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.
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 |
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. |
Not Available
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.
Know Claim process of Aviva I Life Plan
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.
Robinhood is known for its user & customer centric approach. We take care of all the phases of insurance, whether you've bought the policy from us or not.