Aviva Group Superannuation Plan is yet another group insurance policy from Aviva Life Insurance that has been designed to offer regular stable income to an employee even after their retirement. Therefore this policy helps the family members of an employee to have a peaceful life after his or her retirement since the individual would be getting regular pension.
Some of the salient features and benefits that this policy offers to its policy holder are as follows:
- This is a type of retirement plan therefore a retired individual after getting retired from his or her office would be eligible to have fixed regular income. Therefore the plan really helps in offering a great life even after the retirement.
- Riders are also available here in Aviva Group Superannuation Plan that can be availed after the payment of some extra premium. Rider offers an extra edge in an existing policy thereby offering extra protection. The riders that are offered here is Group Permanent Total Disability Rider, Group Term Insurance Rider and Group Double Accident Benefit Rider.
- The term for making the payment of premiums annually, half yearly, quarterly and monthly. As a result of this the insured are getting plenty of options for making the payment of premiums. They can choose the one that suits them the best.
- The minimum annual premium for this policy is rupees twelve lakh and there is no limit for maximum payment of premium.
- People who are in the age group of eighteen to sixty nine are eligible to have the Aviva Group Superannuation Plan group insurance policy.
Tax benefits are also available in this policy and that is as per the provisions of the Indian Income Tax Act. In this case Fringe Benefit tax is not payable for the contributions amounting to rupees one lakh for every employee.
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