Aviva Life Term Insurance Plans

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 Term Plans

The company has a vast profile of plans in the category of Aviva Term Insurance so that any customer looking for a term plan to suit his requirement may find it easily. The plans are presented below in details:

Aviva Term Insurance - iLife

It is a pure Aviva term plan which is available online. The plan has the following characteristics:

• It is an online plan which you can buy by clicking a button of your mouse from anywhere
• If the insured expires when the plan is running, Sum Assured is given to the nominee.
• There is a rebate in premium for choosing higher ranges of Sum Assured
• Premium for women is 5% less than the tabular premium charged for men
• The premiums and claim are free from tax

Eligibility Details

Aviva iLife Total Protect Assure Plan

Aviva iLife total Protect Assure Plan is a term policy that comes with unique features such as in-built terminal illness, maturity benefit, critical illness rider etc. This policy is tailor-made to protect the financial future of your family in case of your sudden demise. The key features of this plan include:

• It can be bought easily online by visiting the official website of the insurer
• The plan offers coverage for terminal illness where 50% sum insured is paid immediately
• Life coverage with an accidental death benefit
• The insured’s family gets a regular income in case of the sudden demise of the insured
• 120% of premiums paid as maturity benefit with life cover
• All future premiums are waived off in case of death
• 16 critical illnesses can be covered by paying an additional premium
• Policy sum assured can be increased under Protect and Protect Plus variants.

Plan Eligibility Details

Aviva Term Insurance - Life Shield Advantage Plan

A term plan with return of premium on maturity. The features of the plan are as follows:

• There are two death benefit options under the plan. Under this Aviva term insurance first option the Sum Assured is paid on death of the insured during the tenure of the plan. Under the second option, the Sum Assured and the aggregate premiums paid are returned either on death of the insured or if the insured suffers a Total and Permanent Disability due to an accident, whichever is earlier
• In case of maturity, the total premiums paid by the policyholder are returned
• Income tax benefit on the premium paid as per Section 80C and on the claims received as per Section 10(10D) of the Income Tax Act.

Eligibility Details

Different types of Plans

Term Insurance Plan

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Life Insurance

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Best Term Insurance Companies

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TROP

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Term Insurance For Senior Citizen

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Term Insurance For Spouse

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Term Insurance For Family

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Term Insurance For NRI

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Best Term Insurance Plan

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Life Insurance Corporation of India

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What is Term Insurance?

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Term Insurance Calculator

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1 Crore Term Insurance

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2 Crore Term Insurance

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Aviva Term Insurance - Life Shield Platinum

A unique term plan from Aviva offering three types of benefits along with attractive features which are as follows:

• The Aviva term insurance plan gives three types of protection options. Under Option A which is Life Protection, the nominee gets the Sum Assured in case of pre-mature death of the insured during the term of the plan. Under Option B which is Income Replacement, the nominee receives regular monthly payouts which increase @5% every year compounded annually. Under Option C which is Loan Protection, the Sum Assured reduces every year and on death of the insured during the term, the applicable Sum Assured as on the date of death is paid to the nominee
• The premium payment term under Options B and C is limited to 2/3^rd of the policy tenure
• There is a rebate in premium for choosing higher ranges of Sum Assured
• Income tax benefit on the premium paid as per Section 80C and on the claims received as per Section 10(10D) of the Income Tax Act.
• Premium rates vary for smokers, non-smokers and healthy non-smokers

Eligibility Details

Term Insurance Riders

Return of premium option

Critical Illness cover

Accidental Death Cover

Limited pay

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Aviva Term Insurance - Life Shield Plus

A simple term plan which boasts of the following features:

• The nominee will get the Sum Assured chosen at the time of availing the plan in case of death of the life insured
• Premiums can be paid regularly for the entire term of the plan or in lump sum through Single Pay option.
• Tax benefit is available on the premium paid and the claim received.

Eligibility Details

Aviva Term Insurance - Sampoorna Suraksha Plan

A term plan which promises return of premiums paid on maturity. The features of the Aviva Term plan are as follows:

• The nominee will get the Sum Assured chosen at the time of availing the plan in case of death of the life insured
• On maturity of the policy, if the insured is still alive, the premiums paid will be returned based on the tenure chosen. The table below shows the % of total premiums paid in case of maturity:

• Premium can be paid in a lump sum through Single Pay or for a limited term
• Tax benefit is available on the premium paid and the claim received. The premiums paid are exempt from taxation under Section 80C of the Income Tax Act and the claim received in exempt under Section 10(10D) of the Income Tax Act.

Eligibility Details

Aviva Term Insurance - Extra Cover

A combination of term plan offered under i-Life and a health plan under Aviva Health Secure with the following features:

• A combination of Aviva i-Life and Aviva Health secure offering term insurance and Critical Illness cover under the same plan
• In case of death of the insured the Sum Assured is paid to the nominee
• In case the insured is diagnosed with a Critical Illness covered under the scope of the plan, the Sum Assured will be paid to the policyholder if the life insured survives for 30 days post the diagnosis
• 12 major critical illnesses are covered under the plan for which premium is not charged for the first 5 years of the plan and thereafter a review is done by the company based on which the premium is altered from the 6^th policy year
• It is an online Term Plan which can be bought online lowering the premium and avoiding the hassles of unnecessary paperwork
• There is a rebate in premium for choosing higher ranges of Sum Assured
• Premium rates are lower for non-smokers
• Income tax benefit on the premium paid as per Section 80C and on the claims received as per Section 10(10D) of the Income Tax Act.

Eligibility Details

Aviva Term Insurance - i-Life Secure

A pure term plan with annual payouts. The features of the plan are as follows:

• On death of life insured, 6% of the Sum Assured is paid immediately to the nominee. The rest of the amount is paid @6% of the Sum Assured every year for 15 years following the year of death.
• It is an online Term Plan which can be bought online lowering the premium and avoiding the hassles of unnecessary paperwork
• Rebate is offered in premium for choosing high Sum Assured ranges from Rs.1 crore and above
• Income tax benefit on the premium paid as per Section 80C and on the claims received as per Section 10(10D) of the Income Tax Act

Eligibility Details

Applying for a Aviva Term Insurance Plan from the company:

Online

The company offers specific life insurance plan which are available online only. The customer only needs to log into the company’s website, choose the required plan, choose the coverage and provide the details. The premium will be determined using the filled details. The customer then needs to pay the premium online through credit card, debit card or net banking facilities and the policy will be issued

Intermediaries

Plans which are not available online can be purchased from agents, brokers, banks, etc. where the intermediaries help with the application process.

What are the different Types of Term Plans?

Term plans provide pure cover at a lower price. It is a wonderful life insurance tool that everyone must have. There are however different types of term plans that cater to different needs. The types of term plans include pure term plans, return of premiums term plans, decreasing term plans, increasing term plans and convertible term plans.

What is a Pure Term Plan?

A pure term plan is nothing but an insurance policy that covers your life for a fixed period of time and promises to pay a fixed sum assured to your family in the case of your death. A pure term plan is the easiest and least expensive type of term plans. The premium you pay for a pure term plan depends on your age, the term for which you buy the plan and the sum assured you opt for. The premium remains intact throughout the policy and you also get a discount if you purchase the plan online. If you outlive the policy, you don’t get anything in return.