Aviva i-Shield


Aviva i-Shield - Term Assurance plan
How Does it


A significant number of us opt to protect our homes, gadgets and even vehicles with security measures such as an auto-cop, security-alarms along with other safety net mechanisms. But what kind of life protection do you have for yourself?  When it comes to protecting ourselves and safeguarding our family’s interests, it’s quite alarming that not many of us seem to bother.

Ask yourself; would your spouse, children or other loved ones be able to keep up with regular household expenses, attend college, or for that matter, retire in comfort without your income to support them?

Term Insurance

Term Insurance plans are designed to offer the largest coverage amount for the lowest premium. A term insurance helps safeguard you and your loved ones from the various uncertainties life throws in your direction. It can lend you the peace of mind by ensuring that your financial debts along with your loved ones will be taken care of in the event something untoward were to unfold. Having a term insurance policy in place not only assists in mitigating any financial insecurities but also helps propel wealth creation thus helping save money that would otherwise get sucked away into paying income tax. Protecting your family with a term insurance is a caring, responsible act. So without further ado, go get yourself covered today!

Aviva i-Shield

Aviva i-Shield has been designed to provide customers, comprehensive life insurance with a ‘zero wastage’ proposition. Here are some of the salient features of this policy:

  1. Aviva i-Shield is a term insurance plan which provides life cover with a return of premium. If everything goes as planned, at maturity, this plan will return 110 per cent of all paid premiums back to you. (excluding taxes and extra premiums, if any)
  2. You can enjoy tax benefits under Aviva i-Shield. All premiums paid are eligible for deduction under section 80C (up to Rs. 1,50,000). Moreover, it also yields tax-free proceeds (tax exempt) under Section 10 10 (D) of the Income Tax Act, 1961 subject to satisfaction of certain conditions.*
  3. Choose to be covered from as little as 10 years to 25 years up to the age of 65. 
  4. You can enjoy discounts on premium rates on choosing a high sum assured in excess of Rs. 20,00,000 and above.
  5. As per your particular requirements, you can choose the level of protection as per your requirements, starting from as low as Rs. 15 lakhs up to a maximum of Rs. 5 Crore (In multiples of Rs 25000, subject to underwriting). If something unfortunate were to happen to you during the policy period, your nominee will get paid the full amount of the sum assured thus helping your loved ones go on without you financially while they recover from your loss.
  6. You get the option to pay premiums annually, half-yearly, or monthly depending upon your income pattern or as per your convenience.
  7. Lower rate of GST i.e. 4.5% for the 1st year premium and 2.25% for subsequent year premiums is applicable as against 18% GST applicable on pure term insurance plan

Disclaimer: Tax laws are subject to change.