"Spending a whole day looking for insurance is fun," said nobody, EVER!
"Spending a whole day looking for insurance is fun," said nobody, EVER!
  • Aviva Child Plans

    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 Child Plans

    A child insurance plan is created with the intention to aid parents in the financial planning  for their children’s needs. A parent can easily and conveniently secure his/her child’s future by purchasing a child insurance plan that provides cover and helps save.

    Aviva child plans are designed in a way to cater to the needs of the parents. The plans help tackle rising costs due to inflation and provide returns too. Regular payouts can be availed at key milestones of the child’s life.

    Benefits of Aviva Child Plans

    • Premium rebate:Rebates are offered on policies that have a high sum assured.
    • Partial withdrawals:The insurer permits policyholders to make partial withdrawals from the policy up to a certain limit after the completion of a specific term.
    • Investment fund unit switching:Policyholders have the freedom to switch between investment fund types.
    • Tax benefits:Tax benefits can be availed under sections 80C and 10 (10D) of the Income Tax Act, 1961.

    List of Child Plans offered by Aviva Life Insurance

    The insurer has rolled out as many as 10 child plans for prospective policy buyers to choose from:

    1. Aviva Dhan Nirman

    This is a life insurance plan that one can use to save as well as cover one’s life. Guaranteed payouts are provided until the end of the policy term after the completion of the premium payment term. Bonuses are also provided along with death and maturity benefits. The minimum sum assured is Rs.2 lakh and the maximum is Rs.1 crore.

    Benefits and features of Aviva Dhan Nirman

    • Death Benefit: If the life assured passes away during the policy term, the death benefit payable is the higher amount of 10 times the annual premium paid, 105% of the total premium paid, the sum assured of the policy, or the maturity sum assured. Terminal bonus and simple reversionary bonus, if any, shall be paid along with the death benefit. The policy will terminate once the death benefit and bonuses are paid to the nominee.
    • Maturity Benefit: If the life assured survives until the day of maturity of the policy, the maturity benefit is payable to the policyholder. The maturity benefit is calculated based on the policy term chosen by the policyholder at the time of inception of the policy. Terminal bonus and simple reversionary bonus, if any, shall be paid with the maturity benefit. The policy will terminate once the payments are made.
    • Surrender Benefit: If the policyholder decides to surrender the policy before the completion of the policy, he can do so if the premiums for 2 policy years have been paid. On surrender, he will be eligible to receive the surrender benefit which is the higher amount – guaranteed surrender value or special surrender value.
    • Survival Benefit: If the life assured survives beyond the premium payment term, survival benefits amounting to 150% of the annual premium is payable on each policy anniversary, provided all premiums are paid.
    Plan name Entry age Maturity age Premium
    Aviva Dhan Nirman Minimum: 4 years Maximum: 50 years 75 years Minimum annual premium: Rs.14,486 Maximum annual premium: Rs.9,98,000
    1. Aviva Dhan Samruddhi

    The plan helps save for expenses one might occur in the future. Guaranteed payouts provided every five years helps manage short-term expenditures. The plan also offers a maturity benefit if the policyholder survives the policy term. The minimum sum assured for the plan is Rs.1 lakh and the maximum is Rs.5 crore.

    Benefits and features of Aviva Dhan Samruddhi

    • Death Benefit: On the death of the life assured, the highest amount – 10 times the annual premium, 105% of the total premium paid, or the sum assured of the policy is payable to the nominee of the policy as the death benefit.
    • Maturity Benefit: On maturity of the policy, the maturity benefit equal to the sum assured along with the guaranteed additions is payable to the policyholder. Survival benefits paid earlier are deducted from the amount payable.
    • Surrender Benefit: A policy can be surrendered if the premiums for 2 policy years are paid by the policyholder. The surrender benefit is equal to the higher amount – guaranteed surrender value or special surrender value.
    • Survival Benefit: The insurer offers a survival benefit at the end of a span of 5 policy years. The survival benefit is 125% of the annual premium. The survival benefit is not payable during the maturity year. The policyholder should have paid all the premiums in order to avail the benefit.
    Plan name Entry age Maturity age Premium
    Aviva Dhan Samruddhi Minimum: 13 years Maximum: 55 years Minimum: 23 years Maximum: 70 years Minimum annual premium: Rs.6,454 Minimum half-yearly premium: Rs.3,302 Minimum quarterly premium: Rs.1,675 Minimum monthly premium: Rs.563 Maximum premium: Rs.47.53
    1. Aviva Life Bond Advantage

    This is a ULIP that offers an opportunity to policyholders to invest a certain sum of money and access the investment after the completion of 5 years. The plan offers 7 fund options for the investor to choose from - Protector Fund-II, Bond Fund-II, Balanced Fund-II, Growth Fund-II, PSU Fund, Infrastructure Fund, and Enhancer Fund-II. The base sum assured is 1.25 times the single premium chosen.

    Benefits and features of Aviva Life Bond Advantage

    • Death Benefit: If the life assured passes away during the policy term, the higher amount – the sum assured, fund value with respect to the single premium, or 105% of the single premium is paid. In addition, the higher amount – top-up sum assured, fund value with respect to top-up premiums, or 105% of the top-up premiums paid is paid to the nominee. The top-up sum assured is 1.25 times the top-up premium paid.
    • Accidental Death Benefit: In case the death of the policyholder was caused by an accident, an additional benefit equal to the sum assured of the base plan is payable to the nominee. This benefit is available only for those who are between ages 18 and 60. The maximum sum payable under this benefit is Rs.50 lakh.
    • Maturity Benefit: The maturity benefit payable, if the policyholder survives the term, is equal to the fund value of the policy.
    Plan name Entry age Maturity age Premium
    Aviva Life Bond Advantage Minimum: 2 years Maximum: 65 years Minimum: 18 years Maximum: 75 years Single premium: Minimum: Rs.50,000 Maximum: No limit Top-up: Minimum: Rs.5,000 Maximum: Up to the total sum of premiums paid
    1. Aviva Wealth Builder

    The plan protects the life assured’s family against the possibility of unfortunate death of the life assured. The plan provides double the sum of the premiums paid by the policyholder on maturity. The sum assured amount depends on the premium payment term and the modes of premium payment.

    Benefits and features of Aviva Wealth Builder

    • Death Benefit: On the death of the policyholder during the policy term, the sum assured is payable to the nominee as the death benefit, provided all premiums are paid by the policyholder.
    • Maturity Benefit: On survival until the maturity date of the policy, the policyholder will be given an amount equal to the sum assured as the maturity benefit, provided all premiums are paid.
    • Surrender Benefit: The higher amount of the guaranteed surrender value and special surrender value is payable as the surrender benefit if the policyholder surrenders the policy before completion of the term. The surrender benefit can be availed only if the policyholder has paid the premiums for 2 policy years.
    Plan name Entry age Maturity age Premium
    Aviva Wealth Builder Minimum: 5 years Maximum: 50 years Depends on the policy term chosen Minimum: Regular – Rs.50,000 per annum Single – Rs.1,50,000 Maximum: Rs.1 crore
    1. Aviva Young Scholar Advantage

    This is a unit-linked life insurance plan that has been designed to cater to the education needs of children. The returns received from the plan can be utilised at key milestones of the child’s education. The policyholder can choose from 7 unit-linked fund types offered by the insurer - Balanced Fund-II, Bond Fund-II, Enhancer Fund-II, Growth Fund-II, Infrastructure Fund, Protector Fund-II, and PSU Fund. The sum assured is calculated based on the annual premium and policy term chosen.

    Benefits and features of Aviva Young Scholar Advantage:

    • Death Benefit: In case of death of the life assured, the higher of the maturity sum assured, 105% of the total premium paid, or ten times the annual premium is payable as the death benefit.
    • Accidental Death Benefit: In case the death of the policyholder was caused by an accident, an additional benefit equal to the sum assured of the base plan is payable to the nominee. This benefit is available only for those who are aged below 60 years.
    • Maturity Benefit: The maturity benefit payable on the maturity of the policy is decided based on the premium option chosen by the policyholder.
    • Surrender Benefit: If the policyholder surrenders the policy before the completion of the term, the surrender benefit equal to the higher amount – guaranteed surrender value or special surrender value is payable to the policyholder. This benefit can be availed only if all premiums are paid for 2 policy years.
    Plan name Entry age Maturity age Premium
    Aviva Young Scholar Advantage Parent: Minimum: 21 years Maximum: 50 years Child: Minimum: 0 years Maximum: 12 years Parent: Maximum: 71 years The premium payable depends on various factors like the sum assured, premium payment period, premium payment mode, etc.
    1. Aviva Young Scholar Secure

    This is a non-linked plan meant to aid parents fund their child’s education needs. Annual payouts and lump sum payouts at regular intervals prove to be beneficial. The sum assured will depend on factors like age of the policyholder, policy term, plan option, etc.

    Benefits and features of Aviva Young Scholar Secure

    • Death Benefit: The death benefit payable to the nominee on the death of the life assured is equal to either the sum assured or 105% of the total premium paid, whichever is higher. The future premiums payable until the completion of the policy term are waived off.
    • Accidental Death Benefit: In case the cause of death of the life assured was an accident, an additional sum is paid as the accidental death benefit. The accidental death benefit is equal to the base sum assured and the maximum limit is Rs.50 lakh.
    • Maturity Benefit: The fund value of the policy with respect to the regular premium and top-up premium at the time of maturity will be payable as the maturity benefit.
    • Surrender Benefit: If the policyholder chooses to surrender the policy, he/she will receive the guaranteed surrender value or the special surrender value, whichever is higher, as the surrender benefit.
    Plan name Entry age Maturity age Premium
    Aviva Young Scholar Secure Parent: Minimum: 21 years Maximum: 45 years Child: Minimum: 0 years Maximum: 17 years Maximum: 60 years The premium payable depends on various factors like the sum assured, premium payment period, premium payment mode, etc.
    1. Aviva i-Growth

    Aviva i-Growth is a ULIP that can help an individual accelerate his/her hard earned money as well as provide life cover. This special plan needs no medical examination for purchase and can be bought online. The plan offers 3 fund types that the policyholder can opt for - Balanced Fund-II, Bond Fund-II, and Enhancer Fund-II. While the minimum sum assured is Rs.3.5 lakh, the maximum sum assured is Rs.50 lakh for the 18 years to 40 years age group and Rs.30 lakh for the 41 years to 50 years age group.

    Benefits and features of Aviva i-Growth

    • Death Benefit: In case the life assured expires during the policy tenure, the death benefit paid to the nominee is equal to the sum assured, 105% of the total premium paid, or the fund value, whichever is the highest amount.
    • Maturity Benefit: If the policyholder survives the policy term, the fund value is payable as the maturity benefit.
    • Surrender Benefit: If the policyholder chooses to surrender the policy, he/she will receive the guaranteed surrender value or the special surrender value, whichever is higher, as the surrender benefit.
    Plan name Entry age Maturity age Premium
    Aviva I-Growth Minimum: 18 years Maximum: 50 years Maximum: 60 years The premium payable depends on various factors like the sum assured, premium payment period, premium payment mode, entry age, etc.
    1. Aviva Family New Income Builder

    This savings-cum-protection life insurance plan provides guaranteed payouts for 12 years after completion of a 12-year premium payment term. The death benefit is offered in instalments to help family members manage regular expenses. The sum assured is calculated by multiplying the annual premium with 24. The minimum sum assured of the policy is Rs.9.6 lakh and maximum is Rs.24 crore.

    Benefits and features of Aviva Family New Income Builder

    • Death Benefit: If the life assured passes away during the policy term, the death benefit payable is the higher amount of 10 times the annual premium paid, 105% of the total premium paid, the sum assured of the policy, or the maturity sum assured.
    • Maturity Benefit: The total maturity amount payable on maturity of the policy depends on the instalment option chosen by the policyholder.
    • Surrender Benefit: The higher amount of the guaranteed surrender value and special surrender value is payable as the surrender benefit if the policyholder surrenders the policy before completion of the term.
    Plan name Entry age Maturity age Premium
    Aviva Family New Income Builder Minimum: 6 years Maximum: 50 years Minimum: 18 years Maximum: 62 years Minimum annual premium: Rs.40,000 Maximum annual premium: Rs.1 crore
    1. Aviva Dhan Vriddhi Plus

    This is a traditional endowment plan that comes with a traditional limited pay feature with flexibility to choose a suitable premium payment term. While providing a life cover, the plan also helps the individual to save systematically to create an adequate corpus for his/her child’s future. The sum assured depends on the policy payment term and entry age of the policyholder.

    Benefits and features of Aviva Dhan Vriddhi Plus

    • Death Benefit: On the unfortunate death of the life assured during the policy term, the death benefit payable is equal to 10 times the annual premium paid, 105% of the total premium paid, the sum assured of the policy, or the maturity sum assured, whichever is the highest amount.
    • Maturity Benefit: If the policyholder survives until the date of maturity of the policy, 100% of the premiums paid will be returned, provided all premiums are paid. After payment of the maturity benefit, the policy will terminate.
    • Surrender Benefit: If the policyholder surrenders the policy before completion of the term, the higher amount of the guaranteed surrender value and special surrender value is payable as the surrender benefit. The surrender benefit can be availed only if the policyholder has paid the premiums for 2 policy years.
    Plan name Entry age Maturity age Premium
    Aviva Dhan Vriddhi Plus Minimum: 18 years Maximum: 50 years 70 years Minimum annual premium: Rs.21,258 Maximum annual premium: Rs.48,68,500
    1. Aviva Affluence

    This is a non-participating ULIP that allows individuals to pay premiums for a limited period of time and enjoy the benefits of the plan throughout the policy term. The plan offers 7 investment fund options - Balanced Fund-II, Bond Fund-II, Enhancer Fund-II, Growth Fund-II, Infrastructure Fund, Protector Fund-II, and  PSU Fund. The minimum and maximum sum assured amount that can be availed are calculated based on the policy term, age and annual premium.

    Benefits and features of Aviva Affluence

    • Death Benefit: In case of death of the policyholder during the policy term, the sum assured, fund value, or 105% of the total premium paid, whichever is the highest, is payable as the death benefit to the nominee.
    • Accidental Death Benefit: In case the death of the policyholder was caused by an accident, an additional benefit equal to the sum assured of the base plan is payable to the nominee. This benefit is available only for those who are between ages 18 and 60.
    • Maturity Benefit: On survival till the end of the policy term, the insurer provides a maturity benefit equal to the fund value of the policy.
    • Surrender Benefit: On surrender of the policy, either the guaranteed surrender value or the special surrender value, whichever is higher, is payable to the policyholder as the surrender benefit.
    Plan name Entry age Maturity age Premium
    Aviva Affluence Minimum: 2 years Maximum: 50 years Minimum: 18 years Maximum: Varies with the premium payment term Minimum: Regular – Rs.1 lakh Top-up premium – Rs.5,000 Maximum: No limit

    Why do you need Aviva Child Plans?

    Aviva life insurance is one of the most preferred life insurance companies that focus on providing the best services to its customers. It hence had a 100% grievances solved ratio in FY 2016-17. With over 15,000 financial advisors and 107 branch offices, Aviva provides an array of life insurance products for individuals and groups. Customers can use the official website of the insurer to pay premiums, file claims, view fund details, manage policies, etc. They also feature premium calculators, marriage calculators, wealth planners, retirement planners, etc. for prospective buyers.

    This insurance company/organisation is not a partner of Bankbazaarinsurance.com. The content provided here is for informational purposes only. Readers should visit the branch office/website of the insurer for more details. The logos, trademarks, and other intellectual property on display belong to their respective owners.

    *The customer reviews/feedback/opinions expressed on this website are solely of their authors and do not reflect, in any way, the view of BankBazaar Insurance.

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.