Aviva Grameen Suraksha
FAQ
- My policy term is 10 years but I have failed to pay my 2nd premium, will I still get any death benefits?
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Your policy will not terminate at once; you will get full cover for a period of 48 months from the due date of the unpaid premium.
- I have not paid the premium after first policy year, will my policy acquire any surrender value?
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Yes your policy will acquire Special Surrender Value (SSV) on the completion of first policy year (provided SSV comes out to be more than Rs. 50).
The Special Surrender Value (SSV) shall be equal to:
40% of { (1- (X/Risk cover period)) x Total Premium Paid }
Where
- 'X' means the time elapsed since date of commencement, in months (part of the month to be counted as full); and
- 'Risk Cover Period' shall be derived with reference to the following table:
|
Premium (Rs.) for age group |
Policy term |
If one premium has been paid |
If both the premiums have paid |
5 |
30 |
60 |
10 |
60 |
120 |
- What is the minimum sum assured offered by the policy?
-
Policy offers a minimum sum assured of Rs. 5,000.
- Disclaimer
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The above material is provided for general information only and does not constitute legal or other professional advice. This information is current at the date of publication but may be subject to change without notice and accordingly, may not be up to date at the time of viewing. Information specific to a product may be obtained from the Company.