Aviva iGrowth Insurance Plan and Policy - Aviva iGrowth Plan is a Unit Linked Plan which has dual benefits. The plan invests the premiums in the market which provides attractive returns and also provides life insurance coverage for security purposes.
Key Features - Aviva iGrowth Insurance Plan and Policy:
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This is a Unit Linked Plan which is available online without undergoing any medical check-ups. The plan can be purchased by simply submitting a Declaration of Good Health.
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Premiums under the plan are payable for the entire tenure of the plan.
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Loyalty additions are added to the Fund Value in the last three policy years.
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There is an inbuilt accidental death benefit option under the plan which pays an additional Sum Assured in case of accidental death.
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The plan has an option of 3 funds for investments according to the policyholder’s risk appetite.
Eligibility Details - Aviva iGrowth Insurance Plan and Policy:
| PARAMETER | MINIMUM | MAXIMUM |
| AGE OF ENTRY | 18 years | 50 years |
| MATURITY AGE | - | 60 years |
| SUM ASSURED | 10 or 20 times the annual premium subject to a minimum of Rs.3.5 lakhs | Ages 18-40 years – 50 lakhs Ages 41 to 50 years – 30 lakhs |
| PREMIUM PAYMENT TERM | Equal to policy term | |
| POLICY TERM | 10 years | 20 years |
| PAYMENT MODE | Yearly, Half-yearly,Quarterly and Monthly | |
Benefits - Aviva iGrowth Insurance Plan and Policy:
Tax Benefits:
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Tax benefits are subject to conditions specified under section 10(10D) and section 80C of the Income-tax Act, 1961. Tax laws are subject to amendments from time to time. Customer is advised to take an independent view from tax consultant. Service Tax & Cess, as applicable shall be levied over and above premium amount shown here as per applicable tax laws.
Maturity Benefit:
- On maturity, the Fund Value available on the maturity date would be paid to along with the Loyalty Additions accrued under the policy.
Death Benefit:
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In case of death of the insured, higher of the following would be payable as death benefit along with the accrued Loyalty Additions:
1) Sum Assured
2) 105% of the total premiums paid till death
3) Fund Value as on the date of death
The Sum Assured would be reduced by the amount of partial withdrawals made in the preceding 2 years if the policyholder is below 60 years. If the age is above 60 years, partial withdrawals made after attaining 58 years of age would be deducted from the Sum Assured.
If the insured dies due to accident, in addition to the above benefits, an additional Sum Assured would be paid which would be equal to the base
4) Sum Assured subject to a maximum of Rs.50 lakhs.
Aviva Savings Life Insurance Plans and Policy |
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