Aviva Dhan Nirman

Overview

We all want our investments to grow to help achieve life’s key milestones. However, higher returns mostly come with higher risk. At Aviva we recognise the joy of being in a win-win situation when it comes to your investments. Presenting Aviva Dhan Nirman, a unique life insurance plan that gives you a guaranteed regular stream of income and also a bonus at the end of your policy term. So watch your money grow- safely!

Unique Attractions:

1. Guaranteed annual payouts to meet regular income needs equal to 150% of annual premium (excluding service tax and extra premium, if any) starting immediately after the end of premium payment term.

2. Growth to your savings through simple reversionary bonus every year starting at the end of first year

3. Guaranteed lump sum payout at maturity along with the vested simple reversionary bonuses and terminal bonus, if any, to meet your long term needs.

4. Comprehensive financial protection for your family depending on your choice of Sum Assured

5. Premium rebate on choosing a Sum Assured of Rs. 5 Lac and above.

Specifications

 Entry Age

Minimum: 4 years last birthday 
Maximum: 50 years last birthday

 Maturity Age

75 years

 Premium Payment Term (PPT) and Policy Term (PT)

 


PT (in years)


PPT (in years)


18 

 
14

21

15

25

16

30 

18

Sum Assured

 Minimum: Rs. 200,000; Maximum: Rs. 1 crore (per life)

Annual Premium

Rs. 14,486 (exclusive of service tax and extra premium, if any)

Maximum Premium

Rs. 9,98,000 (exclusive of service tax and extra premium, if any) 

Premium Payment Frequency and Modal Factors

Annual, Half Yearly, Quarterly & Monthly
Premium for different frequency is calculated as below:
Half Yearly=Annual Premium X 51.08%
Quarterly = Annual Premium X 25.91% 
Monthly=Annual Premium X 8.71%
For monthly mode, only ECS/Direct Debit is allowed

Sum Assured Rebate

Large Sum Assured rebate for Sum Assured greater or equal to 500,000 as per the following table will be applicable on Tabular Premium Rate:

PT (in years)

Rebate per 1000 Sum Assured (Rs.)


18 

 
4.5

21

5.0

25

6.0

30 

7.5

Taxes including but not limited to Service tax, Cess as applicable shall also be levied as notified by the Government from time to time. Tax laws are subject to change

Benefits That I Will Receive

Death Benefit

In case of death of the life insured during the policy term, provided all due regular premiums have been paid, the death sum assured payable, would be highest of following amounts:
  • 10 times of annualized premium paid (excluding any amount paid as Extra Premium and/or Taxes, if any), or

  • 105% of the Premiums paid (excluding any amount paid as Extra Premium and/or Taxes, if any), or

  • Maturity sum assured, or

  • Sum Assured of the Policy

In addition to the above, the vested Simple Reversionary Bonuses and Terminal Bonus as percentage of the sum assured, if any, shall also be paid to the nominee. The policy shall terminate after payment of the death benefits.
 

Survival Benefit

In case the Life Insured is surviving after the premium payment term and provided all due regular premiums have been paid, a survival benefit amounting to “150% of the Annual Premium” shall be paid on each of the policy anniversaries as mentioned in below table on the basis of chosen policy term:

Policy Term (in years)

Survival Benefit Eligibility

Amount Payable 

18

14th to 17th Policy Anniversary



150% of the Annual Premium*
 
 

21

15th to 20th Policy Anniversary

25    

16th to 24th Policy Anniversary

30

18th to 29th Policy Anniversary

*Annual Premium depends on your chosen policy term and will exclude any amount paid as Extra Premium and/or Taxes, if any.

Maturity Benefit

In case the Life Insured survives till the maturity date and provided all due premiums have been paid, maturity sum assured as specified in the table below shall be payable on the basis of chosen policy term along with vested Simple Reversionary Bonuses and Terminal Bonus (if any). The Policy shall terminate after payment of the maturity sum assured. 

Policy Term (in years)

Maturity Sum Assured

18

8 x Annual Premium

21

7 x Annual Premium

25

6 x Annual Premium

30

5 x Annual Premium

The Annual Premium depends on your chosen policy term and will exclude any amount paid as Extra Premium and/or Taxes, if any.

Tax Benefits

Tax Benefits will be as per Section 80C and 10 (10D) of Income Tax Act 1961. Tax benefits as per the prevailing tax laws and are subject to change from time to time.

Please refer product brochure for details