Aviva Sampoorna Suraksha Bima Yojna
Overview
Aviva Sampoorna Suraksha Bima Yojna is for employer-employee groups and the customers of banks and financial institutions with an aim to provide:
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Life cover for employees/bank customer
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Additional benefits in case of Accidental Death/ Total and Permanent Disability
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Guaranteed Survival Benefit on Maturity
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Provide protection with minimum medical formalities
- Specifications
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- What are the employees (members) going to get?
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Death Benefit:
In case of death of the insured member within the membership term, the Sum Assured shall be payable and the membership shall terminate thereafter.
Accidental Death Benefit:
In case of accidental death of the insured member, an additional amount equal to the Sum Assured shall be payable alongwith the Death Benefit (DB) and the membership shall terminate thereafter.
Accidental Total and Permanent Disability Benefit:
In case insured member suffers from Total and Permanent Disability due to an accident, 100% of the Sum Assured shall be payable and the Accidental Total and Permanent Disability benefit will terminate thereafter. However, the policy shall continue for the basic Death Benefit (DB).
Maturity Benefit:
Maturity benefit = Maturity Scale Factor * annualised premium
Surrender Benefit:
The greater of Guaranteed Surrender Value and Special Surrender Value is payable as the surrender value.
- What will the organization get?
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Tax Benefits
- Tax benefits are as per the provisions of the Income Tax Act, 1961. Tax laws are subject to change.
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