Every individual puts in the effort and earns a livelihood to ensure the best quality of life for their loved ones. This requires a constant flow of income from various sources. A financial plan that offers income and financial protection would be the most suited for this purpose. Aviva Guaranteed Income Plan enables savings of finances with insurance to result in adequate monetary coverage.Read more
Save Upto ₹46,800 in tax under Sec 80C
Inbuilt Life Cover
Tax Free Returns Unlike FD
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
This policy provides returns in the form of 11 payments made regularly over the course of 10 years. Moreover, the plan offers coverage to the family members in the event of any unfortunate instance or death of the policyholder, ensuring adequate financial security.
|Policy Tenure||15 years|
|Premium Paying Term||10 years|
|Premium Paying Mode||Annually|
|Entry Age||Minimum – 3 years Maximum – 50th birthday|
|Maturity Age||Minimum - 18 years Maximum - 65th birthday|
|Grace Period||30 days|
|Sum Assured||20.2 times the annual premium payable over 10 years.
|Liquidity||No loans can be taken against the policy.|
Listed below are the key benefits of Aviva Guaranteed Income Plan offered by Aviva Life Insurance:
The Aviva Guaranteed Income plan policy death benefit is the highest amount among one of the following:
The benefits comprise of the specific payout per age with the 11th payment of the maturity benefit.
* Tax benefit is subject to changes in tax laws
The premium for the Aviva Guaranteed Income plan is factored by two aspects – age and the payment period.
For age 3 to 45 years, the minimum premium payment is Rs. 50,000.
For ages 46-50 years, the minimum payment is Rs. 75,000.
However, the maximum premium to be paid remains the same across all age groups – Rs 1, 00, 00,000 per insured individual.
The insurance premium is required to be paid annually. For the policy, the payout period is 10 years. Therefore, the premium payment is required to be made over 10 years, i.e., the duration of the policy maturation.
*Standard T&C Apply
For individual policies, the Aviva Guaranteed Income Plan calculator allows policyholders to know the specific premium amount required to be paid.
Additional riders are not available under the Aviva Guaranteed Income Plan.
Minimum – 3 years
Maximum – 50th birthday
Minimum – 18 years
Maximum – 65th birthday
To buy the Aviva Guaranteed Income plan, the documents required are -
Please ensure the identity proof contains the date of birth; the premium amount is affected by age.
As of now, Aviva Guaranteed Income Plan online purchase is not available. Therefore, policy purchase can be made as follows:
Step 1: Visit the official website of Policybazaar.com or contact their customer service department.
Step 2: After finalizing the plan, choose the policy with the appropriate premium amount.
Step 3: Fill the application form and submit it with the required documents.
Step 4: Make the payment through card or cheque as accepted.
Based on the Aviva Guaranteed Income plan reviews available, the policy fulfils the policy holder's financial requirements and family. However, there is an exclusion under this policy:
In the event of suicide of the policyholder within 12 months of the policyholder, the policy ceases to exist. The policyholder's family or the nominee is provided 80% of the premium paid, or the policy surrender value, whichever is higher, as applicable from the day of policy purchase.
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