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Aviva Life Shield Plus

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Aviva Life Shield Plus Policy

Aviva Life Shield Plus is a pure term insurance cover which offers high coverage at low premium amounts. No money would be returned to the policyholder in case they survive the term of the policy.

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Key Features of Aviva Life Shield Plus Policy

§  The plan offers high levels of cover at lower premiums.

§  You get discounts on premiums if the sum assured is higher than 25 lakhs

§  Lower premium rates apply for women


COMPARE THIS PLAN WITH OTHER TERM PLANS
    Yes
    No


     

    Benefits you get from Aviva Life Shield Plus Policy

    Death Benefit – The nominee would get entire coverage amount (sum assured) in case of death of the policy holder 

    Maturity Benefit – Since this is a term insurance plan, there are no maturity benefits. You will not receive any amount if you survive the term of the policy

    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 Plus Policy

     

    Minimum

    Maximum

    Sum Assured (in Rs.)

    10 lakhs

    No Limit

    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 premium (in Rs.)

    2,000

    No Limit

    Payment modes

    Yearly, Half-Yearly, Quarterly and Monthly & Single

     

     

    Sample illustration of premium amount in Aviva Life Shield Plus Policy

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

    Policy Term = 25 years

    Premium Payment Mode = Annual
    Aviva Life Shield Plus

     

    Additional Features and Benefits of Aviva Life Shield Plus Policy

    Riders – Accidenal Death Benefit and Aviva Dread Disease Riders are available for regular premium paying policies. The riders are not available with Single Premium Policies. The riders can only be taken at the beginning of the policy but can be cancelled any time and the extra premium amount would be reduced for the remainder of the policy term.

    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

    Yes

    Increased death benefit / Term rider

    No

    Hospital cash benefit

    No

     

    The Aviva Dread Disease rider pays a lumpsum amount if the policy holder suffers from a list ofcritical illness or suffers from Permanent Total Disability due to accident or illness.

    In case of Accidental Death Benefit rider, the nominee of the policy holder would get an additional amount along with the regular sum assured of the policy.



     

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