This Pension plan is specially designed to secure the life after retirement. This Retirement policy gives attractive returns enhanced by the loyalty additions during the maturity additions and the policy term. It also comes with the opportunity to invest in high growth sectors such as PSU or infrastructure in addition to the index II fund. Aviva Pension Plus minimizes the risk of the market volatility with options of investment like STP or AAA. It also provides the options to minimize the effect of inflation through indexation.
Key features of Aviva Pension Plus policy (Designed by Aviva Life Insurance) are as follows:
• The entry age of the policy is 18 to 75 years on the last birthday.
• The policy term is minimum for 5 years and maximum for 62 years.
• The maturity term is 40 to 80 years as on the last birthday.
• The minimum amount for the annual premiums is Rs 100,000 for policy term between 5-10 years.
• The minimum amount for the annual premiums is Rs 18,000 for policy term between 11-19 years.
• The minimum amount for the annual premiums is Rs 12,000 for policy term more than 20 years.
• The minimum single premium is Rs 100,000.
• There is no limit to the premium.
• The premium can be paid in a singletime, annual, half yearly, quarterly or monthly.
• The fund options of Aviva Pension Plus are Pension Balanced-II, Pension Growth-II, Pension Index-II, Pension PSU, Pension Infrastructure and Pension Protector-II.
• The increase in premium is allowed through indexation with additional regular premium.
Benefits available under Avian Pension Plus are as follows:
A) Loyalty additions
B) Maturity additions
C) Death benefit
D) Maturity benefit
E) Tax benefit
F) Other benefits like increasing the premium of the policy.
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