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  • Aviva Dhan Samruddhi Retirement Plan

    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
    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 brings to you Dhan Samruddhi Plan, which is a traditional life insurance plan aimed at providing cover and also guarantees cash back every 5 years. The plan also ensures guaranteed returns of 7% per annum to 9% per annum of the annualised premium. The policy also pays you back 125% of annualised premium along with various benefits including tax and maturity benefit. You also get guaranteed additions to your funds at the end of each policy year.

    Eligibility - Who is the Aviva Dhan Samruddhi Plan for?

    The eligibility criteria for this plan are given in the table below:

    Parameters Criteria for eligibility
    Minimum age at entry 13 years
    Maximum age at entry 55 years
    Minimum Maturity Age 23 years
    Maximum Maturity Age 70 Years

    *Ages mentioned above are as on the policyholder’s last birthday.

    Sum Assured and Premium Range - What you get and what it costs?

    Sum Assured is the minimum amount the insured will get from the insurer. The sum assured will not contain any bonus or benefits the insured might be entitled to. The sum assured payable for this plan is given in the table below:

    Minimum Sum Assured Rs.1 lakh
    Maximum Sum Assured Rs.5 Crore

    Premiums*

    Premiums to be paid by you will be decided at the inception of the policy depending on your policy term, premium payment term and the frequency at which you will pay your premium. Relevant information on premiums payable for this plan are given in the table below:

    Policy Term
    • 10 year
    • 15 years
    • 20 years
    Premium Payment Term (PPT) 10 years
    Premium Payment Frequency
    • Yearly
    • Half-Yearly
    • Quarterly
    • Monthly
    Minimum Premium
    • Rs.6,464 for Yearly Mode
    • Rs.3,302 for Half-Yearly
    • Rs.1,675 for Quarterly mode
    • Rs.563 for Monthly mode
    Maximum Premium Rs.47.53 lakh

    * Premiums will vary based on age, location, plan term, GST, and other factors.

    Plan Coverage – What does the Aviva Dhan Samruddhi Plan cover?

    Death Benefit In the event of unfortunate death of the insured, the beneficiary will get the higher of:
    • 10 times the annualised premium or
    • Sum assured or
    • 105% of all the premium paid
    Maturity Benefit The insured will be paid the sum assured as the maturity benefit as and when the policy attains maturity.
    Survival Benefit The insurer gets a survival benefit equal to 125% of the annualised premium plan at the end of every 5th policy year.

    Riders/Add-On Plans – Additional coverage under the Aviva Dhan Samruddhi Plan

    There are no additional riders that one can purchase along with this policy.

    Other Key Features – Free-Look Period, Grace Period, Partial Withdrawal, etc.

    Grace Period A period of 30 days is given if your mode of payment is yearly, half-yearly or quarterly. 15 days if your mode of payment is monthly.
    Free-Look Period A free-look period of 15 days is provided.
    Guaranteed Addition Based on your policy term, you will be eligible for guaranteed additions to your fund at the end of each year.

    Tax Benefits – How you can save with the Aviva Dhan Samruddhi Retirement Plan

    You are eligible for tax benefits under Section 80C of the 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.

    Other Benefits of Aviva Life Insurance

    Aviva provides you with various non-policy benefits as well.  Some of the benefits provided are:

    • Information about various products: You can browse through various products offered by Aviva.
    • Buy your plan online:  You can purchase the plan of your choice from the official website of Aviva thus saving you time.
    • Manage your policy: You can manage your policy from the comfort of your home. Whether its paying your premium or filing your claim, Aviva allows you to manage your profile the way you want.
    • Planning: Aviva also helps you in planning for your future. For example if you want to know the cost you will need to sustain your current standard of living, or the cost of your children’s education, Aviva helps you with making the required calculations based on which you can then make your financial decisions.
    • Customer Service: Aviva boasts of an extensive customer care service. You can call them on their toll free number or mail them on their official email id. The customer care support executives are available for you 24x7 whenever you want.

    Why you should buy the Aviva Dhan Samruddhi Plan?

    Dhan Samruddhi Retirement Plan is a traditional insurance plan which not only provides cover but also guarantees cashback every 5 years. Apart from tax and maturity benefits that you would be eligible for, you are also qualified for survival benefit and guaranteed additions to your fund which makes it one of the most sought after insurance plans.

    Aviva boasts of an extensive customer care support and has 100% success rate in addressing their customers grievances. Aviva is also recipient of various awards including ‘Certificate of Excellence’ at the PR Week Asia Awards 2014 in Hong Kong.

    *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.

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