• Aviva I-Life Protection 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

    Aviva i-Life Protection Plan is an insurance plan which is designed to provide you and your family a protection cover and ensure that their future is safe regardless of whether you are around or not. This particular plan provides you with various tax benefits under Section 80C of Income Tax Act,1961. You also have the option of reinstating the policy incase it lapses due to failure of premium payment. You can easily purchase the plan as well as pay your premiums and file your claims online.

    Eligibility - Who is the Aviva i-Life Protection Plan for?

    The eligibility criteria for this particular plan are given below:

    Parameters Criteria for eligibility
    Minimum age at entry 18 years
    Maximum age at entry 55 years
    Maximum age at maturity 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

    Sum Assured will be the minimum amount that will be paid to you by the insurer. The sum assured won’t contain any bonuses or benefits that you may be entitled to. The relevant information on sum assured for this plan is given in the table below:

    Minimum Sum Assured Rs.25 lakh
    Maximum Sum Assured No Limit

    Premiums*

    The premiums you will decide will depend on your sum assurance and will be equal to your policy term. The mode of premium payment is flexible and the insured can choose to pay his/her premiums either yearly or half-yearly. The relevant information on premiums  as per this plan is given in the table below:

    Policy Term
    • Minimum: 10 years
    • Maximum: 35 years
    Premium Payment Term (PPT) Equal to your policy term
    Premium Frequency Yearly and Half-Yearly

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

    Plan Coverage – What does the Aviva i-Life Protection Plan cover?

    Death Benefit Death Benefit will be paid to the nominee if the insured dies in an unfortunate event during the policy term. The nominee will get the sum assured of the policy.
    Maturity Benefit There are no maturity benefits available with this plan.

    Riders/Add-On Plans – Additional coverage under the Aviva i-Life Protection Plan

    There are no riders or add-on plans that one can purchase along with this plan.

    Exclusions - What the Aviva i-Life Protection Plan doesn’t cover?

    This particular plan has a suicide exemption. If the insured commits suicide within 12 months of purchase or revival of the plan, the nominee will be entitled to get 80% of the premiums paid.

    Other Key Features – Free-Look Period, Surrender Value, Grace Period, etc.

    Grace Period The premiums must be paid within 30 days or else the policy will cease to exist.
    Free Look Period A free-look period of 15 days are provided.
    Reinstatement of Policy If your policy lapses due to any reason, it can be reinstated within two years from the date of first unpaid premium. The fees for reinstatement of  policy is Rs.250.

    Tax Benefits – How you can save with the Aviva i-Life Protection Plan

    You will be eligible for tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961. Since, tax laws are subject to amendments, it is always advisable to consult a tax advisor incase of any query.

    Other Benefits of Aviva Life Insurance

    Aviva Life Insurance provides you with various other benefits apart from the policy benefits you will be entitled to.

    • Information about various products: You can find information on different products offered by Aviva Life Insurance before you decide to buy one most suitable for you.
    • Easy Purchase: You can easily purchase any insurance product of your choice online, thus saving you time and making the whole process hasslefree.
    • Manage your Policy: You can manage your policy just the way you want. Right from paying your premiums to filing claims to viewing your fund details, you can take care of your policy from the comfort of your home.
    • Planning: You can plan your life post retirement, or compute the cost of your children’s education by visiting the official website of Aviva Life Insurance.
    • Customer Service: You can call the toll-free number provided on the website to talk to a customer care executive incase of any queries or even ask them to call you back instantly by providing your contact details. You can mail them on their official email id as well.

    Why you should buy the Aviva i-Life Protection Plan?

    The i-Life Protection Plan is a simple and traditional life insurance plan that is designed to provide protection to you and your family and keep their future secured. The option to reinstate one’s policy incase it lapse along with a minimum sum assurance of Rs.25 lakh along with various tax benefits makes it a sought after insurance policy for its customers.

    Aviva Life Insurance is a joint venture between Dabur Invest Corp and Aviva International Holdings Limited who boast of being two of the oldest companies functioning today. Aviva boasts of having more than 40 million customer across 20 plus countries. Dabur Invest Corp is a flagship company of Dabur International. Aviva boasts of an extensive customer support and 100% success rate of consumers’ grievances addressed successfully.

    *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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