Insurance Plans September 9, 2019

Aviva Life Insurance Company Term Plans in India

Aviva Life Insurance Company Term Plans in India 2019

Aviva Life Insurance Company is a joint venture between two leading companies who are pioneers in their own fields. Dabur, which is one of the oldest brand names in India in the healthcare sector and Aviva, a UK based company running successfully in the insurance business since 1834, are the pillars of this collaboration. The company holds the credit for being one of the first in the field to introduce Unit Linked Insurance Plans and has brought comprehensive Child Insurance Plans too. It has 63 functional units all across India working with a professionally skilled workforce of over 15000 advisors. The immaculate service and speedy claim settlements of the company have earned the trust and confidence within different sectors of investors.

The company has the vision to provide education and protection to underprivileged children and has undertaken several projects in the direction. The tireless efforts of the company to provide rural development projects and social services through its range of products and services are the marks of a thriving business. The Aviva group has been recognized for its contribution through various awards by renowned and established agencies. The continuous growth of the company has led to increasing faith and trust among the people for the company.

Aviva Life Insurance Individual Plans

The Individual Insurance Plans offered by Aviva Life Insurance Company are planned with individual needs in perspective and provide financial security for the insured person and the family. These plans are found in all sectors and provide unique benefits and features to suit the various needs and requirements of the consumers. Listed below are the various insurance plans under this category:-

Health Insurance

Health is wealth and what better way to secure this wealth through an investment made in the right direction. The Health Insurance Plan of Aviva helps to secure an individual policyholder and his family for all kinds of expenses arising out of medical emergencies.  This category has the following plan:-

Aviva Health Secure

The Aviva Health Secure Plan covers 12 critical medical conditions for an amount as fixed by the policyholder ranging from Rs.5 lakhs to Rs.50 lakhs. The policy can be availed by individuals between the age of 18 to 55 years with the maturity age between 28-65 years. This plan is strictly a Health Insurance Plan and has no obligations in case of death, maturity or surrender of the policy.

Savings Plan

Aviva Insurance offers 7 types of savings plans under this category offering various benefits for various needs. Each segment has its own individual feature keeping particular security and future needs of the policyholder as the main prerogative. In addition to offering assured incomes, these plans also provide death benefits with flexible tenures and convenient premium payments.

  • Aviva Dhan Nirman

  • Aviva Dhan Samriddhi

  • Aviva iGrowth

  • Aviva Life Bond Advantage

  • Aviva Live Smart

  • Aviva Family New Income Builder

  • Aviva Wealth Builder

  • Aviva Dhan Vriddhi Plus

Retirement Plan

Retirement or Pension Plans is an important part of financial planning for an individual to lead a secure life post-retirement. Financial security is of prime importance in the later stages of life and Aviva Retirement Plans are aimed particularly for this purpose. These plans provide a steady flow of money in the later years and help to meet financial needs. Aviva Insurance offers the following Pension Plans under this category:-

Aviva Next Innings Pension Plan

The Aviva Next Innings Pension Plan is a deferred annuity plan which provides a lump sum amount at maturity along with the benefit of a regular income post-retirement of the insured person. The policyholder can avail 210% of the total premium paid on maturity and in the event of the death of the insured, the nominee can withdraw the total amount or opt for an annuity.

Aviva Annuity Plus

The Aviva Annuity Plus Plan provides a monthly fixed amount to the policyholder after retirement. There are 5 different annuity options to choose from depending upon the individual preference and the needs of the policyholder. The plan offers tax benefits as per the Income Tax Law and death benefits with the total payable amount is guaranteed in the event of the death of the person insured.

Child Insurance Plans

Aviva Child Insurance Plans are designed keeping the educational and other basic needs of the children in view along with the withdrawal facility if the need arises. It is the best investment that a parent can make for his child to achieve benefits in the forms of returns at the time of maturity of the plan.

The various plans under this category are discussed below:

Aviva Young Scholar Advantage

A Unit Linked Child Insurance Plan, the Aviva Young Scholar Advantage offers regular funding for the child’s education along with an insurance cover in the case of death risk. In the event of the death of parents, a lump sum amount is paid to the child with the waiver of future premium payments to provide security to the child at the time of need.

Aviva Young Scholar Secure

This plan from the house of Aviva comes in 4 variants of Silver, Gold, Diamond, and Platinum. The plan ensures to cover the major milestones in the educational journey of the child depending upon the plan chosen and the premium paid. It has the provision for a Higher Education Reserve which is payable at the age of 21 years of the child. Tax benefits as per the prevailing tax laws are also applicable for the plan.

Aviva New Family Income Builder

This unique plan for children provides for premium payment for the initial 12 years with a double payback amount for the subsequent 12 years. There are 7 different annuity options to choose from under this plan.

Rural Insurance Plans

Rural Insurance plans are primarily designed for the rural sectors of the country for the growth and prosperity of the weaker sections of the society. Aviva has a number of plans under this category keeping the various needs of the rural population in mind. These plans come with a low premium and higher returns with fast and easy processing of the plans. The application process is very simple and tax benefits are also available to the policyholder and the nominee, as the case may be. The primary aim of these Insurance Plans is the prosperity and growth of the rural people.

The company has branches at strategic locations to provide these services to the people so that they can avail maximum benefits from the plans offered.

The various plans under the Rural Insurance Plans are mentioned below:-

  • Aviva CSC Bima Labh Yojana

  • Aviva Jana Suraksha

  • Aviva Nayi Grameen Suraksha

  • Aviva Sampoorna Suraksha

Protection Plans

Aviva Life Insurance offers a range of Protection Plans which help to meet financial needs in times of unforeseen circumstances and mishaps in the life of the policyholder. The various plans on offer are designed for various kinds of needs and some also have tax benefits attached to them.

Basically, the protection plans of Aviva are mostly term insurance plans, which are the cheapest form of life insurance for maximum coverage.
The undermentioned plans are the various Protection Plans Offered by Aviva Life Insurance:-

  • Aviva Extra Cover
  • Aviva Life Shield Plus
  • Aviva Life Shield Advantage
  • Aviva Life Shield Platinum
  • Aviva i-Life
  • Aviva iLife Total Protect Assure Plan

Aviva Life Insurance Group Plans

Aviva offers an array of Group Insurance Plans for the benefit of the corporates houses who aim to provide security to their employees or for the members of any organization or association. These plans are bought as group insurance and hence are a great value for the money invested as they provide safety and security to a large number of people. There are two variants of plans under this category as mentioned below:

Term Insurance Plans

Insurance Plans under this category provide financial security to the family of the deceased in the form of a lump sum amount in the event of the death of the policyholder. These plans are aimed at providing death benefits to the family of the policyholder to cover their requirements and also in cases of permanent disability. There are two plans which provide for such insurance cover:

  • Aviva Corporate Life Plus

  • Aviva Corporate Shield Plus

Gratuity Encashment Plans

These plans are market-linked plans and are designed to provide employees with the benefit of leave encashment. Aviva Insurance offers three different plans under this category as mentioned below:

  • Aviva Group Gratuity Advantage
  • Aviva New Group Leave Encashment Plan
  • Aviva New Traditional Employee Benefit Plan

Getting an Insurance Policy is a matter of great importance and should be a well planned and thought out decision. It is an investment you make to gain maximum financial benefit and to secure your future from any kind of emergencies. A comprehensive study of the market trends and the available options is always advisable before you take the plunge. Seeking financial advice for the same is also highly recommended.