Aviva iGrowth- Unit Linked Insurance Plan
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 i-Growth ULIP Plan - Best Investment Options
We all have multiple goals and ambitions in life for ourselves and our loved ones. You not only have to provide for their daily needs, but also safeguard their future in case of your sudden absence from their lives. Managing all these tasks single-handedly can get overwhelming and after a point become really stressful. However, with proper savings plan and financial planning, all these responsibilities can be tackled with ease.
As a smart planner you would always want to assure financial security for the future and at the same time make your money grow in the present. We at AVIVA understand and appreciate the unwavering dedication you have towards your family and hence have introduced the AVIVA iGrowth plan. AVIVA iGrowth is an individual unit linked, non-participating life insurance plan that is savings oriented. This plan does the job of making your money work harder and at the same time offer comprehensive protection to you and your family.
Unit linked insurance plans, or ULIPs as they are popularly called in short, help you get the benefit of investing in the capital markets while enjoying life insurance protection.
As a smart planner you would always want to assure financial security for the future and at the same time make your money grow in the present. We at AVIVA understand and appreciate the unwavering dedication you have towards your family and hence have introduced the best unit-linked insurance plan - AVIVA i-Growth plan. AVIVA i-Growth is an individual non-participating unit-linked insurance plan that is savings-oriented.
While you can read about the AVIVA i-Growth plan, its features, and benefits in detail, we are laying out the brief here to help you know better about the product and how it can help you achieve your financial and life goals.
When you invest in AVIVA i-Growth, a unit-linked insurance plan, a part of your premium is towards the life insurance while the other part is invested in the market linked funds of your choice. Thus, by investing your money in one plan you can build a future corpus to achieve your financial goals as well as secure your loved ones' financial future even when you are not around.
AVIVA i-Growth gives you the flexibility to choose the funds you want to invest in as well as the sum assured depending on your needs, financial goals as well as your risk, and investment appetite. You can read about the plan's features and benefits in detail in the below sections.
You can buy AVIVA i-Growth ULIP plan online with the help of a few simple steps and rest assured knowing that you have made the right commitment to your life goals.
Save and invest with the AVIVA iGrowth ULIP Plan
As ULIP savings schemes, the AVIVA i-Growth plan offers you dual benefits of life cover and wealth creation. It is one of the best investment options for securing your loved ones in your absence by building your savings for their secure financial future.
Confused about how these ULIP savings plans work? When you invest into a ULIP plan part of your premium goes to the insurance and the rest is invested in the money market linked funds chosen by you to build your future corpus.
Depending on the financial goals you want to achieve you can choose the funds from equity oriented, debt oriented, or balanced funds. During the policy tenure if you feel like switching the funds for better returns on your investment you can do so by using the special feature of ULIP called Unit Switch.
By investing in ULIP savings plans you receive three benefits in one - insurance, financial corpus, and tax savings.
You do not need to provide any medical test reports for purchasing this ULIP plan. All you need to do is submit a self-declaration of good health while purchasing the policy.
Wealth creation must go hand-in-hand with your risk appetite. The AVIVA i-Growth plan offers you the option to choose from the three unit-linked funds investment options- Bond Fund-II, Balanced Fund-II, and Enhancer Fund-II.
- The Bond Fund-II has a high percentage of debt allocation and is perfect for investors with less risk tolerance.
- The Balanced Fund-II strikes a balance between steady returns and capital growth, making it suitable for a medium risk profile.
- The Enhancer Fund-II is for the aggressive investor with high equity asset allocation. The high equity exposure can help achieve long-term capital growth.
The option to choose funds based on your risk appetite makes it one of the best investment options available to you.
The returns of this savings insurance plan depend on how the funds you have chosen fare. If you are not satisfied with the fund performance, you can use Premium Re-direction or the Unit Switch feature of the ULIP policy.
Premium Re-direction allows you to divert your future premiums to a different fund of your choice in the current ULIP plan.
With Unit Switch, you can switch your accumulated funds partly or completely between the three fund options in the ULIP.
You will receive the fund value of the ULIP, along with loyalty additions, on surviving the policy tenure.
Being regular with your premiums towards the unit linked insurance plan makes you eligible for loyalty benefits. You can avail of loyalty additions as a percentage of your fund value in that year.
|Policy tenure||Loyalty addition as % of the fund value in the final three years|
You can avail of these benefits of ULIP plan in the final 3 years of the unit linked insurance plan policy term.
The ULIP addresses your liquidity needs by allowing partial withdrawals. You can make 4 partial withdrawals from the accumulated amount in your fund after the first 5 policy years.
Purchasing a ULIP makes you eligible for tax benefits as per the Income Tax Act 1961. Consult your financial advisor or a company representative to know more about this.
The above features can make this savings scheme one of the best investment options for your needs.
Benefits of AVIVA i-Growth ULIP Plan
As a ULIP policy AVIVA i-Growth offers certain benefits to the investors which makes your long-term investment more secure and beneficial for you. Before you make a final decision on your investment let's walk you through the benefits of the AVIVA i-Growth ULIP plan.
- Flexible investment
ULIPs offer some of the best investment options where you can choose to invest based on your risk appetite and financial goals.
Moreover, these flexible benefits of ULIPs are extended towards the amount of premium as well as the sum assured both of which you can choose as per your needs and investment appetite.
One of the major ULIP plan benefits is the liquidity that it offers. In case of any unforeseen events, ULIP policy allows you partial withdrawal post lock-in period of 5 years.
- Risk management
When you invest in a ULIP policy you get the benefits of market-linked growth without directly investing in stock markets. Thus, you can build future financial corpus at your pace without taking unnecessary risks.
- ULIP tax benefits
Under section 80 C of the Income Tax Act, you get tax benefits from the ULIP policy. The premiums you pay towards the ULIP policy are exempted from your taxable income providing you tax benefits along with life insurance and savings.
We know and appreciate how much transparency is important when you invest your hard-earned money into the best investment options.
Before you finalize the procedure we lay out the value of your investment, expected rate of return, and the charge structure before you when you buy the AVIVA i-Growth ULIP policy. Thus, you know your plan better and are rest assured about your investment and expected returns.
- Disciplined savings
As they say, consistency can take you a long way, whether it's your career growth, learning a new skill, or inculcating a habit of saving. ULIP plan benefits you by inducing a habit of regular saving while helping you build a future corpus and securing the life of your loved ones.