Aviva Signature Investment Plan – Platinum
Aviva Signature Investment Plan – Platinum
In today's fast-paced world, we are always worried about fulfilling our current needs and planning for family’s financial stability for future. In the constant worry of our tomorrow, we don’t enjoy the moment today.
Now it’s time to seize the day and secure your future with Aviva Signature Investment Plan – Platinum. This is a ULIP plan that provides both Security (Sum Assured) and Growth (Fund Value) to support your family in your absence in case of an unfortunate event.
Now live life to the fullest, worry-free as this plan strengthens your family's financial future with its dual benefit (Sum assured & fund value), ensuring your loved ones are always cared for.
Why should you buy Aviva Signature Investment Plan – Platinum
Secure your future and grow your wealth. The Aviva Signature Investment Plan – Platinum is designed for individuals looking for long-term financial security and investment growth.
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Flexibility to Manage Your Investment: This ULIP insurance plan offers you control over your investment strategy. You have the freedom to switch your investments between multiple funds at no extra cost. Additionally, you can adjust your investment mix by redirecting future premiums among various funds.
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30-Day Review Period: You have 30 days to review your policy details. If you're not satisfied, return the policy within this period for a full refund, minus any applicable deductions.
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Retirement Protection: Aviva understands the importance of financial safety during your retirement. To protect your savings from market volatility, the RetireSafe feature automatically reallocates your funds to more conservative options during the last three years before maturity. You also have the option to opt out of this feature if desired.
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Additional Investment Opportunities: Enhance your investment by making top-up premium payments anytime, as long as all regular premiums are up to date. Choose how these extra payments are invested. (Note that top-ups are not allowed in the last five years of the policy and cannot be withdrawn for five years unless the policy is fully surrendered.)
Benefits of Aviva Signature Investment Plan – Platinum
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Maturity Benefit: Secure your long-term goals. Upon completing the policy term, you'll receive the accumulated value of your investments, including regular premiums and any additional top-up premiums made.
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Death Benefit: Should the unforeseen occur, your loved ones are secure. In case of your unfortunate passing, they will receive the base sum assured, Top-up sum assured and Fund Value (Units pertaining to Regular Premium and Top-Up Premium, if any. Death Benefit shall be at least 105% of the Total Premiums (Regular Premium and Top-Up Premium, if any) received up to date of death.
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Partial Withdrawal Flexibility: Aviva addresses your short-term liquidity needs by permitting partial withdrawals. You can access a portion of your fund after 5 policy years, prioritizing top-up funds, and then regular premiums.
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Systematic Partial Withdrawal Option: Plan for future income needs with ease. After 5 policy years, you can opt for systematic partial withdrawals from regular premium units, ensuring a steady income stream while maintaining the other unit-linked life insurance product benefits.
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Systematic Transfer Plan (STP) Benefit: The Aviva Signature Investment Plan – Platinum allows you to invest strategically. With the STP, you can gradually shift investments from equity to debt funds before maturity, reducing market volatility risks.
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Diverse Investment Options: Align your investments with your financial aspirations and risk tolerance. Choose from eight investment funds, including Balanced Fund-II, Bond Fund-II, Enhancer Fund-II, Growth Fund-II, Infrastructure Fund, Protector Fund-II, PSU Fund, and Midcap Fund, and create a diversified portfolio tailored to your needs.
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Policy Flexibility: Life is unpredictable; priorities change. Enjoy the flexibility to surrender the policy at any time, receiving proceeds after the lock-in period or upon surrender, whichever is later.
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Policy Revival Option: If you miss payments and your policy lapses, you have three years to revive it by paying all overdue premiums. This way, you can keep your benefits intact.
Terms & Conditions of Aviva Signature Investment Plan – Platinum
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Lock-in Period: The Aviva ULIP plan has a lock-in period of five years from the start date. During this period, you cannot withdraw your invested funds except in the case of the life-insured's death.
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Grace Period for Premium Payments: You have a grace period to pay your premiums after the due date without penalty:
15 days for monthly payments; 30 days for all other payment frequencies (quarterly, half-yearly, and yearly)
During the grace period, your investment plan remains active with full benefits. -
Changes in mode of premium payment: You can alter your premium payment frequency (e.g., monthly to yearly) on any policy anniversary. An alteration charge will apply.
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Nomination & Assignment: You can nominate a beneficiary and assign your policy to another person as per Section 39 and Section 38 of the Insurance Act, 1938 (subject to amendments).
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Suicide Claims: If the life insured's death is by suicide within 12 months from the policy start or revival date, the nominee receives the fund value on the date of death notification. Any charges deducted after the death (except fund management and guarantee charges) will be added back to the fund value, and the policy terminates thereafter.
Features of Aviva Signature Investment Plan – Platinum
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Ensure your loved ones are protected with complete life insurance coverage.
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Get regular income through systematic partial withdrawals after 5 years to help cover expenses, pay off debts, and more.
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Choose from 8 investment funds to match your risk tolerance and goals.
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Gain long-term market-linked returns on your investment.
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Receive the total value of your investment at the end of the policy term.
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Select a premium payment frequency that aligns with your timeline: monthly, quarterly, half-yearly, or yearly.
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Surrender your policy for cash value after the initial lock-in period.
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Revive a lapsed policy within 3 years.
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Avail tax benefits as per the Income Tax Act 1961.
Eligibility
| Premium Payment Term | ||
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Eligibility
| Entry Age (last birthday) |
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| Cover Multiple | 7 or 10 (for age 91 days to 55 years) 7 or 5 (for age 56 to 60 years) 5 (for age 61 to 65 years) |
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| Sum Assured |
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| Policy Term |
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| Annualized Premium |
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| Premium Payment Term | Same as the Policy Term | ||||||
| Maturity Age |
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| Travel Restrictions | No restrictions | ||||||
| Occupation Restrictions | No restrictions | ||||||
| Payment Frequency | Monthly, Quarterly, Half-Yearly, and Yearly | ||||||
Frequently Asked Questions - Aviva Signature Investment Plan – Platinum
The minimum age for the Aviva Signature Investment Plan – Platinum is 91 days, and the maximum age is 65 years.
The sum assured is a guaranteed payout amount the policyholder chooses when buying the insurance-cum-investment plan. It's the money the policyholder or their beneficiary receives at policy maturity or upon their death within the policy's term.
For the Aviva Signature Investment Plan – Platinum, the sum assured varies based on your age and the cover multiple you choose:
• Minimum Sum Assured -
for Age 91 days to 55 years , [₹4,20,000 (if Cover Multiple is 7) (PT>=25) and ₹6,00,000 (if Cover Multiple is 10)], for Age 91 days to 55 years (PT>=20<25)[ ₹5,04,000 (if Cover Multiple is 7) for
₹7,20,000 (if Cover Multiple is 10)], for Age 56 days to 60 years (PT>=20) [₹4,20,000 (if Cover Multiple is 7)
₹3,00,000 (if Cover Multiple is 5)] and For Age 61 days to 65 years (PT>=20) [₹3,00,000]
• Maximum Sum Assured - There's no upper limit, subject to underwriting policy.
With the Aviva Signature Investment Plan – Platinum, in the unfortunate event of your demise, your loved ones are entitled to:
I. Paid-Up Sum Assured and
II. Top-Up Sum Assured (if any) and
III. Fund Value (Units pertaining to Regular Premium and Top-Up Premium, if any)
Death Benefit shall be at least 105% of the Total Premiums (Regular Premium and Top-Up Premium, if any)
received up to date of death.
After paying the death benefit, the contract shall terminate.
Upon reaching the maturity date, the Aviva Signature Investment Plan – Platinum pays out the total value of your investment. This includes the value of units linked to your regular contributions and any additional value from top-up premiums (if applicable). This benefit helps ensure you have financial security when the policy matures.
Yes, there is a 5-year lock-in period for the Aviva Signature Investment Plan – Platinum.
If you stop paying premiums during the lock-in period of your policy, the insurer will credit the fund value in the discontinued policy fund after deducting some charges. You'll have three years to revive the policy by paying the overdue premiums.
• If you choose not to revive it, your funds will stay in the discontinued policy fund until the end of the lock-in period, after which they'll be paid to you.
• You can also surrender the policy, and you'll get the funds at the end of the lock-in period or upon surrender, whichever is later.
• Suppose you decide to revive the policy during the lock-in period. In that case, you'll need to pay the overdue premiums without any extra charges, and the insurer will reinstate the risk cover and investments from the discontinued policy fund, deducting applicable charges.
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AN Jul 08/24, UIN:122L151V01
