Aviva Wealth Builder Plan

About Aviva Wealth Builder Plan

The Aviva Wealth Builder plan is a non-linked, non-participating insurance plan. The plan helps you build a large corpus to fulfil your dreams. To make this possible, the plan guarantees double the amount of total premiums paid at the time of maturity. The plan offers you life cover for the entire policy term, thereby protecting your family from uncertainties. In addition to this, the plan also provides tax benefits.

Let’s understand this plan in brief before getting into its details:

How does this Plan work?

Under the Aviva Wealth Builder plan, an individual chooses to pay premiums for a premium paying term (single or 5 or 10 years) of a fixed policy term (13, 15, or 17 years respectively). After the policy term is over, on maturity, the insured receives the maturity benefit. In the event of the unfortunate death of the policyholder during the policy term, his/her beneficiary receives the death benefit.

Now, let’s understand the further actions of this plan with the help of various benefits offered with this plan:

• Death Benefit: In case of the untimely demise of the policyholder during the policy term, the death benefit will be paid. The death benefit is the lump sum amount that is paid on the death of the policyholder. The policy shall be terminated once the death benefit has been paid. The death benefit will be equal to the sum assured.
• Maturity Benefit: In addition to the assured annual income pay-outs, if the policyholder survives till the end of the policy term, provided all due premiums have been paid, then s/he will receive the sum assured (double of the sum of premiums paid) as the maturity benefit.

Note: The plan does not offer any optional riders.

Why should you buy Aviva Wealth Builder?

Besides the benefits mentioned earlier, here are some other features of the Aviva Wealth Builder plan:

• Simple policy with no hassles or complex calculations
• The premiums paid under the Aviva Wealth Builder plan are tax exempt under Section 80(C) and maturity amount is tax free under Section 10(10D)
• The plan proves to be ideal to fulfil future goals

Who should buy Aviva Wealth Builder?

Here are some pointers for those looking to purchase the Aviva Wealth Builder:

• The age criteria to purchase this plan is from 5 to 50 years
• Men who are sole earning members and are looking for an additional source of income will find this non-complex plan ideal to safeguard their family’s future needs
• Individuals who want income tax benefits

Claim Process

Know Claim Process of Aviva Wealth Builder Plan

Claim Process