Aviva New Family Income Builder Saving Plan
Aviva New Family Income Builder
Aviva New Family Income Builder
Plan for a comfortable today and tomorrow
A saving cum protection oriented traditional life insurance plan that assists you financially by guaranteeing* returns in the form of regular payouts for 12 years.
- Get double of the annualized premiums^ paid
- Immediate guaranteed* payout incase of death
- Tax Benefits# of all premiums paid and payout
Disclaimers:
^“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.
*Guaranteed benefits are available only if all due premiums are paid. #Tax Benefits are as per prevailing tax laws which are subject to change. AN: Feb 11/22, UIN: 122N103V04
Aviva New Family Income Builder
At every step in life, we are successfully achieving important milestones. Right from education to successfully landing a job to getting married. With that, our responsibilities are always at an all-time high. As we grow, so does our family. And that’s why we make sure your wealth grows with us.
There was a time when corporate pension plans and long-term savings were enough to provide for yourself and your loved ones when you entered the second phase of life. But today, with the increasing inflation and unforeseen events that life keeps throwing at us, you need a guaranteed income plan like Aviva New Family Income Builder. By selecting Aviva New Family Income Builder as your long-term investment plan, you are ensured to have enough future corpus not only to lead a relaxed life but also to have enough left over to indulge yourself.
Why should you buy Aviva New Family Income Builder
Aviva New Family Income Builder is that one plan which offers you both, wealth creation and financial security, with added convenience.
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Starting from the 13th year, you will receive a sum of 1.5 times the annualised premium for the next 12 years to fund your dreams and aid in any emergencies.
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As per your age of entry, you are eligible to receive a Guaranteed Terminal Benefit at the end of the premium payment term of 12 years.
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At the end of the 24th year, you receive an additional lump sum amount, six times of the annualised premium, along with the final annual pay-out.
Benefits of Aviva New Family Income Builder
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Death Benefit: This plan is designed to show how much you care for your family. In the case of uncertainities, if something untoward were to happen to you during the premium-paying term, and On submission of claim your family (nominee/beneficiary) will be entitled to receive
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 dateA lump sum amount of "6 times the annualized premium" shall be paid along with the 12th annual installment on 11th death anniversary of the life insured -
Guaranteed terminal benefit: Aviva New Family Income Builder also provides guaranteed terminal benefits The Guaranteed Terminal Benefit depends on your entry age
12% of one Annualised premium for the entry age of 6-15 years10% of one Annualised premium for the entry age of 16-25 years8% of one Annualised premium for the entry age of 26-35 years6% of one Annualised premium for the entry age of 36-40 years4% of one Annualised premium for the entry age of 41-45 years2% of one Annualised premium for the entry age of 46-50 years -
Financial Protection: This plan offers you life insurance coverage of 24 times the annualized premium. You and your family will be financially protected from any uncertainties life were to throw in your direction.
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Maturity Benefit: Aviva New Family Income Builder integrates maturity benefits for investors as well. If the policyholder survives the policy tenure and pays all due premiums, he or she is entitled to receive the sum assured in the following manner, provided all premiums have been paid:
12 annual instalments of "1.5 times the annualized premium" shall be paid at the end of each year during the Payout PeriodA lumpsum amount of "6 times the annualized premium" shall be paid at the end of the Payout PeriodAn additional Guaranteed Terminal Benefit, depending upon age at entry, is paid at the end of the Premium Payment Term -
Tax Benefit: AvivaNew Family Income Builder plan also comes packed with significant tax benefits. Under Section 80C of the Income Tax Act, 1961, you are eligible to get a tax benefit by way of a deduction towards premium paid up to Rs. 150,000. Additionally, under section 10(10(D)) of the Act, when the maturity claim is paid, it generates tax-exempt income, subject to the satisfaction of conditions of the Act.
Tax benefits applicable as per tax laws and are subject to change.
Plan options
Eligibility
Frequently Asked Questions
What is Aviva’s New Family Income Builder plan?
Aviva New Family Income Builder is a non-participating traditional insurance and investment/savings plan that offers the benefits of both savings as well as insurance to help you financially prepare for your future. This plan offers life insurance cover along with maturity benefits and regular guaranteed pay-outs*, making your savings twice as effective. Aviva New Family Income Builder not only helps in providing an enlarged safety net for your family as you enter a new phase in life, but also leaves enough funds to indulge yourself while fulfilling responsibilities.
How does the Aviva New Family Income Builder plan work?
While most traditional plans offer financial security and accumulated benefits payable in the long run, Aviva New Family Income Builder is a great choice for individuals looking for long-term investment options that offer regular income as well. Aviva New Family Income Builder assures this security net by offering guaranteed annual payouts on the completion of the policy term, provided that you have paid regular premiums for 12 years as per the policy terms.
- During the policy’s pay-out period, 12 annual installments of 1.5 times the Annualised premiums are due at the end of each year.
- At the end of the pay-out period, a lumpsum equal to 6 times of the annualised premiums will be paid.
- An age related Guaranteed Terminal Bonus shall also be paid at the end of the premium paying term.
What are the eligibility criteria for the Aviva New Family Income Builder plan?
The minimum entry age to buy this plan is six years last birthday, and the maximum age is 50 years last birthday. The minimum premium you can pay is Rs 40,000, and the maximum premium is Rs. 1 Cr. You can choose premium based on your convenience, financial risk, and goals you wish to achieve.
How do I buy the Aviva New Family Income Builder plan?
You can buy Aviva New Family Income Builder via our official agents or by visiting the nearest Aviva insurance offices. However, you can also buy Aviva’s investment plans via our official website. You can buy Aviva’s long-term investment plans by following these steps.
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