Aviva Corporate Life Plus

Overview

Aviva Corporate Life Plus is a group term insurance plan that provides life cover for the employees/members of an organization and financially protects their families through

  • Life cover for employees.

  • Additional cover for accidental death and permanent disability.

  • Provide protection with minimum medical formalities.

Specifications

  • Master Policyholder: Institution/organisation

  • Coverage: At least 50 employees (However, schemes for less than 50 members may be considered on the basis of individual evidence of health)

  • Entry age: 18 to 69 years (last birthday)

  • Minimum Sum Assured: Rs. 1,00,00,000 (per scheme)

  • Maximum Sum Assured: No limit

  • Policy Term: 1 year; renewable every year

  • Premium payment term: Equal to the policy term

  • Premium Payment Frequency: Annually, half yearly, quarterly or monthly

  • Annual Premium: Dependant on – the size of group, their age, their occupations and the sum insured for individual members

  • Riders Available: Group Permanent Total Disability (PTD) Rider: UIN: 122C009V01, Group Double Accident Benefit (DAB) Rider: UIN: 122C006V02; Group Critical Illness Rider: UIN: 122B018V02

What are the employees (members) going to get?

Death Benefit: 
In case of death of the insured employee, the sum assured will be paid to the master policyholder, who in turn, will settle the account with the beneficiary of the insured member. If the master policyholder opts for DAB rider, an additional amount equal to the Sum Assured shall be paid in case of accidental death of the insured member.
In case PTD rider has been opted for and the insured member suffers from Total Permanent  Disability then the rider sum assured will be paid and membership will cease thereafter.

What is the organisation going to get?

Tax Benefits:
Tax benefits are as per the provisions of the Income Tax Act, 1961. Tax laws are subject to change.

 

Download Brochure  Terms and Conditions  Policy Schedule