Aviva Child Plan Calculator

Aviva India is one of the long-standing insurance companies in India. It is co-owned by Aviva Plc., an insurance company based in the UK, and Dabur Invest Corp, a famous brand in India. The company provides customer-oriented products that are simple and relevant. The products are designed to help the customers achieve their financial objectives in life, including wealth creation, children's education plan, market-linked plan, etc.

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Investing in your child's future:A wise decision & a loving choice
  • Insurer pays premium in case of loss of life of parent

  • Create wealth for child’s aspirations

  • Tax Free maturity amount+

  • 12+ plans available

We are rated~
rating
58.9 Million
Registered Consumer
51
Insurance Partners
26.4 Million
Policies Sold
In-built life cover
  • Insurer pays premium in case of loss of life of parent

  • Create wealth for child’s aspirations

  • Tax Free maturity amount+

  • 12+ plans available

Nothing Is More Important Than Securing Your Child's Future

Invest ₹10k/month your child will get ₹1 Cr Tax Free*

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Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs #Discount offered by insurance company
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We are rated~
rating
58.9 Million
Registered Consumer
51
Insurance Partners
26.4 Million
Policies Sold

The company’s core value is to do the right thing and be customer-focused.The company has a global presence and serves 33 million customers worldwide.

Why Should You Use Aviva Child Plan Calculator?

A customer is spoiled with choices when it comes to purchasing the right insurance plan. Aviva Life Insurance offers a variety of products for its customers. The customer needs to make informed choices when it comes to buying insurance products. One needs to consider factors such as monthly income, medical conditions, child's education, marriage, policy term, etc., to find the best-suited policy.

The policyholders with a risk appetite can choose to invest in market-linked products wherein the returns are linked to the market. A more conservative investor can choose a savings insurance plan to safeguard and grow his/her wealth in the long run. The insurer has an online calculator that helps its customers decide the policy that works for them.

The term insurance calculator helps the policyholders to calculate the premium for the chosen plan. In the case of a child insurance plan, the online tool helps the investors plan and secures their child’s future.

Some of the reasons to use a child plan Calculator

  • Aviva child plan calculatorprovides a wide range of options in choosing the premium amount to be paid, the frequency of payment, and the sum assured.
  • The customers can use the online calculator free and take advantage of its various user-friendly features.
  • The term plan calculator lets one choose a term plan or a savings plan according to his budget. 
  • It also helps the customer decide the amount of money needed to attain his financial goals.
  • The most important aspect of this online calculator is that it helps one plan their child’s education.

The Process to use Aviva Child Plan Calculator

Aviva child plan calculator is easy to access and easy to use.The premium amount for securing a child's future is calculated in a hassle-free manner. The customer can browse the official website of the insurer and follow the below-given steps.

  1. Personal Information

    The preliminary step in the process is to enter the first name and last name of the customer, followed by the parent and child's birth date. The calculator also asks for the registered mobile number and email address of the customer.

  2. Select the Plan

    The calculator displays different plans to choose from, each with a different premium amount to be paid. The customer with a lower income can choose the plan with the least premium amount.

  3. Confirm thePolicy Purchase

    The online tool provides a summary of the selected plan. The customer has a chance to modify or edit the entered details before proceeding to purchase the plan.

Advantages of Aviva Child Plan Calculator

Aviva child plan calculator's significant function is to select the plan according to his/her budget. Some of the advantages of using the online calculator are as follows:

  1. Easy to Choose Plans

    The calculator displays four different types of plans to choose from based on the premium amount. The customer can choose the plan according to his income. The policyholder also has an option to choose the payment frequency according to his/her convenience.

  2. Time-Saving Option

    Aviva child plan calculatoreliminates the policyholders' dependence on representatives, thereby reducing the possibilities of human errors in premium calculation. The customers have plenty of options in reaching out to the insurer online, ranging from the callback option to the chat option; the customers can also write emails to the insurer or reach out to the customer service executives available throughout the day. Thus, the customers' precious time is saved by eliminating the need to travel to the insurer's office locations.

  3. Reduced Cost 

    The child plan calculator is available free on the insurer’s official website. It provides the user with a stress-free assessment of the policy term, premium rates, and the sum assured. The customer can recalculate and rework the premium amount at his convenience, making the online calculator a great tool available at no cost. Thus, the customer stands to gain from the availability of information at his/her fingertips.

Information required while Calculating Aviva Child Term Insurance Plan

The policyholder needs to have some basic information in his kitty to make use of the online calculator. The basic information needed is as follows.

  • Personal information- a first-time user must submit his/her first name, last name, gender, date of birth, date of birth of the child, mobile number, and email address.
  • The calculator may also ask the user about his marital status and the number of dependents such as children, parents, or other loved ones.
  • The user needs to have an idea about the kind of plan he/she would like to purchase based on the premium rates available. There are four types of plans for customers to choose from in the Aviva child plan calculator case.

Benefits of Buying Aviva Child Insurance Plan 

The child insurance plan acts as a savings plan catering to the child's educational needs such as higher education,marriage, and other important milestones. Some of the benefits of buying a child insurance plan are as follows.

  1. Funding the child’s milestones

    Aviva's child insurance plan is insulated from the market risks, and it is a non-participating savings plan that is designed for the benefit of one’s child.

    This policy plan helps the child come off age and is more serious about their education plans. Quality education is not readily available, and one needs to spend a considerable amount of money to attain top-class education. With the rise in the inflation rate, the higher education cost is likely to increase in the coming years. Aviva child plan has unique features such as the following.

  2. Support for Tuition fee

    One can invest in a child plan to meet the expenses of the school tuition fee. When the policy term ends, the company will provide guaranteed annual payouts every year until one’s child attains 17 years of age. This plan helps the customer meet the school's tuition fee until the child completes class 12.

  3. Fund for College Admission

    The customers can also opt to receive a lump sum when the child turns 18 years. The bulk amount received at the policy term can fund the child's college expenses, such as semester fees.

  4. Reserve for higher education 

    The parent can also use the plan to fund the post-graduation expenses of the child. In this scenario, the customer can opt to receive the lump sum when they turn 21 years. The sum assured received at the end of the policy term can be used to attain the child's master's degree in a reputed university.

  5. Unlimited supply for child’s education, In case the life insured dies

    Aviva child plan ensures child’s education is shielded from unfortunate events such as the sudden demise of the life insured, natural disasters, etc. The company will pay all the benefits such as tuition fee support for schooling, a lump sum for college Admission, and an additional lump sum for post-graduate education on their respective due dates.

  6. Survival and maturity benefits 

    This plan also provides additional benefits such as maturity and survival benefits. The policyholders can avail of these benefits irrespective of the mode of premium chosen at the inception of the policy. If the customer had chosen the silver plan with a monthly installment of Rs.2900, he/she is entitled to receive Rs.15,000 for tuition fee and Rs.40,000 for college Admission fund as survival benefits; the company will pay the remaining sum as maturity benefit, which can be used as a reserve for higher education. The payout amount differs for other plans such as gold, diamond, and platinum.

  7. Accumulation of wealth 

    The corpus accumulated by the policyholder can also be effectively used to create wealth. A disciplined investor can take advantage of the power of compounding to generate enough returns if the plan is started at an early age. It provides ample time for the money to grow and provides sizable returns for the policyholders, leading to financial freedom.

  8. Customer-oriented options for Premium payment

    Aviva child plan provides customer-focused options when it comes to premium payment. The policyholder can choose to pay the policy premium on an annual basis, semi-annual basis, quarterly basis, and monthly basis according to his/her convenience.

    Most importantly, the customers can quickly pay the premium by visiting the insurer's official website.

Aviva Child Insurance Premium Rates

The policyholders are given reasonable rates for child insurance plans. It is handy for budget-conscious masses that are wary about investing their savings. The child plan has four options to choose from, starting with a silver plan, gold plan, diamond, and platinum plan. The premium rates for each plan are as follows.

  1. Silver Plan*

    The premium amount is designed in the most reasonable way such that it’s affordable for most people. For policyholders with the silver plan, the monthly premium is Rs.2900, a half-yearly premium is Rs.17,000, and the yearly premium is Rs.33,000.

  2. Gold Plan *

    The premium amount for the gold plan is slightly higher than the silver plan with a monthly premium of Rs.4400. The policyholders can also pay the half-yearly premium of Rs.26,000 and the yearly premium of Rs.50,000.

  3. Diamond Plan*

    The premium amount for the diamond plan is higher compared to the previous plans. The policyholders of the diamond plan can opt to pay a monthly premium of Rs.8,800, or they can choose a half-yearly premium of Rs.51,500, or they can pay a yearly premium of Rs.1,00,000.

  4. Platinum Plan*

    The platinum plan is ideal for policyholders with higher monthly income. Platinum plan comes with five different bands where the annual premiums range from Rs.2,00,000 to Rs.10,00,000, the half-yearly premiums varies from Rs.1,02,500 to Rs.5,12,500 and the monthly premiums ranges from Rs.17,500 to Rs.87,500 respectively.

    • The premium payment term is calculated for two different entry age categories.

    Category 1:

    If the child's entry age is between 0 to 8 years, then the premium payment term is calculated by subtracting the age of entry from 13.

    Category 2:

    If the child's entry age is between 9 to 12 years, then the premium payment term is five years.

    • The policy term is calculated by subtracting the entry age of the child from 21.

    *All rates are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C applies.

    A policyholder who is serious about the child’s financial and educational needs can make use of the online calculator to arrive at the desired plan.

FAQ's

*All savings are provided by the insurer as per the IRDAI approved insurance plan.
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

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