Overview

Aviva Dhan Samruddhi is a traditional life insurance plan that gives guaranteed cash back every 5 years in addition to guaranteed maturity benefit, to meet your short and long term needs.

•Guaranteed returns: Your policy earns a Guaranteed Addition of 7% per annum to 9% per annum of the Annualized Premium, depending upon the policy term chosen by you,till the end of the policy term which is payable at maturity.

•Liquidity: Your policy pays back 125% of the Annualized Premium as Survival Benefit every 5 years (except at maturity)

•Guaranteed Maturity Benefit: At maturity, you get the Sum Assured plus accrued Guaranteed Additions minus Survival Benefits already paid. 

•Rebate for high Sum Assured: Rebate on basic premium is allowed if your Sum Assured is Rs. 5 Lacs or higher. 

Specifications

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 That I Will Receive

Overview

We all want our investments to grow to help achieve life’s key milestones. However, higher returns mostly come with higher risk. At Aviva we recognise the joy of being in a win-win situation when it comes to your investments. Presenting Aviva Dhan Nirman, a unique life insurance plan that gives you a guaranteed regular stream of income and also a bonus at the end of your policy term. So watch your money grow- safely!

Unique Attractions:

1. Guaranteed annual payouts to meet regular income needs equal to 150% of annual premium (excluding Goods & Services Tax and extra premium, if any) starting immediately after the end of premium payment term.

2. Growth to your savings through simple reversionary bonus every year starting at the end of first year

3. Guaranteed lump sum payout at maturity along with the vested simple reversionary bonuses and terminal bonus, if any, to meet your long term needs.

4. Comprehensive financial protection for your family depending on your choice of Sum Assured

5. Premium rebate on choosing a Sum Assured of Rs. 5 Lac and above.

Specifications

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 That I Will Receive

Overview

At Aviva we recognize your efforts and hard work to provide your loved ones with a comfortable life today and tomorrow. Presenting Aviva New Family Income Builder, a saving cum protection oriented plan that assists you financially by guaranteeing returns in the form of regular payouts for 12 years. These regular payouts are passed onto your family in case of your untimely death. This ensures that you continue to provide them with the same lifestyle even when you are not around.

Specifications

“Annualized Premium” shall be the premium amount payable in a year chosen by the policyholder, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any.    

Benefits That I Will Receive

Maturity Benefit:

In case the life insured survives till the end of the Policy Term and provided all due premiums have been paid; the Maturity Sum Assured will be paid in the following manner:

• 12 annual instalments of "1.5 times the annualized premium" shall be paid at the end of each year during the Payout Period.
• A lumpsum amount of "6 times the annualized premium" shall be paid at the end of the Payout Period

An additional Guaranteed Terminal Benefit, depending upon age at entry, is paid at the end of the Premium Payment Term.

In case of unfortunate death of the Life Insured while receiving the regular income, the outstanding regular payouts shall be paid to the nominee/beneficiary.

Death Benefit:

In case of death of the life insured during the policy term provided all due premiums till date of death have been paid, the Death Sum Assured payable shall be highest of the following amounts:

1. 10 times of the annualized premium, or
2. 105% of the Total premiums paid as on date of death, or
3. Maturity Sum Assured, or
4. Sum Assured of the Policy; the Sum Assured will be paid in the following manner:

• 12 regular annual installments of "1.5 times the annualized premium" shall be paid. The first installment would be paid at the time of claim settlement and the remaining 11 annual installments shall be paid on each of the death anniversary of the life insured commencing from first death anniversary date.
• A lump sum amount of "6 times the annualized premium" shall be paid along with the 12^th annual installment on 11th death anniversary of the life insured.

An additional Guaranteed Terminal Benefit, depending upon your age at entry, shall be paid along with the benefit payable at the time of settlement of death claim.

Total Premiums paid means total of all the premiums received, excluding any extra premium, any rider premium and taxes.

“Annualized Premium” shall be the premium amount payable in a year chosen by the policyholder, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any. 

Overview

Aviva Young Scholar Advantage is a non-participating unit-linked regular premium payment plan that has been specially designed keeping in mind your specific needs as a parent. This plan enables you to create wealth that your child will require for important milestones in his life and also ensures that the same is made available to him even if you are not around.

The specially designed benefit structure of this product offers you complete protection against death. This benefit come to you with a simple and competitive charging structure which ensures that you get the best – in – class investment returns.

• No liability to pay future premium, in case of death of parent
• Guaranteed loyalty additions to enhance your fund value
• Option to choose Policy Term to let you decide your key milestone
• Choice of 7 (seven) funds for investors with different risk appetites
• Flexibility to make Partial Withdrawals to meet unplanned expenses
• Systematic Transfer Plan and Automatic Asset Allocation mechanism to protect your investments against market volatility

Eligibility

Investment Options

Investment Funds:

This plan provides you the flexibility to simultaneously invest in one or more of the seven unit linked funds. You can invest 100% of your premiums in any of the funds or choose a combination of funds. The minimum allocation in each selected fund should be 10% if more than one fund option is selected.

Investment Pattern of Discontinued Policy Fund:

The Investment Pattern for Discontinued Policy Fund will be as follows.

The interest rate applicable to the Discontinued Policy Fund shall be declared subject to minimum guaranteed interest rate prescribed by IRDA from time to time. The current minimum guaranteed rate of interest applicable to the Discontinued Policy Fund shall be 4% per annum. The excess income earned 

What benefits will I receive ?

Death Benefit:

In case of unfortunate death of life insured during the term of the policy and subject to the condition that all due premiums have been paid:

After the death of the Policyholder i.e. insured, no rights of the policy will be transferred to either the Appointee or to the Nominee (Beneficiary) and the policy will continue till the date of maturity and policy will be terminated by paying the fund value as on maturity date.

In case of unfortunate death of Nominee (Beneficiary) before the life insured:

• ­Higher of (Base Sum Assured,105% of the premiums paid excluding taxes) will be paid immediately along with the Top-up Sum Assured, if any.
• ­All the future premiums, if any, will be waived and paid (as a lump sum) into your fund basis the last paid premium amount. The lumpsum will be invested in various funds in the same allocation proportion as was prevailing before the date of notification of your death. Unit Price applicable on the date of notification of death shall be used for the creation of such units.
• ­Other child, if any, should be the new Nominee (Beneficiary)
• ­In absence of other child, new Nominee (Beneficiary) can be one with whom insurable interest exists
• ­The policy will continue for the benefit of new Nominee (Beneficiary) appointed by the Policyholder.

In the event of death of Nominee (Beneficiary) after the death of life insured, the policy will terminate and the Fund Value as on date of termination shall be payable to the surviving legal heir.

Loyalty Additions:

Loyalty addition is the addition to the fund value at various durations of time during the policy term.

In case you continue this policy and keep paying all the due premiums, then we shall provide fund value related loyalty additions. The amount of loyalty additions will be % of fund value pertaining to regular premium as given below:

Maturity Benefit:

On maturity, the value of units pertaining to regular premium and top-up premium, if any, as on the maturity date is payable

What are the charges I am paying?

Plan Charges

1. Premium Allocation Charge:

Regular Premium:

This charge is deducted from the premium and the balance premium after deducting this charge is invested which will depend on the policy year as detailed below:

Top-up premium: The premium allocation charge shall be  2% of top-up premium.

2. Fund Management Charge (FMC):

An FMC of 1.35% p.a. will be applied for all funds except Discontinued Policy Fund. In case of Discontinued Policy Fund, the FMC would be 0.50% p.a. or as per the guidelines issued by IRDA from time to time. The NAV for each fund will be calculated on a daily basis.

3. Policy Administration Charge (PAC):

Policy Administration Charge will be made by monthly redemption of units from the policy unit account.

The maximum amount of Policy Administration Charges is limited to Rs. 400 per month.

4. Mortality Charge:

It is levied on the Sum at Risk (SAR) by monthly cancellation of units from the unit account. Sum at Risk is defined as Sum Assured plus Top-up Sum Assured ,if any plus sum of future premiums payable till the date of maturity. Sample annual charges per thousand SAR for a healthy male are given below:

In addition to above mortality charge, Re.0.60 per 1000 Sum Assured will be charged for in-built Accidental Death Benefit, if applicable.

5. Discontinuance Charge:

There will be no discontinuance charge on fund value pertaining to Top-up premium, if any.

6. Switching Charge:

There are no charges on the first 12 switches in a policy year; subsequent switches are charged at 0.5% of amount switched, subject to a maximum of Rs 500 per switch.

7. Miscellaneous charge:

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.