Aviva Life Shield Advantage

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Aviva Life Shield Advantage Policy


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.


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Key Features of Aviva Life Shield Advantage


§   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


There is a variant of the plan, called Option A, in which the premiums offered will not be returned. The details mentioned in this page are for Option B which is with return of premium. Check out Aviva Life Shield Plus for pure term plan without return of premiums.


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Benefits you get from Aviva Life Shield Advantage


Death Benefit – 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. 


Maturity Benefit – 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.


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. The death benefit your nominee receives from this plan is exempt from tax under section 10(10D)



Eligibility conditions and restrictions in Aviva Life Shield Advantage





Sum Assured (in Rs.)

2 lakhs

50 lakhs

Policy Term (in years)



Premium Payment Term (in years)

Same as Policy Term

Entry Age of Policyholder (in years)



Age at Maturity (in years)



Regular annual premium (in Rs.)


No Limit

Payment modes

Yearly, Half-Yearly, Quarterly and Monthly



Sample illustration of premium amount in Aviva Life Shield Advantage


Coverage Amount (Sum Assured) = Rs.50,00,000

Policy Term = 25 years

Premium Payment Mode = Annual

Aviva Life Shield Advantage


Additional Features and Benefits of Aviva Life Shield Advantage


Riders – Accidental Death Benefit and AccidentalPermanent 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


Permanent disability benefit


Waiver of premium benefit


Critical illness (or dread diseases) benefit


Increased death benefit / Term rider


Hospital cash benefit



The amount payable for the riser is over and above the sum assured or base insurance coverage



Alternate Term plans from different insurance companies


Birla Sun Life Premium Back Term Plan

HDFC Premium Guarantee Plan

ICICI Prudential Life Guard - Return of Premium

ING Term Life Plus



Other Term insurance plans from Aviva Life Insurance


Aviva iLife

Aviva Life Shield

Aviva Life Shield Plus

Aviva Life Shield Platinum

Compare Term Plans

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