Aviva I Life Term Plan



Aviva i Life Term Insurance Plan


Aviva i Life is a pure protection plan which is available for online purchase without any agent intervention. Pure Term Plans have Death Benefit if the life insured dies within the policy tenure and no Maturity Benefit if he survives the entire term. It is a vanilla term plan with no fringes attached. 


Compare Term Plans 


Key Features of Aviva i Life Term Plan


  • It is a pure Term Insurance Policy with Death Benefit only and no Maturity Benefit.
  • Exclusively available on the internet for an online purchase and only available in  select cities
  • An additional rebate for female lives of 5% on the tabular premium rates for male lives
  • There is a rebate for large Sum Assured


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Benefits you get from Aviva i Life Term Plan


Death Benefit – In case of death of the life insured, the nominee gets the sum assured


Maturity Benefit – There are no maturity benefits under this plan as it is a pure protection plan.


Income Tax Benefit - Life Insurance premiums paid up to Rs.1,00,000 are allowed as a deduction from the taxable income each year under section 80C



Eligibility conditions and other restrictions in Aviva i Life Term Plan





Sum Assured (in Rs.)


No Limit

Policy Term (in years)



Premium Payment Term (in years)

Equal to policy term

Equal to policy term

Entry Age of Policyholder



Age at Maturity



Single premium (in Rs.)



Payment modes

Yearly, Half-Yearly



Sample illustration of premium amount in iLife Term Plan


The below illustration is for a healthy Male (non-tobacco user) opting for a Sum Assured = Rs. 50 lakhs and Policy Term = 25 years


 Aviva iLife Term Insurance Sample Premiums



Additional Features and Benefits of iLife Term Plan


Riders – No riders are available in this policy



What happens if?


You stop paying the premium - If the policy holder stops paying the premium, then all benefits of the policy will cease after the expiry of the grace period. It can however be re-instated the policy within 2 years of lapsation by paying up all due premiums with interest.


You want to surrender the policy – There are no surrender benefits under this term plan. No paid Up Value is acquired under this plan.


You want a loan against your policy – Loan facility is also not available under this policy.



Alternate term plans from different insurance companies

iProtect from ICICI Prudential

iTerm Plan from Aegon Religare

Met Protect from MetLife

IndiaFirst Anytime Plan



Other term insurance plans from AVIVA Life Insurance

Aviva Life Shield Platinum

Aviva Life Shield

Aviva Life Shield Plus

Aviva Life Shield Advantage

~ By Deepak Yohannan
Note: This is a statement of facts based on the information collected from the Aviva I Life Term Plan brochure and insurance company's website. It should not be construed as a Critical or Favourable Aviva I Life Term Plan Review, Analysis or Recommendation.
Insurance is a subject matter of the solicitation.

Leave a Comment

maturity benefit is only premiums paid and bonus, i learnt from someone that it also pays the sum assured amount

By Nishant Sheth on Dec 10, 2013 Reply

Dear Nishant, what you have heard is incorrect. Premiums paid + Bonus is what you will get on maturity.

Replied By Deepak Yohannan (MIC Staff) on Dec 11, 2013 Reply

This is a very good plan for high earnings people.

By Rakesh Chauhan on Dec 17, 2011 Reply

buy online

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