Aviva Lifeshield Advantage is a non-participating, non-linked protection plan where the premiums are returned on maturity. By opting for this plan you can protect your family at a nominal cost and ensure their well-being in your absence.
With Aviva Life insurance Lifeshield Advantage you can ensure that the financial needs of your family are met even when you are not around. Additionally, all the money which you pay as premium will be returned to you in case you survive at the end of the policy. As per the plan you can enjoy a rebate on the premium for high levels of the sum assured. Further, additional protection is offered against permanent total disability due to accidents.In event of your death the sum assured will be paid to your family.
Let’s take a look at the eligibility conditions for the plan:
|Entry Age||18 to 55 years|
|Maturity Age||28 to 65 years|
|Policy Term||10 to 30 years|
|Premium Paying Term||Option A- Single or Regular Premium which is equal to the policy term
Option B- Regular premium which is equal to the policy term
|Sum Assured||Minimum: Rs. 2,00,000
Maximum: Option A has no limit
For option B it is 50 lakhs
|Premium frequency||Single premium which is available only in Option A
Regular premium can be paid in the frequency of Yearly, half-yearly, quarterly and monthly
|Minimum Premium (Depends on the frequency in which the premium is paid)||Single:Rs.12,000
Monthly: Rs. 250
|Maximum premium||Depends on the sum assured and there is no maximum limit|
The benefits of Aviva Lifeshield Advantage plan can be summed up as follows:
Apply for the plan in 5 easy steps
In 5 easy steps you can choose the plan which suits your requirements:
Exclusions of the plan
The term insurance cover is null and void if the policy holder commits suicide within a year from the start of the policy. The nominee or the beneficiary will be paid 80% of the premium which excludes payment for taxes and extra premium. Additionally, if the policy holder commits suicide within a year from the date of revival of the policy, the nominee will be entitled to an amount which is higher than 80% of the premium paid or the surrender value. Further, the policy holder will not qualify for Permanent Total Disability Benefit if the disability has been caused by:
The free look period
Within 15 days from the date on which you receive the policy document you have the right to review the policy. This time period is known as the free look period. If you cancel the plan within this span of time you will be eligible for refund of the policy premium after deduction of the proportionate risk premium and the medical expenses along with the stamp duty.
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