Aviva Safe Guard | Aviva Life Insurance

The new Aviva Safe Guard is the individual savings plan. This plan does not require much documentation, not even medical documents. Thus it helps to earn tax free returns on the savings and meet the financial requirements.

This plan if Aviva Life Insurance gives option of life cover or sum assured between 5 times or 10 times of the premiums paid annually which is a subject to maximum of Rs 18 Lakhs.

The key features of Aviva Safe Guard are as follows:

The entry age of the plan is 0 year to 50 years.
The available policy terms of the plan are 10, 15, 20, 25 or 30 years.
The minimum maturity age of the policy is 18 years and maximum maturity age if 70 years.
The frequencies of paying the premiums are annual, half yearly, quarterly or monthly.
The annual premium of the policy is Minimum Rs. 12,000; maximum: Rs 360,000 for 5 times cover and Rs.180, 000 for 10 times cover.
The fund options available with Aviva Safe Guard are Bond-II, Protector-II, Balanced-II, Growth-II, Enhancer-II, Infrastructure, PSU, and Index-II Funds
The top up premiums are Minimum – Rs 1,000; Maximum – up to 25 per cent of total regular premiums paid.

The benefits of Aviva Safe Guard are as follows:

As death benefit

If the policy holder dies unfortunately then the Life Cover or the Fund Value either is higher will be paid. If the life insured is less than 7 years then the fund value will only be paid.
If the insured dies in the 1st year of the policy then 50% of the sum assured or the fund value will be paid depending on which one is the higher.

As maturity benefit

On the maturity of the policy the insured will get the lump sum equal to the fund value.

The Policy comes under the tax benefits according to the current laws of the Income Tax Act, 1961. Tax laws are subject to change.

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Tags: aviva life insurance, Aviva Safe Guard

Aviva Safe Guard | Aviva Life Insurance

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