Individual Insurance Plan

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Term Insurance

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    High sum assured at affordable premiums

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    Option of return of premium

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    Coverage against Accidental Permanent Total Disability

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    Tax benefits

Tax benefits are as prevailing tax laws.Tax laws are subject to change. Jul 22/19.

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Term Insurance

  • icon

    High sum assured at affordable premiums

  • icon

    Option of return of premium

  • icon

    Coverage against Accidental Permanent Total Disability

  • icon

    Tax benefits

Tax benefits are as prevailing tax laws.Tax laws are subject to change. Jul 22/19.

Term Insurance

Safeguard the financial future of your family when you are not around

A term insurance plan is the most basic form of life insurance. It offers a high cover amount at a very nominal premium and is one of the cheapest forms of life insurance. Term insurance plans take care of all the financial needs of your family when you are not around. Think of it the way you cast a blanket over your sleeping child, the term insurance plan casts a safety net over your loved ones in the future. You may not be physically present to finance their future goals, but the term insurance can and will.

Our Term Plans

It’s not just a term insurance plan – it’s a safety net you cast around your loved ones

Life insurance plan which offers premiums back on survival

Aviva LifeShield Advantage

Key Benefits
  • Life cover with return of premiums at maturity
  • Option for coverage against disability
  • Avail tax benefits u/s 80(c), 10 10(d)

Know More

Talk to an Expert

Low cost life cover to protect your family

Aviva Jana Suraksha

Key Benefits
  • Life cover starting as low as Rs. 25,000
  • Double the cover in case of accidental death
  • Choice of single or regular pay options

Know More

Talk to an Expert

Life insurance plan which offers premiums back on survival

Aviva LifeShield Advantage

Key Benefit
  • Life cover with return of premiums at maturity
  • Option for coverage against disability
  • Avail tax benefits u/s 80(c), 10 10(d)

Talk to an Expert

Know More

Low cost life cover to protect your family

Aviva Jana Suraksha

Key Benefit
  • Life cover starting as low as Rs. 25,000
  • Double the cover in case of accidental death
  • Choice of single or regular pay options

Talk to an Expert

Know More

Why Aviva Term Plans?

Because we are committed to help you prepare for life’s biggest challenges

  • Your claim comes first

    Over the last year we settled 96.06% of all claims made
    (Individual Business, FY 2018-19)

  • We are the Most Trusted

    Awarded Best Brand 2019 & Most Trusted Brand 2018 & 2019
    (TRA brand Trust Report, 2019 & Economic Times)

  • Choice of millions

    Insuring 33 million customers across 16 countries and over 2 million pan India

Straight from our customers

  • "The services and policies given by Aviva are excellent, and would definitely recommend everyone to buy a policy with them!"

    Mr. Dinesh Nair
  • "I feel proud about my decision to be associated with Aviva to secure my family. I am happily enjoying my life because I know there is someone to take care of my family. Good going guys! Keep it up with such good plans and services."

    Mr. Nitin Garg
  • "I wish to extend my wishes to the Aviva Family for winning one of the Most Trusted Brands award, which builds my trust even more on the Term Plan I have with you guys. I am very happy with the services!"

    Mr. Deepak Sharma

Straight from our customers

"The services and policies given by Aviva are excellent, and would definitely recommend everyone to buy a policy with them!"

Mr. Dinesh Nair

"I feel proud about my decision to be associated with Aviva to secure my family. I am happily enjoying my life because I know there is someone to take care of my family. Good going guys! Keep it up with such good plans and services."

Mr. Nitin Garg

"I wish to extend my wishes to the Aviva Family for winning one of the Most Trusted Brands award, which builds my trust even more on the Term Plan I have with you guys. I am very happy with the services!"

Mr. Deepak Sharma

The why, what and how of Term Insurance

All you need to know about Term Insurance

Learn More

Frequently Asked Questions

What is term insurance?

A term insurance plan is a life insurance policy that, works purely to serve the future needs of your family members. A term policy offers high sum assured at a low cost. A high sum assured will help your family overcome the difficulties that accompany the loss of income due to the absence of the insured family member.

Why you need a term insurance policy?

Life is rarely certain and unwanted events can create havoc with the best laid plans. The absence of a family member causes extreme turmoil - physically, emotionally and financially. Your life is precious, especially if you are the breadwinner of the family. A term insurance policy takes care of the monetary needs of your family even when you are not around. It helps your family settle unpaid debts & loans, fund the child’s education and deal with day to day living expenses.

What are the documents required to buy term insurance plan online?

Buying the term insurance plan online is really simple – just make a note of the following documents you need to attach with your application form:

  • Age proof
  • ID proof
  • income proof

How to choose best term insurance plan in India?

Please check whether your insurer offers the following benefits before buying a term plan:

  • Claim Settlement Ratio- The higher the ratio, the more efficient the insurance provider is with settling insurance claims. Aviva had a high claim settlement ratio of 96.06% last year.
  • Sum Assured- This is the amount of money that the plan will pay in case of the insured’s demise during the plan tenure. It is important to opt for appropriate sum assured such that your family is taken care of financially in your absence.
  • Flexible Payout- The insurer may offer flexibility with respect to payment of claims. The claims can either be paid as a lump sum or at regular intervals i.e. monthly, quarterly or yearly.
  • Tax Benefits- The term insurance premiums fetch you tax benefits under Sec 80C of the Income Tax Act, 1961.

How Aviva term plan secures the financial future of your family?

Aviva term plan offers you the best term insurance plan with the multiple benefits:

  • Term plans provide high sum assured at affordable premiums
  • Help cover financial liabilities of the family
  • Offer flexibility of payout as lump sum or regular income
  • Offers riders which provide coverage against critical illness and disability at nominal cost
  • Provide tax benefits on premium paid as per tax law

What is the amount of cover that I need?

There is no defined formula to identify the amount of life cover you should opt for; it varies from person to person.
The table below gives broad guidelines which can be used as a rule of thumb.

Age Band

Cover

20 – 25 years (single)

8-10 times the annual income plus any outstanding liabilities

25 – 30 years (newly married)

12 – 15 times the annual income plus any outstanding liabilities

30 – 45 years (with young kids)

15 – 20 times the annual income plus any outstanding liabilities

45 – 55 years (post responsibilities)

8-10 times the annual income plus any outstanding liabilities

How does a term plan work?

A term plan is the most elementary form of life insurance. By purchasing a term insurance policy, you, as the ‘policyholder pay a nominal amount as ‘premium’ for a certain period or tenure. The earlier you purchase a term plan, the lesser will be the premium (per year) you have to pay. In case, you meet an unfortunate incident resulting in loss of your life, your family or ‘nominee’ is given the ‘sum assured’ or ‘cover’ - large lump sum amount to meet your financial liabilities. In case you wish to have a additional coverage beyond just life cover, you can choose riders, such as critical illness and disability.

Does term insurance come under 80c?

Like all life insurance products, term insurance also offers tax benefits. Primarily, you get tax rebates for the premiums paid under your policy. Premium paid for a term plan will offer tax benefits under sec 80C of the Income Tax Act. Any payout made to the beneficiaries is tax free.

What are the exclusions while buying term insurance?

Death cover under all circumstances except the following:

  • Death due to any pre-existing medical condition not mentioned in the policy term
  • Death due to any illegal activity
  • Suicide within the first year of policy tenure

What is term insurance?
Why you need a term insurance policy?
What are the documents required to buy term insurance plan online?
How to choose best term insurance plan in India?
How Aviva term plan secures the financial future of your family?
What is the amount of cover that I need?
How does a term plan work?
Does term insurance come under 80c?
What are the exclusions while buying term insurance?
AN: Feb 17/20

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