Aviva Extra Cover - A combo plan

This advertisement is designed for combination of benefits of two individual and separate products named Aviva i-Life and Aviva Health Secure. The customer has the choice of purchasing any one or more products as per his/her need and choice. There is no compulsion whatsoever that these products are to be taken together as suggested by the insurer and presented in this advertisement. The customer is expected to ask questions, understand and satisfy himself that the combination meets his/her specific needs better before deciding to purchase the combination. This benefit illustration is the arithmetic combination and chronological listing of combined benefits of individual products. The customer is advised to refer the detailed sales brochure of respective individual products mentioned herein.

Overview

Life today is full of uncertainties. To ensure our family is secure, in case something unfortunate happens to us, we need adequate life cover. But this is not enough. There are unforeseen risks that we often choose to ignore. The increasing health challenges posed by our high pressure sedentary lifestyle can turn into critical illnesses. Hence, it is important to leave nothing uncovered.

Aviva Extra cover is a unique combination of Aviva i-Life and Aviva Health Secure that gives you comprehensive protection with a life cover at nominal cost, and pays you a lump sum on diagnosis of 12 critical illnesses.

What are the benefits?

Death Benefit:

In case of your unfortunate death during the policy term, the Sum Assured will be paid to the beneficiary in your family to take care of their future needs.

Critical Illness Benefit:

The Sum Assured will be paid in case of diagnosis of any of the 12 major critical illnesses covered under the product.

The premium for Critical Illness cover will not change for the first five years. However, the premium will be reviewable every five policy years at the policy anniversary, after approval from the IRDA of India. Such review of premium rates will be performed by the Company at the beginning of the calendar year and premium rates after review would only be applicable for the contracts for which the review falls due in that year.

Only conditions described as critical illness in the Aviva Health Secure brochure are covered under this policy. Sum Assured is payable, provided the life insured survives for 30 days after the diagnosis of critical illness. A policyholder can claim at the first diagnosis of any critical illness, provided the critical illness has been diagnosed after 90 days of the policy commencement date or the date of reinstatement.

Maturity Benefit:

No maturity benefit is payable under this product combination.

Key Features

  • 100% Sum assured as lump sum on death – Covers all forms of death only exclusion is suicide within one year
  • Cover for 12 major critical illness
  • A hassle-free online application process, without any tedious paperwork
  • A 30-day Free-Look period to review detailed terms and conditions
  • High Sum Assured Discounts
  • Low premium rates for non-smokers for life cover

Specifications

Eligibility

Minimum Entry Age (last birthday)

18 years

Maximum Entry Age (last birthday)

55 years

Maximum Maturity Age (last birthday)

70 years for term insurance

65 years for critical illness cover

Minimum Sum Assured

Rs. 25 Lac for term insurance

Rs. 5 Lac for critical illness cover

Maximum Sum Assured

No limit, subject to underwriting for term insurance

Rs. 50 Lac for critical illness cover (includes cover taken for other critical illness policies with Aviva)

Policy Term

10-35 years for term insurance

10-30 years for critical illness cover

Premium Payment Term

Equal to policy term

Premium Payment Mode

Yearly and Half Yearly

 

How the plan works?

Mr. Sharma, aged 30 years, opts for Sum Assured of Rs. 1 Crore for term insurance cover under Aviva i-Life and Sum Assured of Rs. 10 Lac as critical illness cover under Aviva Health Secure for 30 years of policy term.

His total premium for the above combo solution of Aviva i-Life and Aviva Health Secure would be Rs. 11,346 (Inclusive of taxes).

  • Aviva i-Life – Rs, 8,437
  • Aviva Health Secure – Rs. 2,909

Scenario 1: Mr. Sharma is diagnosed with end stage cancer during the 11th policy year

In this case, Mr. Sharma will get lump sum amount of Rs. 10 Lac as Sum Assured of Critical Illness cover and the health insurance policy will expire.

The term insurance will continue and Mr. Sharma will have to pay premium of Rs. 8,437 inclusive of taxes for the remaining term.

Scenario 2: Mr. Sharma dies during the 11th policy year

In this case, the family of Mr. Sharma will get lump sum amount of Rs. 1 Cr as Sum Assured of Term Insurance cover and both health and term insurance policies will expire.

Easy Steps to Apply

Step 1- Choose the amount of life protection and policy term you need 
Step 2- Choose the amount of critical illness cover and policy term you need
Step 3- Calculate and review your premium amount payable
Step 4- Fill in the application form and make online payment using Net Banking, Credit or Debit card
Step 5- Upload relevant documents and schedule an appointment for medical examination if applicable
 
Aviva i-life UIN: 122N093V02
Aviva Health Secure UIN: 122N095V02
 
Advt No: sep 50/16