The Aviva Gramin Suraksha of Aviva Life Insurance is a low cost Insurance Policy that provides safety to the near and dear ones. If the policy holder dies the sum assured will be paid to the family. The premium payments are available for Two years for the entire term of the policy.
The input features of Aviva Gramin Suraksha of Aviva Life Insurance policy are as follows:
- The entry age of the policy is minimum 18 years and maximum 45 years.
- The available policy term is 5 years or 10 years.
- The premium payment term is 2 years.
- The premium payment frequency is annual.
- The amount for the annual premium depends on the life cover.
- If the insured person forgets to pay the 2nd premium in case of 10 years policy term then the policy will not be finished rather the insured person will get full coverage for a time period of 48 months from the due date of the unpaid premium.
- The minimum sum assured for the policy is Rs. 5,000.
The benefits of the Aviva Gramin Suraksha of Aviva Life Insurance policy are as follows:
As death benefit
In case of the death of the policy holder the sum assured will be paid to the family of the insured.
As tax benefit
The policy offers tax benefits under Sections 80C of the Income Tax Act, 1961.
The surrender value of Aviva Gramin Suraksha of Aviva Life Insurance
- If the policy holder does not pay the premiums on the first policy year then the policy will get Special Surrender Value or SSV on the completion of the 1st year.
The surrender value will be equal to 40% of 1- (X/Risk cover period)) x Total Premium Paid.
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Tags: Aviva Gramin Suraksha Plan, aviva life insurance, Insurance, insurance policy