Aviva Young Scholar Secure is a money back plan specifically designed for the welfare of the child. Under this plan, the life to be insured is the parent whereas the receiver of the benefit of the plan is the child. So, should something happen to the insured parent, the child (who is the nominee) will receive all the benefits of the plan.

Features and benefits under this plan

• It is a traditional guaranteed plan where both premiums and returns remain fixed throughout the policy term.
• It comes with 4 plan options to choose from - platinum, diamond, gold and silver.
• Premiums can be paid monthly, half yearly and annually.
• The policy term for this plan is calculated as 21 years - the entry age of the child. So, in case the child is 1 year old, the policy term will be 21-1 i.e. 20 years.
  Going by this logic, the maximum policy term under this plan can be 21 years.
• Premium paying term for this plan has two categories -
  • For child whose age is 0 to 8 years, the premium paying term will be 13 - entry age of the child.
  • For child whose age is 9 to 12 years, the premium paying term will be 5 years.
• At different stages of child education, benefits are paid in the form of tuition fee, college and higher education support.
• Premium waiver benefit - in case of untimely death of the life insured, the remaining premiums will be paid by the insurer so that the child receives the appropriate benefits at the right time.

Eligibility

The age bracket for the policyholder (parent) under this plan is 21 to 50 years. For child (nominee), the age bracket is 0 to 12 years. Also the maximum age of maturity (for the parent) is 71 years.