Aviva Fortune Plus Plan offers the following guarantees:

• sum assured guaranteed on the event of the death of the policyholder
• return of at least 100% of the charges guaranteed upon maturity of the policy, if all due premiums are paid.

This savings plan is available for individuals aged 2 to 60 years.

Being one of the best investment plans in the market, the available premium payment options are:

• One time for Single Premium for a policy term of 10 to 20 years
• Premium Payment Term of 5, 7, or 10 years for a policy term of 15 to 20 years
• Premium Payment Term equal to the entire policy term of 15 to 20 years

During the lock-in period: The revival of the policy shall be subject to the continued insurability of the Life Insured on the basis that the information, documents, and reports furnished by the Policyholder and the same are found satisfactory by the Company. The Company reserves the right to decline the revival of the policy as per the Board-approved underwriting policy. The revival of the policy will restore the risk cover, along with the investments made in the segregated funds as chosen by the policyholder, out of the discontinued policy fund less applicable charges in accordance with the terms and conditions of the policy. The insurer, at the time of revival:

• will collect all due and unpaid limited/regular premiums without charging any interest or fee.
• will levy policy administration charge and premium allocation charge as applicable during the discontinuance period. Guarantee charges, if applicable during the discontinuance period, shall be deducted as long as the guarantee continues to be applicable. No other charges shall be levied.
• will add back to the funds, the discontinuance charge deducted at the time of discontinuance of the policy.

Once a discontinued policy is revived, then all applicable charges shall be levied from time to time.

After the lock-in period: The policyholder can revive the policy after the lock-in period within the revival period of three years. Where the policyholder revives the policy, the policy shall be revived, restoring the original risk cover in accordance with the terms and conditions of the policy.
The Company, at the time of revival:

• will collect all due and unpaid limited/regular premiums without charging any interest or fee. The rider/optional benefits, if any, may also be revived at the option of the policyholders subject to the Company’s board-approved underwriting policy.
• will levy premium allocation charge as applicable. The guarantee charges, if any, shall be deducted, if guarantee continues to be applicable.
• no other charges shall be levied

After the end of grace period: Revival period considered will be 3 years from the date of the first unpaid premium. Revival of the discontinued policy shall be in accordance with section 8.3 of the F&U, subject to board-approved underwriting policy of the company. The revival of the policy shall not take effect until the company has specifically approved the policyholder’s request for revival and the same has been communicated to the policyholder in writing. The company reserves the right to impose extra mortality charges if any or to decline the revival of the policy in accordance with board-approved underwriting policy.

You can buy the Aviva Fortune Plus Plan via our policy agents or by visiting our nearest offices. The easiest way to buy this insurance plan with returns is via our official website where our experts can guide you.

• Before expiry of the grace period: For other than Single Premium policies, if you (the policyholder) do not pay up the limited/regular premium in full, the fund value will be credited in the discontinued policy fund after deduction of the applicable discontinuance charge and the risk cover. The rider/optional benefits, if any, shall cease. The discontinued policy will come with a revival period of three years from the date of the first unpaid premium. The status of the policy discontinuance will be communicated to you within three months of the first unpaid limited/regular premium.
• In the event you opt to revive the policy but do not do so within three years, the proceeds of the discontinued policy fund shall be paid to the policyholder at the end of the revival period or lock-in period, whichever is later.
• If the three-year revival period ends after the lock-in period, the policy will remain in the discontinued policy fund till the end of the revival period, during which a discontinued policy fund management charge will be applicable.
• In the event you do not opt for revival, the policy will continue without any risk cover, and the rider/optional benefits, if any, along with the funds, will remain invested in the discontinued policy fund. The proceeds of the discontinued policy fund shall be paid to the policyholder and the policy will terminate at the end of the lock-in period.
• Upon expiry of the grace period: For other than single premium policies, in case of discontinuance of the policy due to non-payment of premium after the lock-in period, the policy shall be converted into a reduced paid-up policy with the paid-up sum assured i.e. Original Sum Assured X (Total Number of Limited/Regular Premiums Received/ Original Number of Limited/Regular Premiums Payable under the Policy) as per the terms and conditions of the policy. The policy shall continue to be in reduced paid-up status without rider/optional benefits if any. All charges as per terms and conditions of the policy shall be deducted during the revival period. However, the mortality charge shall be deducted based on the reduced paid-up sum assured only. On such discontinuance, Company will communicate the status of the policy, within three months of the first unpaid limited/regular premium to you and provide the following options:
  • To revive the policy within the revival period of three years; or
  • Complete Withdrawal i.e. Surrender of the policy

In case you opt to revive the policy but do not do so during the revival period, the fund value shall be paid to you at the end of the revival period. If you do not exercise any option as set out above, the policy shall continue to be in reduced paid-up status. At the end of the revival period, the proceeds of the policy fund will be paid to you and the policy shall terminate. However, you have an option to surrender the policy anytime and the proceeds of the policy fund shall be payable. In case of single premium policies, you have an option to surrender the policy any time. Upon receipt of request for surrender, the fund value as on the date of surrender shall be payable.