Life Insurance products are useful for financial planning in the present day. There are insurance products of different flavours designed to cater to every taste in harmony with their life goals and aspirations. Aviva Income Suraksha is a Non-Linked and Non-Participating savings oriented life insurance policy, which has introduced a unique regime of monthly payouts and guaranteed returns to assist the policyholder financially for a defined term. This plan benefits both the policyholder and the family. The regular monthly payout derived from Aviva Income Suraksha continues unabated to the family in the event of the policyholder's untimely demise during the currency of the policy term.
|Policy Tenure||Policy Payment Term of 10 years plus deferment period of 0,3 and 5 years:
|Premium Paying Term||Regular Premium only for 10 or 12 years|
|Premium Paying Mode||Annual or Monthly Premium (Only ECS and Direct Debit)|
|Entry Age||Minimum: 18 years at last birthday Maximum: 48 years at last birthday|
|Maturity Age||Minimum: 28 years Maximum: 65 years|
|Grace Period||15 days for Monthly and 30 days for all others from the premium due date|
|Liquidity||No Loan facility is available under the Plan|
Aviva Income Suraksha Policy offered by Aviva Life Insurance offers the following benefits to its buyers:
*Tax benefit is subject to changes in tax laws
As enunciated earlier, the premium payment frequency applicable to Aviva Income Suraksha premium is either annual or monthly.
Minimum Premium for Entry Age 18 to 40 years:
Minimum Premium for Entry Age 41 to 48 years:
*Standard T&C Apply
There is no provision for Add-on Riders in the Aviva Income Suraksha Policy.
Since the operating principle of Aviva Income Suraksha is different from other investment-oriented life insurance products, the eligibility norms are also aligned with Premium Payment Term and the linked deferment periods.
Maturity Age: Since the Policy, the term is determined by adding the deferment periods of 0, 3, and 5 years to the 10 or 12 years PPT, the tenure is in the range from 10 to 17 years.
Copies of Official Valid Documents (OVD), which are required for purchase of Aviva Income Suraksha Policy, are listed below:
The method to buy Aviva Income Suraksha is offline as there is no provision for online purchases. Though online Aviva Income Suraksha is not provided for, one can use the portal's tools to get an idea of the premium through the Aviva Income Suraksha calculator at the portal. Additionally, the policyholder may seek assistance by requesting a visit by an Advisor. The important steps involved are filling up the proposal form with Premium Payment Term and accompanying Deferment Period and preferred Premium Payment Frequency. By paying the premium, the purchase process is completed.
In accordance with Aviva Income Suraksha Reviews, the exclusion for death due to suicide within the first 12 months of risk inception entails payment of 80% of the paid premium or the surrender value, whichever is higher, as on the date of death. Exclusions also apply to various forms of unnatural death, details of which can be ascertained from the policy document.