Aviva Term Plan

Aviva offers a wide range of term plans tailor made to suit the different requirements of different individuals in the society. Each plan offered by the bank has its own set of features and benefits. The bank offers a mix of online and offline term insurance plans. Each plan comes at an affordable cost along with a wide range of benefits.

Types of Aviva Term Insurance Plans:

1. Aviva life Shield Plus
2. Aviva I Life
3. Aviva i-Shield
4. Aviva i-Life Secure
5. Aviva Life Shield Advantage
6. Aviva Life Shield Platinum
7. Aviva Extra cover
8. Aviva Sampoorna Suraksha Plan

Aviva life Shield Plus

Aviva Life Shield Plus is a term policy that offers comprehensive cover at an affordable cost. Listed below are some of the important features of the product.

Aviva Life Shield Advantage

It is term plan that offers return of premium on maturity.

Aviva Life Shield Platinum

This is a unique term insurance policy offered by Aviva that provides three types of benefits along with various other attractive benefits.

Aviva I Life

It is a pure term online insurance plan that can be purchased online. The plan offers rebate in premium if the insured chooses higher ranges of sum assured.

Aviva i-Shield

It is an online term plan that offers the option of premium return on maturity. 110% of the premiums paid are returned to the policyholder on maturity of the policy under this plan.

Aviva i-Life Secure plan

A pure online term insurance plan that offers annual payouts. The plan can be purchased online by lowering premiums.

Aviva Extra cover

Aviva Extra cover is an offline term insurance plan that is offered under Aviva i-Life and another health plan by Aviva. The plan offers insurance along with a critical illness cover.

Aviva Sampoorna Suraksha Plan

It is term insurance plan that guarantees return of premium on maturity of the plan.

Features and benefits of Aviva Term Insurance:

Listed below are the features and benefits of Aviva Term Insurance plans

• Aviva offers different types of term insurance plans
• The plans offer comprehensive coverage
• Flexible payment period
• Offers high amount of sum assured
• The plans come at an affordable cost
• Some of the insurance plans offer a rebate in premium if the insured chooses a higher sum of premium
• Almost all the plans qualify for tax benefits and tax deductions under the Income Tax act, 1961.
• Offers a basket of online and offline plans
• Hassle free application process
• Minimum documentation
• Dedicated team of customer service to take you through the process

How does Aviva term plan work?

One can choose an Aviva Term Plan depending upon the cover they want and the pricing. After choosing a term plan, the insured has to pay for the insurance policy. The premium payment term is equal to the policy term in most of the Aviva Term plans. The nominee nominated by the insured at the time of initiation of the policy will be the beneficiary who receives the death benefit in case of death of the nominee. The insured can also avail tax benefits under this term plan.

Aviva Term Insurance FAQs:

1. Q. Does the bank offer online term plans?

   The bank offers online term plans such as Aviva i-shield term plan, Aviva i-secure plan and Aviva i-Life plan.

2. Q. Do the plans come with tax benefits?

   Yes, the plans qualify for tax benefits under the Income Tax Act, 1961.

3. Q. What is the minimum age required to be eligible for the plan?

   The individual has to be at least of 18 years to be eligible for the plan.

4. Q. How can one apply for the plan online?

   One can either apply for the plan online through the bank’s official website or through a third party financial website.

GST of 18% is applicable on life insurance effective from the 1st of July, 2017