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.
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 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 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:
|Premium Payment Term (PPT)||10 years|
|Premium Payment Frequency||
|Maximum Premium||Rs.47.53 lakh|
* Premiums will vary based on age, location, plan term, GST, and other factors.
|Death Benefit||In the event of unfortunate death of the insured, the beneficiary will get the higher of:
|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.|
There are no additional riders that one can purchase along with this policy.
|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.|
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.
Aviva provides you with various non-policy benefits as well. Some of the benefits provided are:
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.
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