Term Insurance 7363 views June 20, 2019

Aviva Life Insurance Company has a host of term insurance plans with which you can secure your loved ones financially in your absence. These plans include – Aviva Jana Suraksha and Aviva Lifeshield Advantage. Let’s talk about these two plans and how they can help your family when you are not around.

Term Insurance

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Different Types of Aviva Term Insurance Plans

Let’s read the two term insurance plans you could get at Aviva to protect your dear ones in case you die during the policy term.

Aviva Jana Suraksha

A low-cost term insurance plan from Aviva Life Insurance that gives your children and other dependents the comprehensive financial cover in your absence. A guaranteed lump sum amount is payable in case you die during the policy term. While the minimum Sum Assured amounts to INR 25,000, the maximum can go upto INR 50,000, subject to board approved underwriting policy.

Anyone within 18-45 years can buy this policy for a term of 5 or 10 years. The policy term is also subject to the maximum age allowed at maturity, which can be 50 or 55 years. You can either pay a single premium or pay throughout the policy term. The company allows premium payments at any of these intervals – Monthly, Quarterly, Half-yearly or Annually. So choose the interval at which you are comfortable paying the premium.

Aviva LifeShield Advantage

This is a comprehensive protection plan for your family if you are not with them. The plan comes with features like Return of Premiums at maturity, which means if you survive till the end of the policy term, you will get back the premium paid to the insurer. It comes with an optional cover for additional protection against Accidental Permanent Total Disability. You should be a minimum and maximum of 18 and 15 years, respectively, when buying this policy. Besides, the tax benefits will be available on both premium payment and maturity payouts under Section 80C and 10 (10D) of the Income Tax Act, 1961.

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