Aviva LifeShield Advantage
Overview
Aviva LifeShield Advantage provides comprehensive protection for your family incase you are not around. Additionally, all the money paid as premium will be returned to you on survival at the end of the Policy Term through:
- Payment of Life Cover (Sum Assured) to your family in the event of your death (Option A)
- Additional protection against Accidental Permanent Total Disability (Option B)
- Return of the money paid towards the base premium on your survival at the end of the policy term
- Additional protection against Permanent Total Disability (PTD) and 18 Critical Illness covered by the Aviva Dread Disease (DD) Rider (available with Option A regular premium mode)
- A rebate on your premium for higher levels of Sum Assured
- Specifications:
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Entry age: 18-55 years (Maximum age at the expiry of the policy is 65 years)
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Policy term: 10 years to 30 years
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Minimum Sum Assured: Rs 2 lacs
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Premium Payment Frequency: Single Premium (for Option A); Yearly, Half-Yearly, Quarterly and Monthly (for both Options)
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Riders: Aviva Dread Disease (DD) Rider (with Option A, Regular Premium)
- Easy steps to your plan:
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Step 1
Choose the nature of protection required |
Option A: Sum Assured on death during the Policy Term, provided that all the due premiums are paid till death
Option B: Sum Assured plus Return of Premiums on death or on Permanent Total Disability (PTD) due to an accident, whichever is earlier during the Policy Term, provided that all the due premiums are paid till death
Maturity Benefit for all options is Return of Premiums paid excluding extra premiums, taxes, and rider premiums (if any) |
Step 2
Choose the level of protection you want |
Minimum Sum Assured: Rs 2 lacs
Maximum Sum Assured:
Option A - No limit
Option B - Rs 50 lacs |
Step 3
Select rider for comprehensive protection |
Aviva Dread Disease (DD) Rider: [UIN 122B014V01]
Minimum Rider Sum Assured:Rs. 2 lacs
Maximum Rider Sum Assured:Base Sum Assured subject to a maximum of Rs. 50 lacs (including all policies with this rider).
Rider available with Option A (Regular Premium) only
Rider premium should not exceed 30% of the base premium, otherwise rider Sum Assured will be reduced accordingly. If the rider Sum Assured works out to be less than Rs.2 lacs then this rider will not be available |
Step 4
Arrive at the policy term by choosing the period for which you want protection |
10-30 years subject to: - Entry Age: 18-55 years
- Maturity Age: 28-65 years
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Step 5
Select the Premium frequency |
Single Premium (for Option A only) - Regular (equal to policy term) for Option A/B via Yearly, Half-Yearly, Quarterly & Monthly modes (only ECS/ Direct Debit allowed for Quarterly & Monthly modes)
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Step 6
Work out the premium payable along wiht our Financial Planning Adviser |
- Enjoy rebate for high Sum Assured
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- What are the benefits I will receive?
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Death / PTD Benefit:
Option A: Life protection
- Death Benefit: In the unfortunate event of your death during the Policy Term, provided that all the due premiums are paid till death, the Sum Assured is paid to your nominee and the policy terminates
Option B: Life-cum-disability protection along with Return of Premium
- Death/PTD Benefit - In the unfortunate event of your death or suffering from Permanent Total Disability (PTD) due to an accident, whichever is earlier during the Policy Term, provided that all the due premiums are paid till death, the Sum Assured along with the sum of all premiums paid till date of notification of death (excluding extra premiums, taxes and rider premiums, if any), will be paid and the policy terminates.
Rider Benefit: if Aviva Dread Disease (DD) Rider is opted along with Option A (regular premium):
- An additional amount equal to the Aviva DD Rider Sum Assured is payable on contracting any of the 18 Critical illnesses covered or on Permanent Total Disability due to an accident or illness. This rider payout does not impact benefits payable under the base plan
MaturityBenefit:
- Maturity Benefit under this plan (both options) is Return of Premiums paid excluding rider premium, taxes and extra premium, if any, paid. There is no interest paid on the sum of premiums.
Tax Benefit:
- The Policy offers tax benefits as per the prevailing laws of the Income Tax Act, 1961. Tax laws are subject to change
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