Aviva Wealth Builder Plan

What is the Plan all About?

Aviva Wealth Builder is a non-linked & non-participating insurance plan that helps achieve you/your family’s dreams. This plan pays double the amount of total premium at maturity, not only this; it also provides life cover, so your family is secured even when you are not there.

What are the Key Features?

Guaranteed payout at the time of maturity
Double of the premiums paid at maturity
Guaranteed payout on death of the insured
Flexibility to choose premium paying term & policy term
Get tax benefits

What are the Plan Benefits?

Death Benefit

In the event of death of the life insured during the policy term, the sum assured is payable to the nominee.

Maturity Benefit

Sum Assured (double of the total premiums paid) is payable at maturity of the policy, provided insured survives till maturity and all due premiums are paid.

Loan Benefit

Loan is not available under this policy.

Surrender Value

The Surrender Value payable is higher of Special Surrender Value or Guaranteed Surrender Value. For single premium policy, surrender value is payable anytime during the policy term. For regular premium policy, surrender value is available after payment of all due premiums for at least 2 full policy years.

Tax Benefit

Premiums paid under section 80C & the policy benefits payable under the policy are eligible for tax benefit under section 10 (10D) of the Income Tax Act, 1961.

Who can Buy the Plan?

Factor	Minimum	Maximum
Age (as on last birthday)	5 Years	50 Years
Age at Maturity	18 Years (policy Term-13 Years), 20 Years (policy Term-15 Years), 22 Years (policy Term-17 Years)	63 Years (policy Term-13 Years), 65 Years (policy Term-15 Years), 67 Years (policy Term-17 Years)
Policy Tenure	13/15 Years	17 Years
Premium Paying Term	Single Premium (policy Term-13 Years), 5 Years Pay (policy Term-15 Years), 10 Years Pay (policy Term-17 Years)	-
Premium Paying Mode	Single & Annual	-
Premium Amount	For Single Premium- Rs 1.5 Lacs, For Regular Premium- Rs 50,000 (annually)	Rs 1 Crore (per Life)
Sum Assured	For Single PPT- Rs 3 Lacs, For 5 Years PPT- Rs 5 Lacs, For 10 Years PPT- Rs 10 Lacs	For Single PPT- Rs 2 Crores, For 5 Years PPT- Rs 10 Crores, For 10 Years PPT- Rs 20 Crores
Freelook Period	15 Days/30 Days (for Distance Marketing Channel) From The Receipt Of The Policy	-
Grace Period	30 Days	-
Plan Type	Offline	-

Is any Rider Available with this Plan?

No rider(s) is available under this plan.

How the Plan Works?

Mr. Bharat is a salaried professional and at 35 years of age, he opts for Aviva Wealth Builder with policy term of 15 years, paying annual premium of Rs 5 Lacs plus taxes for 5 years.

Case I: If Mr. Bharat survives till the end of the policy term, the maturity benefits payable are as shown below.

Aviva wealth builder