The Life Saver Policy of Aviva Life Insurance is an inclusive plan that renders protection as well as long terms savings. Under this policy there are the options available to cover the spouse under the same policy in joint life. This policy also gives fidelity additions on regular premiums. This policy gives increase in value of investment through top up premiums.
The chief features of Life Saver Policy of Aviva Life Insurance are as follows:
- This policy enables the insured to meet the definite long term savings.
- The policy comes with flexibility to invest in Three unit linked fund options.
- If there is any case of death of the life insured then the payment of Life Cover to the family of the insured will be paid with a provision of double the Life Cover.
- If there is any case of Critical illness or permanent disability then the Life Cover or the Sum Assured will be paid directly.
- This policy also offers additional benefits on the maturity of the policy.
- The loyalty additions to be paid are calculated in respect to units pertaining to regular premium.
- The policy is available on single life or jointly with the spouse on first death basis.
- The different charges involved in the policy are fund management charges, premium allocation charges, riders charges, policy administration charges and mortality charge.
- Critical Illness & Permanent Total Disability riders and Accidental Death & Dismemberment Rider are available with this policy.
The regular premium under Life Saver Policy of Aviva Life Insurance policy can be increased or decreased at any anniversary of the policy from the 3rd policy anniversary.
- All the regular premiums should be paid.
- The minimum decrease / increase in annual premium are Rs. 1000.
- The decreased annual premium should not be less than the minimum annual premium.
The significant increase / decrease in Sum Assured suit the maximum and minimum limits as stated in the plan. The corresponding increase / decrease in Rider Sum Assured are subject to the limitations stated in the plan.
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Tags: aviva life insurance, Critical illness, Life Saver Policy