Group Short Term Debt Fund

funds

ULGF00613/02/2009GROUPSDEBT122

Nav value

25.57

Date

Wed, 05/29/2024 - 00:00

difference

0.00

diffpercentage

0.02

Read more about Group Short Term Debt Fund

Growth Fund II

funds

ULIF01808/01/2010LIGROWT-II122

Nav value

40.02

Date

Wed, 05/29/2024 - 00:00

difference

-0.24

diffpercentage

-0.59

Read more about Growth Fund II

Balanced Fund II

funds

ULIF01508/01/2010LIBALAN-II122

Nav value

33.39

Date

Wed, 05/29/2024 - 00:00

difference

-0.11

diffpercentage

-0.33

Read more about Balanced Fund II

Aviva Annuity Plus Plan

According to a recent survey, 59 is considered the ideal retirement age. However, only 32% recognize the importance of starting retirement planning as early as 30.1 This gap highlights a lack of awareness among us about the long-term benefits of early retirement planning. Especially, in a world where healthcare costs are rising, and many of us find ourselves in the 'sandwich generation'—taking care of both aging parents and young children.

The consequence? We risk retiring with insufficient savings. Therefore, prioritizing retirement should be just as important as our children's education and other financial aspects.

Presenting the Aviva Annuity Plus—a non-participating, non-linked single premium immediate annuity designed to address these concerns. It offers a guaranteed income stream throughout your retirement, providing peace of mind and a reliable source of income for your living expenses and passions.

Why should you buy Aviva Annuity Plus Plan

The Aviva Annuity Plus plan is perfect for those who seek a stable income after retirement, ensuring financial security and peace of mind.

Get financial freedom to enjoy your golden years.
Increase your guaranteed income by adding a lump sum at purchase, securing a prosperous retirement.
Choose from a wide range of annuity plan options to meet specific financial goals.
Secure your spouse's financial standing in case if an eventuality.

Get your premium back if you don't like the policy terms within 30 days.
Easily switch premium payment modes - monthly, quarterly, half-yearly, and yearly - at any policy anniversary for financial adaptability.
Avail tax benefits under Section 80C and 10(10 D) of the IT Act, 1961.

Benefits of Aviva Annuity Plus Plan

Here are the following benefits of buying the Annuity Plus plan from Aviva:

Guaranteed Income for Life: You can enjoy a steady income stream throughout your retirement with high guaranteed annuity rates. This plan helps ensure you have a reliable source of income to cover your living expenses and enjoy financial security well after you stop working.
Secured Retirement Income: Investments like stocks and bonds can fluctuate significantly, leaving you unsure of your future income. Annuities offer a unique solution, providing guaranteed income and peace of mind. With an annuity, you can lock in a predictable income stream, regardless of market conditions, ensuring financial security throughout your golden years.
Boost Your Purchase Price: If purchasing an annuity from your pension plan's Vesting/Maturity Value, you can increase the purchase price by adding a lump sum from your savings. This increases your future annuity payout.

Secure Your Spouse's Future: With the Aviva Annuity Plus Plan, you have the option to choose a joint-life last-survivor annuity to ensure your spouse continues to receive income from the annuity even after you pass away. This helps ensure your spouse maintains financial independence throughout their retirement.
No Investment Limits: Unlike some government schemes with investment caps, such as the Senior Citizens Savings Scheme (SCSS) and Post Office Monthly Income Scheme (PO-MIS), the Aviva Annuity Plus plan allows for larger investments, providing greater flexibility.
Flexible Options to Suit You: Choose from seven annuity options to fit your individual needs and circumstances.

Terms & Conditions of Aviva Annuity Plus Plan

No Policy Loans:Aviva Annuity Plus plan does not provide the option for policy loans.
Nomination: You can designate a beneficiary (nominee) to receive the benefits in case of your death, as per Section 39 of the Insurance Act 1938, subject to amendments.
Tax Implications: Tax and surcharge will be applicable following the prevailing tax laws.

Freelook Period: You have the right to review the terms and conditions of the policy within the freelook period, which extends for 15 days from the date of receiving the Policy Document (or 30 days in the case of policies solicited through distance marketing). If you disagree with any terms or conditions, you can return the policy by stating the reasons for your objection.
Alterations: Policyholders can change their premium payment frequency on any policy anniversary by providing a written notice at least 45 days in advance.

Features of Aviva Annuity Plus Plan

Enjoy a guaranteed income stream post-retirement.
A safe investment, unaffected by market fluctuations, unlike stocks and bonds.
The advantage of higher annuity payouts for large premium.

Easy online application and claim process
Benefit from expert investment management - your financial well-being is in safe hands.

Aviva Annuity Plus Plan options

Eligibility

Premium Payment Term

Eligibility

Entry age (last birthday)	Category of Annuitant	Minimum	Maximum
	Aviva pension Policyholders (last birthday)	18 Years	80 Years
	Nominees of deceased Aviva pension Policyholders (last birthday)	0 years (18 years for joint life last survivor annuity)	80 Years
	Others (last birthday)	50 Years	80 Years
	In the case of joint life last survivor annuity, the age of both lives must fall within the minimum and maximum entry age.
Purchase Price	Minimum: Rs. 25,000 Maximum: no limit
Annuity Installment*	Minimum Rs. 500 for any frequency of annuity (chosen).
Annuity frequency	Monthly, quarterly, half-yearly, and yearly (the mode can be changed on any policy anniversary; notice must be given in writing at least 45 days in advance)

Frequently Asked Questions - Aviva Annuity Plus Plan

An annuity plan is a reliable insurance agreement between you (the annuitant) and an insurance company. It ensures a consistent, guaranteed pension throughout your lifetime after retirement. Think of it as a safety net for you and your family, ensuring financial security for your golden years.
You can contribute to your annuity retirement plan in two ways:
• Regular payments: Spread the cost over time with convenient installments.
• Lump sum payment: Invest a larger amount upfront to maximize your returns.
The insurance company manages your contributions by investing them in various assets. In return, you receive a guaranteed income stream for your entire life, offering peace of mind and long-term financial stability.

The choice between an annuity and a fixed deposit (FD) depends on your financial goals and risk comfort level. An annuity could be a good fit if you prefer a guaranteed income flow with protection from market ups and downs. On the other hand, if you're more interested in potentially higher returns and easy access to your money, a fixed deposit may be more fitting.

The annuity rate is the percentage at which an insurance company or financial institution pays you regular sums in exchange for your initial investment (lump sum or installments). This rate is influenced by many factors:
• Your age and life expectancy: The longer you're expected to live, the lower the rate might be.
• Current interest rates: When rates are high, annuity rates may also be higher.
• The type of annuity and its specific terms: Different plans offer various features and impact the rate you receive.
Remember, the annuity rate directly affects your income payout, so consider these factors carefully when selecting the best annuity plan.

An annuity plan is not a one-size-fits-all solution, and deciding if it is a wise investment relies on your unique financial goals, situation, and risk appetite. While an annuity investment plan offers a guaranteed income stream during retirement, ideal for those seeking financial stability, it's crucial to thoroughly evaluate all features and associated costs before committing.

Calculating annuity payments depends on multiple factors, such as:
• Initial investment (the starting amount of money put into the annuity)
• Payment period (the duration for which annuity payments are made)
• Interest rate (the rate of return used to calculate the payments)
The formula for calculating these payments varies based on the annuity type (fixed or variable) and its terms.

In India, annuities are subject to specific limits and regulations. The Insurance Regulatory and Development Authority of India (IRDAI) establishes guidelines on annuity products offered by insurance companies. These regulations can include:
• Age limitations for purchase (both minimum and maximum)
• Premium amount caps
• Boundaries for annuity payouts (both minimum and maximum)

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AN May 28/24 UIN: 122N018V04

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In this policy the investment risk in the investment portfolio is borne by the Policyholder. The linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender/withdraw the monies invested in linked Insurance Products completely or partially till the end of the fifth year.

Aviva Affluence Plan

You’ve probably heard of the saying, “Don’t put all your eggs in one basket.” While this proverb can be applied to different facets of life, investment experts will often use it when explaining diversification. The concept of spreading your investments across different asset classes to manage risk and maximize growth potential.

Aviva Affluence is a unit-linked non-participating life insurance that allows you to increase your wealth through market-linked investment. It invests a part of your premium to provide life insurance coverage, while the remaining portion is invested in various funds as per your choice With 8 investment options, Aviva caters to your unique risk tolerance and financial goals.

Whether it's securing your child's education, building an emergency safety net, or planning a comfortable retirement - the choice is yours. Aviva Affluence offers peace of mind, knowing you're prepared for the future.

It's not just a plan, it's a promise – a promise of a secure and fulfilling future built on your terms.

Why should you buy Aviva Affluence Plan

Aviva Affluence is a non-participating unit-linked life insurance plan that ensures long-term financial security for milestones like children's education, marriage, and retirement.

Secure your loved ones financially in case of an unexpected event.
Earn increasing Milestone Boosters for on-time premiums, growing your policy value.
Increase your coverage with additional lump-sum investments
Customize your plan from eight fund options to match your risk tolerance and financial goals

Make 12 free switches between funds annually to optimize your investment strategy
Choose your premium payment term - 7, 10, 15 years, or for the entire policy - to suit your budget
Benefit from tax deductions on premiums paid and investment returns (subject to Sections 80C and 10(10D) of the IT Act)

Benefits of Aviva Affluence Plan

The Aviva Affluence Plan goes beyond just insurance. It's a comprehensive financial tool designed to help you achieve your short and long-term goals. Here's how it benefits you:

Financial Security for Your Loved Ones: In case of an unfortunate event, your beneficiary receives a guaranteed payout, whichever is highest: the Sum Assured amount, the accumulated fund value, or 105% of the premiums paid. Additional benefits may include Top-Up Sum Assured and Accidental Death Benefit (if applicable).
Maturity Benefit: Upon policy maturity, you'll receive the accumulated fund value from your regular and Top-Up premiums, along with Maturity Booster bonuses (a percentage of the fund value).
Increasing Milestone Boosters (IMB): Stay on track with your premiums and earn loyalty rewards. The Aviva Affluence Plan rewards your commitment by offering increasing bonuses for on-time premium payments. These bonuses are added to your fund value, boosting your overall returns.
Flexible Withdrawal Options: Manage your regular expenses with the Systematic Partial Withdrawal (SPW). You have the option to withdraw 3% to 12% of your fund value annually, choosing your preferred withdrawal frequency for better financial control.
Partial Withdrawals: Need access to funds for emergencies? You can withdraw a portion of your fund value up to four times a year after the initial five policy years.

Premium Redirection: Change how your future premiums are invested across different funds. Adjust your investment strategy based on market conditions at no additional cost.
Switching Funds: Seamlessly manage your investment portfolio with 12 free switches between available funds annually
Systematic Transfer Plan (STP): Invest systematically and reduce risk with automatic transfers between Debt and Equity Funds. This rupee-cost-averaging strategy helps you benefit from market fluctuations throughout the policy term (excluding the last two years).
Boost Your Wealth Further: Invest lump sums to significantly increase your fund value. These top-up premiums come with a five-year lock-in period and offer a higher sum assured benefit. You can make these top-up investments anytime during the policy term, subject to specific conditions.

Terms & Conditions of Aviva Affluence Plan

Lock-in Period: Your premiums are initially locked in for five years. During this period, you cannot withdraw funds except in case of the insured's death.
Minors as Life Insured: If the insured person is a minor when the policy starts:
- The policyholder, who can be a parent, grandparent, or guardian, can pay premiums for a minor.
- If the policyholder dies, the surviving parent/guardian can continue payments. If the insured person is still a minor and premiums are not paid in the future for a minor, discontinuation rules will apply.
- Policy automatically vests in the minor at age 18, with coverage starting from the policy start date.
Free Look Period: You have 15 days (30 days for policies through distance marketing) to review and return the policy if there are objections. Refunds include the fund value, unallocated premium, deducted charges, and incurred expenses.
Grace Period: You have a 30-day grace period after the due date to pay premiums without penalty, maintaining uninterrupted coverage.
Discontinuing the Policy: Discontinuing the policy means ending it because of surrendering or not paying the premium. When this happens, the money from the discontinued policies goes into a special fund called the Discontinued Policy Fund, which includes the initial fund value plus any interest earned.
During the Lock-in Period: If premiums aren't paid within the grace period of the lock-in period, the policy goes into the Discontinued Policy Fund. You can choose to revive the policy within three years. If not revived, the fund's money is paid out at the end of the revival or lock-in period.

After Lock-in Period: If premium non-payment happens after the lock-in period, the policy becomes a reduced paid-up policy. The policyholder can opt to revive the policy within a certain period or withdraw completely. If not revived, the fund's money is paid out at the end of the revival period. Non-payment after the lock-in period converts the policy to a reduced benefit plan. You can revive it within a specific timeframe or withdraw completely. Reviving requires proof of insurability and paying missed premiums.
Premium Allocation and Adjustment: The first premium is allocated based on the Net Asset Value (NAV) on the policy start date. Premiums are adjusted on the due date, and Aviva does not accept amounts less than the specified regular premium. NAV is calculated daily based on IRDAI guidelines, considering the market value of investments, current assets, and liabilities. According to the most recent IRDAI standards, the Fund's NAV will be calculated as follows: Market Value of Investment held by the Fund + Value of Current Assets – Value of Current Liabilities & Provisions, if any Number of Units existing on Valuation Date (before unit creation or redemption)
No Loan Provision: This policy does not provide for loans from Aviva.
Policy Revival: Subject to board-approved underwriting and payment of all unpaid premiums.
Assignment and Nomination: You can assign or nominate a beneficiary according to the Insurance Act 1938 (Sections 38 and 39).
Claims and Premiums: Aviva is only liable to pay claims once we approve your risk and receive full premium payment.

Features of Aviva Affluence Plan

Receive an additional benefit in case of accidental death
Get all your premiums back + earned bonuses upon policy maturity
Flexibility to adjust future premium allocations at no extra cost
Withdraw funds up to four times yearly after five years

Cancel the policy and receive a refund if the terms are unsatisfactory within 30 days
Option to pay premiums within 30 days of the due date without penalty
Switch between investment options automatically to minimize risk, at zero cost

Aviva Affluence Plan options

Eligibility

Premium Payment Term

Eligibility

Entry Age (last birthday)

Minimum: 2 years | Maximum: 50 years

Maturity Age (last birthday)

Premium Payment Term (PPT)	Minimum Maturity Age	Maximum Maturity Age
7/10/15 years	18 Years	65 years
16 to 30 years	18 Years	70 years

Policy Term and Premium Payment Term

Policy Term (in Years)	Limited Premium Payment Term (in Years)	Regular Premium Payment Term (in Years)
15-17 years	10 years	Equal to Policy Term
18-30 years	7, 10 & 15 years	Equal to Policy Term

Annualized Premium

Regular Premium: Minimum
Policy Term	Premium Payment Term	Annualized Premium (in Rs.)
15-17 years	10, Equal to the Policy term	2,00,000
	7 years	1,50,000
18 & above	10/15, Equal to Policy term	1,00,000
Maximum: No limit, based on underwriting policy approved by the board Top Up Premium: Minimum: Rs. 5,000 Maximum: No limit, based on underwriting policy approved by the board The Sum of Top Up Premiums should not be more than the sum of Regular Premiums paid

Sum Assured

The Sum Assured is a multiple of the Annual Premium and relies upon Policy Term and age: Minimum Sum Assured:
Policy Term (in years)	Premium Payment Term	Minimum Sum Assured (in Rs.) Annualized Premium
15-17 years	10, Equal to the Policy term	20,00,000
18 & above	7 years	15,00,000
18 & above	10/15, Equal to Policy term	10,00,000
Minimum Top-up Sum Assured = 6250 Where the Minimum Sum Assured is 10 times the Annualized Premium and the Top-up Premium Sum Assured is 1.25 times the Top-up Premium Maximum Sum Assured: Maximum Sum assured would be subject to the underwriting policy approved by the board.
Entry Age of life insured	PPT ( Years)	Maximum Sum Assured Multiple
< 45	7 & 10	Max (10, 0.5*Policy Term)
< 45	15 to 30	Policy Term
>= 45	7 & 10	10
>= 45	15 to 30	Policy Term minus 5

In-built Accidental Death

The in-built Accidental Death Sum Assured shall be equal to the Base Sum Assured, subject to a maximum of Rs. 50 lakhs (per life), including all existing Accidental Death Benefit cover issued by Aviva.
Maximum Sum assured would be subject to the underwriting policy approved by the board.

Premium Payment Frequency

Yearly Only

Frequently Asked Questions - Aviva Affluence Plan

The Aviva Affluence Plan is an individual unit-linked, non-participating life insurance policy offered by Aviva Life Insurance Company India Ltd. It blends life coverage and investment by dividing the premium into life insurance and market-linked funds, balancing growth opportunities with market risks. With eight fund choices, policyholders can tailor their returns according to their risk tolerance. This plan ensures long-term financial stability by growing wealth through diverse fund options, all while safeguarding and investing for future milestones like education, marriage, and retirement.

A participating life insurance policy, also called a par policy, allows policyholders to share in the insurer's profits through bonuses or dividends, offering additional benefits alongside guaranteed maturity benefits. These are not guaranteed and depend on the company's performance.
Benefits:

You receive the sum assured (death benefit) upon death and potentially additional payouts through dividends.
Some plans allow you to use the dividends to pay premiums, increase coverage, or receive cash.

Drawbacks:

You pay more than non-participating policies due to the profit-sharing element.
Dividends are subject to change and are not guaranteed based on the company's performance.

On the other hand, a non-participating policy, also called a non-par policy, does not provide such dividends; it only offers guaranteed benefits upon maturity without sharing in the insurer's profits.
Benefits:

You pay a predetermined amount throughout the policy term.
The insurance company guarantees the death benefit and maturity benefit.

Drawbacks:

You only receive the contracted sum assured upon death or maturity, with no additional benefits.
Limited options compared to participating policies.

You can't change the life insurance coverage in your existing policy, but you can apply for a new policy to increase it. Contact customer care at 1800 180 2244 (Toll-free for BSNL/MTNL users) or 0124-2709046, or simply SMS "Aviva" to 5676737, or email us at customerservices@avivaindia.com to get in touch with our experts and learn more about specific policies.

You can go to the insurer's website, log in using your online account details, or use your Policy number to check the status of your Aviva Affluence policy.