A joint venture between one of India’s most trusted business houses Dabur Invest Corp and the UK based Aviva Group, Aviva Life Insurance Company is now one of the most popular companies in the Indian insurance sector. Aviva Life is also among the few companies to have introduced the country to unit-linked plans.
The investment plans by Aviva Life meet the investor’s saving as well as protection-based needs. They are offered as participating as well as non-participating plans and may be issued as Money-Back or Endowment Plans. Investment plans are meant for long-term saving and the money cannot be withdrawn during the lock-in period. In case the investor stops the payment of the premium after full three-year payment, the plan becomes paid-up. The sum assured reduces and the policyholder either continues the plan at the reduced cover or he surrenders the plan.
Let us take a look at the various investment plans that are offered by Aviva Life.
Aviva Dhan Nirman is a traditional savings plan. It provides you with a promised stream of income along with a bonus when your policy term ends. When the plan matures, the sum assured that is paid is 5-6 times the annual premium. This of course, also depends on the tenure of the plan.
Eligibility:
| Minimum | Maximum | |
| Entry Age | 4 years | 50 years |
| Maturity Age | - | 75 years |
| Sum Assured | INR 2 lakh | INR 1 crore |
| Policy Tenure | 18/ 21/ 25 and 30 years | - |
| Premium payment term | 14/15/16/18 | - |
| Annual Premium | 14,486 | 9,98,000 |
The Aviva Wealth Builder plan is also a traditional life insurance plan but what makes it unique is the feature that it pays double the amount of the premiums that have been paid. And when the plan gets matured the amount is returned as a lump sum.
Eligibility:
| Minimum | Maximum | |
| Entry Age | 5 years | 50 years |
| Maturity Age | 18, 20 or 22 years | 63, 65 or 67 years |
| Sum Assured | Single Pay INR 3 Lakhs 5 Pay- INR 5 lakh 10 Pay- INR 10 lakh | Single Pay INR 2 Crores 5 Pay- INR 10 Crores 10 Pay- INR 20 Crores |
| Policy Tenure | 13/ 15/ 17 years | - |
| Premium payment frequency | Single or annual | - |
This plan by Aviva Life, is a conventional life insurance plan that gives a guaranteed cash back every 5 years. The plan also provides a specific maturity benefit to meet your long as well as short-term requirements. Depending on the tenure of the plan, there is a set percentage of guaranteed addition (generally between 7% to 9%) to the annualised premium which is paid till the maturity of the plan or the death of the insured individual.
Eligibility:
| Minimum | Maximum | |
| Entry Age | 13 years | 55 years |
| Maturity Age | 23 years | 70 years |
| Sum Assured | INR 1 lakh | INR 5 crore |
| Policy Tenure | 10/ 15/ 20 years | - |
This conventional life insurance is a participating plan that helps you in building up a corpus systematically. When the plan matures, the entire amount of premiums that is collected along with the bonuses is returned to you.
Eligibility:
| Minimum | Maximum | |
| Entry Age | 18 years | 50 years |
| Maturity Age | - | 70 years |
| Sum Assured | INR 3 Lakh | INR 5 Crores |
| Policy Tenure | 20 years | - |
| Minimum Premium | Rs. 21,258 | Rs. 48.68 Lakh |
| Premium Payment Frequency | Annual only | - |
Aviva iGrowth is a non-participating unit-linked insurance plan, ULIP, that helps you in providing comprehensive security to your family and you. With this plan you get the flexibility to select between 3 policy terms as per your financial requirements.
Eligibility:
| Minimum | Maximum | |
| Entry Age | 18 years | 50 years |
| Maturity Age | - | 60 years |
| Sum Assured | INR 3.5 lakh | INR 50 lakh |
| Policy Tenure | 10/ 15 or 20 years | - |
| Premium payment term | Regular | - |
| Premium payment frequency | Yearly, Half Yearly, Quarterly and Monthly | - |
A ULIP, unit-linked insurance plan, gives you the freedom and the flexibility to make the investment decisions as per your choice and requirements of long-term growth.
Eligibility:
| Minimum | Maximum | |
| Entry Age | 6 years | 50 years |
| Maturity Age | 18 | 62 years |
| Sum Assured | INR 9.6 lakh | INR 24 crore |
| Premium | Rs. 40,000 | Rs. 1 crore |
| Policy Tenure | 12 years | - |
| Premium payment term | Regular | - |
| Premium Payment Frequency | Annual | - |
This investment plan by Aviva Life is a ULIP and helps you plan your investment for long-term. Though in this plan you would not earn bonuses, along with the life insurance you can enjoy the market linked returns. There are certain loyalty additions that are added to the plan to add to the fund value. This plan also has an Accidental Death Benefit rider which is inbuilt.
Eligibility:
| Minimum | Maximum | |
| Entry Age | 2 years | 50 years |
| Maturity Age | 18 | 65 years |
| Policy Tenure | 15 years | 30 years |
| Annual Premium Payable | INR 50,000 | No Limit |
| Premium payment term | Regular | - |
| Premium Payment | Annual | - |
This investment plan by Aviva Life is a single premium unit-linked insurance plan, ULIP, and does not offer any liquidity for the initial 5 years and therefore you would not be able to withdraw or surrender your investment wholly or partially for the first 5 years. The fund value of the plan will be paid to you once the policy matures, whereas, in case of your untimely death, your beneficiary would receive the death benefit which would be the higher of either the fund value or the sum assured. This plan also has an Accidental Death Benefit rider which is inbuilt.
Eligibility:
| Minimum | Maximum | |
| Entry Age | 2 years | 65 years |
| Maturity Age | 18 | 75 years |
| Policy Tenure | 10 years | 73 years |
| Single Premium | Rs. 50,000 | No limit |
Aviva Affluence is an ULIP that is aimed at creating wealth. With Aviva Affluence you need to make payment for a specific term and stay invested. Thereafter, you can achieve your long-term financial requirements such as your retirement or your child’s education. This is a unit-linked insurance plan, ULIP, and does not offer any liquidity for the initial 5 years and therefore you would not be able to withdraw or surrender your investment for the first 5 years.
Eligibility:
| Minimum | Maximum | |
| Entry Age | 2 years | 50 years |
| Maturity Age | 18 | 70 years |
| Policy Tenure | 15 years | 30 years |
| Premium | 15 years | No limit |
| Premium payment term | 5 / 7 / 10 / 15 or Equal to Policy Term | - |
Aviva Life has individual as well as Group Insurance plans. You can visit www.avivaindia.com/saving-plan and can compare the plans online and select the one that suits your needs and requirements. You also have easy access to Product Details, Brochure Download and the Policy Schedule. You can request a callback by sharing your mobile number. Or if you want to contact them yourself you write to them at customerservices@avivaindia.com or can call at 1800-103-7766.
Why Choose Aviva Insurance Investment Plan?
Aviva Life has established a strong foothold in India as a fast-growing insurance company that offers various investment plans with many special benefits. Their hassle-free claim processing, flexible tenures and payment frequency make them all the more popular. Almost all the insurance plans are also eligible for a tax benefit under Section 80C and Section 10 (10D) of the Income Tax Act.
How do I check the status of my claim with Aviva life insurance?
If your contact details are updated with the company, you will regularly receive your claim status. The company will keep you posted through letters, emails, phone calls and SMS. If you have any concerns or queries you can send an email to get details on the same. The email id is claims@avivaindia.com . If you wish to speak to a customer care executive you may call 1800-103-77-66 OR 0124-2709046.
Which is the best Aviva Life Investment Plan for long-term?
Aviva Life Bond Advantage is considered to be one of the best plans if you wish to invest for long-term. This is a unit-linked insurance plan. A ULIP, not only provides market linked returns but also gives you insurance cover. Under the single pay option of payment of premium. Premium is paid when the plan starts. In a year you are allowed to make 12 free switches between funds. Aviva Life Bond Advantage is also eligible for a tax deduction under section 80C and 10 (10D) under the Income Tax Act, 1961.
Why should I buy Aviva Life Investment Plan?
Aviva Life is one of India’s leading insurance company, the major credit goes to the special features of their investment plans like hassle-free claim processing, flexible tenures and payment frequency. Most of the insurance plans are also eligible for a tax benefit under Section 80C and Section 10 (10D) of the Income Tax Act, 1961.
How to pay the premium? What are the modes of payment available?
The Aviva Life Investment Premiums can be paid by making the deposit at the registered branch through Cash or Cheque payments. To pay the premium online, any of these methods may be used-Airtel Money, Auto Debit from your Debit or Credit Card, Change Payment Method, HDFC or SBI or AXIS Bank Debit Cards, NEFT or through ECS System.
How can I check policy status for Aviva Insurance Investment Plan?
To check your policy status, visit the official website or click this link: intranetapplications.avivaindia.com/eservicing/policystatus.aspx . You would be taken to a new page, where you would need to enter your policy number and date of birth. Once you enter the details, click “Display”. The status of your policy would be displayed on your screen.
