Aviva Smart Monthly Income Plan

Your financial well-being is not just about how much you save today, but how confidently you can rely on those savings tomorrow. Imagine a plan that gives you a fixed income at regular intervals, helps you manage your monthly commitments with ease, and still protects your family with life cover – all while returning your premiums at the end of the term. That is what the Aviva Smart Monthly Income Plan is built to do.

Aviva Smart Monthly Income Plan is an Individual, Non-Linked, Non-Participating Savings Life Insurance Plan that offers guaranteed regular income along with life insurance protection. You can start receiving income as early as the first policy month and, on survival till maturity, get back 100% of the Total premiums paid#, as per policy terms. It is well-suited for individuals who want a predictable income stream to support everyday expenses, lifestyle needs, or long-term financial goals, with life coverage without taking on market-related risk.

Why should you buy Aviva Smart Monthly Income Plan

Aviva Smart Monthly Income Plan combines life coverage along with a predictable income to support your long-term financial stability.

Guaranteed income paid monthly or yearly throughout the policy term.
Life insurance cover to protect your family in case of an unfortunate event
100% return of Total premiums paid# at maturity
Choice of premium payment and policy term

Option to select income payout frequency based on personal preference
Optional riders to enhance overall protection
Loan facility available once the policy acquires surrender value
Tax benefits as per prevailing laws

Benefits of Aviva Smart Monthly Income Plan

Survival Benefit: If the life insured survives and the policy remains active, a guaranteed income is paid either monthly or yearly, based on the payout frequency chosen at the start of the policy. It continues throughout the policy term, providing a reliable source of income to manage routine expenses, support lifestyle needs, or meet financial commitments.
Maturity Benefit: If the policyholder survives the full policy term, they receive a lump sum equal to 100% of the Total Premiums Paid#. This excludes taxes, rider premiums, and any extra charges. The amount is paid in addition to the regular income received during the policy period, ensuring your premiums are returned at maturity for added financial reassurance.
Death Benefit: In the unfortunate event that the life insured passes away during the policy term, the nominee receives a lumsum payout to support their financial needs. The death benefit payable will be the highest of the following:
- Death Sum Assured
- 105% of Total Premiums Paid*
- Surrender Value applicable on the date of death
Once the death benefit is paid, the policy terminates. This ensures that the family receives immediate financial support to help manage living expenses, liabilities, and future needs.
Riders Available With This Plan: While the base plan offers regular income and life cover, you can further enhance your protection with optional riders. These add-ons provide extra financial support for specific situations that may not be fully covered under the main policy—giving you added security without needing a separate insurance plan.
The Aviva Smart Monthly Income Plan allows you to choose from the following riders
Lapse And Revival: If premiums are not paid within the grace period, the policy may lapse or become paid-up, depending on how many premiums have been paid. The policyholder can revive the policy within five years from the first unpaid premium by paying all due premiums along with interest, subject to medical requirements if applicable.
Surrender Value: The policy can be surrendered any time after at least of one year premium paid. The surrender value payable will be the higher of:
- Guaranteed Surrender Value
- Special Surrender Value
Please refer to the product brochure for detailed overview!

Loan Facility: Once the policy acquires surrender value, a loan of up to 80% of the surrender value may be availed, subject to interest rates and policy terms n conditions.
Tax Benefits: Tax benefits are available on premiums paid and benefits received as per prevailing Income Tax laws, which are subject to change from time to time. Policyholders are advised to consult their tax advisor for personalised guidance.
Aviva Accidental Casualty Non-Linked Rider:This rider offers additional financial support if the life insured passes away due to an accident. It helps your family cope with unexpected expenses that may arise from accidents, such as medical costs or lost income.
Aviva New Critical Illness Non-Linked Rider:This rider provides a lump sum payout if the life insured is diagnosed with any of the specified critical illnesses listed in the policy. This amount can be used for treatment, recovery during a difficult time.
Aviva Cancer Cardio Non-Linked Rider:This rider offers financial assistance in the event of cancer or primary heart-related conditions as specified under this rider. It helps ease the financial burden of costly treatments and long-term care, allowing you to focus on recovery rather than worrying about expenses.

Terms & Conditions of Aviva Smart Monthly Income Plan

Features of Aviva Smart Monthly Income Plan

Aviva Smart Monthly Income Plan options

The Aviva Smart Monthly Income Plan is designed to match your income and protection needs. It offers guaranteed monthly income along with life cover, helping you choose the option that supports both your current lifestyle and long-term financial goals.

Provides guaranteed monthly or yearly income throughout the policy term
Income begins as early as the next policy month or next policy year, based on the chosen payout frequency
Income continues until the end of the policy term, provided the life insured survives and the policy remains active
100% return of Total premiums paid# at maturity, excluding taxes and rider premiums; if any
Life cover continues throughout the policy term
Suitable for those who want regular income stream with life cover

Eligibility

Criteria	Details
Minimum Entry Age	18 years (last birthday)
Maximum Entry Age	55 years (last birthday)
Minimum Maturity Age	38 years
Maximum Maturity Age	75 years
Policy Term	20 / 25 / 30 years
Premium Payment Term	7 / 10 / 12 / 15 years
Minimum Annualised Premium	₹60,000 (₹1,00,000 for PPT 7 years)
Base Sum Assured	7x or 10x of Annualised Premium
Premium Payment Frequency	Monthly / Half-Yearly / Yearly
Income Payout Mode	Monthly / Yearly

#Total Premiums Paid means total of all the premiums received, excluding any extra premium, any rider premium and taxes.

Frequently Asked Questions - Aviva Smart Monthly Income Plan

This plan is designed for individuals seeking immediate steady income, life insurance protection, and the return of premiums at maturity. It works well for those planning for regular expenses, future financial commitments, or a predictable income during important life stages.

Income can begin as early as the first policy month or the first policy year, depending on the option chosen at the time of policy purchase.

Yes, the income under this plan is fixed and guaranteed throughout the policy term, provided the life insured survives and the policy remains active in accordance with the stated conditions.

Yes, on survival till maturity, 100% of the Total premiums paid is returned as a lump sum, excluding taxes and any rider premiums.

Yes, optional riders can be added at the start of the policy to enhance protection according to your personal needs and risk profile.