Aviva Life Shield Advantage
Aviva Life Shield Advantage is a term insurance plan which offers return of premium on maturity. The premiums paid by you every year would be returned to you if you survive the term of the policy.
Key Features
High levels of insurance cover for your family
The premiums paid by you are paid back to you at the end of the policy term, if you survive the policy term
Lower premium rates for higher amounts of cover
Benefits
Your nominee would get entire coverage amount (sum assured) in case of death of the policy holder. The sum of all premiums paid by the policyholder would also be paid along with the sum assured.
This plan is a variant of the pure term insurance plan. The premiums paid by you would be returned to you if you survive till the end of the policy term.
Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C. The death benefit your nominee receives from this plan is exempt from tax under section 10(10D)
Accidental Death Benefit and Accidental Permanent Total Disability rider is available with this plan. Please note that this rider is applicable only in case of death or permanent total disability due to an accident occurs.
| Type of Rider | Available with Policy |
| Accidental death benefit | Yes |
| Permanent disability benefit | Yes |
| Waiver of premium benefit | No |
| Critical illness (or dread diseases) benefit | No |
| Increased death benefit / Term rider | No |
| Hospital cash benefit | No |
The amount payable for the riser is over and above the sum assured or base insurance coverag
Eligibility
| Minimum | Maximum | |
| Sum Assured (in Rs.) | 2 lakhs | 50 lakhs |
| Policy Term (in years) | 10 | 30 |
| Premium Payment Term (in years) | Same as Policy Term | |
| Entry Age of Policyholder (in years) | 18 | 55 |
| Age at Maturity (in years) | 28 | 65 |
| Regular annual premium (in Rs.) | 2,400 | No Limit |
| Payment modes | Yearly, Half-Yearly, Quarterly and Monthly | |
