• Aviva I-Shield 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 Life Insurance i-Shield Plan

    The i-Shield Plan from Aviva Life Insurance is a non-participating, non-linked, term insurance policy. Under this plan, the nominee will receive a substantial Death Sum Assured, if the policyholder passes away during the policy tenure. The insurer will also pay the life assured 110% of the total premiums paid during the policy term, if the policyholder survives till maturity.

    Eligibility - Who is the Aviva Life Insurance i-Shield for?

    In order to purchase this policy, prospective policy buyers need to meet the eligibility criteria that is set by the insurer.

    Parameters Criteria for eligibility
    Minimum age at entry 18 years
    Maximum age at entry 55 years
    Maximum age at maturity 65 years

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

    Sum Assured

    The Sum Assured is an amount of money that the life assured or his/her nominee will receive from the insurer. For the i-Shield Plan, if you choose a Sum Assured amount that is higher than Rs.20 lakh, you will receive discounts/rebates from the insurer.

    Minimum Sum Assured Rs.15 lakh
    Maximum Sum Assured Rs.5 crore


    As a policyholder, you will have to pay a premium or a fee to your insurer in order to enjoy the many benefits of your Aviva Life i-Shield policy. Certain aspects related to your premiums are listed below:

    Minimum term of the policy 10 years
    Maximum term of the policy 25 years
    Premium Payment Mode
    • Yearly
    • Half-Yearly
    • Monthly

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

    Plan Coverage - What the Aviva Life Insurance i-Shield Plan covers

    Death Benefit If the policyholder passes away during the policy tenure, the nominee will receive the death sum assured from the insurer. The sum assured will vary as per the policy year in which the policyholder passes away.
    • 1st to 10th policy years – Sum Assured as is (100%)
    • 11th to 20th policy years – 110% of the the Sum Assured amount
    • 21st to 25th policy years – 120% of the the Sum Assured amount
    The death benefit will be the highest of the following:
    • 10 times the annualized premium,
    • 105% of the total premium paid,
    • Amount payable at the end of the policy term, or
    • Death Sum Assured, as given above
    Maturity Benefit If the life assured survives till the completion of the policy tenure, he/she will be paid 110% of the total premiums paid, by the insurer.

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

    There are no riders or add-on plans that you can buy in order to customise the protection accorded to you, by this plan.

    Exclusions - What the Aviva Life Insurance i-Shield Plan doesn’t cover

    • If the life assured commits suicide within 12 months from the commencement of the i-Shield policy, the nominee will receive 80% of the total premiums paid by the policyholder.
    • If the life assured commits suicide within 12 months from the date of revival, the insurer will pay the nominee the higher of either the Surrender Value of the policy or 80% of the total premiums.

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

    Grace Period The grace period is 15 days for premiums paid by the monthly mode, while the grace period is extended to 30 days for premiums paid by all other modes.
    Free-Look Period The free-look period for this policy is 30 days, during which time you can choose to return the policy if you are not satisfied with the policy terms and conditions.
    Policy Lapse If you have paid all due premiums for less than 3 years, and you have failed to pay the next premium before the end of the grace period, your Aviva i-Shield policy will lapse.
    Policy Reinstatement You can choose to reinstate your lapsed policy within 2 months from the date of the first unpaid premium.
    Paid-Up Policy If premiums have been paid for a minimum of 3 years, and the subsequent premium has not been paid, the policy will be converted into a paid-up policy.
    Surrender Value You can surrender your i-Shield policy after 3 policy years, as long as you have paid a minimum of 3 years’ due premiums. The Surrender Value payable by the insurer will be the highest of the two listed below:
    • Guaranteed Surrender Value (GSV), or
    • Special Surrender Value (SSV)
    Rebate for High Sum Assured If you opt for a Sum Assured that’s higher than Rs.20 lakh, you are eligible for a rebate/discount.
    Loan Policyholders can’t apply for a loan against this policy.
    Medical Examination When you purchase this policy, your medical examination costs will be borne by the insurer. However, if you are required to undergo medical tests in order to revive your policy, you will have to pay for your medical examination.
    Nomination Nomination is permitted as per Section 39 of the Insurance Act, 1938.
    Assignment Assignment is permitted as per Section 38 of the Insurance Act, 1938.

    Other Benefits – How you can save with the Aviva Life Insurance i-Shield Plan

    • Online Policy Purchase: You can purchase the Aviva i-Shield Plan directly through the insurer’s website, without having to visit a company branch.
    • Pay Premiums Online: You can pay your premiums on Aviva Life’s website, through Direct Debit, Airtel Money, EBPP, NEFT, Credit Card, etc.
    • Customer Care: Members can reach the Customer Service team of the insurer by mail, SMS, the toll-free number 1800-103-7766, or by requesting for a call-back on the insurer’s website.
    • View Performance of Funds: You can view the performance of various funds on the insurer’s website.

    Why you should buy the i-Shield Plan from Aviva Life Insurance Company

    The i-Shield Plan from Aviva is a smart way to safeguard yourself and your dependents from financial troubles in the future. Not only does this plan guarantee the return of all premiums at maturity, but it also pays the nominee a considerable death benefit, if the life assured meets with an untimely death. Added to the many benefits provided to you by this plan, you can also buy this policy online, in a hassle-free manner.

    Aviva Life Insurance Company is a joint venture between the Aviva Group and Dabur Invest Corp. The JV insurance firm was set-up in the year 2002. Today, Aviva has over 13,500 financial advisors, 108 branches, and a varied range of insurance products. The insurer also undertakes several CSR (Corporate Social Responsibility) initiatives, and has associated itself with various trusts and foundations to help educate underprivileged children in India.

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