Aviva Life Shield
Life Shield is one of the oldest insurance policies of Aviva which provides high protection at low cost. Avival Life Shield is a pure term insurance plan where the nominee gets a lump sum amount in case of death of the policy holder.
Key Features
Being a term insurance plan, it provides large protection cover at low premiums
§ The coverage amount can be increased on important events in life like marriage or birth of child
§ Lower premium rates for existing policy holders of Aviva Pension Plus
Benefits
The nominee would get entire coverage amount (sum assured) in case of death of the policy holder
Since this is a term insurance plan, there are no maturity benefits
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 maturity amount you receive from this plan are exempt from tax under section 10(10D).
Eligibility
| Minimum | Maximum | |
| Sum Assured (in Rs.) | 5 lakhs | No Limit |
| Policy Term (in years) | 5 | 40 |
| Premium Payment Term (in years) |
Same as Policy Term |
|
| Entry Age of Policyholder (in years) | 18 | 55 |
| Age at Maturity (in years) | 23 | 65 |
| Regular premium (in Rs.) | 2,000 | No Limit |
| Single premium (in Rs.) |
Not Applicable |
|
| Payment modes |
Yearly, Half-Yearly, Quarterly and Monthly |
|
