India's 1st IRDAI Approved Insurance Web Aggregator

Aviva Health Plus

  •  views
  •  views
This plan has been withdrawn by the insurance company and is no longer available for sale.

 

Aviva Health Plus Plan

 

Aviva Health Plus Plan is a Health Insurance Plan from a Life Insurance Company. This is a Traditional Plan without Bonus facility.

 

This is a Health cum Life Insurance Plan for 10 years where the premium needs to be paid only for 5 years. There are only 2 options for premium payment in this plan of Rs 15,000 or Rs 35,000, irrespective of the age at entry.

 

This plan provides for regular hospitalization benefit by way of Daily Cash of Hospitalization. Accidental Death and Disability Benefit is also provided under this plan along with Critical Illness Coverage and Total and Permanent Disability due to sickness. Surgical Cash Benefit is paid for in case of multiple surgeries. Also, a certain Guaranteed Amount is paid as Maturity Benefit when the policy matures. However, if the Life Insured dies within the Policy Tenure, then the entire Sum Assured is paid as Death Benefit, irrespective of any benefits paid earlier.

 

 

Key Features of Aviva Health Plus Plan

 

 

  • This plan is a Health cum Life Insurance Plan
  • There are only 2 options for premium- Rs 15,000 or Rs 35,000, irrespective of the age at entry
  • A Death Benefit of full Sum Assured is paid if the Life Insured dies within the Policy tenure, irrespective of any benefits paid earlier
  • This policy provides for Accidental Death and Disability and Total Permanent Disability due to illness as well
  • A lump sum amount of money is paid as Critical Illness Benefit on diagnosis of any of the 18 Critical Illnesses covered under this plan
  • Cost of 37 Major  Surgeries are also covered under this plan
  • This plan provides for Daily Cash Benefit for every day of Hospitalization

 

 

 

Benefits the policyholder get from Aviva Health Plus Plan

 

Death Benefit – In case of death of the Life Insured within the policy tenure, the full Sum Assured is paid irrespective of any benefits paid earlier and the policy would be terminated.

 

Maturity Benefit – On maturity, a certain Guaranteed Maturity Benefit is paid to the policyholder. The Guaranteed Maturity Benefit is more than all premiums paid till the age of 42 years.

 

Health Benefit – This plan provides for 5 health benefits, listed below

 

 

 

Name of the Health Benefit

Amount of Coverage

Accidental Death and Disability Benefit

10 x Annual Premium payable for maximum 2 accidents

Total and Permanent Sickness Disability

10 x Annual Premium payable only once

Critical Illness Benefit

10 x Annual Premium payable only once

Surgical Cash Benefit

10 x Annual Premium payable for multiple surgeries

Hospital Cash Benefit

Fixed Benefit of Rs 1,750 per day for Hospitalization & Rs 3,500 for ICU upto 180 days for hospitalization for the entire Policy Term & 60 days per Policy Year

 

 

Income Tax Benefit – The premium paid towards Life Insurance Coverage is allowed a deduction under section 80C and the premium paid towards Health Insurance upto Rs. 15,000 are allowed as a deduction from the taxable income each year under section 80D. The limit is Rs 20,000 for Senior Citizen. The Maturity Benefit is tax free under section 10(10)D of the Income Tax Act.

 

 

Eligibility conditions and other restrictions in Aviva Health Plus Plan

 

 

 

Minimum

Maximum

Death Benefit Sum Assured (in Rs.)

Rs 1,50,000 for AP = Rs 15,000

Rs 3,50,000 for AP = Rs 35,000

Policy Term (in years)

10

Premium Payment Term (in years)

5

Entry Age of Policyholder(in years)

18

55

Age at Maturity(in years)

-

65

Premium (in Rs.)

15,000

35,000

Payment modes

Only Annual

 

 

Sample illustration of Aviva Health Plus Plan

 

The below illustration is of the Guaranteed Maturity Benefit for an individual of

Ages 30, 40 and 50 years respectively

Annual Premium of Rs 15,000 and Rs 35,000 respectively

Aviva Health Plus Plan

 

Additional Features and Benefits of Aviva Health Plus Plan

 

Riders – There are no riders available in this policy

 

                                             

What happens if?

 

You stop paying the premium - If the policy holder stops paying the premium, the policy cover and all its benefits will cease.

However, if at least 2 years’ premiums have been paid the policy acquires a Paid Up Value. In that case, the policy continues for the rest of the Policy Term with the reduced coverage and a Paid Up Maturity Benefit is paid on maturity.

 

You want to surrender the policy – This policy can be surrendered is at least 2 years’ Annual Premium has been paid.

Guaranteed Surrender Value = 30% of all premiums paid – 1st year’s premium

This plan also has a Special Surrender Value.

 

You want a loan against the policyholder policy - There is no loan available under this plan.



 

Other Health Insurance Plans from Aviva
Compare Health Plans

Leave a Comment

Health Insurance Calculator
Important: Insurance is the subject matter of solicitation | © 2009-2020 MyInsuranceClub.com