Aviva Corporate Shield Plus
Overview
Aviva Corporate Shield Plus is a term plan in lieu of employee/members deposit linked insurance designed primarily for corporates through:
- Compensation for the financial loss to family members / dependants arising due to the death of an employee of the organization.
- Providing protection with minimum formalities.
- Specifications
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Master Policy holder: Institution/organisation
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Minimum Entry Age: 18 years
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Maximum Entry Age: No limit
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Minimum Sum Assured: Rs. 1,31,000/-
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Maximum Sum Assured: Rs. 2,50,000/-
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Policy Term: 1 year; renewable every year (OYRGTA)
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Premium payment term: Equal to the policy term
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Premium Payment Frequency: Annually, half yearly, quarterly or monthly
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Annual Premium: Depends on the group size, the age distribution of your members, their occupations etc.
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Minimum premium per scheme: Rs. 5,000/-
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Riders Available: Group Permanent Total Disability (PTD) Rider (UIN: 122C009V01), Group Double Accident Benefit (DAB) Rider (UIN: 122C006V01)
- What are the employees (members) going to get?
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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 get?
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- Tax Benefits:
Tax benefits are as per the provisions of the Income Tax Act, 1961. Tax laws are subject to change.
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