Aviva Term Insurance
Aviva India Life Insurance Company was established in 2002 as a joint venture by Dabur India and Aviva Plc, a UK-based insurance company. There are a variety of insurance products offered by Aviva India Life Insurance in India. Aviva Term Insurance Plan offered by Aviva Life Insurance provides an opportunity to the individual to secure the financial future of his/her family members.
Through Aviva Term Insurance Plan , in case of accidental death of the insured person, the insurance benefit is provided by the insurance company in the form of a sum of money to the person nominated by the insured person.
Aviva Term Insurance Plan provides the benefits of a term insurance plan to the person who buys the term insurance plan at very affordable premiums. In this, you also get the option of free-look period and grace period.
Features Of Aviva Term Insurance Plan
Features of Aviva Term Insurance Plan are as follows-
- It offers you the maximum term insurance plan at the lowest premium.
- The minimum age for Aviva term insurance plan is 18 years. Hence, you can avail term insurance plan at a young age itself.
- In this, you get many options for premium payment. You can choose to pay your premium plan monthly, half-yearly, annually.
- In this, you also get the option of free-look period and grace period.
Benefits Of Aviva Term Insurance Plan
Following are the benefits of Aviva Life Term Insurance Plan Benefits –
- Death Benefit:
In Aviva term insurance plan, in case of accidental death of the life assured, the sum assured is paid by the insurance company to the person nominated by the life assured. Through this sum assured, the family members of the insured can easily meet their financial needs without any hindrance.
- Maturity Benefit:
No maturity benefit is provided to you in Aviva term insurance plan. If the life assured survives the policy term then no benefit is provided to him.
- Tax Benefit:
Income tax benefits are also provided to you in Aviva term insurance plans. In this, you can get tax benefit on the premium paid under section 80C of Income Tax Act, 1961 and you are eligible for tax benefit under section 10(10D) of Income Tax Act, 1961 on death benefit.
- Rebate on Large Sum Assured:
Aviva Term Insurance offers you a discount on the higher sum assured. If you opt for a higher sum assured, then you are given a discount on the premium.
You can opt to enhance your term coverage by adding riders to the Aviva term insurance plan. Aviva Life gives you the option of adding different types of riders to your term plan.
Aviva Term Insurance Plan
Following are the term insurance plans offered by Aviva –
- Aviva Jana Suraksha
This plan offers you life insurance coverage at the lowest cost.
A lump sum death benefit is provided on the death of the life assured.
To get this plan, the minimum age should be 18 years and the maximum age should be 45 years.
The policy term of this term insurance plan ranges from 5 years to 10 years.
In the form of premium payment, you get the option of paying single premium and premium equal to the policy term.
You can choose to pay your premium as a single premium, annually, half-yearly, quarterly or monthly.
In this, you are also provided with tax benefits under the Income Tax Act, 1961.
- Aviva Saral Jeevan Bima Plan
This term plan is available to you at an affordable premium.
In this, you get a sum assured of minimum ₹ 5 lakh to a maximum of ₹ 25 lakh as death benefit.
You get this plan for a period ranging from 5 years to 40 years. In this, you get the option of free-look period and grace period.
In this you are provided with tax benefit.
In this, you do not get any kind of maturity benefit.
Aviva Term Insurance Plan Eligibility
Eligibility for Aviva Term Insurance Plan is as follows-
- Minimum Age – 18 Years
- Maximum Age- 65
Documents Required For Aviva Term Insurance Plan
The documents required for Aviva Term Insurance Plan are as follows-
- Photo identity proof (copy of PAN card or driving license),
- address proof,
- Income proof (3 months salary slip, Form 16)
- Age proof
Aviva Term Insurance Plan Premium
Aviva term insurance plan gives you multiple premium payment options for term insurance as per your convenience. You can choose to pay the premium for your Aviva term insurance plan as monthly, quarterly, half-yearly, annually or as a single premium payment.
- half yearly
- single premium payment
How To Buy Aviva Term Insurance Plan?
Most of the term insurance offered by Aviva Life is available through the online medium. To buy Aviva term insurance plan online, you have to visit the official website of Aviva Life and choose the plan of your choice and buy it online.
The plan which is not available through online medium, you can buy it through offline medium through agents, brokers, banks etc.