Offering financial protection for a family following the death of the breadwinner or group member enrolled, Aviva Life Insurance has rolled out the Aviva Credit Plus Rural/credit protection plan. The Aviva Credit Plus Rural/credit protection plan is a group term insurance plan that grants protection against loan liability in case of untimely death of the group member.
To be eligible for the Aviva Credit Plus Rural/credit protection plan, group members have to meet certain criteria with regard to their age.
|Minimum Entry Age||18 years|
|Maximum Entry Age||50-55 years (depending on the group profile)|
Sum Assured: The maximum sum assured for the Aviva Credit Plus Rural/credit protection plan is Rs.50,000.
Premium: The premium depends on the average age of the group, the size of the group and the occupation of the group. Policyholders can pay the premiums either annually, half-yearly, quarterly or monthly.
|Sum Assured||Rs.50,000 (maximum)|
|Policy Term||1 year (renewable)|
|Premium frequency||Annual, half-yearly, quarterly or monthly|
The Aviva Credit Plus Rural/credit protection plan comes with death benefits.
|Death benefit||In case of untimely death of the group member, the nominee of the group member will be entitled to a greater of the sum assured - depending on the outstanding loan dues of the deceased group member.|
In accordance with the Income Tax Act 1961, policyholders of the Aviva Credit Plus Rural/credit protection plan can avail tax benefits under:
The Aviva Credit Plus Rural/credit protection plan offers financial protection to families when they need it the most. Following the death of the group member enrolled in the Aviva Credit Plus Rural/credit protection plan, the plan offers coverage for any pending loan dues - giving financial stability to the family of the deceased when they need it the most.
Aviva India Life Insurance currently has over 32 million customers from 16 different countries since its inception in 2002. Aviva India Life Insurance recorded a 82% claim settlement ratio, making them one of the most reliable insurers in the country in this regard. To the satisfaction of their customers, Aviva India Life Insurance has a variety of insurance products on offer - from life to health to protection plans and so on - ensuring that customers across the country have a plethora of products to choose from, one that suit their financial status and need.
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