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  • Aviva Corporate Life Plus

    Aviva Life Insurance


    Aviva Corporate Life Plus insurance plan is a group insurance scheme aimed at fulfilling the insurance needs of the corporate sector. Although, the plan can be extended to meet insurance necessities of other relevant groups of individuals as well. The plan offers insurance protection to families of employees in times of sudden unfortunate death, additional cover for accidental death or disability due to accident. The best feature of this Aviva life policy is that the plan requires minimum medical formalities to be completed in order to furnish the insurance amounts.

    Eligibility Criteria for Aviva Corporate Life Plus Plan :

    Listed below are the minimum and maximum entry age required for availing the Aviva Corporate Life Plus Plan.

    Entry Age

    18-69 years

    Key Features of Aviva Corporate Life Plus Plan

    Listed below are some of the key features of Aviva Corporate Life Plus Plan:

    Plan type

    Group insurance plan for individuals working in a corporate

    Plan basis


    Premium paying terms

    Single Premium

    Policy term

    1 year, annually renewable

    Premium payment frequency

    Monthly, quarterly, half-yearly, yearly

    Free-look period

    • Policyholder can return the policy within 15 days from the date of availing it, in case he/she is not fully satisfied with the features or terms and conditions.

    Sum Assured

    • Minimum sum assured is Rs.10,000 per member and Rs.1 Crore per group. However, there is no limit to the maximum sum assured.

    Grace period

    • A 30-day grace period is offered in case the policyholder (organization) is unable to pay the premium.

    Policy revival

    Aviva Corporate Life Plus insurance policy can be revived with full benefits, within 2 years from the date of the first unpaid premium.


    Nomination facility for this insurance policy is available under section 39 of the Insurance Act, 1938

    Sum Assured

    Lump-sum benefit payable at the time of death of the policyholder. The sum assured is a function of the age and policy term.

    Policy coverage

    Death benefits in the event of unfortunate demise of the individual policyholder

    Death Benefits: In case of death of policyholder, sum assured will be paid out to the nominee or beneficiary.

    Maturity Benefit: Purely a group protection plan and hence, no maturity benefit is offered under the Aviva Corporate Life Plus Plan

    Accidental Benefits: In case of death due to accident and in case where DAB Group Rider has been availed, DAB rider sum is payable in addition to the basic sum payable.

    Riders available

    Yes. A few riders can be availed with this group insurance policy by Aviva. These are listed in a separate section in the end.

    Surrender Benefit

    The Aviva Corporate Life Plus plan does not offer any surrender benefit to the insured person.

    Loans against policy

    Aviva does not offer loans against this insurance policy.

    Number of individuals in a group

    A minimum of 50 members are required to avail this group insurance policy. However, schemes for less than 50 members can be furnished based on individual health of the members.

    Benefits or Advantages of Aviva Corporate Life Plus Plan

    Listed below are some of the most significant benefits of the Aviva Corporate Life Plus Plan.

    • Assured amount payable to your family in case of unfortunate demise of the policyholder
    • An array of riders to choose from in order to enhance protection and avail benefits
    • Tax benefits as per current taxation rules under the Income Tax Act, 1961 are applicable to the policyholder organization. So premium paid by the corporate house is considered as an expense for tax purposes in the year of premium payment
    • Minimum medical formalities are required to avail this insurance scheme

    How does the Aviva Corporate Life Plus Plan work

    Aviva Corporate Plus is a simple group insurance plan that offers life protection and certain other enhanced protections in case optional riders are availed. The group insurance scheme is offered in the name of the corporate house whose members are covered under the scheme. In the event of sad demise of any group member, the insurance company settles its account with the master policyholder (the corporate house) who in turn settles account with the beneficiary of the deceased.

    Riders available with the Aviva Corporate Life Plus Plan

    Following are the riders that can be optionally availed in addition to the main group insurance policy.

    •  Group Permanent Total Disability (PTD) Rider

      This rider offers additional financial help to customers who suffer permanent physical disability as a result of accident.

    • Group Double Accident Benefit (DAB) Rider

      The DAB rider provides extra cover amount in case the insured person dies as result of meeting with an accident.

    •  Group Critical Illness Rider (New Rider)

      As the name itself suggests, this rider pays out additional sum assured to the insured person in case of diagnosis of a critical illness post which the insured survives for 30 days.

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