Aviva brings to you a simple and traditional insurance plan designed to not only provide protection to you and your family but also ensure that you continue to get a regular stream of income. This particular plan also provides you with various benefits including tax and maturity. After your policy attains maturity, you also become eligible for a bonus as well. The plan is extremely flexible too keeping in mind your needs and financial capabilities as it allows you to change the frequency of your premium payments as well.
The eligibility criteria for this plan are given below:
|Parameters||Criteria for eligibility|
|Minimum age at entry||4 years|
|Minimum age at entry||50 years|
|Maximum age at maturity||75 years|
*Ages mentioned above are as on the policyholder’s last birthday.
Sum Assured is the minimum amount to be paid to the insured by the insurer. The sum assured won’t contain any benefits or bonuses you might be entitled to. All the relevant information regarding sum assured for this plan are given in the table below:
|Minimum Sum Assured||Rs.2 lakh|
|Maximum Sum Assured||Rs.1 crore|
The premium to be paid will be decided at the inception of the policy. The premium payable will depend on the sum assured, policy term and the premium payment term. All the relevant information regarding the payment of premium for this plan is given below in the table:
|Premium Payment Term (PPT)||
|Minimum Premium||Rs.14,486 p.a.|
|Maximum Premium||Rs.9,98,000 p.a.|
|Premium Payment Frequency||
* Premiums will vary based on age, location, plan term, GST, and other factors.
|Death Benefit||In the unfortunate death of the insured, the sum assured will be paid as death benefit to the beneficiary. Death Benefit payable will be highest of :
|Maturity Benefit||Maturity Benefit will be payable after the policy attains maturity provided that all the premiums have been duly paid.|
|Survival Benefit||If the insured survives post the completion of his/her premium payment term and provided all premiums have been paid on time, a survival benefit equal to 150% of the annual premium will be paid.|
There are no additional riders that one can purchase along with this policy.
|Grace Period||The grace period for yearly, half-yearly and quarterly premiums is 30 days and 15 days for monthly premiums.|
|Free-Look Period||A free-look period of 15 days are given.|
|Changing of Premium Frequency||You have the option of changing your premium frequency mode at any point of time in a policy year. A payment of Rs.100 will have to be made in order to avail this option.|
|Surrender Value||You have the option of surrendering your policy provided you have paid two years premiums.|
|Nomination||Nomination is allowed under Section 39 of Insurance Act, 1938.|
|Assignment||Assignment is allowed under Section 38 of Insurance Act, 1938.|
You are eligible for tax benefits under Section 80C of Income Tax Act, 1961. Since, income tax laws are subject to change, it is always advisable to consult a tax advisor in case of any queries or doubts.
Aviva Life Insurance not only provides you with various benefits that you are entitled to, but also presents you with various other non-policy benefits as their customer of Aviva Life Insurance. Some of the benefits provided are:
The Aviva Dhan Nirman Child Plan is a simple insurance plan which ensures that not only is your family’s future secured but the money you have invested in this policy also grows. Along with tax and maturity benefits that you are entitled to, the option of changing your frequency mode and even surrendering your policy incase you are unable to pay your premiums due to any reason makes it a sought after insurance policy.
Aviva Life Insurance is a joint venture between Dabur Invest Corp and Aviva International Holdings Limited, two of the oldest financial institutions in their own right. Aviva boasts of having more than 40 million customers spread across 20 plus countries. Dabur Invest Corp is a flagship company of Dabur International. Aviva Life Insurance has 100% success in addressing their customers’ grievances and is a recipient of various awards including ‘Certificate of Excellence’ at the PR Week Asia Awards 2014 in Hong Kong.
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