Aviva LifeShield Platinum


At Aviva we are constantly innovating because we believe that each one of us is different and so is our expectation from our life insurance plan. Presenting Aviva Life Shield PlatinumTM, a unique protection plan to help you plan for your family in case you are not around. 

Option A – Life Protection
Choose this option if you foresee a need for lump sum payment of large sum of money to your family in case you are not around.We offer differential rates for Smokers, Non-smokers and preferred rates for (Healthy) Non-smokers.
The special rates for non-smokers is subject to Cotinine test, which is available in select cities.

Option B – Income Replacement
Choose this option if you want to provide a regular monthly income to your family in your absence. This amount increases by 5% p.a. compounded annually from the very first year of your policy to beat inflation. Your premium obligation is limited to about 2/3rd of the policy term.

Option C – Loan Protection. 
Choose this option to cover for higher financial liabilities and family responsibilities in the early years of your life, the Life Cover decreases evenly across the policy term. Your premium obligation is limited to about 2/3rd of the policy term.
This Insurance plan offers rebate on your premium for higher levels of Sum Assured.


  • Entry age : 18-60 years, 
  • Policy Term : 10 to 52 years, subject to the maximum maturity age of 70 years
    Premium Payment Term 
  • Option A – equal to Policy Term
    Option B & Option C – 2/3rd of policy term, rounded down to nearest integer
    e.g. for a 16 years term, paying term will be 10 years
  • Premium Payment Frequency: Annualy, Half-yearly, Quarterly or Monthly
  • Sum Assured: Minimum Rs 50,00,000, maximum no limit subject to underwriting

Easy steps to your plan:

Step 1
Choose the nature of protection required
  • Option-A – Life Protection
  • Option-B – Income Replacement
  • Option-C – Loan Protection
Step 2
Choose the level of protection (Base Sum Assured) you want
  • Minimum Sum Assured : Rs. 50 lacs
  • Maximum Sum Assured: No limit
Step 3
Select the Premium frequency
  • Yearly, Half-Yearly, Quarterly & Monthly frequencies
Step 4
Work out the premium payable along with our Financial Planning Advisor
  • Tabular Premium for the opted Base Sum Assured
  • Rebate for Large Sum Assured
  • Apply Modal Factors based on the premium payment frequency
  • Ensure that Premium should at least be equal to minimum premium
  • 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


What are the benefits I will receive?

Death Benefit:

  • Option A: Life Protection.

          The Sum Assured is paid out to the nominee as a lump-sum in case of your unfortunate death. 

  • Option B: Income Replacement.

          The nominee will receive monthly benefit amount chosen at inception till the end of the policy term, this amount increases by 5% p.a. compounded annually from the very first year of the policy to beat             inflation

  • Option C: Loan Protection.

          Under this option, the Sum Assured (SA) reduces uniformly over the Policy Term and the applicable Sum Assured as on the year of unfortunate death is paid to the nominee.

click here to understand the nature of benefits under the options using example.

Maturity Benefit:

This is a pure insurance product and hence there is no maturity benefit payable under this plan

Surrender Benefit:

Option A: There is no surrender value
Option B & C: The policy will acquire surrender value after the premium payment term, if all due premiums have been paid

Tax Benefit:

Tax benefits will be applicable as per prevailing tax laws. Tax laws are subject to change.