Aviva LifeBond Advantage

Overview

Aviva LifeBond Advantage is a Single Premium unit linked insurance plan that offers you an opportunity to invest a lump sum for medium to long term together with Life Cover and flexibility to access your money after 5 years, besides the regular tax benefits through:

• 7 unit linked funds as well as two options for life cover

• Extra financial protection through the inbuilt Accidental Death Benefit

• Opportunity for additional investment with a nominal life cover (top-up)

Specifications

• Entry age: 02-65 years

• Policy term: 10-73 years (minimum age at maturity 18 years; maximum age at maturity 75 years)

• Premium Paying Term: Single Premium

• Base Premium:

   

  Minimum Premium: Rs. 50,000

   

   

  Maximum Premium: No Limit

• Top-up Premium: Minimum - Rs. 5,000; Maximum - Up to single Premium paid

• Inbuilt Accidental Death Benefit

Easy steps to your plan

What benefits will I receive?

Death Benefit:

• In the unfortunate event of your death, Life Cover or the value of units pertaining to single premium, whichever is higher, is payable along with accumulate Loyalty additions (if any )

• Life Cover or the Fund Value pertaining to top-up premium, whichever is higher, shall also be payable  

 Loyalty Additions:

• You are eligible for Loyalty additions if you stay invested for more than 10 years. The addition will be 4% of Fund Value pertaining to Single Premium at the end of 10th policy year and 2% on every subsequent 10th policy year till the end of the Policy Term

Maturity Benefit:

• On maturity, you can either take out the fund value and terminate the policy or opt for Settlement option

• Settlement option – This allows you to keep the money invested in the fund even after maturity and enables you to receive the same systematically over a period of 1 to 5 years. You can opt for this option at maturity

Other Benefits:

• Partial Withdrawals without having to surrender your policy allowed upto 4 times in a policy year

• Policy allows you to make a lump sum investment through top up premium facility. The Minimum top up allowed is Rs. 5,000; Maximum: Up to total premiums paid. Each top-up will carry a Life Cover (Sum Assured) of 1.25 times the top-up premium

Tax Benefit:

• The Policy offers tax benefits as per the prevailing laws of the Income Tax Act, 1961. Tax laws are subject to change

* Refer to the policy brochure for disclaimers

What are the charges on my policy?

The policy will attract charges under various heads. The details of the same are given below:

Complete withdrawal is allowed after 5 policy years without any penalty

For further details, please refer to the policy brochure