The Aviva Dhan Samruddhi Plan is a non-linked, non-participating money back plan that offers guaranteed returns. Everyone wants to build their savings so that achieving the long term financial goals can be easier. The Aviva Dhan Samruddhi Plan is a savings-cum-protection plan that allows the policyholder to build a corpus for his/her future investments. This plan gives back money to the policyholder periodically during the term of the policy. This helps him/her to take care of the ongoing financial needs easily.
In order to buy the Aviva Dhan Samruddhi Plan, a customer has to fulfil certain eligibility criteria with respect to his/her age and the amount of insurance he/she seeks. These conditions are as shown below:
|Parameters||Criteria for Eligibility|
|Minimum age at entry||13 years|
|Maximum age at entry||55 years|
|Minimum age at maturity||23 years|
|Maximum age at maturity||70 years|
|Term of the policy||10 years, 15 years or 20 years|
Sum Assured – It is the lump sum amount that the policyholder gets upon the maturity of the policy. In case the insured person encounters death in an unfortunate event, the sum assured is received by the nominee or beneficiary of the policyholder. Under the Aviva Dhan Samruddhi Plan, the maximum sum assured stands at Rs.5 crore and the minimum sum assured stands at Rs.1 lakh.
|Minimum assured sum||Rs.1 lakh|
|Maximum assured sum||Rs.5 crore|
Premium – It is the amount that the policyholder pays at one go or at regular intervals to keep the policy active and running. The premium payment modes that can be availed by the insured person under the Aviva Dhan Samruddhi Plan are yearly, half-yearly, quarterly and monthly. In case of monthly premium payment mode, only direct debit or ECS is allowed.
|Minimum premium for monthly mode||Rs.563|
|Minimum premium for quarterly mode||Rs.1,675|
|Minimum premium for half-yearly mode||Rs.3,302|
|Minimum premium for yearly mode||Rs.6,464|
|Maximum premium||Rs.47.53 lakh|
|Premium payment modes||Yearly, half-yearly, quarterly and monthly (ECS/direct debit only)|
|Modal factor for yearly premium payment mode||1.0000|
|Modal factor for half-yearly premium payment mode||0.5018|
|Modal factor for quarterly premium payment mode||0.2591|
|Modal factor for monthly premium payment mode||0.0871|
*Premiums may vary depending upon factors like age, location, term of the plan and applicable taxes/GST.
|Guaranteed Additions||If the policyholder pays all the premiums for a period of one year, he/she will get the accrued guaranteed additions at the end of the policy year.|
|Survival Benefit||The policyholder can avail survival benefit equivalent to 125% of the annualized premium at the 5th policy year end. However, all premiums must be paid by the policyholder to enjoy the survival benefit.|
|Maturity Benefit||In case the insured person survives till the end of the policy term, maturity benefit is payable. This includes the sum assured along with accrued guaranteed additions.|
|Death Benefit||In case the policyholder encounters death in an unfortunate event and the policy is still active, death benefit is received by the nominee or beneficiary of the insured person. The death benefit payout is the highest of:
Riders or Add-on Plans cannot be availed by the policyholder under the Aviva Dhan Samruddhi Plan.
In case the policyholder encounters death in an unfortunate event within a period of 12 months from the issuance date of the Aviva Dhan Samruddhi Plan, the beneficiary or nominee will get 80% of the premium excluding taxes and extra premiums, provided the policy is active. If the policyholder dies within a period of 12 months from the revival date of the policy, 80% of the premiums is paid to the legal heir of the insured person excluding extra premiums and taxes.
|Liquidity||The Aviva Dhan Samruddhi Plan offers 125% of the annualized premium.|
|High Sum Assured Rebate||Rebate on the basic premium can be availed if the sum assured chosen by the policyholder is Rs.5 lakh or more.|
|Revival or Reinstatement||The Aviva Dhan Samruddhi Plan can be revived within a period of 2 years from the date of first unpaid premium. A renewal fee or a reinstatement fee of Rs.250 is applicable. The insurer reserves the right to revival or reinstatement of the policy.|
|Grace period||A grace period of 30 days can be availed for payment of due premiums under this plan for the yearly, half-yearly and quarterly premium payment modes. In case of monthly premium payment mode, grace period of 15 days can be availed by the policyholder. The benefits remain unaffected during this period.|
|Surrender||If the policyholder pays all due premiums for the first 2 policy years, he/she can choose to surrender it after that. The surrender value that is payable under plan is higher of the SSV (Special Surrender Value) or GSV (Guaranteed Surrender Value).|
|Free look period||A free look period of 15 days can availed by the policyholder under the Aviva Dhan Samruddhi Plan. During this period, the policyholder can choose to return the policy if he/she does not like the terms of the plan.|
Tax benefits can be availed under the prevailing tax laws with the Aviva Dhan Samruddhi Plan by the policyholder.
Aviva Life Insurance Company is one of the top insurance providers in India. The insurance solutions offered by this company comes with great benefits and features. They are designed to meet the changing requirements and needs of the customers. This company is a joint venture of Aviva International Holdings Limited and Dabur Invest Corporation. The Aviva Dhan Samruddhi Plan allows the policyholder to build a corpus for his/her future investments.
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