Robinhood Insurance Broker Private Limited

Product Info

UIN

122N110V01

Status

Active

Launch Date

11/06/2015

Withdrawn Date

Product Overview

Aviva Dhan Vriddhi Plus is a Traditional Limited pay participating plan which helps the customer to save systematically and build a corpus. This plan ensures that you get a guaranteed lump sum equal to the premiums paid by you at maturity and accrued bonuses, ensuring the growth of your savings.

Product Description

  • On maturity, get 100% return of premiums paid as guaranteed benefit along with accrued bonus, if any to meet your long-term goals.
  • Ensure financial security of your loved ones in case of any exigencies.
  • Choose between a premium payment term of 5, 7 or 11 years basis amount of money you require on maturity.

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Unique Features

  • Aviva Dhan Vriddhi Plus is a traditional limited pay endowment plan with bonus facility.
  • 100% return of Premiums paid (excluding any taxes and any extra premium) + vested Simple Reversionary Bonuses + Terminal Bonus (if any).

Eligibility Criteria

Eligibility Criteria
Age at Entry (Min) 18 years(Age last birthday)
Age at Entry (Max) 50 years(Age last birthday)
Max age of Maturity 70 years(Age last birthday)
Premium
Frequency Minimum Maximum
Annual Rs.21,258 Rs. 48,68,500
Notes :- Exclusive of Service tax & extra premium, if any
Mode Available Annually
Premium Paying Term Minimum Sum Assured (Rs) Maximum Sum Assured per life (Rs)
5 years Entry Age 18- 45 Years : 5 lac 5 crore
Entry Age 46- 50 Years : 10 lac
7 years Rs. 5 Lac
11 years Rs. 3 Lac
Premium Payment Term 5 Years, 7 Years and 11 Years
Policy Term 20 Years

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Product Benefit

Benefit

Description

Maturity Benefit

100% return of Premium paid + Vested Simple Reversionary Bonuses + Terminal Bonus

Survival Benefit

NA

Death Benefit

Death Sum Assured + Vested Simple Reversionary Bonus + Terminal Bonus

Death Sum Assured is defined as higher of :-

10 times the Annualized Premium

Sum Assured of the policy

Maturity Sum Assured of the policy

105% of all premium paid as on death

Policy will terminate in case of the Death of the Life Insured.

Other Policy Features

Premium discontinue

If Less than two years premium have been paid

During the first 2 Policy years, if the due premium has not been paid before expiry of the grace period, the policy will lapse without acquiring any paid up value

The lapse policy can be revived within 2 years from the date of first unpaid due premium by paying all due premium along with the interest, at 9% per annual compounded monthly.

If a Lapse policy has not revived within 2 years from the date of first unpaid due premium, 30% of the annual premium will be paid.

Incase of death of the life insured during the revival Period after the expiry of grace period, 100% of the annual premium will be paid & policy will be terminated.

If at least two years premium have been paid

The Policy will become paid-up with reduced benefit.

A paid-up Policy shall not be entitled to any future Simple Reversionary Bonuses.

If a paid-up policy is not revived within the revival period, the policy will continue as paid-up policy with reduced benefits.

The revival of lapsed/paid-up policy revival fee Rs.250/-

Paid-up Death benefit

Death Sum Assured x no.of Premium paid /Total no.of Premium payable

Paid-up Maturity benefit

Sum of Premium* Paid + Vested Simple Reversionary Bonuses

Notes : -* Premium exclude any amount paid as Extra Premium & / or taxes,if any

 

Surrender Value

GSV = ( Premium*paid x GSV factor pertaining to premiums paid ) + Vested Simple Reversionary Bonus x GSV Factor pertaining to Bonuses

Notes : - * Premium exclude any amount paid as Extra Premium & / or taxes,if any

 

Guaranteed Surrender Value Factors (Pertaining to Premium Paid)

Year / Policy Term

5 Year

7 Year

11 Years

2 & 3

30.00%

30.00%

30.00%

4 & 13

50.00%

50.00%

50.00%

14

55.00%

55.00%

55.00%

15

60.00%

60.00%

60.00%

16

70.00%

67.00%

65.00%

17

75.00%

72.00%

70.00%

18

80.00%

77.00%

75.00%

19

85.00%

83.00%

80.00%

20

90.00%

90.00%

90.005

Note-*No surrender is permitted during the first three years of the policy. After the first three policy years, 
the following surrender charge are applicable.

 

Policy Year of Surrender

Guaranteed Surrender Value Factors (Pertaining to Vested Simple Reversionary Bonus)

2

13.00%

3

15.00%

4

17.00%

5

19.00%

6

21.00%

7

23.00%

8

26.00%

9

29.00%

10

33.00%

11

36.00%

12

41.00%

13

46.00%

14

51.00%

15

57.00%

16

64.00%

17

71.00%

18

80.00%

19

89.00%

20

100.00%

 

Special Surrender Value

Paid-up value x Special Surrender Value Factor

Loan

Aviva will not offer loan against this policy

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 Dhan Vriddhi Plus Plan

Claim Process

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.

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Get ₹. 50 Lakhs
on retirment by saving
₹. 3,900/ Month.

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