The Aviva Life Shield is a low cost protection plan for the security of the family. This plan provides a guaranteed payment of lump sum to the nominee in case of accidental death of the insured within the term of the policy. The customers are paid in favored rates opting for a higher sum assured and also to the policy holders of Aviva Pension Plus Policy Holders. This policy also gives the elasticity to increase the sum assured on the important events of the life like marriage, birth etc.
The chief features of Aviva Life Shield are:
- The entry age for the policy is 18 to 55 years. The maximum age of the policy expiry is 65 years.
- The available policy term is 5 years to 40 years.
- The minimum sum assured is Rs 5 lakhs.
- The minimum annual premium is Rs 2000.
- The premium payment frequencies are yearly, half yearly, quarterly and monthly.
- The customer can increase the sum assured under the policy by up to 50% which is a subject to maximum limit of Rs 10 lakh during the policy term.
- If the policy holder opts for a sum assured of at least Rs 10 lakh, then the insured person will receive the decrease of Rs 0.50 per thousand of the sum assured, on standard premium rates.
The benefits of Aviva Life Shield policy are as follows:
As death benefit
If the Aviva Life Insurance policy holder dies in any accident then the sum assured or the life cover will be paid either to the family or the nominee of the insured person during the policy term.
As tax benefit
Tax benefits under Section 80C of Income Tax Act, 1961. Tax laws are subject to change.
Other benefits
Chosen rates of premium for policy holders with life cover of at least Rs 10 lakh and to the Aviva Pension Plus policy holders.
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