Aviva i-Shield Plan

What is the Plan all About?

People work hard to provide the best possible lifestyle for his family and they always want to ensure their happiness forever. If you are the sole earning member of the family, you want to keep a financial guard for your family, especially when you’re not there to support them. Aviva i-Shield is a protection-oriented online term plan with return of Premium. By buying this plan, you will be protecting your family against financial setbacks that may happen in the event of your untimely demise. This plan also pays 110% of the total premiums paid, in case you survives at the maturity of the plan.

What are the Key Features?

High protection cover at nominal cost

110% of the premiums paid back as survival benefits, guaranteed

Premium rebate on choosing Sum Assured of Rs. 20 Lacs and above.

Free Medical examination at inception of the policy

Convenience of quick and hassle free buying through internet

What are the Plan benefits?

Death Benefit

The amount payable on death is paid higher of any one of the following:

10 times of the annualized Premium
105% of all the Premiums paid (on the date of death)
The amount payable on the maturity of the Policy
Assured Death Benefit

You nominee is entitled to receive the sum assured in case of your untimely death.

If the insured dies within 1st to 10th policy year, assured death benefit is 100% of the sum assured
If the insured dies within 11th to 20th policy year, assured death benefit is 110% of the sum assured
If the insured dies within 21st to 25th policy year, assured death benefit is 120% of the sum assured

Maturity Benefit

110% of the total premiums paid (excluding taxes and additional premiums).

Surrender Benefit

Enjoy surrender benefit, provided this plan is in-force at least 3 full policy years. Surrender Value payable is greater of the Special Surrender Value or Guaranteed Surrender Value.

Special Surrender Value = 110% of Premiums paid * Special Surrender Value (SSV) Factor

Guaranteed Surrender Value = GSV factor * sum of Premiums paid till date.

Who can Buy the Plan?

Feature	Specification
Age (as on last birthday)	Minimum: 18 Years Maximum:55 Years
Age at Maturity	65 Years
Policy Tenure	Minimum: 10 Years Maximum: 25 Years
Sum Assured	Minimum: 15 Lacs Maximum: Rs. 5 crores (in multiples of Rs.25000, subject to underwriting)
Premium Paying Term	Same as policy term Years
Premium Paying Mode	Monthly, Semi Annually & Annually
Maturity Proceeds	If you survive till maturity and pay all due regular Premiums, you will receive 110% of all Premiums paid, excluding taxes and extra Premiums, if any.
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. 31,502	Rs. 38,963	Rs. 53,263
Sum assured = Rs. 50 lacs	Rs. 15,751	Rs.19,482	Rs. 26,632

(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-Shield 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.)