Aviva i-Term Smart

Plan Overview

There is no greater satisfaction than securing the life goals of your loved ones’. Goals start looking easy when dreams are supported by a well nurtured plan.

At Aviva Life Insurance, we understand that and offer you a plan to secure the dream in case life was to throw unpleasant surprises. Presenting Aviva i-Term Smart, a ‘protection oriented’ life insurance plan that offers you life cover at an affordable cost with an opportunity of additional protection against critical illness and disability.

  • Option for additional protection against critical illness and permanent total disability with Aviva Critical Illness & Disability Rider- Non Linked Rider
  • Option to increase the amount of cover without medical underwriting when responsibilities increase

Specification

Entry Age

Min: 18 years (age last birthday)

Max: 65 years (age last birthday)

Maximum Maturity Age

80 years last birthday (without Aviva Critical Illness and Disability Rider-Non linked Rider)

70 years last birthday (with Aviva Critical Illness & Disability Rider -Non linked Rider)

Premium

Min: Rs. 3,861 (excluding discounts, taxes & extra premium, if any)

Max: Depends on the Age, Term & Sum Assured chosen

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

If Entry Age is (last birthday)

Min Policy Term

Max Policy Term

With Rider

Without Rider

With Rider

Without Rider

Up to 60 years

10 years

10 years

70 minus Entry Age

80 minus Entry Age

61 years

9 years

62 years

8 years

63 years

7 years

64 years

6 years

65 years

5 years

Sum Assured

Minimum: Rs. 75 Lakh

Maximum: Rs. 25 Cr (per life) subject to Company’s Board Approved Underwriting Guidelines. Maximum sum assured will be as per the Board Approved Underwriting Policy

Premium frequency

Monthly, Half yearly & Yearly

Change of premium payment frequency is allowed at any policy anniversary

Easy steps to your plan:

Step 1
Choose the level of protection (Base Sum Assured) you want

Minimum Sum Assured : Rs. 75 Lakh

Maximum Sum Assured: Rs. 25 Cr (per life) subject to Company’s Board Approved Underwriting Guidelines. Maximum sum assured will be as per the Board Approved Underwriting Policy

Step 2
Select the Premium frequency
Monthly, Half yearly & Yearly
Step 3
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 Goods & Services Tax, Cesses as applicable shall also be levied as notified by the Government from time to time. Tax laws are subject to change.

Benefits:

What are the benefits I will receive?
 Death Benefit:

In case of unfortunate death of the life insured, provided all due premiums till date of death have been paid, the nominee(s) will receive the chosen base Sum Assured.

Additional Rider & Optional Benefits:

a) Aviva Critical Illness & Disability Rider-Non Linked Rider:

Option to enhance protection by adding Aviva Critical Illness & Disability rider-Non Linked Rider to the base plan, which covers 16 critical illnesses & Permanent Total disability due to illness or accident

Option to Increase Sum Assured:

Your financial liabilities increase with increasing responsibilities and hence the need for higher level of protection. This plan allows a one time increase of the policy Sum Assured on specified events:

  • Allowed within 6 months of Marriage, Child Birth/Legal Adoption/Availing a Housing Loan or on 5th policy anniversary from policy inception date by giving a written notice at least 30 days before the policy anniversary
  • Maximum increase of Rs. 25 Lacs in Sum Assured is allowed. The increase in Sum Assured is allowed without any medical examination 

Maturity Benefit:

  • No maturity benfit is payable under the product.

Surrender Benefit:

No surrender benefit is payable under the policy

Tax Benefit:

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