Investment Plans 223 views April 1, 2021

Aviva Wealth Builder Plan gives back double your premium amount at maturity. So, if you are looking for an insurance plan that provides you life cover and savings to achieve milestones like marriage, child’s education, home purchase and comfortable retirement, think of buying an Aviva Wealth Builder Plan. This life insurance policy from Aviva Life comes with the following benefits –

  1. Maturity benefits of 2X the paid premiums
  2. Death Payout Payable on the demise of the Life Assured during the policy term
  3. Maximum Sum Assured of INR 20 Crore per life

Know in detail the features and benefits of the Aviva Wealth Builder Plan in this post.

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Aviva Wealth Builder Plan Maturity Benefit

If you survive till the maturity of the Plan, you will get a maturity benefit equivalent to 2X the total paid premiums, provided the policy is in force and all due premiums are paid in full.

Guaranteed Death Payout Under Aviva Wealth Builder Plan

In case you die during the policy term of the Plan, your nominee will receive the sum assured, provided the policy is in force and all due premiums are paid till the date of death.

Minimum & Maximum Sum Assured of Aviva Wealth Builder Plan

You will get the following sum assured under this Aviva life insurance plan, as per your chosen premium payment term –

Premium Payment TermMinimum Sum Assured (In INR)Maximum Sum Assured (In INR)
Single Premium3 Lakh2 Crore
5-Year Premium Payment5 Lakh10 Crore
10-Year Premium Payment10 Lakh20 Crore

Aviva Wealth Builder Plan Premium Amount Range

The premium amount for this Plan is based on the premium payment frequency you choose. The table below shows the premium payable across different payment frequencies. Let’s check it.

Premium Payment FrequencyMinimum Premium Amount (In INR)Maximum Premium Amount (In INR)
Regular50,0001 Crore
Single1.5 Lakh1 Crore

Eligibility Criteria

You can buy this policy from Aviva Life Insurance if you meet the following age criteria –

  1. The minimum entry age – 5 years (as on the date of last birthday)
  2. The maximum entry age – 50 years (as on the date of last birthday)

Surrender Value

You can surrender this Plan anytime during the policy term if you have chosen the Single Premium. Whereas, in the case of regular premium, you can surrender the policy if at least 2 years’ premiums are paid in full. This Plan Surrender Value will be higher of –

  1. Guaranteed Surrender Value
  2. Special Surrender Value

Guaranteed Surrender Value (GSV) = GSV Factor x total paid premiums (till the date of surrender, excluding taxes and extra premiums, if any)

Special Surrender Value (SSV) = SSV Factor x Paid-up Sum Assured

Note – SSV is determined or reviewed by the insurance company from time to time. Whereas, the GSV factor is based on your policy term and the year of policy surrender.

Free Look Period

You can review Aviva Wealth Builder Plan’s terms and conditions during a 15-day free look period, which will start from the date of receipt of the policy document. So if you find any terms and conditions disagreeable, you can cancel your Plan and seek a refund of the paid premiums less medical expenses and stamp duty charges, if any.

Note – If you purchase this Aviva life insurance plan from distance marketing mode, the free look period will be 30 days.

Tax Benefits

In this Plan, you will get tax benefits on your premium payment and benefit payouts as per the prevailing income tax laws.

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