payable is assured for the policy life.
Rural plans are special types of cost-effective plans that are uniquely designed to suit the life insurance needs of people living in the rural areas. The plan under Rural plan is as follows:
Aviva CSC BimaLaabhYojana- This plan assures that the family of the deceased gets instant sum assured paid to them. It provides protection to the policy-holder and also involves only a single payable premium. It also offers 2 policy term options.
Aviva Jana Suraksha- This is a low cost insurance plan that takes care of the insurance needs of the people in the rural areas. It insures guaranteed payment in the form of lump sum at the time of death during the term of the insurance.
Aviva NayiGrameen Suraksha- This plan assures that the family of the deceased gets instant sum assured paid to them. It provides protection to the policy-holder and also involves only a single payable premium. It also offers 2 policy term options.
Aviva Sampoorna Suraksha- This plan assures that the family of the deceased gets instant sum assured paid to them. It provides assured benefit at the time of maturity and the premium amount is as low as Rs. 750.
Aviva Life Insurance offers many protection plans that protect the policy-holder against all risks that might arise due to miss-happenings. Protection plans come in different types which are -
Aviva Extra Cover- This plan is a combination of both i-Life plans and also Health Secure Plans that offers benefits like death, critical illness, maturity etc.
Aviva LifeShield Plus- It is a type of a comprehensive protection plan that offers minimum sum assured at Rs. 10 lacs.
Aviva LifeShield Advantage- - It helps the family of the deceased by waiving off the future premiums. It also protects the family if the insurer dies.
Aviva LifeShield Platinum- This plan is a versatile life insurance plan that is nominally charged and offers life cover, income and loan protection.
Aviva i-Life- This plan guarantees high sum assured and several other bonuses at the time of maturity.
Aviva iLife Total Protect Assure Plan- Aviva iLife Total Protect Assure Plan is a comprehensive term insurance plan that protects the financial future of your loved ones. This plan can be customised as per your insurance needs. The coverage for terminal illnesses, maturity benefit of 120% of premiums paid, critical illness rider, tax benefit etc. are some of the salient features of this plan.
Group Insurance plans are special insurance plans that cover a group of people like the employees working in a company or the members of an association. Plan variants in the Group Insurance type are given below:
Term insurance is also commonly known as Term Plans or Pure Risk plans. They provide financial security to the family of the deceased person in the form of lump sum money assured in order to cover all the financial needs and requirement. If due to any uncertain event, the policy-holder dies, a big sum of assured money is offered to the nominee like wife, mother, father or children of the policy holder. The premiums of term plans are comparatively lower among all the various types of life insurance plans. The different types of offered term insurance plans are as follows:
Aviva Corporate Life Plus- This plan offers a cover for life to the employees. It also includes an added cover benefit of death due to an accident or permanent disability of the employees. It offers protection with minimal medical formalities.
Aviva Corporate Shield Plus- This is a type of a term plan that is designed primarily for corporate. It offers protection with minimal medical formalities. It also offers compensation for the financial losses to the nominee.
The death benefit option is given to the insurer with more than one investment options. This plan is a market linked plan that offers the employees the benefit of leave encashment. Various plans in the category include:
Aviva Group Gratuity Advantage- This plan assures that the nominee gets a lump sum amount at the time of the death of the insurer. It also offers tax benefits to the employers and also protects the employees against the risk of death.
Aviva New Group Leave Encashment Plan- This plan offers a lump sum amount to meet leave encashment needs of the employees. In case of death. It provides life insurance cover of Rs. 1,000.
Aviva New Traditional Employee Benefit Plan- This plan is a fund based program for corporate. This plan also offers benefits of leave encashment by the members who are still serving and that depends on the rules of the schemes.
This plan provides protection on the credit of the customers residing in the rural areas. The various types of rural plans are as follows:
Credit Suraksha- It is a comprehensive scheme that provides people of unorganized group against any financial constraints. It also offers coverage of risk and optional life cover to the spouse.
CreditPlus- This plan is designed for micro institutions that offer financial helps to individuals in the rural areas. It lessens financial losses at the time of the death of the employee by offering them financial security.
It is a type of Life Insurance plan that requires a single payable premium and offers life cover. It is a group term life insurance plan for banks, institutions etc.
Step 1: Enter your policy details – policy number and policyholders date of birth
Step 2: Select your online bank account or debit/ credit card to make the payment
Step 3: Authenticate and confirm your payment details and receive online confirmation
Step 1: Login into e-portal with your Client ID and password.
Step 2: Select the policy due for renewal payment. Click Pay Renewal Premium Now
Step 3: Choose payment option- NEFT, Credit Card/Debit Card
Step 4: Authenticate and confirm your payment details and print out the payment receipt
Step 1: Complete the claim form
As per your policy T&C and options, you need to duly fill the forms for claims against riders, hospital cash benefit, death benefit, gratuity and group term insurance.
Step 2: Arrange for correct documents
Based on the claims made, you need to attach the correct supporting documents. You can submit the documents in original or photocopies attested by a Gazetted officer or Magistrate.
Step 3: Arrange for medical reports for medical related claims
In case of hospitalization or surgery; produce the relevant medical reports and bills, issued by the attending physician, who is qualified to issue such a report.
Upon completion of the above-stated documentation, submit them to your nearest AVIVA branch office. Alternatively, you can send the documents to us by post:
Our Address:
Claims Department
Aviva Life Insurance Company India Limited
Aviva Towers, Sector 43,
Opposite DLF Golf Course,
Sector 43,
Gurgaon 122003
For more information, please call Customer Services Helpline at 1800-103-7766.
Aviva Life Insurance teamed up with Vodafone India to launch their first product in unison – ‘Red Protect’. This new plan launched under the collaboration of both the corporations, with an aim to provide the Vodafone India users with an option to integrate a life insurance scheme in their mobile plan.
This unique feature will enable Vodafone customers to choose a mobile plan with an added feature of life insurance for up to 20 years. Customers can choose the sum assured for the insurance and their monthly rentals as per their convenience.These ‘Red Postpaid’ plans provide a chance to customers to insure their family’s future well in time. Although right now, these plans are only available for selected enterprise customers, it will be gradually made available to every customer segment of Vodafone.
Trevor Bull, MD and CEO of Aviva India stated that Aviva India as a company aims at building strong and long-term relations with its customers by providing insurance solutions designed according to their financial goals and lifestyle. He also stated that Aviva Affluence is a total customer proposition designed for a particular set of audience aiming at multiplying their wealth.
Before being appointed by Aviva Life Insurance Company, Prashant was playing a dual role of Head of Equity and Chief Investment Officer at Max Life Insurance Company since last few years. He joined Max Life Insurance Company as a part of the team of founder members in the year 2001.
MD & CEO of Aviva India, Mr. Trevor Bull, on Sharma’s appointment said expressed his delight to have Prashant working with Aviva. He also expressed that Prashant’s cosmic experience in the industry of insurance and fund management will be of great benefit to the company.
The Amendment Act passed in the year 2015 has now allowed FDIs or Foreign Direct Investment ranging up to 49% in insurance sector of India. This rate, before 2015, was fixed at only 26% in the Indian insurance companies. This contract is anticipated to create neutral impact on the Aviva Life Insurance Company’s IFRS Net Assets. According to a press release from Aviva Life, in the year 2015, Aviva contributed over $52.96 million (36 million pounds) towards the company’s IFRS net assets and over 4 million pounds towards Aviva's profits.
On the occasion of appointment, the MD and CEO of Aviva India, Mr. Trevor Bull said that the company is happy and excited to Shankar appointed with them. He also said that Shankar’s experience and understanding about the operations in multinational companies, in addition to his capability to head varied team structures might prove to be of a great value to the company. He also expressed his belief in Shankar and that he would significantly contribute towards the continuous endeavors of Aviva India for creating positive customer results and also play a chief role in strengthening the company’s future while in the process.
Shankar on his appointment expressed his delight on being a part of Aviva India and the insurance industry post devoting 23 years of his career to the banking sector. He stated that he would like to utilize his learning from banking sector to take the customer’s experience to another level.
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