Aviva i-Life Total Insurance Plan and Policy
Aviva i-Life Total Insurance Plan and Policy - At Aviva Life Insurance, we understand that and give you more than just a basic life insurance. Aviva i-Life Total is a comprehensive life insurance plan with wide range of cover options and choices to give you flexibility to choose. For goals and dreams so close to your heart, we believe your insurance should be closest to how you want it.
Key Features - Aviva i-Life Total Insurance Plan and Policy:
- Comprehensive protection at affordable cost
- Customize your plan with choice of cover:
- Protect: Death cover with inbuilt terminal illness benefit
- Protect Plus: Double the Sum Assured paid out on accidental death
- Protect Assured: Sum assured on death or 120% of total premiums paid on survival till maturity
- Protect Income: Monthly Income for the family in case of death
- Option for additional protection against critical illness and permanent total disability with Aviva Critical Illness & Disability rider- Non Linked Rider
- Option to increase the amount of cover when responsibilities increase, once during the policy term under option ‘Protect’ and ‘Protect Plus’
Please note that the Terminal Illness is available only under the “Protect” option.
Eligibility Details - Aviva i-Life Total Insurance Plan and Policy:
Entry Age
Min: 18 years
Max: 65 years for Protect , Protect plus and Protect Income Options
60 years for Protect Assured Option
Maximum Maturity Age
75 years last birthday (without Aviva Critical Illness and Disability Rider-Non linked Rider)
70 years last birthday (with Aviva Critical Illness & Disability Rider -Non linked Rider)
Premium
Min: Rs. 3525 (excluding discounts, taxes & extra premium, if any)
Max: Depends on the Age, Term, Option & Sum Assured chosen
Policy Term (PT) & Premium Payment Term (PPT)
Options |
Min Policy Term |
Max Policy Term |
Premium Payment Term |
Protect |
10 Years |
57 Years |
Equal to Policy Term |
Protect Plus |
10 Years |
57 Years |
|
Protect Assured |
15 Years |
30 years |
|
Protect Income |
10 Years |
57 Years |
Half of the policy term, rounded down to the last integer. |
Example: for 15 years policy term, premium payment term of 7.5 yrs will be taken as 7 years |
Sum Assured - Aviva i-Life Total Insurance Plan and Policy:
Options |
Min Sum Assured |
Max Sum Assured# |
Protect |
50 Lacs |
No Limit |
Protect Assured |
50 Lacs |
No Limit |
Protect Income* |
50 Lacs |
No Limit |
Protect Plus |
50 Lacs |
Rs. 1,00,00,000 (per life) |
#Subject to Board approved underwriting policy
*Sum Assured for Protect Income = Regular Monthly Income (RMI) x 12x Policy Term
Premium frequency
Monthly, Quarterly, Half yearly & Yearly
Change of premium payment frequency is allowed at any policy anniversary
Death Benefit - Aviva i-Life Total Insurance Plan and Policy:
1: Protect
- This option provides life cover along with in-built Terminal Illness benefit
- Sum Assured is payable on death of the Life Insured
- In case of terminal illness, an immediate payout is made to Life Insured
- The payout is 50% of the Sum Assured, subject to maximum of Rs. 1 crore per life.
- Balance amount of Sum Assured is payable on death of the insured
- All future premiums are waived after the claim is paid for Terminal Illness
2: Protect Plus
- This option provides life cover with additional coverage for accidental death
- In case of non-accidental death, 100% Sum Assured is paid to the nominee
- In case of death due to an accident, an additional 100% of the Sum Assured is paid to the nominee
3: Protect Assured
- This option provides life cover as well as maturity benefit on survival till maturity
- Sum Assured is payable on death of the Life Insured
- On survival of Life Insured till the end of the policy term, 120% of the basic sum of premiums paid (excluding extra premium & taxes, if any) is paid to the Life Insured
4: Protect Income
- This option provides a regular monthly income to the nominee on death of the Life Insured
-
Policyholder need to opt for a Regular Monthly Income (RMI) amount at inception of the policy that should be paid to the nominee. This amount increases by 5% every year (compounding annually). The maximum RMI Amount payable at any point shall be 3 times of initial RMI amount.
- The income payout starts from the 1st day of month immediately following death of insured and continues for the outstanding policy term, i.e. till the original maturity date of the policy.
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