Aviva Save Guard Plan
Product Info
UIN
122L054V01
Status
Withdrawn
Launch Date
17/12/2007
Withdrawn Date
30/04/2009
Product Overview
Aviva Save Guard is a nonparticipating unit linked plan that has been specially designed to offer a hassle fee solution to long term saving needs.It offers an investment opportunity as well as life insurance, without requiring the customer to undergo any medical examination.
Product Description
- It is a non-medical plan and offers a maximum sum assured of 18 lakhs.
- Guaranteed addition for every 5 years starting from the 10th year.
- Guaranteed addition paid at maturity, which is a percentage of the 1st year premium and depends on the policy term and 1st year term.
COMPARE & BUY SIMILAR PLANS
Unique Features
- Aviva Savve Guard is a Unit-Linked Endowment Plan.
- It is a non-medical plan and offers a maximum sum assured of 18 lac.
- Product provides loyalty addition:
- Guaranteed addition every 5yrs starting from the 10th yr. This % depends on the 1st yr premium & ranges between 5% to 20% of 1st yr premium.
- Guaranteed addition paid at maturity, which is a % of the 1st yr premium & depends on the policy term & 1st year term. This percentage ranges from 50% to 125%.
Eligibility Criteria
| Eligibilty Criteria | ||
| Entry Age WITHOUT Term Rider | Minimum | Maximum |
| 0 | 50 years (last birthday) | |
| Maturity Age | 18 Years (last birthday) | 70 Years (last birthday) |
| Premium | ||
| Frequency | Minimum | Maximum |
| Annual | Rs. 12,000 | Rs. 3,60,000 |
| Top-up Premium | Rs. 1,000 | Upto 25% of total regular premiums paid |
| Policy Term | 10, 15, 20, 25, 30 | |
| Mode Available | Yearly, Half-Yearly, Quarterly and Monthly | |
| Notes: Grace Period of 30 days is allowed for all Premium frequencies. | ||
OneInsure App Benefits
Store Digitally | Get Premium Reminders | Service and Claim assistances | Empower Nominee
Product Benefit
- Maturity Benefit:- On Maturity, we will pay the Fund Value (Value of units pertaining to Regular Premium & Top-Up Premium,if any) as on Maturity Date Survival Benefit NA.
- Death Benefit:- Within 1st Policy Year: 50% of the Sum Assured or Fund Value whichever is Higher will be paid to the Nominee. After 1st Policy Year: Sum Assured or Fund Value whichever is Higher will be paid to the Nominee.
Other Policy Features
| Loyalty Addition Benefit | ||||||
| Loyality Addition on Maturity | ||||||
| Policy Term ( Years) | If Annualised Premium < Rs. 20,000 | If Annualised Premium > = Rs.20,000 or < 50,000 |
If Annualised Premium > = Rs.50,000 or Rs. 100,000 | If Annualised Premium is Rs. 100,000 or more | ||
| 10 | 50% | 65% | 70% | 80% | ||
| 15 | 60% | 85% | 105% | 115% | ||
| 20 | 60% | 90% | 105% | 120% | ||
| 25 & 30 | 60% | 95% | 125% | 125% | ||
| Notes :- The Unit pertaining to Top-Up Premium, if any, will not qualify for above loyalty addition. | ||||||
| Regular Loyalty Addition at the end of 10th year & every subsequent 5th policy anniversary | ||||||
| If Annualised Premium < Rs. 20,000 | If Annualised Premium > = Rs.20,000 or < 50,000 | If Annualised Premium > = Rs.50,000 or Rs. 100,000 | If Annualised Premium is Rs. 100,000 or more | |||
| 5% | 10% | 15% | 20% | |||
| Investment Funds | ||||||
| Fund Name & Objective | Asset Allocation | Risk Profile | ||||
| Protector Fund | Debt & Money Market Equities |
60 - 100% | Low | |||
| 0 - 40% | ||||||
| 0 - 20% | ||||||
| Balanced Fund | Debt & Money Market Equities |
50 - 90% | Medium | |||
| 0 - 40% | ||||||
| 0 - 45% | ||||||
| Growth Fund | Debt & Money Market Equities |
0 - 50% | High | |||
| 0 - 40% | ||||||
| 30 - 85% | ||||||
| Enhancer Fund | Debt & Money Market Equities |
0 - 40% | High | |||
| 60 - 100% | ||||||
| Index Fund | Debt & Money Market Equities |
0 - 20% | High | |||
Add-ons
Not Available
Charges
| Charges | ||||||
|---|---|---|---|---|---|---|
| Charges ( following charges ,which are levied ) | ||||||
| Premium Allocation Charge | Charged at the time when premium is allocated on the fund. | |||||
| Fund Management Charges | Charged by adjusting the Unit Prices (NAV) on daily basic. | |||||
| Policy Administration | Charged on a monthly basic from your fund. | |||||
| Mortality Charges | Charged on a monthly basic from your fund. | |||||
| Surrender Charge | Charged only if the customer will surrender the policy before maturity. | |||||
| Switching Charges | Charged from fund if you make unit switches more than the free switches allowed. | |||||
| Premium Allocation ( 100% Allocation Rate) | Annual Premium | Allocation Rate | ||||
| If Annualised Regular Premium is less than Rs 20,000 | 94% | |||||
| If Annualised Regular Premium is Rs. 20,000 or more, but less than Rs. 50,000 | 95% | |||||
| If Annualised Regular Premium Is Rs.50,000 ,or more | 96% | |||||
| Fund Management | Fund | Fund Management Charge | ||||
| Index Fund | 0.75 % per annum | |||||
| Protector Fund | 1.00 % per annum | |||||
| Balanced Fund | 1.25 % per annum | |||||
| Growth Fund | 1.50 % per annum | |||||
| Enhancer Fund | 1.75 % per annum | |||||
| Notes :- FMC will be applied on the fund while calculating NAV on a daily basic. It can be increased to a max 2% p.a. | ||||||
| Policy Administration | If Policy term is 10 Years | |||||
| Policy Year | If Annualised Premium is less than Rs. 50,000 | If Annualised Premium is Rs. 50,000 or More | ||||
| Year 1 | 1.10% p.m | 1.00% p.m | ||||
| Year 2 to 3 | 0.20% p.m | 0.15% p.m | ||||
| Year 4 & thereafter | 0.05% p.m | 0.05% p.m | ||||
| If Policy term is 15 , 20 , 25 or more years | ||||||
| Policy Year | If Annualised Premium is less than Rs. 50,000 | If Annualised Premium is Rs. 50,000 or More | ||||
| Year 1 | 1.25% p.m | 1.15% p.m | ||||
| Year 2 to 3 | 0.25% p.m | 0.20% p.m | ||||
| Year 4 & thereafter | 0.05% p.m | 0.05% p.m | ||||
| Mortality Charge | Age | 25yrs | 30yrs | 35yrs | 40yrs | |
| Rs. | 1.539 | 1.58085 | 1.93725 | 2.9025 | ||
| Surrender Charge | ||||||
| If less than one Year Premium has been paid | 100% | |||||
| If exactly one year premium has been paid | 90% | |||||
| If more than one but upto two years premium has been paid | 75% | |||||
| If more than two but upto three years premium has been paid | 50% | |||||
| If more than three but upto four years premium has been paid | 30% | |||||
| If more than four but upto five years premium has been paid | 10% | |||||
| If more than five but upto six years premium has been paid | 5% | |||||
| If more than six but upto seven years premium has been paid | 2% | |||||
| If more than seven but upto eight years premium has been paid | 1% | |||||
| If more than eight years premium has been paid | NIL | |||||
| Switching Charge | There are no charges on the first 4 switches in a policy year. | |||||
| Subsequent switches are charged at 0.5% of amount switched, subject to a maximum of Rs 500 per switch. | ||||||
| Partial Withdrawal | You make upto 4 partial withdrawals in a policy year, with the minimum withdrawal amount being Rs. 5,000. | |||||
| From Fund Value pertaining to Top-Up premiums are allowed after 3 years from the date of payment of the Top-Up premium. | ||||||
Exclusions
If the Life Insured under the Policy, whether medically sane or insane, commits suicide, within one year of the date of issuance of the Policy, the Policy shall be void and the Company will only be liable to pay the premiums paid till date.
Tax Benefits
Tax Benefits will be as per prevailing tax laws. Tax laws are subject to change.
Claim Process
Know claim process of Aviva Save Guard 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.
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