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Aviva Life 1 Crore Term Insurance

In today’s unpredictable world, ensuring financial security for your family is more important than ever. One way to achieve that is by buying a comprehensive term insurance plan.

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Aviva Life Insurance, a trusted name in the insurance industry, offers a 1 crore term insurance plan designed to provide substantial financial protection for your loved ones. Let us take a look at the benefits, features, and other important details of Aviva Life 1 crore term insurance plans.

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 16/day⁺

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day⁺

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day⁺

What is Aviva Life 1 Crore Term Insurance?

Aviva Life 1 crore term insurance is a pure risk protection plan that offers a sum assured of 1 crore to the family of the policyholder in the unfortunate event of the policyholder's demise during the policy term. This plan is designed to ensure that your family's financial needs are met even if you are not around.

What are the Key Features of Aviva Life 1 Crore Term Insurance?

Here is a list of the key features of the Aviva Life Insurance of 1 Crore:

High Coverage at Low Premiums: Aviva Life 1 crore term insurance plan offers a large cover amount at affordable premiums. This makes these plans available to a wide range of individuals who want to provide financial security to their families.
Flexible Policy Term: Policyholders can choose the policy term that suits their needs. This flexibility allows you to align the policy duration with your financial planning goals, such as covering your children’s education or remaining loan payments in your absence.
Multiple Payout Options: Aviva Life offers various payout options to suit the preferences of the policyholder. You can choose between a lump sum payout, regular monthly income, or a combination of both, ensuring that your family is financially covered even in your absence.
Additional Riders: The policy offers optional term insurance riders that can enhance the coverage. These include critical illness riders, accidental death benefits, and waiver of premium riders. Adding these riders can provide extra protection against unforeseen circumstances.
Online Purchase: Aviva Life offers the convenience of purchasing the 1 crore term insurance policy online, making the process quick and hassle-free. The online platform allows for easy comparison of plans, customization of coverage, and instant premium calculations.

What are the Benefits of Aviva Life 1 Crore Term Insurance?

Here is how buying a 1 Crore Aviva term insurance can benefit you:

Financial Security for Loved Ones: These term insurance plans provide the assurance that your family will be financially protected in your absence. The 1 crore sum assured can cover your family’s living expenses, your child’s education costs, any remaining debts, and other financial commitments in your absence.
Affordable Protection: These life insurance plans offer a large coverage at highly affordable premium rates, making it a budget-friendly choice for individuals seeking a large sum assured as life insurance coverage.
Flexibility: With options for policy terms, payout modes, and additional riders, Aviva Life 1 crore term insurance plan can be tailored to meet your specific needs and preferences.
Tax Benefits: Premiums paid towards Aviva 1 crore term insurance plan are eligible for term insurance tax benefits under Section 80C and 10(10D) of the Income Tax Act as per the prevailing tax laws.
Peace of Mind: Knowing that your family will be financially protected even in your absence provides you with the necessary peace of mind. This allows you to lead a stress-free life.

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How to Buy Aviva Life 1 Crore Term Insurance Online from Policybazaar?

Here is how you can buy the Aviva Life Insurance 1 Crore term insurance plan online from Policybazaar:

Step 1: Visit the term insurance page of Policybazaar

Step 2: Fill in the required personal details like name, gender, age, and contact information

Step 3: Select the right occupation type, smoking habits, educational qualifications, and annual income

Step 4: Choose the most suitable Aviva Life 1 Crore term insurance and proceed to pay

Wrapping it Up!

Aviva Life 1 crore term insurance plan is a suitable option for individuals looking to secure their family's future with a large life cover. Its affordability, flexible options, and extensive benefits make it a valuable addition to your financial planning strategy. By choosing Aviva Life, you can ensure that your loved ones are protected and can maintain their lifestyle even in your absence. For those seeking peace of mind and comprehensive coverage, the Aviva Life 1 crore term insurance policy is a suitable option.

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FAQs

Q: What is Aviva Life 1 Crore Term Insurance, and who should consider buying it?

Ans: Aviva Life 1 Crore Term Insurance is a pure protection plan that offers a sum assured of 1 crore rupees to the policyholder’s nominees in case of the policyholder's death during the policy term. This plan is ideal for individuals who want to provide significant financial security for their families at an affordable premium. It is suitable for those with dependents, such as a spouse, children, or aging parents, who would face financial hardships in the event of the policyholder's demise.
Q: How does the payout work under Aviva Life 1 Crore Term Insurance?

Ans: Aviva Life 1 Crore Term Insurance offers flexibility in payout options. Beneficiaries can receive the death benefit as a lump sum amount, which provides immediate financial support, or as regular monthly income, which helps manage ongoing expenses. Some policies also offer a combination of both, providing a lump sum payout initially followed by monthly payments.
Q: Are there any riders available with Aviva Life 1 Crore Term Insurance?

Ans: Yes, Aviva Life provides optional riders that can be added to the 1 crore term insurance policy for enhanced coverage. Common riders include the critical illness rider, which provides a payout upon diagnosis of specified critical illnesses, the accidental death benefit rider, which offers an additional payout in case of accidental death, and the waiver of premium rider, which waives future premiums if the policyholder becomes disabled or critically ill.
Q: Can I purchase Aviva Life 1 Crore Term Insurance online, and what documents are required?

Ans: Yes, you can purchase Aviva Life 1 Crore Term Insurance online through Aviva's official website. You will need to provide personal details such as age, gender, smoking habits, and income information. Required documents typically include identity proof (such as Aadhar card or passport), address proof, age proof, and income proof (such as salary slips or bank statements). A medical examination may also be required based on your health and the sum assured.
Q: Are the premiums paid towards Aviva Life 1 Crore Term Insurance eligible for tax benefits?

Ans: Yes, premiums paid towards Aviva Life 1 Crore Term Insurance are eligible for tax deductions under Section 80C of the Income Tax Act, up to the prescribed limit. Additionally, the death benefit received by the beneficiaries is exempt from tax under Section 10(10D), making it a tax-efficient way to provide financial security to your family.