About Aviva Protection Plans

Following are the different types of Protection Plans on offer from Aviva Life Insurance Company:

Aviva i-Life Term Insurance

  • If the policyholder passes away during the policy tenure, the Sum Assured is offered to the nominee
  • If you opt for a higher range of Sum Assured, you can avail rebate in premium.
  • Women are offered a 5% discount in premiums.

Aviva i-Shield Term Insurance

  • 110% of the total payable premiums are returned on maturity of this plan
  • 100% of the Sum Assured is given to the nominee if the insured suffers death within first 10 years of the policy tenure.
  • 110% of the Sum Assured of the policy is given to the nominee if the insured dies in the midst of the 11th and the 20th policy term year.
  • 120% of the Sum Assured is compensated to the nominee if the insured suffers death amid the 21st and 25th policy term year.
  • Rebate in premium is offered given that a Sum Assured is chosen at the range of Rs. 20 lakhs and above
  • Provides tax benefits

Aviva Life Shield Advantage Plan

  • Death Benefit 1: The Sum Assured is paid to the nominee immediately if the insured dies within the policy term.
  • Death Benefit 2: On the death of the insured, the nominee is paid the Sum Assured along with the premiums paid till the date of death of the insured
  • The total premiums paid are returned back if the insured outlives the policy,
  • Provides tax benefits

Aviva Life Shield Platinum Term Insurance

  • Protection Option 1: If the insured dies within the policy period the nominee is paid the Sum Assured.
  • Protection Option 2 (income replacement): The nominee is paid income at regular intervals (usually monthly). It also increases @ 5% compounded rate annually.
  • Protection Option 3 (loan protection): Here the Sum Assured reduces each year. The nominee is paid the Sum Assured in case of death of the insured during the policy period.
  • Offers rebate in premium given that you have chosen a higher Sum Assured
  • Smokers, non-smokers and healthy non-smokers have different types of premiums
  • Provides tax benefits under

Aviva Life Shield Plus Term Insurance

  • On the death of the insured during the policy period, the whole Sum Assured is paid to the nominee
  • The premiums can be paid either in Lump Sum annually for the entire term or through single pay
  • Provides tax benefits
  • In case of death of the insured during the policy period, the entire Sum Assured is paid to the nominee
  • Provides tax benefits
  • The premiums paid would be returned on the basis of the tenure selected by the insured given that the insured outlives the policy.

Aviva Extra Cover Term Insurance

  • This plan is essentially a mixture of Aviva Health Secure which offers overage for life and critical illness and Aviva i-Life
  • If the insured dies within the policy period, 100% Sum Assured is paid to the nominee
  • As per the critical illness cover, if the insured is diagnosed, the nominee would be paid the Sum Assured given that insured survives for 30 days following the diagnosis.
  • If you choose a higher Sum Assured, you can avail a rebate in premium.
  • Smokers, non-smokers and healthy non-smokers attract different premiums.
  • Provides tax benefits.