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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.

 

COMPARE THIS PLAN WITH OTHER TERM PLANS
    Yes
    No

     

    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)


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    Eligibility conditions and restrictions in Aviva Life Shield Advantage

     

     

    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

     

    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

     

    Additional Features and Benefits of Aviva Life Shield Advantage

    Riders – 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 coverage




     

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