Aviva i-Life Secure Plan

What is the Plan all About?

Getting a regular stream of income is quite essential to meet the day-to-day expenses of our family. But, who will assure of this regular income, when you’re not there to support them is a key question to ponder upon. Aviva i-Life Secure is a non-participating non-linked online term plan that ensures financial protection of your family. It’s a pure protection plan that provides a regular income for 15 years.

What are the Key Features?

Provides a regular income to the family for 15 years

Provides a lump sum amount to meet the family’s huge financial needs

Special discount on premium rates on choosing sum assured of Rs.1 Crore and above

Hassle-free procedure to buy it online

What are the Plan benefits?

Death Benefit

If all the premiums have been paid in full, your nominee is liable to receive the sum assured which will be higher of one of the following:

105% of all the premiums paid
10 times the annualized premium (excluding taxes and additional premiums)
Sum assured

Income Benefit

Under this, your nominee will enjoy the income benefit as well. This plan provides 10% of the sum assured at the time of claim settlement and 6% of the sum assured is paid on each death anniversary of the insured for 15 years.

Who can Buy the Plan?

Feature	Specification
Age (as on last birthday)	Minimum: 18 Years Maximum:50 Years
Age at Maturity	70 Years
Policy Tenure	Minimum: 10 Years Maximum: 25 Years
Sum Assured	Minimum: 50 Lacs Maximum: Rs.10 crore (subject to underwriting)
Premium Paying Term	Same as policy term Years
Premium Paying Mode	Semi Annually & Annually
Maturity Proceeds	Nil
Plan Type	Online
Grace Period	30 days

Is any Rider Available with this Plan?

There are no riders benefits available with this plan.

Premium Illustration

Sample illustration of the Premium Amount for an individual of age 25, 30 and 35 years, opting for a Life Cover of Rs. 50 lacs or Rs. 1 crore as Sum Assured and 25 years as Policy Tenure.

	25 years	30 years	35 years
Sum assured = Rs. 1 crore	Rs. 5,694	Rs. 6,770	Rs. 9,117
Sum assured = Rs. 50 lacs	Rs3,420	Rs. 3,957	Rs. 5,130

(Note: Premium amount is for a non smoker individual keeping good health conditions at the time of buying this insurance plan)

Is the Plan, eligible for Tax Benefit?

Aviva i-Life Secure is eligible for Tax benefits as stated:

Premiums paid, qualify for tax benefits as per Section 80C of the Income Tax Act.
Death benefit(s) are entitled for tax benefits as per Section 10 (10D) of the Income Tax Act.

(Subject to the provision stated therein.)