Get covered at unbelievably low premiums for high sums. It can't get any better.

Aviva Life Insurance

Aviva Life Insurance Co. India Ltd is a joint venture of Dabur Invest Corp which is of the oldest and most respected business houses in India and Aviva Group which is a UK based insurance group whose connection dates back to 1834 with India.

Aviva Life Insurance Company has a wide network of 108 branches across India

This company aims to be one of the leading insurers in India and offer quality products to its consumers with a substantial growth. This company is the leading insurance companies that offers quality business also with the touch of maintainable growth. Aviva Insurance was the first company that introduced modern unit-linked and unitized with-profit policies. This company has a variety of life insurance plans customized as per your requirement.

Interesting facts about Aviva Life Insurance Company

  • Aviva Life has over 13500 financial planning advisors in India
  • Aviva Life insurance company has 33 million customers across 16 countries
  • Aviva Life insurance company had a huge wide network of 108 branches across the country
  • Aviva Life insurance company offers robust product portfolio

Benefits of Aviva Life Insurance

  • Life cover: The plans offer life cover
  • Claim settlement ratio: This Company has a very good claim settlement ratio of 82% in 2015-2016. They claim settlement process is easy, quick and hassle-free
  • Wealth creation: Avivas's ULIP plans offer you a good return by investing a portion of the customers premium payments in the capital market, thus providing investment and protection
  • Tax benefits: Section 80C and 10(10D) under the Income Tax Act, provides tax benefits for premiums paid regularly
  • Cost: Aviva term insurance plans are affordable. They are pocket-friendly rates for every product under the term insurance category which makes them the most preferred term insurance company
  • Customer Service: This Company has an excellent team of customer service that offers good and hassle-free pre-sales as well as post-sales services

Types of Aviva Life Insurance Plans

There are different types of life insurance plans offered by Aviva Life Insurance Company. Each plan is unique and has competitive premium rates. Let's have a look at each of the plans offered by this esteemed company.

1. Term Insurance Plans

a.) Aviva iLife Term Insurance

This plan can be bought through the website. The features of this plan are mentioned below:

  • The sum assured is given to the nominee if the insured passes away during the policy term
  • Offers rebate in premium if you choose a higher range of sum assured
  • Women earn a 5% discount in premiums than that of men

b.) Aviva i-Shield Term Insurance

This plan can be bought through the website. The features of this plan are mentioned below:

  • On maturity of the term plan, 110% of the total premiums that the insured pays are returned to back
  • If the insured dies within first 10 years of the policy period, 100% of the sum assured is given to the nominee. If the insured dies during the 11th – 20th year of the policy period, 110% of the sum assured of the policy is given to the nominee. If the insured dies between 21st – 25th year of the policy period, 120% of the sum assured is compensated to the nominee
  • Offers rebate in premium if a sum assured is chosen at the range of Rs.20 lakhs and above
  • Section 80C and 10(10D) under the Income Tax Act, provides tax benefits for premiums paid regularly.

c.) Aviva Life Shield Advantage Plan

This plan can be bought through the website. The features of this plan are mentioned below:

  • Death benefit1- If the insured dies within the policy period, the sum assured is paid to the nominee immediately. Death benefit2 – sum assured along with the premiums paid till the death of the insured is paid to the nominee either on the death of the insured or if the insured suffers a total and permanent disability due to an accident, whichever is sooner.
  • If the insured outlives the policy, the total premiums paid are returned back
  • Section 80C and 10(10D) under the Income Tax Act, provides tax benefits for premiums paid regularly

d.)Aviva Life Shield Platinum Term Insurance

This plan can be bought through the website. The features of this plan are mentioned below:

  • Protection option1 (life protection) - The nominee is paid the sum assured if the insured dies within the policy period. Protection option2 (income replacement) – The nominee is paid income at regular intervals usually monthly which also increase @ 5% each year compounded annually. Protection option3 (loan protection) – Sum assured here reduces each year and on death of the insured during the policy period, sum assured as on the date of the death of the insured is paid to the nominee
  • Offers rebate in premium if you choose a higher sum assured
  • Smokers, non-smokers and healthy non-smokers chip in different premiums
  • Section 80C and 10(10D) under the Income Tax Act, provides tax benefits for premiums paid regularly

e.) Aviva Life Shield Plus Term Insurance

This plan can be bought through the website. The features of this plan are mentioned below:

  • The entire sum assured is paid to the nominee on the death of the insured during the policy period
  • Insured can pay the premiums either in lump sum through single pay or annually for the entire term
  • Offers tax benefits on claims made and premiums paid

f.) Aviva Sampoorna Suraksha Term Insurance

This plan can be bought through the website. The features of this plan are mentioned below:

  • The entire sum assured is paid to the nominee on the death of the insured during the policy period
  • Insured can pay the premiums either in lump sum through single pay or annually for the entire term
  • Offers tax benefits on claims made and premiums paid
  • If the insured outlives the policy, the premiums paid would be returned basis the tenure selected by the insured .
Policy period (years)Premium paying periodBelow 30 years entry ageEntry age between 31-40 yearsEntry age between 41-45 yearsEntry age between 46-50 years
8Single125% of the single premium paid120% of the single premium paid115% of the single premium paid110% of the single premium paid
95130% of the total premium paid125% of the single premium paid120% of the total premium paid115% of the total premium paid
107135% of the total premium paid130% of the total premium paid125% of the single premium paid120% of the total premium paid
1510155% of the total premium paid150% of the total premium paid145% of the total premium paid140% of the total premium paid

g.) Aviva Extra Cover Term Insurance

This plan can be bought through the website. The features of this plan are mentioned below:

  • This plan is basically a combination of Aviva i-Life and Aviva Health Secure that offers both term insurance as well as critical illness cover
  • 100% sum assured is paid to the nominee if the insured dies within the policy period
  • Critical illness cover states that if the insured gets diagnosed, then the nominee would be paid the sum assured if the insured survives for 30 days after the diagnosis is done
  • Offers rebate in premium if you choose a higher sum assured
  • Smokers, non-smokers and healthy non-smokers chip in different premiums
  • Section 80C and 10(10D) under the Income Tax Act, provides tax benefits for premiums paid regularly

h.) Aviva i-Life Secure

This plan can be bought through the website. The features of this plan are mentioned below:

  • 6% of the sum assured is paid immediately to the nominee. The balance amount is paid @6% of the sum assured each year for 15 years from the year of death of the insured
  • Offers rebate in premium if you choose a higher sum assured of 1 crore and above
  • Section 80C and 10(10D) under the Income Tax Act, provides tax benefits for premiums paid regularly

2. Savings Plan

a.) Aviva New Family Income Builder

  • It is a savings as well as protection oriented traditional plan offering you financial assistance by guaranteeing returns in the form of regular payouts for 12 years
  • Offers double amount of the premiums paid
  • Offers immediate guaranteed payout in case of death
  • Section 80C and 10(10D) under the Income Tax Act, provides tax benefits for premiums paid regularly

b.) Aviva i-Growth

  • Offers financial security to you as well as your family
  • It is a unit linked insurance plan that helps to make your money work harder and also offers comprehensive safety for you and your family
  • Offers coverage for life and also offers increased savings scheme to be used in difficult times
  • It offers 3 fund options, 3 policy terms
  • Section 80C and 10(10D) under the Income Tax Act, provides tax benefits for premiums paid regularly

c.) Aviva Life Bond Coverage

  • This is a unit linked plan that helps for wealth growth
  • Offers to invest in lump sum for long and medium term together with life cover
  • Offers flexibility to access your funds post completion of 5 years
  • It has single premium option with unit linked plans
  • Offers flexibility to withdraw post completion of 5 years
  • Offers flexibility to switch between 7 funds
  • Section 80C and 10(10D) under the Income Tax Act, provides tax benefits for premiums paid regularly

d.) Aviva Dhan Samruddhi

  • In this plan you simply have to save for a limited period but you reap the benefits by getting your money back every 5 years
  • Offers guaranteed yearly additions up to 9% of annualized premiums
  • Section 80C and 10(10D) under the Income Tax Act, provides tax benefits for premiums paid regularly

e.) Aviva Life Smart

  • Offers liberty to choose your own investment decisions for long term growth
  • It is a unit linked insurance plan
  • Offers flexibility for choosing your policy term
  • Offers 7 fund options right from 100% equity to 100% debt
  • Offers free partial withdrawal post completion of 5 years
  • Section 80C and 10(10D) under the Income Tax Act, provides tax benefits for premiums paid regularly

f.) Aviva Wealth Builder

  • It is a traditional life insurance plan that doubles the premium amount you paid totally and then return it as a lump sum on maturity which is again guaranteed
  • Offers 3 policy term options
  • Section 80C and 10(10D) under the Income Tax Act, provides tax benefits for premiums paid regularly

g.) Aviva Affluence

  • It is a unit linked insurance plan wherein you can live to the fullest and also demand the maximum out of your finances
  • Offers payment for a limited term
  • You remain invested to meet your long term goals
  • Offers 7 fund options
  • Section 80C and 10(10D) under the Income Tax Act, provides tax benefits for premiums paid regularly

h.) Aviva Dhan Vruddhi Plus

  • Offers you to save systematically and help to build a corpus
  • Offers returns of premiums as well as bonus on maturity
  • Offers 3 payment term options
  • Section 80C and 10(10D) under the Income Tax Act, provides tax benefits for premiums paid regularly

g.) Aviva Dhan Nirman

  • Offers a guaranteed regular stream of income and also bonus at the end of the policy term
  • Offers 4 policy term options
  • Offers guaranteed lump sum amount on maturity
  • Section 80C and 10(10D) under the Income Tax Act, provides tax benefits for premiums paid regularly

3. Child Plans

a.) Aviva Young Scholar Secure

  • It is a traditional plan that secures financially your child’s education at important milestones of life
  • Offers waiver of future premium in case of death of the parent
  • Section 80C and 10(10D) under the Income Tax Act, provides tax benefits for premiums paid regularly
  • Your child’s education is secured well due to this plan
  • Withdrawal of funds is allowed

b.) Aviva Young Scholar Advantage

  • It is a unit linked insurance plan to secure your child’s education
  • Offers lump sum amount in case of death of the parent
  • Offers waiver of future premium in case of death of the parent
  • Section 80C and 10(10D) under the Income Tax Act, provides tax benefits for premiums paid regularly

c.) Aviva New Family Income Builder

  • It is a savings as well as protection oriented traditional plan offering you financial assistance by guaranteeing returns in the form of regular payouts for 12 years
  • Offers double amount of the premiums paid
  • Offers immediate guaranteed payout in case of death
  • Section 80C and 10(10D) under the Income Tax Act, provides tax benefits for premiums paid regularly

4. Health Insurance Plans

a.) Aviva Health Secure

  • Offers you lump sum payment in case you are diagnosed with any of the 12 critical illnesses
  • Section 80C and 10(10D) under the Income Tax Act, provides tax benefits for premiums paid regularly

b.) Aviva Heart Care

  • This is a non-linked, non-participating health insurance plan
  • Offers coverage for 19 heart conditions and also makes up for the loss of income
  • Offers fixed payout in spite of the cost of treatment
  • Offers multiple number of claims under one policy
  • Offers sustained coverage with waived premiums
  • Section 80C and 10(10D) under the Income Tax Act, provides tax benefits for premiums paid regularly

5. Retirement Plans

a.) Aviva Next Innings Pension Plans

  • Offers guaranteed income stream for your retirement years
  • Offers lump sum that is guaranteed of 210% of the premiums paid at maturity
  • Offers protection for your beloved family post your death
  • Section 80C and 10(10D) under the Income Tax Act, provides tax benefits for premiums paid regularly

b.) Aviva Annuity Plus

  • Offers guaranteed monthly income post your retirement
  • Section 80C and 10(10D) under the Income Tax Act, provides tax benefits for premiums paid regularly
  • Offers flexibility to choose from 7 annuity options
  • Offers guaranteed annuity amount
  • Offers flexibility to boost the purchase price at inception for higher annuity installment

c.) Aviva New Family Income Builder

  • It is a savings as well as protection oriented traditional plan offering you financial assistance by guaranteeing returns in the form of regular payouts for 12 years
  • Offers double amount of the premiums paid
  • Offers immediate guaranteed payout in case of death
  • Section 80C and 10(10D) under the Income Tax Act, provides tax benefits for premiums paid regularly

6. Rural Plans

a.) Aviva CSC Bima Laabh Yojana

  • Offers immediate payment of sum assured in case of death of the life insured
  • Offers flexibility to choose from 2 policy term
  • Offers protection with a lowest premium of Rs.300
  • Offers convenience to purchase the plan from nearby Common Service Centre
  • Section 80C and 10(10D) under the Income Tax Act, provides tax benefits for premiums paid regularly

b.) Aviva Jan Suraksha

  • Offers low cost life insurance
  • Offers guaranteed amount in lump sum in case of death of the life assured during the policy period
  • Section 80C and 10(10D) under the Income Tax Act, provides tax benefits for premiums paid regularly
  • Offers comprehensive protection to your dependents

c.) Aviva Nayi Grameen Suraksha

  • Offers protection with single premium
  • Offers guaranteed amount in lump sum in case of death of the life assured during the policy period
  • Section 80C and 10(10D) under the Income Tax Act, provides tax benefits for premiums paid regularly
  • Offers flexibility to choose from 2 policy terms

d.) Aviva Sampoorna Suraksha Insurance

  • The entire sum assured is paid to the nominee on the death of the insured during the policy period
  • Insured can pay the premiums either in lump sum through single pay or annually for the entire term
  • Offers tax benefits on claims made and premiums paid
  • If the insured outlives the policy, the premiums paid would be returned basis the tenure selected by the insured

7. Group Plans

a.) Aviva Group Gratuity Advantage Plan

  • It is a group unit-linked product for a corporate sector
  • These plans are tailor-made as per an individual's requirements
  • Offers a lump-sum amount to the employees or their dependents
  • Offers tax benefits to the employers
  • Offers flexibility to invest in various unit linked funds
  • Offers convenience to transfer the past service contributions
  • Offers administrative support

b.) Aviva New Group Leave Encashment Plan

  • Offers benefits to the employees like leave encashment payable in the future
  • Offers flexibility to invest in various unit linked funds
  • Offers multiple investment options to invest in group debt and equity fund
  • Offers flexibility to switch between various funds
  • Offers contribution redirection

c.) Aviva New Traditional Employee Benefit Plan

  • It is customized for meeting the needs of the corporate sector
  • This plan helps the employees for benefits pertaining to gratuity and leave encashment post resignation, death or retirement

d.) Credit Suraksha

  • Offers financial security to the members of the unorganized groups and their family members
  • Offers risk coverage for flat, loan linked or graded
  • Offers optional life coverage for the spouse

e.) Credit Plus

  • This plan is customized for micro financial organizations providing loan facilities in the rural and semi urban areas
  • Offers death benefit in case of untimely death of the members to meet the expenses

f.) Aviva Group Life Protect

  • It is a single premium group term plan providing life cover
  • It is mainly for banks, financial institutions, credit societies etc.

Claim Process of Aviva Life Insurance

The claim can be filed in a simple and hassle-free process. Mentioned are the steps for claim process:

1. Claim Intimation:

The nominee of the insured needs to intimate the claim to the insurance company by filling a claim form completely. Necessary documents needs to be attached along with the claim form. They are mentioned below:

  • Terminal illness claim form
  • Critical illness claim form
  • Accidental disability form
  • Natural/Accidental death form The nominee needs to ensure that the form is filled based on the type of claim and submitted to the Aviva Life Insurance office along with the doctor’s certificate, death certificate, physician statement etc.

You can also contact the Customer Service Helpline at 1800-103-7766. You can also write to the: Claims Department, Aviva Life Insurance Company India Ltd, Aviva Towers, Sector 43, Opposite DLF Golf Course, Gurgoan- 122 003.*

2. Fund value payment:

On receiving the documents, the fund value of the plan is paid to the nominee of the policy. This process happens only during death claim.

3. Arrange for documents:

Based on the type of claim, your nominee would then have to attach the relevant documents in original or photocopies. These photocopies are needed to be attested by a Gazette officer.

4. Settlement payout:

The insurance company would verify the documents once received. In case of any more documentation, the verification process would be complete after receiving the same. The clauses and riders if any would also be examined. If all the documents are found right as per the requirement, then the funds would be released in the nominee’s favor.

The payment is done via NEFT (National Electronic Fund Transfer) to the nominee. The insurance company ensures complete transparency to reduce any possible frauds and financial discrepancy.

Review of Aviva Life Insurance

Aviva Life Insurance offers an array of reasonably priced term insurance policies. Their term plans are made-to-measure to shield you against your mounting financial responsibilities towards your family after your demise. They boast of a very good claim settlement ratio amongst other private insurers. Their insurance products like Aviva extra cover, Aviva iLife secure plan, Aviva i-shield plan and Aviva Sampoorna Suraksha term plans are premeditated to meet precise requirements. Hence, if you are scouting for an insurer who will deliver dependability, competence and brilliant post sales services in consort with the products specific to your requirements, Aviva Life Insurance is a won over alternative.

Aviva Life Insurance Company Details

Customer Service Helpline: 1800-103-7766

Address: Claims Department, Aviva Life Insurance Company India Ltd, Aviva Towers, Sector 43, Opposite DLF Golf Course, Gurgoan- 122 003.

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