• Aviva Life Insurance - Choose From a Range of Policies Online

    Life Insurance
    • Premiums as low as Rs.17/day for sum assured of Rs.1 crore*
    • Claim up to Rs. 1,50,000 deduction under section 80C**
    • Choose between annual and monthly premium payment options

    Aviva Life Insurance is one of the leading players in the private life insurance industry. Like most of the top companies in the market, Aviva Life offers a diverse range of life insurance policies including protection plans, saving plans, child plans, retirement plans, health plans, etc. In addition to individual plans, the company offers group plans and plans exclusively designed for the armed forces. If you are looking for a life insurance policy to secure the financial needs of your dependents, you can do it with the help of policies offered by Aviva Life. Let’s take a detailed look at the different types of policies offered by Aviva Life Insurance and how customers can benefit from them.

    Aviva Life Insurance Plans

    Life insurance plans offered by Aviva for the individual/retail segment are listed below:

    Highlights of Aviva Life Insurance Updated on 18 Nov 2019

    Percentage of Grievances Solved 100%
    Claim Settlement Ratio 94.45%
    Group Death Claims 99.59%
    Percentage of Claims Rejected 0.41%
    Solvency Ratio 2.94 (for the quarter ended March 2018)
    Protection Plans Savings Plans Child Plans Retirement Plans Rural Plans Health Plans
    Aviva I Life Plan Aviva Family New Income Builder Plan Aviva Dhan Nirman Plan Aviva Annuity Plus Plan Aviva Jana Suraksha Plan Aviva Heart Care
    Aviva i-Shield Plan Aviva Wealth Pro Plan Aviva Dhan Samruddhi Plan Aviva Next Innings Plan Aviva CSC Bima Laabh Yojana Aviva Health Secure
    Aviva Life Shield Advantage Plan Aviva i-Growth Plan Aviva Life Bond Advantage Plan Aviva Life Bond Advantage Plan Aviva Nayi Grameen Suraksha
    Aviva Life Shield Platinum Plan Aviva Wealth Builder Plan Aviva Young Scholar Advantage Plan Aviva Dhan Samruddhi Plan Aviva Sampoorna Suraksha
    Aviva Sampoorna Suraksha Plan Aviva Dhan Vriddhi Plus Plan Aviva Young Scholar Secure Plan Aviva i-Growth Plan
    Aviva Extra Cover Aviva Dhan Nirman Plan Aviva Affluence Plan Aviva Family New Income Builder Plan
    Aviva i-Life Total Plan Aviva Dhan Samruddhi Plan Aviva Wealth Builder Plan Aviva Wealth Builder Plan
    Aviva i-Term Smart Aviva Life Bond Advantage Aviva i-Growth Plan Aviva Dhan Vriddhi Plus Plan
    Aviva Affluence Plan Aviva Family New Income Builder Aviva Affluence Plan
    Aviva Dhan Vriddhi Plus Plan

    *Certain insurance plans listed above are offered under other categories as well.

    The following are the group insurance plans, plans for SMEs, and plans for the Armed Forces:

    Group Insurance Plans
    Term Plans Gratuity/Leave Encashment Plans Rural/Credit Protection Plans Plans for SME's Plans for the Armed Forces
    Aviva I Life Plan Aviva Group Gratuity Advantage Plan Aviva Credit Suraksha Plan Business Pro Plans Aviva Suraksha Plan
    Aviva i-Shield Plan Aviva New Traditional Employee Benefit Plan Aviva Group Life Protect Plan Employer Pro Plans
    Aviva Life Shield Advantage Plan Aviva New Group Leave Encashment Plan Family Pro Plans
    Aviva Life Shield Platinum Plan
    Aviva Sampoorna Suraksha Plan
    Aviva Extra Cover
    Aviva i-Life Total Plan

    *Note: Group term insurance plans are the same as individual term insurance plans offered by the company.

    Why Should You Opt For Aviva Life Insurance As Your Insurance Provider?

    Aviva Life Insurance is one of the most preferred life insurance firms in the country. The insurer has a pan-India presence with over 107 branches across India. In order to assist their customers, the insurer has also appointed over 15,000 insurance advisors across India. The company was one of the first firms to launch unit-linked and ‘with-profit’ policies in the country. They have a range of varied insurance products that are guaranteed to meet your needs. Aviva also has leading banks as their bancassurance partners. Further, the insurer also takes a keen interest in CSR (Corporate Social Responsibility) programmes, and has partnered with several foundations and trusts to help underprivileged children realise their potential.

    Different Types of Insurance Plans Provided By Aviva Life Insurance

    The various retail or individual plans offered by Aviva Life Insurance include:

    1. Aviva Life Term Plans:

    2. Protection plans or term insurance plans are one of the most basic types of life insurance plans available in the country. This type of policy offers customers a high sum assured at a relatively low premium rate. Thus, in case the policyholder passes away while the policy is in force, the nominee will receive the full sum assured from the insurer. However, term insurance plans do not acquire a cash value, and thus no benefits are provided at maturity.

      Plan name Key Features
      Aviva I Life Plan
      • This is a term insurance plan, and hence offers a death benefit payout to the nominee, if the policyholder passes away during the policy tenure.
      • The policy buyer will have to choose a minimum sum assured of Rs.25 lakh. There is no limit to the maximum sum assured.
      • Any individual between 18 years and 55 years can purchase this plan.
      • The maximum maturity age for this plan is 70 years, i.e., the cover cannot be availed after one attains the age of 70.
      • Premiums can be paid on an annual or bi-annual basis.
      • Any policy tenure can be chosen between 10 years and 35 years.
      • No riders can be purchased along with this plan.
      • If the policy buyer chooses a large sum assured, he/she will be eligible to receive a rebate from the insurer.
      • Women are also eligible for special rebates.
      *Note: This plan is offered as an individual plan and as a group plan.
      Aviva i-Shield Plan
      • This is a non-participating, non-linked, term insurance policy which offers return of premiums on maturity of the policy.
      • This policy is offered at an affordable cost to policy buyers.
      • If the policy buyer opts for a sum assured of Rs.20 lakh or more, he/she will receive a rebate.
      • If you are required to undergo a pre-policy medical screening to purchase this policy, the costs of the medical test will be borne by the insurer.
      • The entry age for this policy ranges between 18 years and 55 years.
      • The maximum maturity age for this policy is 65 years.
      • Individuals purchasing this policy can opt for a policy term between 10 years and 25 years. The premium payment term is the same as the policy tenure.
      • Premiums can be paid on an annual, bi-annual, or monthly basis.
      • Policy buyers can choose a sum assured between Rs.15 lakh and Rs.5 crore when purchasing this policy.
      *Note: This plan is offered as an individual plan and as a group plan.
      Aviva LifeShield Advantage Plan
      • This is a non-participating, non-linked, protection-oriented plan that offers guaranteed return of premiums on maturity.
      • If you opt for a high sum assured when you purchase this plan, you can enjoy a discount/rebate on your premium payable.
      • In order to purchase this plan, policy buyers need to be between 18 years and 55 years. The maturity age can range between 28 years and 65 years.
      • Any policy tenure between 10 years and 30 years can be opted for.
      • Policy buyers will have to opt for a minimum sum assured of Rs.2 lakh, in order to avail this cover.
      • This plan comes in two variants - Option A and Option B. Option A offers only life protection. Option B provides a life-cum-disability cover.
      *Note: This plan is offered as an individual plan and as a group plan.
      Aviva LifeShield Platinum Plan
      • This plan offers policy buyers the option to choose a protection cover as per their needs.
      • The three payout options provided by this plan include Life Protection, Income Protection, and Loan Protection.
      • Lower premium rates are offered to individuals who are non-smokers and special premium rates are offered to individuals who don’t smoke and are in good health.
      • When purchasing this policy, the policy buyer will have to opt for a policy tenure between 10 years and 52 years.
      • The entry age for this plan ranges between 18 years and 60 years, and the maturity age for this plan ranges between 28 years and 70 years.
      • Due premiums can be paid on an annual, bi-annual, quarterly, or monthly mode.
      • Rebates will be offered to individuals who opt for a high sum assured.
      • A 15-day free-look period is provided to policy buyers.
      *Note: This plan is offered as an individual plan and as a group plan.
      Aviva Sampoorna Suraksha Plan
      • This is a non-participating, non-linked, life insurance policy.
      • A guaranteed benefit will be paid at maturity of the policy.
      • Premium payment term can be chosen as per the convenience of the policy buyer.
      • This policy is extremely affordable, with annual premiums starting from Rs.750.
      • Policy buyers between 18 years and 50 years of age can purchase this policy. The maximum maturity age for this plan is 65 years.
      • Policy term options are 8 years, 9 years, 10 years, and 15 years.
      • If the policyholder passes away during the policy tenure, a death benefit will be paid to the beneficiary post which the policy will cease to exist.
      *Note: This plan is offered as an individual plan and as a group plan.
      Aviva Extra Cover
      • This policy combines the benefits of two separate insurance plans offered by Aviva, namely the Aviva Health Secure Plan and the Aviva i-Life Plan.
      • In case the policyholder passes away during the policy tenure, a death benefit will be paid to the nominee.
      • This policy also offers a critical illness cover. Thus, a critical illness benefit will be paid if the policyholder is diagnosed with any one of the 12 illness listed in the brochure.
      • A high sum assured discount is offered to policy buyers who opt for a high sum assured. Lower premium rates are also offered to individuals who don’t smoke.
      • The policy can be purchased by individuals between 18 years and 55 years.
      • The minimum sum assured is Rs.25 lakh for the term insurance cover and Rs.5 lakh or the critical illness cover.
      • A policy term between 10 - 35 years can be opted for the term insurance cover, while a policy term between 10 - 30 years can be opted for the critical illness cover.
      *Note: This plan is offered as an individual plan and as a group plan.
      Aviva i-Life Total Plan
      • This is a non-participating, non-linked, life insurance plan.
      • Policy buyers can opt for their choice of coverage from 4 options.
      • Policy buyers can also choose to purchase the Aviva Critical Illness and Disability Rider.
      • In order to purchase this policy, the buyer needs to be over a minimum of 18 years and can be a maximum of 60/65 years (as per the plan option).
      • The minimum premium payable for this plan is Rs.3,525.
      • The minimum sum assured that can be opted for is Rs.50 lakh (for all four plan options).
      • Policyholders can avail a rebate if they opt for a high sum assured.
      • Premiums towards this plan can be paid on an annual, bi-annual, quarterly, or monthly basis by the policyholder.
      *Note: This plan is offered as an individual plan and as a group plan.
    3. Aviva Life Savings Plans:

    4. Savings plans that are offered by Aviva Life Insurance offer a unique protection-cum-savings option to the policy buyer, and thus help in long-term wealth creation. Certain savings plans that are offered by the insurer are listed in the table below.

      Plan Name Key Features
      Aviva Family New Income Builder Plan
      • This is a non-participating, non linked, life insurance policy.
      • This plan provides guaranteed income to the policyholder, post the 12-year premium payment tenure.
      • The nominee is also provided a guaranteed death benefit in the event of the policyholder’s death.
      • Individuals between 6 years and 50 years can purchase this plan. The maturity age for this policy ranges between 18 years and 62 years.
      • The policy tenure and premium payment tenure for this plan are fixed at 12 years.
      • The minimum annual premium payable is Rs.40,000.
      • The sum assured will amount to a value equal to 24 times the annual premium payable.
      • Premiums can only be paid on a yearly basis.
      * Note: This plan is also offered under the Retirement and Child Insurance categories.
      Aviva Wealth Pro Plan
      • This policy is designed to provide the dual benefits of two separate insurance plans offered by Aviva - the Aviva Wealth Builder Plan and the Aviva Affluence Plan.
      • In case the policyholder meets with an untimely death, a death benefit will be paid to the nominee. The minimum death benefit payable is 15 times the annual premium amount.
      • At completion of the policy tenure, a maturity benefit will be paid to the policyholder.
      • The entry age for this plan ranges between 5 years and 48 years. The minimum maturity age is 22 years, while the maximum maturity age is 65 years.
      • The policy tenure is 17 years, with a premium payment term of 10 years/
      • The minimum premium payable is Rs.2 lakh. Premiums can only be paid on a yearly basis.
      Aviva i-Growth Plan
      • This is a non-participating, unit-linked, savings-oriented insurance policy.
      • Policy buyers can invest in up to 3 different funds.
      • The insurer also pays loyalty additions to the policyholder during the last 3 years of the policy tenure.
      • This policy can be purchased by any individual between 18 years and 50 years. The maximum maturity age for this policy is 60 years.
      • Policy buyers can choose a policy tenure of 10 years, 15 years, or 20 years.
      • The minimum premium amount payable is Rs.35,000. Premiums can be paid on annual, bi-annual, quarterly, or monthly basis.
      • The minimum sum assured that the policy buyer will have to opt for to avail the policy coverage is Rs.3,50,000 lakh.
      • This policy comes with a 5-year lock-in period.
      * Note: This plan is also offered under the Retirement and Child Insurance categories.
      Aviva Wealth Builder Plan
      • This is a non-participating, non-linked, life insurance plans that provides the policyholder twice the value of the overall premiums at maturity.
      • In the event of the policyholder’s death, the base sum assured is paid to the nominee.
      • This plan can be purchased for any individual between 5 and 50 years of age.
      • The policy buyer can opt for a policy tenure of 13 years, 15 years, or 17 years.
      • The minimum premium amount payable is Rs.50,000 in the case of regular premium policies and Rs.1,50,000 in the case of single premium policies.
      • The minimum and maximum sum assured for this plan are Rs.3 lakh and Rs.20 crore, respectively.
      * Note: This plan is also offered under the Retirement and Child Insurance categories.
      Aviva Dhan Vriddhi Plus Plan
      • This is a participating, non-linked, limited pay, endowment policy.
      • If the policyholder survives till maturity of the policy tenure, all premiums paid with the accrued bonus will be returned to the policyholder.
      • Policy buyers can opt for a premium payment term (PPT) of 5 years, 7 years, or 11 years.
      • This policy can be purchased by individuals between 18 and 50 years of age. The cover offered by this policy can be availed till one attains 70 years.
      • The policy tenure is 20 years.
      • The maximum sum assured that one can opt for is Rs.5 crore.
      • The minimum and maximum premium payable for this plan are Rs.21,258 and Rs.48,68,500, respectively.
      * Note: This plan is also offered under the Retirement and Child Insurance categories.
      Aviva Dhan Nirman Plan
      • This is a savings-cum-protection, non-linked, participating insurance plan.
      • The policyholder is offered guaranteed annual payouts, which can serve as a fixed source of income.
      • At maturity of the policy, the policyholder is eligible to receive a lump sum amount along with bonuses.
      • Premium rebates can be availed upon opting for a sum assured over Rs.5 lakh.
      • This policy cover can be purchased by/for anyone between the ages of 4 years and 50 years.
      • The policy buyer can opt for a policy tenure of 18 years, 21 years, 25 year, or 30 years.
      • The minimum sum assured that one will have to choose when purchasing this policy is Rs.2 lakh. The maximum sum assured that one can opt for is Rs.1 crore.
      • Premiums can be paid on a yearly, half-yearly, quarterly, or monthly mode.
      * Note: This plan is also offered under the Retirement and Child Insurance categories.
      Aviva Dhan Samruddhi Plan
      • This is a non-participating, non-linked, money-back insurance plan.
      • This policy provides guaranteed returns to the policyholder.
      • At maturity of the policy, the sum assured with guaranteed additions, excluding the survival benefit, is paid to the policyholder.
      • If you opt for a sum assured of Rs.5 lakh or more, you will be eligible to receive a rebate.
      • In order to be eligible to purchase this policy, the buyer needs to be between 13 years and 55 years.
      • Policy tenure options are 10, 15, and 20 years.
      • The minimum sum assured for this policy is Rs.1 lakh. The maximum sum assured is Rs.5 crore.
      • Premiums can be paid on an annual, bi-annual, quarterly, or monthly premium payment mode.
      * Note: This plan is also offered under the Retirement and Child Insurance categories.
      Aviva LifeBond Advantage Plan
      • This is a unit-linked, non-participating, single premium insurance policy.
      • Policy buyers can invest in up to 7 different unit-linked insurance funds.
      • This policy comes with a lock-in period of 5 years. Partial withdrawals can be made after the lock-in period.
      • To avail this policy’s coverage, the life assured needs to be between 2 and 65 years.
      • The policy buyer can opt for any policy term between 10 years to 73 years.
      • The minimum single premium payable is Rs.50,000.
      • This policy comes with an inbuilt Accidental Death Benefit cover.
      • The policyholder is given the option to switch between investment funds.
      • At maturity of the policy, the policyholder will receive the fund value.
      * Note: This plan is also offered under the Retirement and Child Insurance categories.
      Aviva Affluence Plan
      • This is a non-participating, unit-linked, life insurance plan.
      • Premiums can be paid for the duration of the policy tenure or for a limited premium payment term, i.e., 5 years, 7 years, 10 years, or 15 years.
      • Policy buyers can choose to invest in any of of the 7 funds offered by the insurer.
      • Partial withdrawals can be made to meet emergency liquidity needs.
      • In order to meet the insurer’s eligibility criteria, the policyholder should be between 2 years and 50 years.
      • Policy buyers can avail this policy’s coverage for 15 to 30 years.
      • The minimum premium payable for this plan is Rs.1 lakh.
      • This policy comes with an in-build Accidental Death Benefit cover, thus providing enhanced protection to the policyholder.
      * Note: This plan is also offered under the Retirement and Child Insurance categories.
    5. Aviva Child Insurance Plans:

    6. Aviva Child insurance plans are an ideal purchase for those parents/guardians looking to secure the lives of their children. These plans, by way of the payouts offered, help children meet key milestones in their lives. Some of the child insurance plans offered by Aviva Life Insurance are listed in the table below:

      Plan Name Key Features
      Aviva Young Scholar Advantage Plan
      • This is a non-participating, unit-linked, savings-oriented, insurance plan.
      • In the event of the parent/policyholder’s death, an immediate payout is provided to the child, future premium payments are waived off, and the policy continues to run as per schedule.
      • Policy buyers can invest in up to 7 funds. Partial withdrawals can be made after 5 policy years.
      • In order to enhance the fund value payable, the insurer offers loyalty additions.
      • In order to purchase this plan, the parent needs to be between 21 and 45 years, and the child needs to be between 0 and 17 years.
      • A policy term between 10 years and 25 years can be opted.
      • The minimum annual premium payable is Rs.50,000.
      • Premiums are to be paid on an annual basis to the insurer.
      Aviva Young Scholar Secure Plan
      • This is a non-participating, non-linked, life insurance plan.
      • Guaranteed annual payouts will be paid after the completion of the premium payment term until the child attains 17 years of age. When the child turn 18 years, a lump sum amount will be paid. Another lump sum amount will be paid when the child turns 21 years.
      • This policy will continue to run as per schedule even if the parent/policyholder passes away during the policy tenure.
      • Policy buyers can purchase the Aviva Term Plus Rider along with this policy.
      • Policy buyers need to be between 21 and 50 years to purchase this policy. The child will have to be under 12 years of age.
      • This plan comes with 4 plan variants - Silver, Gold, Diamond, and Platinum.
      • Premiums can be paid on annual, bi-annual, or monthly basis.
    7. Aviva Life Pension Plans:

    8. Retirement insurance plans provide a guaranteed income to the policy buyer during their post-retirement years, thus providing them financial security. A few retirement plans offered by Aviva Life Insurance include:

      Plan Name Key Features
      Aviva Annuity Plus Plan
      • This is a single premium payment, non-linked, non-participating, immediate annuity insurance policy.
      • This policy offers up to 7 annuity options to the policy buyer.
      • As a policyholder, you can top-up your pension policy in order to increase the benefit payable to you.
      • This retirement plan can be purchased by individuals between 18 years and 80 years of age (in case of Aviva pension policyholders).
      • The minimum purchase price of this policy is Rs.25,000. There is no maximum limit to the purchase price.
      • The minimum annuity instalment for this policy is Rs.500.
      • Annuity can be paid on a yearly, half-yearly, quarterly, or monthly basis.
      • Policyholders cannot avail a loan against this policy.
      • This policy comes with a free-look period of 15 days (30 days for policies sourced through distance marketing channels).
      Aviva Next Innings Pension Plan
      • This is a non-participating, non-linked, deferred pension policy.
      • The policyholder is assured a guaranteed lump sum at retirement.
      • In case of the policyholder’s untimely death, the premiums paid will be refunded to the nominee, with the applicable interest rate.
      • This is a limited premium payment policy.
      • Individuals between 42 years and 60 years can purchase this policy.
      • The maturity age can range between 55 and 78 years for this policy.
      • Policy buyers can choose a policy tenure of 15, 16, or 18 years.
      • The minimum premium amount payable for single premium policies is Rs.1,50,000 lakh. The minimum premium payable for limited premium policies is Rs.50,000 p.a.
      • Premiums can be paid as a one-time amount, or on a yearly, half-yearly, or monthly basis.
    9. Aviva Life Rural Plans:

    10. Rural insurance plans are those policies that have been specifically designed for the rural segments of society, in an effort to increase the penetration of life insurance products in these parts of India. Rural insurance plans offered by Aviva Life Insurance are listed in the table below:

      Plan Name Key Features
      Aviva Jana Suraksha Plan
      • This is a term insurance policy that provides financial security to the policyholder’s dependents.
      • This is an affordable life insurance policy.
      • In the event of the policyholder’s death during the policy tenure, a lump sum amount will be paid out.
      • In order to purchase this policy, the policy buyer needs to be between 18 years and 45 years.
      • The policy tenure can range between 5 years to 10 years.
      • Premiums can be paid as a single one-time amount or on a yearly, half-yearly, quarterly, or monthly basis.
      • Tax benefits can be availed as per the prevailing laws of the Income Tax Act, 1961.
    11. Aviva Life Health Plans

    12. :

      Aviva Life also offers a few health plans to protect the insured from various critical illnesses. These policies pay lump sum benefit against the diagnosis of any of the named critical illnesses mentioned in the policy schedule. The health plans offered by Aviva Life are given in the table below:

      Plan Name Key Features
      Aviva Health Secure
      • This policy provides lump sum benefit following the first diagnosis of any of the named critical illnesses.
      • It provides coverage against 12 critical illnesses.
      • Coverage is provided against cancer of specified severity, organ transplant, bone marrow transplant, kidney failure, multiple sclerosis, etc.
      • Anyone between the age of 18 years and 55 years can enter this policy.
      • The policy term ranges from 10 years to 30 years.
      • Policyholders can choose sum assured amount between Rs.5 lakh and Rs.50 lakh.
      • This policy provides tax benefits for the premium paid as per Section 80D of the Income Tax Act.
      Aviva Heart Care
      • This is a heart-specific insurance plans offered by Aviva Life.
      • Coverage is offered for up to 19 heart conditions.
      • This policy pays the chosen sum assured amount as fixed benefit irrespective of the cost of treatment.
      • Policyholders are eligible to make multiple claims under a single policy.
      • Entry age for this policy ranges from 28 years to 65 years.
      • The policy term ranges from 10 years to 25 years.
      • Sum assured amount for this policy ranges from Rs.10 lakh to Rs.50 lakh.
    13. Aviva Gratuity/Leave Encashment Plans:

    14. Aviva Gratuity and Leave Encashment Plans that are offered by Aviva Life help employers provide a life cover and financial security to their employees. The Gratuity and Leave Encashment Plans offered by Aviva are listed in the table below:

      Plan Name Key Features
      Aviva Group Gratuity Advantage Plan
      • This is a group unit-linked insurance plan.
      • This group plan can be customised in order to meet individual requirements.
      • The employer can avail tax benefits.
      • The employee is offered a risk cover against death.
      • Members are given the flexibility to invest in various funds.
      • The group is required to have a minimum of 10 members.
      • Members between 18 years to 74 years can be covered under this group plan.
      • The minimum sum assured that can be opted for is Rs.1,000 per employee, and the maximum sum assured that can be opted for is Rs.1 crore per employee.
      Aviva New Traditional Employee Benefit Plan
      • This is a non-participating, non-linked, variable insurance plan,
      • Employees between 18 years and 74 years can avail this policy.
      • The minimum contribution required for this plan is Rs.1 lakh.
      • The minimum group size for this plan is 10 members.
      • In the event of the employee’s death, a death benefit will be provided to the nominee.
      • Tax benefits, as per the prevailing laws of the Income Tax Act, can be availed.
      Aviva New Group Leave Encashment Plan
      • This is a unit-linked insurance plan.
      • Members can switch between funds.
      • Members between 18 years and 70 years can be enrolled under this plan.
      • The minimum contribution per insurance plan is Rs.1 lakh.
      • A mandatory life cover of Rs.1,000 will be provided to all employees.
      • This is an annual policy, and it can be renewed on a yearly basis.
    15. Aviva Plans for SMEs:

    16. The plans listed below are ideal for small and medium enterprises. These policies will support the business of these firms and will also provide financial security to the employees/partners of the company.

      Plan Name Key Features
      Business Pro Plans As a business owner, you can opt for the following plans.
      • Key Man Plan: This plan is especially catered towards your key employees.
      • Partnership Plan: This plan can help you provide financial security to business partners and shareholders.
      • Wealth Protection Plan: This plan will help you protect your wealth and create prosperity.
      • Supplementary Income Plan: This plan will provide you a supplementary income, thereby guaranteeing financial security during uncertain times.
      Employer Pro Plans The plans mentioned below can be taken by companies or business owners to provide financial security to employees.
      • Employer-Employee Insurance Plan: This plan can be taken to provide protection to your employees.
      • Gratuity Plan: The benefits provided by this plan can secure the future of your employees.
      • Employee Deposit Linked Insurance Scheme: This plan provides social security to the employee’s family.
      Family Pro Plans These plans can be bought under the Married Women’s Property Act (MWPA), 1974, by business owners to provide financial security to their families.
      • Term Plans: These plans will cover death of the policyholder and will also provide tax benefits.
      • Child Plans: These plans can safeguard children financially, and enable them to attain certain key milestones in their lives.
      • Health Plans: Health plans can provide a cover against hospitalisation expenses to the policyholder or insured members.
    17. Aviva Rural/Credit Protection Plans:

    18. The various rural and credit protection insurance plans offered to groups by Aviva Life Insurance are listed in the table below.

      Plan Name Key Features
      Aviva Credit Suraksha Plan
      • This plan provides financial security to members of unorganised groups.
      • This plan can provide a risk cover, which is flat, loan-linked, or graded, to members.
      • The member’s spouse can also be enrolled under this plan.
      • In order to avail the protection accorded by this plan, a minimum group size of 100 members is required.
      • Members have to be between 18 years and 64 years to avail this policy’s coverage.
      • This is a yearly-renewable policy.
      Aviva Group Life Protect Plan
      • This is a single premium, term insurance plan for groups.
      • The master policyholder needs to be a credit society, bank, or financial institution.
      • Groups are required to have at least 50 members in order to be eligible to avail this policy’s coverage.
      • Members have to be within 18 and 69 years to be covered under this plan.
      • The minimum sum assured, per member, for this plan is Rs.1,000.
      • The loan term will have to be between 1 year and 30 years, as per the terms and conditions of this policy.
    19. Aviva Plans for Armed Forces:

    20. Aviva Life Insurance also offers an insurance plan that is specifically designed for the Armed Forces. The key features and benefits of this policy are mentioned in the table below.

      Plan Name Key Features
      Aviva Suraksha Plan
      • This policy is catered especially towards members of the Armed Forces.
      • This initiative provides insurance cover to members during hostilities and war-like situations.
      • The claim settlement for this plan is simplified and time-efficient.
      • Minimum documentation is required to purchase this plan.
      • This policy can be services through all Aviva Life branches in India.
    • Digital Innovation in the Aviva Life Insurance sector

      The insurance sector has done remarkably well over the decades ever since its inception. The business models of the insurance industry have advanced with time and the accessibility of insurance by the layman has increased. However, consumer behaviour is slowly changing and people are slowly shifting focus from traditional mediums to the digital medium. A person who wishes to purchase a life insurance policy would rather do it online through the insurer’s website or through a third-party aggregator rather than go to the life insurance company branch office to carry out the procedures.

      Advertising through the digital medium

      While insurance was a much-ignored financial product in the past, it is slowly gaining importance thanks to the many awareness programmes conducted by insurance companies as well as the government. Millennials, today, are more attentive towards the significance and need for insurance. Therefore, as it is with today’s millennials, the digital medium reaches people much quicker than the traditional media such as TV or radio. Individuals prefer researching and buying policies online or through mobiles than pick up a form at a nearby branch to apply for a policy. With the advent of technology, many insurance companies and third-party aggregators aim to make the entire policy purchase process simple, paperless, and eliminate the involvement of brokers.

      New-age customer service

      A few insurance companies have come up with the concept of chatbots on their official websites. Chatbots, for eg. Aviva Life Insurance Self-Help Assistant (ALISHA) by Aviva Life Insurance, is a virtual assistant that can help solve queries related to insurance in an instant. In most cases, the services are available 24/7. The services of this Artificial Intelligence (AI)-based chatbot is not restricted to resolving queries but even provide quotes and information with regard to specific plans. The same insurer also has an SMS bot that sends answers to queries through SMSs.

      Digitisation of the functioning of the business

      Digital innovation is being done not only for insurer-insured interactions but to help better the business of the company too. Insurance companies are slowly subscribing to automation and analytics to improve their existing systems. The process eliminates human interactions, reduces loss-adjustments costs, and helps detect fraudulent activities. Technology can help evaluate problems, report incidents, and help understand the damage done in catastrophes. Additionally, developing mobile applications and hiring developers will further boost the process. Also, analyzing customer behaviour helps companies formulate new strategies.

      Conclusion

      The aim of the insurance industry is to reach out to as many people as possible in the country and ensure they have a smooth consumer experience. Creating awareness and simplifying processes will only help increase insurance penetration and in turn bring more revenue to the insurance companies. Life insurance is one of the earliest created insurance types and was designed for a good reason. The objective of a life insurance policy is to ensure that the earning member of the family does not leave his/her family financially stranded in case of his/her untimely death. It is hence absolutely essential for every earning member, whether he/she is the sole earning member or not, to cover himself/herself with a life insurance policy.

    How To Make A Claim With Aviva Life Insurance

    • If you need to file a death claim with Aviva Life Insurance, you will first have to contact the insurer on their customer care toll-free number. Alternatively, you can also choose to intimate the insurer by writing to them or even by informing them through the website. You can also walk into the nearest Aviva branch to intimate the insurer.
    • Post intimating the insurer of the upcoming death claim, you will have to complete the claim form. You will need to provide all relevant information on the claim form including the policyholder’s client ID, policyholder’s name, policy number, etc.
    • You will also have to provide certain supporting documents along with your claim form. You can choose to submit these documents in original or submit the photocopy. These documents will have to be attested by a Tahsildar, Gazetted Officer, Magistrate, etc. The complete list of documents to be submitted can be found on the insurer’s official website.
    • Post submitting the claim form and supporting documents, the insurer will review your claim.
    • A Claim Personal Manager will be assigned to each claim. The Claim Personal Manager will assist the claimant with regard to the claims process.
    • When a decision has been reached, it will be communicated to you, via the contact details provided by you. If the decision is favourable, you will receive the due settlement amount from the insurer.

    Claim settlement ratio of Aviva Life Insurance

    The company’s claim settlement ratio trend since 2011 is as follows:

    Year 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18
    Settlement Ratio 90% 88% 84% 83% 82% 91% 91% 94.45%

    Documents Required For Buying Aviva Life Insurance Policy

    The basic documents that are required to apply for an Aviva Life Insurance policy are:

    • ID Proof: This can be the policy buyer’s passport, Voter’s ID, Aadhaar, etc.
    • Age Proof: Your passport, Aadhaar, or Voter’s ID can be used for this purpose.
    • Income Proof: You will have to submit your recent pay slips to the insurer. Further, you might also be required to submit your bank statement.
    • Address Proof: The policy buyer may submit his/her passport, Aadhaar, or utility bills for this purpose.
    • PAN: The PAN will have to be linked to the policy, thus you will be required to submit your PAN card.

    How To Check Your Aviva Life Insurance Policy Status

    Customers can check the status of their policy through online and offline channels, as mentioned below:

    • You can check your life insurance policy status by navigating to the respective page on the insurer’s official website and keying-in your policy number and date of birth.
    • Alternatively, you can also send an email to the insurer with your policy number, mobile number, date of birth, and other details, for information about your policy.
    • You can call the insurer on their toll-free number and speak with a Customer Care Representative for updates about your policy.
    • Customers can also use the ‘Branch Locator’ feature on the insurer’s website and walk into the nearest Aviva Life Insurance branch to speak to a representative.

    Aviva Life Insurance Online Payment

    • You can pay your due premium amount on the Aviva Life Insurance website by keying-in your proposal number, contact number, and other details.
    • You can also pay your due premiums through Direct Debit, Airtel Money, Credit Card over IVR, NACH, Standing Instructions on your Credit Card, EBPP, and NEFT.
    • If you choose to pay your premium through offline channels, you can pay the due premium amount at the nearest Aviva/Axis Bank/CSC/Yes Bank/ICICI Bank branch.

    Aviva Life Insurance Premium Calculator

    • In order to calculate your premium, you will have to navigate to the Aviva Life Insurance website. Post this, you can click on the ‘Premium Calculators’ option in the menu.
    • Next, you will have to choose if you are a customer, partner, or DSF. You can then opt for the policy for which you want to calculate the premium.
    • After selecting a certain policy, you will have to enter a few personal details about yourself, such as your date of birth, age, gender, etc.
    • Post keying-in all the relevant details, you will be able to view the premium calculation illustration.

    Aviva Life Insurance FAQs

      1. Am I eligible to receive a rebate if I choose a high sum assured?

      Not all life insurance plans will provide you a rebate upon opting for a high sum assured, since the insurer will have varying terms and conditions for different policies. In order to know if you are eligible to receive a rebate or discount for choosing a high sum assured, you will have to go through your policy document.

      2. Will I have to pay a higher premium if I am a smoker?

      In most cases, insurance firms will charge tobacco users a higher premium amount due to the added risk that they will have to undertake. You might also have to pay a higher premium if you consume alcohol or have a high-risk job.

      3. Can Aviva Life Insurance plans be purchased online?

      While not all Aviva Life Insurance plans can be purchased online, the insurer does offer certain select plans to policy buyers, which can be purchased through the insurer’s official website. You might also be able to purchase certain insurance plans offered by Aviva Life Insurance on trusted third-party insurance websites.

      4. Can I avail a loan against my life insurance policy?

      In most cases, you can only avail a loan against insurance plans that have acquired a cash value. If you are eligible to take a loan against your policy, this will be clearly mentioned in your policy brochure. You can also choose to contact the insurer on their customer service channels and find out if you can avail a loan against your policy.

      5. Why is it important to check the claim settlement ratio of the insurer before purchasing a policy?

      Before purchasing a life insurance plan, it is essential that you check the claim settlement ratio of the insurer in order to gauge their effectiveness. The claim settlement ratio is the total number of death claims that have been approved by a certain insurance company against the total number of death claims they have received, for a given financial year. The claim settlement ratio is published in the IRDAI’s annual report on a yearly basis.

      6. What are the benefits of a child insurance plan?

      Child insurance plans are designed for parents who wish to financially secure the lives of their children, regardless of what may happen in the future. Thus, most child insurance plans offer a risk cover against death on the life of the parent, and in the event of the parent’s death the child is provided certain payouts. Further, future premium payments are also waived off by the insurer.

      7. Can I return my policy after purchasing it?

      Yes, you can return your policy after purchasing it during the free-look period. The free-look period usually ranges between 15 days and 30 days, and policyholders will be given the full premium paid, excluding a nominal charge, if they cancel their policy during the free-look period.

      8. How can I ensure that my nominee’s claim does not get rejected in case of an unfortunate eventuality?

      In order to ensure that your claim doesn’t get rejected, make sure to provide the insurer all information that is required without concealing any information. In case you are required to go through a pre-policy medical screening, make sure to take this up. Further, you will also have to pay all your due premiums without any delay to ensure your nominee doesn’t face any hassles while raising a claim.

      9. My Aviva Life Insurance policy has lapsed. How can I reinstate my policy?

      In order to reinstate your lapsed policy, you will have to follow the steps mentioned below:

      • Step 1: Fill-up the ‘Declaration of Good Health’ application.
      • Step 2: Provide all details of your policy along with supporting document.
      • Step 3: Make sure to fill and sign the claim form.
      • Submit this complete form to the nearest Aviva Life Insurance branch.

      10. What should I do if I lose my policy document during the policy tenure?

      If you have lost your original policy document, you will have to notify the insurer of this at the earliest. You will have to fill the Request Form and specify how you lost the document. Post this, you can submit the Request form along with Indemnity on a Rs.100 stamp paper, a recent photograph, and a photo ID proof. You will also have to pay a processing fee of Rs.250 to the insurer.

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    News About Aviva Life Insurance

    • As part of their women empowerment program, Aviva Life Insurance launches wings

      In order to spread their women empowerment cause, Aviva Life Insurance has launched their new campaign called Wings. Wings will be taken to corporate offices by Aviva Life Insurance and will help women address their needs and work towards the goal of women empowerment. The program will come with a women mentor who will take corporate female employees through the course and allow them to freely express themselves in a safe environment to address their concerns. The digital officer of Aviva Life Insurance said, A woman mentor for the female employees gives them an avenue to freely communicate in a safe environment, allowing them to focus on growth and improvement. Additionally, through mentoring, we also develop a leadership pipeline for the company, hence ensuring that the practice is not just beneficial to the individual but to the organization at large.

      14 March 2019

    • Aviva Life introduces ‘30-Minute Claim Decision’ for faster settlement of death claims

      Private life insurer Aviva Life has introduced a system called ‘30-Minute Claim Decision’, which focuses on intimating the claim decision to the dependents of the insured within a maximum of 30 minutes. This is introduced mainly to prevent the additional trouble for family members in the case of a death claim.

      Under the new process, the settlement letter is provided to the dependents within 30 minutes from the receipt of the claim. In this way, the family can avoid a lot of back and forth with the company following the death claim request. The approval will be provided by the branch right away, and the documents can be verified at the same branch.

      Existing policyholders who have completed three or more years with the company can avail this benefit from Aviva Life Insurance. The documents required for processing the claim can be submitted on any working day at the branch office of Aviva.

      13 December 2018

    • Aviva first Indian life insurer to be added to Alexa’s skill set

      Aviva Life Insurance announced the insurance company’s Alexa platform on Tuesday. Alexa users, in India, can now learn about the various insurance jargons easily through the voice-enabled commands. The objective of the new initiative is to increase the financial literacy of individuals of all ages across the world. During the Aviva India Plan Survey 2017, the company had found that Indians lag behind in financial planning including purchase of life insurance due to the apparent intimidating terms of a life insurance document. In order to help people understand insurance better, Aviva launched a skill in Alexa’s skill set. So now, all an individual has to do is open Aviva through Alexa and then ask questions with regard to insurance. Alexa will immediately reply with appropriate answers. Digitisation, innovation, and focus on financial literacy in the country being the insurer’s major goals, the company took this step towards creating a digital platform easily accessible to people. The insurance company believes that digitisation has helped various sectors and can be helpful in the insurance sector too. Understanding insurance better will help Indians take better decisions with regard to purchase, maintenance, and the overall insurance process.

      10 October 2018

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