Aviva Annuity Plus is a non-linked, non-participating, single premium pension plandesigned to provide a lifetime annuity to its customers. With a regular income, this plan helps retirees maintain and enjoy their lifestyle for as long as they survive.
Get Guaranteed Lifelong Pension
For You And Your Spouse
Invested amount returned to your nominee
Invest ₹20k monthly & Get yearly pension of ₹4.2 Lacs for Life
Guaranteed Return For Life
Multiple Annuity Options
The policy offers the following seven options for annuity payment:
|
Minimum |
Maximum |
Entry Age (Last Birthday) |
Aviva Pension Policyholders: 18 years Nominees of deceased Aviva Pension Policyholders: 0 years (18 years for joint life last survivor annuity) Others: 50 years |
80 years |
Purchase Price |
Rs. 25000 |
No limit |
Annuity Instalment |
Rs. 500 |
- |
Annuity Frequency |
Yearly, Half-yearly, Quarterly, Monthly |
Age (Yrs) |
Annuity Option chosen |
Purchase Price |
Mode of annuity payout |
Annuity Amount Paid |
Death Benefit |
50 |
Annuity guaranteed for 5 years and for life thereafter |
Rs. 60000 |
Yearly |
Rs. 4093 |
Nil |
50 |
Annuity for life increasing at 3% p.a. simple interest |
Rs. 60000 |
Yearly |
Rs. 3016 |
Nil |
50 |
Life Annuity with return of purchase price |
Rs. 60000 |
Yearly |
Rs. 3467 |
Rs. 60000 |
50 |
Joint Life Last Survivor Annuity |
Rs. 60000 |
Yearly |
Rs. 3848 |
Nil |
Grace Period: There is no Grace Period in this plan as it is a single premium payment plan.
Policy Termination or Surrender Benefit: There is no Surrender Benefit in this policy. When the policy terminates as per the option selected, the nominees do not receive any benefit. The policy terminates on the death of the annuitant where the option of Life Annuity or Annuity for Life increasing @ 3% per annum simple interest or Life Annuity with Return of Purchase Price is chosen. The policy terminates when the annuitant passes away during the guaranteed period; or on the death of the annuitant after the guaranteed period, if Annuity Guaranteed for 5 years, or Annuity Guaranteed for 10 years or Annuity Guaranteed for 15 years has been chosen. In case of the Joint Life Last Survivor Annuity option, the policy terminates on the death of both annuitants.
Free Look Period: The policy offers a Free Look Period of 15 days starting from the date of receiving the policy documents. If the policy was sold via distance marketing, the Free Look period will be 30 days. If the policyholder is not pleased with the terms and conditions and wishes to discontinue the policy, he or she can cancel the plan during this period. If paid already, the Company refunds the Single Premium received, minus stamp duty charges.
Exclusions
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The documents required include the filled up Application form, along with a photo identity proof (PAN Card, Passport, Driving License) and income proof (a copy of the latest ITR or last 3 months salary slips or Form 16 ).
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*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
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