Aviva I Life Plan
Product Info
UIN
Status
Launch Date
Withdrawn Date
Product Overview
Aviva i Life is a pure protection plan which is available for online purchase without any agent intervention. Pure Term Plans will include 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.
Product Description
- It is a pure Term Insurance Policy with Death Benefit only and no Maturity Benefit.
- 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 & BUY SIMILAR PLANS
Unique Features
- Online term plan that covers till the age of 70 years.
Eligibility Criteria
| Eligibility Criteria | ||
| Age at Entry (Min) | 18 years(Age last birthday) | |
| Age at Entry (Max) | 55 years(Age last birthday) | |
| Max age of Maturity | 70 years last birthday | |
| Sum Assured | Minimum | Maximum |
| Rs. 25,000/- | No limit(depends on underwriting) | |
| Premium Payment Frequency | Yearly, Half-Yearly | |
| Policy Term | Minimum: 10 years | Maximum: 35 years |
| Premium Payment Term | Equal to the Policy Term | |
OneInsure App Benefits
Product Benefit
- Maturity Benefit: This is a pure protection plan and hence there is no maturity benefit payable.
- Survival Benefit: No Survival Benefit offered.
- Death Benefit: In the event of an unfortunate death during the policy term, the Sum Assured will be paid to the beneficiary to take care of the future needs.
Other Policy Features
| Feature | Description |
| Payment Frequency | Yearly, Half-Yearly (the modal factors are: 1.0000 & 0.5108 respectively) |
| Alteration between Yearly and Half-Yearly modes of premium payment is allowed at any policy anniversary subject to payment of alteration charge which is Rs.100 at present and subject to review from time to time. | |
| Rebate for Female Lives | An addition, rebate is given to female lives i.e. 5% on the tabular premium rates of male lives. |
| Reinstatement of a Lapsed Policy | If your policy lapses anytime during the term, it can be reinstated within two years from the date of first unpaid premium. |
| To reinstate your policy you will have to provide proof of continued insurability as the Company deems suitable and pay revival fee along with all due premiums. | |
| The revival fee is Rs. 250 which is reviewable subject to IRDA’s approval. |
Add-ons
Not Available
Exclusions
If the Life Insured under the Policy, whether medically sane or insane, commits suicide, within one year of the date of reinstatement of the Policy, the Policy shall be void and the Company will only be liable to pay the higher of 80% of premiums paid or the surrender value.
Claim Process
Know Claim process of Aviva I Life Plan
Company Overview
Aviva Life Insurance is a joint venture between Dabur Invest Corp and Aviva Group. Dabur is one of the India's oldest and most respected business houses. One of the largest producers of traditional healthcare products. Aviva Group is a UK based insurance group, whose association with India dates back to 1834.
BENEFITS OF BUYING FROM ONEINSURE
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