Aviva Dhan Samruddhi

A sound financial plan of an individual comprises of both long and short-term perspectives, attained over and above the security of life risk cover through a variety of insurance products. Aviva Dhan Samruddhi helps to build a future corpus in the long term as well as meet short-term life goals. Aviva Dhan Samruddhi  Policy is an individual Non-Linked and Non-Participating Savings  Insurance Plan which not only helps money grow with guaranteed maturity benefit returns in the long term but also returns money as survival benefit every five years of the policy tenure, except maturity for short term requirements. Additionally, it offers a concessional premium for a sum assured exceeding Rs.5 Lakh. 

Aviva Dhan Samruddhi Details:

Parameters Particulars
Policy Tenure 10, 15 and 20 years maximum, subject to satisfying the requirement of maturity age
Premium Paying Term  10 years across all policy terms
Premium Paying Mode Regular in Annual, Semi-Annual, Quarterly or Monthly Premium (Only ECS and Direct Debit)
Entry Age  13 -55 years at last birthday
Maturity Age  23-70 years
Grace Period  15 days for Monthly and 30 days for all others modes from the premium due date
Sum Assured  Minimum: 
  • For 10 years policy term: Rs.4.00 Lakh
  • For 15 years policy term: Rs.2.65 Lakh
  • For 20 years policy term: Rs.2.65 Lakh
Maximum: 
  • Rs. 5 Crore per insurer’s underwriting policy
Liquidity NA

Benefits of Aviva Dhan Samruddhi

Here are the benefits offered by Aviva Dhan Samruddhi Policy by Aviva Life Insurance:

  • Guaranteed Additions: The policyholder is eligible for the Guaranteed Addition every policy anniversary, provided there is no outstanding premium. The addition rate is determined as a percentage of One Year’s Premium and dependent on the policy term. The rates are:
  • 10-year policy term: 7%
  • 15-year policy term: 8%
  • 20-year policy term: 9%
  • Death Benefit: It is disbursed to the nominee on the untimely demise of the policyholder within the policy term, provided the Aviva Dhan Samruddhi Policy status is active. The beneficiary receives the entire sum assured plus the Guaranteed Additions at the time of death, without deductions of paid Survival Benefit, if any. 
  • Survival Benefit: It is a Guaranteed Money returned every 5th policy anniversary, except at maturity and the quantum is 125% of One Year’s Premium. 
  • 10-year policy term: 5th
  • 15-year policy term: 5th and 10th
  • 20-year policy term: 5th, 10th and 15th
  • Maturity Benefit: It is conditional to active Aviva Dhan Samruddhi Policy status, which comprises of the Sum Assured plus the Guaranteed Additions during the policy term, minus the Survival Benefit already paid. 
  • Tax Benefit: In accordance with the provisions of Income Tax Act, 1961, every financial year the premium paid is exempt under Section 80C and Benefit receipts under Section 1(10D). 

*Tax benefit is subject to changes in tax laws

The Premium for Aviva Dhan Samruddhi

It is already stated that the policyholder has the flexibility to pay the premium in instalments of Annual, Semi-Annual, Quarterly, and Monthly frequencies. Before a policyholder commits, it is prudent to check the Aviva Dhan Samruddhi calculator at the insurer portal to get an idea about the premium for the chosen policy. However, the sample premium amounts are listed below for view at a glance for monthly frequency only. 

Minimum Premium: 

  • For 10 years policy term: Rs.3109
  • For 15 years policy term: Rs.1707
  • For 20 years policy term: Rs.1492

Maximum Premium: 

  • For 10 years policy term: Rs.413943
  • For 15 years policy term: Rs.359375
  • For 20 years policy term: Rs.314083

      *Standard T&C Apply

Additional Riders for Aviva Dhan Samruddhi:

There is no provision for Add-on Riders in Aviva Dhan Samruddhi Policy. 

  1. Eligibility for Aviva Dhan Samruddhi:

    Entry Age: 13 -55 years

    Maturity Age: 23-70 years

    It is to be noted that even if the policyholder is minor at the inception of the policy, the risk shall commence immediately. 

What are the Documents Required to Buy this Policy?

Like any life insurance policy, to buy Aviva Dhan Samruddhi it is imperative to furnish copies of Official Valid Documents (OVD) for the following:

  • Identity Proof
  • Age Proof
  • Address Proof
  • Income Proof
  • Bank Account Details
  • Recent Photograph. 

How to Buy this Plan Online?

The online Aviva Dhan Samruddhi is not an option presently, but the policyholder can seek the service of an Advisor through an online request at the insurer portal. To buy Aviva Dhan Samruddhi offline, the policyholder can accomplish the job through a few steps.

  • Select the basic Sum assured that will build the desired corpus and fulfil the long and short-term financial goals. 
  • Choose the Policy Term based on age.
  • Choose the convenient Premium Payment Frequency. 
  • Calculate Premium
  • Pay the premium to complete the process. 

Exclusions of Aviva Dhan Samruddhi:

Exclusions are an important factor that affects the settlement of claims. According to Aviva Dhan Samruddhi Reviews, exclusions are applicable for claim related to death due to suicide in the first year of policy inception or renewal, and only 80% of the paid premium is payable, but not the total Death Benefit. All other exclusions can be checked in the policy document. 

FAQ's

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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