The Aviva Pension Elite plan is specially planned to secure the future f the policy holder as well as the family during the time when there is no income. The period of no income can be any time like retirement plan or even if the death of the policy holder takes place. This policy comes with attractive returns which are better by maturity additions and loyalty additions. The customer also gets the flexibility to change the maturity date during the term of the policy. In case 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 instability with investment options such as STP options or AAA of the 6 unit linked funds.
The key features of Aviva Pension Elite policy are as follows:
- The entry age of the policy is 18-70 years on last birthday and 18 – 50 years on last birthday with Term Rider.
- The available policy term in this plan is 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.
- The premium paying regularity of Aviva Pension Elite policy is annual, half yearly, quarterly and monthly.
- 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 available under Aviva Pension Elite are as follows:
As death benefit
In case of the death of the insured person or the policy holder the nominee will be paid the fund value relating to the regular premiums along with the top up premiums. If the rider is opted for then the rider sum assured will also be paid.
As tax benefit
Policy offers tax benefits as per prevailing laws of the Income Tax Act, 1961. Tax laws are subject to change.
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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