The Aviva Pension Elite, a pension plan designed by Aviva Life Insurance offers a secure future to the policy holder as well as to the family of the policy holder. In case of no income like retirement or even if the death of the policy holder takes place, the Pension Elite act as a income provider. This policy comes with attractive returns which are enhanced by maturity additions and loyalty additions.
The policy gives flexibility to change the maturity date during the term of the policy.
In the event of death of the policy holder the rider will provide the death benefit as soon as possible. This policy also lessens the risk of market volatility with investment options such as STP options or AAA of the 6 unit linked funds.
Features of Aviva Pension Elite policy are as follows:
• The entry age of the policy is 18-70 years on last birthday
• In Term Rider it is 18 – 50 years on last birthday.
• The policy term is of 10 to 30 years.
• The maturity age of the policy is 40 – 80 years as on the last birthday.
• The minimum amount required for the annual premium is Rs 5000 and no maximum limit is there for the premium.
• The premium paying term is equal to the policy term.
• You can pay the premium half yearly, quarterly, monthly or annually.
• The minimum amount for the top up premium is Rs 1000. No maximum limit is there.
• The available fund options are Pension Protector-II, Pension Balanced-II, Pension Growth-II, Pension Index-II, Pension PSU and Pension Infrastructure.
The benefits of Aviva Pension Elite are as follows:
1) As death benefit
In case of the death of the insured person or the policy holder the nominee will be paid the fund value concerning the regular premiums along with the top up premiums. If the rider is opted for then the rider sum assured will also be paid.
2) As tax benefit
Policy offers tax benefits as per prevailing laws of the Income Tax Act, 1961. Tax laws are subject to change.
3) As maturity benefit
The customer gets the option to withdraw 1/3rd of the maturity value as lump sum. The customer also gets the balance to purchase annuity from the same or any other company.
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Tags: aviva life insurance, Pension Plan