Aviva Next Innings Pension Plan


Wouldn’t it be great if you could lead a comfortable lifestyle even after retirement? Realizing this need, Aviva presents a plan that can guarantee a regular income stream for your post retirement years. Aviva Next Innings Pension Plan- a pension plan that helps in building a lump sum through a regular or onetime investment. This lump sum allows you to get an uninterrupted income throughout your retirement years. 

Aviva Next Innings Pension Plan is a unique combination of a built in guarantee to build a lump sum amount to secure regular income for your retirement years. So go ahead and plan for a great next innings!

Key features of the plan are:

• Guaranteed corpus for retirement which will be 210% of the premiums you have paid, if you continue this policy till maturity date by paying all due premiums.

• Protection for your family in case of death to ensure that your family receives a corpus basis the amount of premiums you have paid along with an interest.

• Limited Premium Payment term to ensure that you enjoy your income without worries when you are nearing retirement


Entry Age(last birthday)

42 to 60 years

Maturity (Vesting) Age (last birthday)

55 to 78 years 

Policy Term (PT) and Premium Payment Term (PPT) in Years

Policy Term

Premium Payment Term







Maximum/ Minimum Premium

Minimum Premium

Premium Payment Term (in years)

Minimum Premium Amount (Rs.)




50,000 p.a.

Maximum Single/ Limited Premium: Rs.5,00,00,000

Premium Payment Frequency

Single, Annual, Half-yearly and Monthly

Premium for Half-yearly and monthly frequency is calculated as below:

Half-yearly = Annual Premium x 51.08%
Monthly = Annual Premium x 8.71%

For monthly mode, only ECS/ Direct Debit is allowed


What Benefits will I Receive?

Maturity Benefit:

In case you survive till maturity (vesting date), the maturity benefit will be 210% of the premiums paid, excluding extra premiums and taxes, if any. The policy proceeds will compulsory be used in one of the following ways:

• By purchasing Immediate Annuity: This will be guaranteed for life for the insured as long as he/she survives. There is an option with policyholder to commute a proportion of the maturity proceeds up to the maximum allowed as per prevailing tax laws (current limit is 1/3rd of the maturity proceeds). After commutation, the remaining amount of maturity proceeds shall be used to buy annuity on the life of insured. The immediate annuity can be purchased only from Aviva Life Insurance Company India Limited or as per the then IRDA Regulations. Please refer to sales brochure of Aviva Annuity Plus(UIN:122N018V04) for details.

• By purchasing a single premium deferred pension product available at that time provided the policyholder satisfies the eligibility criteria for that single premium deferred pension plan. This product can be purchased only from Aviva Life Insurance Company India Limited or as per the then IRDA Regulations.

Death Benefit:

In case of death of the life insured during the policy term, the death benefit paid to the nominee shall be the higher of:

• Premiums paid, excluding extra premiums and taxes, if any, till the date of death, along with interest of 6% per annum compounded annually

• 105% of all premiums paid, excluding extra premiums and taxes, till the date of death