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Aviva Young Scholar Secure is a non-linked, non-participating insurance plan that is specially designed to provide annual payouts to meet educational expenses for your child. By investing in this plan, you can easily build a corpus that can be used to fulfill child’s educational milestones such as college education or higher education.
4 variants can be opted under this plan.
In the event of death of the life insured during the term of the policy, the death sum assured is payable, which is higher of ten times of annualized premium, maturity sum assured or 105% of the total premiums paid.If opted for Aviva Term Plus Rider, the rider sum assured is also payable.
This policy provides survival and maturity benefits, as applicable. These benefits also vary, depending on the plan option chosen.
No bonus is applicable under this plan, as it is a non-participating insurance plan.
No loan can be availed under this plan.
Surrender Value is higher of Special Surrender Value or Guaranteed Surrender Value. Surrender Value is acquired on payment of at least 2 full policy year’s premium.
You can avail tax benefits under section 80C & 10 (10D) of the Income Tax Act. Tax benefits are applicable, as per the prevailing tax laws.
| Factor | Minimum | Maximum |
| Age (as on last birthday) | 21 Years (0 Year For Child) | 50 Years (12 Years For Child) |
| Age at Maturity | - | 71 Years |
| Policy Tenure | (21 Less Entry Age Of Child) Years | - |
| Premium Paying Term (PPT) | 13 Minus Age Of Child (for Entry Age 0 To 8 Years Of Child) 5 Years (for Entry Age 9 To 12 Years Of Child) | - |
| Premium Paying Mode | Annually, Semi Annually & Monthly | - |
| Premium Amount | Rs 2,200 (monthly), Rs 12,800 (semi Annually), Rs 25,000 (annually) | Rs 87,500 (monthly), Rs 5,12,500 (semi Annually), Rs 10,00,000 (annually) |
| Sum Assured | Higher Of Ten Times Of Annualized Premium, Maturity Sum Assured Or 105% Of The Total Premiums Paid | - |
| Freelook Period | 15 Days From The Receipt Of The Policy | - |
| Grace Period | 30 Days (15 Days For Monthly Mode) | - |
| Plan Type | Online | - |
Aviva Term Plus Rider can be opted under this plan, on payment of additional rider premium.
Rohan at 30 years of age (child 0 years), opts to buy Aviva Young Scholar Secure (Gold Option) with the policy term of 21 years, premium payment term of 13 years, sum assured of Rs 12,00,000 and annual premium of Rs 50,000.
Scenario A: Rohan Survives the Policy Term
In case Rohan survives till maturity of the policy term, he will receive the following amount.
Scenario B: Rohan dies during the Term of the Policy
In the event of Rohan’s death during any policy year, the death sum assured is payable. It is higher of ten times of annualized premium, maturity sum assured or 105% of the total premiums paid.
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