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Aviva i-Life Term Plan

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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. 

 

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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

 

COMPARE THIS PLAN WITH OTHER TERM PLANS
    Yes
    No

    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.1,50,000 are allowed as a deduction from the taxable income each year under section 80C


    HAVE ANY DOUBTS THAT NEED TO BE CLARIFIED?

     

    Eligibility conditions and other restrictions in Aviva i Life Term Plan

     

    Minimum

    Maximum

    Sum Assured (in Rs.)

    25,00,000

    No Limit

    Policy Term (in years)

    10

    35

    Premium Payment Term (in years)

    Equal to policy term

    Equal to policy term

    Entry Age of Policyholder

    18

    55

    Age at Maturity

    -

    70

    Single premium (in Rs.)

    NA

    NA

    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

     

    Plan Details

    Let's Understand The Plan With An Example:
     

    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.



     

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