Aviva Dhan Sanchay Plan, launched in June 2010, is a not participating insurance plan that comes with a combination of the benefits of both a traditional and a ulip plan. It's designed to meet the needs of the individuals having irregular income. How? here the policyholder has the option of depositing the amount of premium at any time s/he wishes into his/her insurance account during the 10 years of policy period. Therefore, the plan comes with a good premium paying term flexibility.

Features and benefits of the plan

• Within the 10 years of the policy term, the policyholder can deposit the amount of premium anytime s/he wishes into his/her insurance account. Hence, the account works like a personal savings account. However, the benefit here is that the policyholder receives comparatively higher returns here.
• At the inception of the policy, the policyholder needs to pay a minimum premium of Rs 2,500 while a maximum of Rs 30,000 can be deposited. For the subsequent premiums, a minimum of Rs 500 to a maximum of Rs 1 lakh is required.
• The minimum sum assured amount under this plan is 10 times the initial premium paid while the maximum is Rs 3 lakhs per life.
• Withdrawals can be made after 3 years from the commencement of the policy. A maximum of 50% of the policyholder deposit account value on the date of the withdrawal is permissible.
• The minimum and maximum age of maturity is 28 years and 60 years respectively.
• In the event of death of the policyholder, life cover plus policyholder deposit account value will be paid to the nominee of the policy.
• On maturity, policyholder deposit account value will be paid.

Eligibility

Individuals falling within the age group of 18 to 50 years are eligible to sign up for this plan.