Aviva Life Insurance Company Limited India is a joint venture between Dabur Invest Corporation and Aviva PLC is UK based Insurance Group. It is one of India’s oldest and respected insurance companies to fulfill policyholder certain needs. The main purpose of Aviva Company is to give simple and useful policies that achieve customer life goals. The company has a 300+ year legacy, 34 million customers, and 100+ branches across India, and a presence in the global market too. The cost of Aviva Life insurance varies depending on the type of policy that you choose to buy.
Aviva Life Insurance Company India Ltd is the first company to start unit-linked and brought together unitized with profit plans. It leads along with child plans made the Aviva market shares more profitable. The Aviva life insurance India insurance solutions protect policyholders’ future with a wide range of insurance products to prepare for life challenges and opportunities. Aviva life insurance customer service of the company provides online premium payment, edit or view policy details, etc. And also purchase protection, savings & health insurance plans from the comfort of your own with Aviva life insurance online plans.
These plans cover you against all sorts of risks; every family's need in their life is to get happy life throughout their life span to secure and financial stability from younger ones who are earning. With life insurance, you can get the best life insurance plans from Aviva India Life Insurance Company and also get different plans such as Child plans, Term Plans, Savings plans, retirement plans, and group plans, etc. Before knowing the plans details let's know the what is Aviva life insurance highlights.
Aviva Life Insurance Highlights
| Claim Settlement Ratio |
98.01% |
| Inception |
2002 |
| Branches |
90+ |
| Customers |
30 millions |
| Death Benefit Paid For |
790 Policies |
| Solvency Ratio |
2.89 |
| Annual Premium Income |
Rs.217.9 Crores |
Aviva Life Insurance Benefits
- No Medical Checkup: It is not required that the policyholder needs to take a medical check-up before taking the Aviva life insurance policy.
- Tax Benefit: According to sections 80c and 10(10d) of tax benefits eligible for a premium paid for Aviva life insurance and received benefits through regular payment of premiums.
- Coverage: Coverage of life cover till 99 years at affordable premiums when your family is not around will cover up the financial security to you.
- Covid-19: Aviva Life Insurance Company covers covid-19 bills and expenses raised on that period.
- Claim Settlement ratio: Aviva life insurance plans offer the best returns by investing premium payments of customers in the market investment and give you protection.
- Wealth Creation: The cost of insurance plans available at affordable costs at low premium makes them the most preferred insurance plan in India.
Aviva Life Insurance Plans:
- Term Insurance Plans
- Retirement Plans
- Child Plans
- Savings Plans
- Group Plans
1.) Aviva Term Life Insurance Plans:
Aviva life insurance term plan is the most traditional form of life insurance. It is an affordable term insurance plan to provide comprehensive protection and financial safety to your family in your absence. It also covers a higher amount of premium.
i. Aviva Jana Suraksha:
This plan is to provide financial security for your children through low-cost life cover to protect your family, give a lump sum amount in case of your death during the term policy.
Benefits:
- Entry age: 18 to 45 years
- Maximum age: 50/55 years
- Policy term: 5/10 years
- Premium payment: single, annually, half-yearly, quarterly or monthly
- Sum Insured: 25, 000 to 50, 000
- Life covers starting as low as Rs. 25,000
- Double the cover in case of accidental death
- Single or regular pay options
ii. Aviva Life Shield Advantage:
This plan protects your family with financial security in your absence and gets your premium back, return of premiums paid at maturity with affordable cost. As growing older in time build a family it will become the most important in the whole world, family’s health and safety is the first priority. However, having a term insurance plan helps your family financially secure life when you are no longer around to take care of them.
Benefits:
- Entry age: 30 years
- Maximum age: 60 years
- Policy term: 5/10 years
- Premium payment: single, annually, half-yearly, quarterly or monthly
- Sum Insured: Rs. 50 lacs
- Life covers starting as low as Rs. 16,200
- Coverage against disability
- Tax benefits
iii. Aviva Life Shield Premium:
This plan is to protect your family financially in your absence the term insurance plan that offers security to your family to insure yourself with Aviva Life Shield Premium gives you the flexibility to choose to increase or decrease life cover, claim payout with a lump sum amount, and cover additional coverage against accidental death and waiver of premiums in case of permanent total disability due to an accident.
Benefits:
- Entry age: 18 years
- Maximum age: 80 years
- Death benefit: sum assured as on date of death
- Waiver of premium: total permanent disability due to an accident and maximum cover amount is Rs. 1 crore per life.
- Coverage against disability
- Accidental Death cover: This rider helps you meet with an accident during the policy term.
- Sum assured: Rs. 50 lacs.
- Tax benefits: The premiums paid through this plan are eligible for tax benefits under sections 80c and 10(10) D.
iv. Aviva Saral Jeevan Bima:
It is a term insurance plan which offers a fixed amount in case of an unfortunate event to provide financial security for your loved ones. Aviva Saral Jeevan Bima Plan is a standard, individual term life insurance policy that offers a minimum sum assured and maximum sum assured.
Benefits:
- Entry age: 18 years
- Maximum age: 80 years
- Lapsed policies: sum assured as on date of death for regular and single premium.
- Waiver of premium: A lapsed policy can be returned within five years from the date of the first installment of the regular/limited premium period.
- Coverage against disability
- Sum assured Rs. 5 lacs up to 25 lacs
- Policy term: 5 years to 40 years
- Payment premium: monthly, yearly, half-yearly.
- Tax benefits: The premiums paid through this plan are eligible for tax benefits under sections 80c and 10(10) D.
v: Aviva i Life Term Plan
It is a term insurance plan which offers a fixed amount in case of an unfortunate event to provide financial security for your loved ones. It is a non-linked & non-participating life insurance term plan that comes with the option to secure additional coverage against 16 critical illnesses and disabilities at a nominal cost.
2.) Aviva Life Insurance Child Plans:
Aviva Life insurance Child Plans are a mixture of insurance and investment plan to help secure your children’s future. Let your child fulfill their dreams even you are not around them they feel safe in your arms after your demise also; a child insurance plan secures their life without worrying about financial burdens.
Aviva Young Scholar Plan:
Aviva Young Scholar Plan to secure financial obligations of your child’s education. Waiver of future premiums in case of death of a parent, tax benefits on all premiums paid, and definite money back. This plan is a life insurance plan that covers the child against life risk and also makes sure that his/her education is properly capitalized throughout. It offers a lump sum amount paid at the time of death of the parent and future premiums also gets reserved. With-drawl of money facility is also offered.
Benefits:
- Entry age: 1 year
- Annual Premium: 33,000
- Sum Assured: For 12 years Rs. 3,96,000
- Total Amount: Rs. 7,09,500
- Premiums are waived in case of death of the insured parent
- Accumulate Child education funds
- Tax Benefits.
3.) Aviva Life Insurance Saving Plans:
Savings plans are life insurance policies that prepare you to meet unexpected future events, whether they concern you or a loved one. The best savings plans in India offer a high amount of coverage whether you wish to pay for a medical emergency or a happy event like sending your child to a foreign university. There are different savings schemes we offer a wide range of savings plans that provide you with a regular income, high and steady growth, and have multiple policy terms.
i. Aviva Affluence ULIP Plan:
A unit-linked insurance plan which helps you long life happily the maximum out of your finances and pay for a limited payment term. The Linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender/withdraw the invested money in linked Insurance Products completely or partially till the end of the fifth year.
Benefits:
- Entry age: 18 years
- Maximum age: 65 years
- Death benefit: sum assured as on date of death for regular and single premium.
- Lapsed policies: A lapsed policy can be returned within five years from the date of the first installment of the regular/limited premium period.
- Coverage against disability
- Premium: Rs. 1 lacs
- Policy term: 15 years to 30 years
- Payment premium: 7, 10, 15 years
ii. Aviva i-Growth plan:
The Unit-linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender/withdraw the monies invested in Linked Insurance Products completely or partially till the end of the fifth year. To ensure a secure future for ourselves and for our family as well.
- Entry age: 18 years
- Maximum age: 50 years
- Hassle-free purchase
- Flexibility
- Maturity and loyalty benefits
- Premium: Rs. 40, 000 to 5 lacs
- Policy term: 15 years to 30 years
- Payment premium: 10, 15,20 years
iii. Aviva Fortune Plus Plan:
We understand that the first priority of your loved ones is financial security and the need for a healthy corpus for meeting all your goals. Aviva Fortune Plus is a Unit Linked Insurance Plan (ULIP) that can help you with both protecting and earning. This is one of the best investment plans providing a minimum life insurance cover that also offers the opportunity to grow one’s savings by returning the amount paid for charges.
Benefits:
- Entry age: 18 years
- Maximum age: 80 years
- Death benefit: sum assured higher or top-up premiums.
- Maturity benefit: On survival of the life insured till maturity fund value including the return of charges time to time.
- Waiver of premium: In case of death of policyholder all the future premiums will be waived off and shall be funded by the insurer.
- Premium: Rs. 5 lacs
- Accidental Death cover: This rider helps you meet with an accident during the policy term.
- Sum assured: Rs. 50 lacs
- Tax benefits: The premiums paid through this plan are eligible for tax benefits under sections 80c and 10(10) D.
iv. Aviva guaranteed Income Plan:
Aviva recognizes your efforts and hard work to provide your loved ones with a happy life. Aviva guaranteed income plan, a life insurance savings plan that assists you financially by guaranteed returns in regular payouts over 10 years.
Benefits:
- Entry age: 3 to 50 years
- Maximum age: 65 years
- Policy term: 15 years
- Premium payment term: 10 years, based on annually only
- Sum Assured: 10 lacs
v. Aviva New Family Income Builder:
This savings plan protected oriented traditional life insurance plan that assists you financially by guaranteed returns in regular payouts. Get double the premiums paid, guaranteed payout in case of death.
Benefits:
- Entry age: 6 years
- Maximum age: 50 years
- Premium: Rs. 40,000
- Sum Assured: Rs. 1 crore
- Maturity benefits in regular premium pay-outs
vi. Aviva Income Suraksha:
It is a flexible plan that offers guaranteed monthly income. At Aviva, we recognize your efforts and hard work to provide your loved ones with a happy life. It is a savings-oriented insurance plan that assists you financially by returns in the form of regular monthly payouts. These regular payouts are given to your family in case of your absence.
Benefits:
- Entry age: 18 years
- Maximum age: 48 years
- Premium: Rs. 36,000
- Sum Assured: Rs. 14 lacs
- Policy terms: 3, 12 years.
vii. Aviva Dhan Samruddhi:
A traditional life insurance plan that gives money back every 5 years to meet short and long-term needs.
Benefits:
- Entry age: 18 years
- Maximum age: 60 years
- Premium: Rs. 60,240
- Sum Assured: Rs. 11 lacs
- Policy terms: 10,15,20 years
4.) Aviva Life Insurance Retirement Plans:
Retirement planning helps you with financial freedom, dignity, and taking responsibility for dependents even after stepping down from your professional role. Retirement Plans work as savings for your second inning as well as an investment into a healthy and happy future. Moreover, the right retirement investment plan plays the role of a financial stress-buster in your golden age but can also take out enough funds to support your children & grandchildren financially.
i. Aviva Annuity Plan:
A retirement plan designed to provide you with lifetime income during your post-retirement years. Specific financial needs with annuity options, the guaranteed amount payable in the policy, and flexible to purchase price at higher annuity values.
Benefits:
- Entry age: 50 years
- Maximum age: 80 years
- Sum assured: Rs. 1 crore
- Annual premium: Rs. 5 lacs
ii. Aviva Next Innings Pension Plan:
A retirement plan that can include the regular income for your post-retirement years and can protect your family in case of death. With so many impending responsibilities, one often fails to take into consideration life after retirement and what that would be like. Planning for retirement is crucial from both a personal and financial perspective. While your golden years might be for kicking back, relaxing, and doing all the things you’ve always wanted to do if you don’t plan well all your best-laid plans might come undone.
Benefits
- Entry age: 18 years
- Maximum age: 50 years
- Hassle-free purchase
- Flexibility
- Maturity and loyalty benefits
- Premium: Rs. 40, 000 to 5 lacs
- Policy term: 15 years to 30 years
- Payment premium : 10, 15,20 years
iii. Aviva Fortune Plus Plan:
We understand that the first priority of your loved ones is financial security and the need for a healthy corpus for meeting all your goals. Aviva Fortune Plus is a Unit Linked Insurance Plan (ULIP) that can help you with both protecting and earning. This is one of the best investment plans providing a minimum life insurance cover that also offers the opportunity to grow one’s savings by returning the amount paid for charges.
Benefits:
- Entry age: 18 years
- Maximum age: 80 years
- Death benefit sum assured higher or top-up premiums.
- Maturity benefit: On survival of the life insured till maturity fund value including the return of charges time to time.
- Waiver of premium: In case of death of policyholder all the future premiums will be waived off and shall be funded by the insurer.
- Premium: Rs. 5 lacs
- Accidental Death cover: This rider helps you meet with an accident during the policy term.
- Sum assured: Rs. 50 lacs.
- Tax benefits: The premiums paid through this plan are eligible for tax benefits under sections 80c and 10(10) D.
5.) Aviva Life Insurance Group Plans:
Aviva Life Insurance group plan is provided by organizations to their employees and group members. Your employees are one of the most important assets of your business. Group life insurance offers financial security to your employees and group members. The group insurance policy offers coverage to your employees based on their annual income.
| Group Plans |
What is it? |
Age of Entry & Maturity age |
Annual Premium |
Benefits |
| Aviva Group Credit Life |
This plan covers loan funding amounts and gives security to your family assets, can earn savings. |
15 to 75 years |
Rs. 5,000 based on yearly, monthly, quarterly, monthly. |
Covers a wide variety of loans, and single/limited payouts. |
| Aviva Group Gratuity Advantage |
This plan is a group ULIP initiated for the corporate sector. It can be customized according to individual needs. |
18 to 74 years |
Rs. 12,000 and based on 5 years max sum assured Rs. 1 crore. |
Helps manage gratuity liability for corporate, 7 funds as per requirement, and administrative support. |
| Aviva Group Life Protect |
It helps customers of financial institutions, banks, cooperative banks, and credit societies by providing home loans, loans against property, education loans, car loans, two-wheeler loans, tractor loans, and personal loans. It also covers credit card and recurring deposit holders. |
18 to 69 years |
Rs 1,000 and policy term 1 to 30 years. |
Flat or reducing cover and life coverage up to 30 years. |
| Aviva Group Term Life |
This plan is to help to provide life cover to employer-employee and affinity groups. |
18 to 79 years |
Rs. 5,000 |
Available for employer-employee and non-employer employee groups, benefits of lump sum amount or monthly income. |
| Aviva Corporate Life Plus |
This Plan provides life cover for employees/members of an organization and financially protects their families through minimal medical facilities. |
18 to 69 years |
Based annually, yearly, half-yearly, and monthly. |
Life covers for employees at affordable cost, additional cover for accidental death, and permanent disability. |
| Aviva Corporate Shield Plus |
This plan is to provide employee deposit linked insurance (EDLI), which covers family financial loss arising due to the death of an employee. |
18 to 74 years |
Rs. 3, 60,000 Based annually, yearly, half-yearly, and monthly |
Life covers with minimal formalities without any medical tests. |
| Aviva Credit Assure |
This plan covers the financial crisis that occurred due to the death of the policyholder. |
18 to 69 years |
Rs. 5,000 Based annually, yearly, half-yearly, and monthly. |
Life covers ranging from minimum to maximum and addition to the spouse. |
| Aviva Credit Suraksha |
This plan covers financial security for the members of the unorganized groups and their families. |
18 to 64 years |
Based annually, yearly, half-yearly, and monthly. |
Flat, graded, or loan-linked life cover, and coverage for the spouse of a member. |
| Aviva New Group Leave Encashment Plan |
This plan offers employers a flexible and cost-effective way to fund their leave encashment liability. |
18 to 70 years |
Rs. 1000 |
ULIP with the flexibility to choose from 8 fund options; change to various funds without any charges. |
| Aviva New Traditional Employee Benefit Plan |
This plan is a group employer to an employee to meet fund management needs to make the employee payments. |
18 years |
Rs. 5000 |
A gratuity and leave encashment savings plan, employees covered up to age 74 years. |
How to Buy Aviva Life Insurance Policy Online?
The process of buying an Aviva life insurance policy online has become simple with PolicyBachat. All you need to do is fill out an application form and then make a payment for the premium. The entire process takes less than 15 minutes.
The online Aviva life insurance calculator tool is used to calculate the premium of the Aviva life insurance policy. PolicyBachat offers an online tool Premium Calculator to calculate the premium of your insurance plan. You can calculate the amount of premium payable by entering a few details such as mobile number, name, date of birth, email address, occupation, type of policy, sum assured, gender, state, etc.
The premium paid by the customer is depending on many factors. The Factors affecting the premium are the age of the policyholder, type of policy, sum assured required, etc. The premium calculator tool will reflect the estimated premium amount that the policyholder will have to pay for the cover he/she requires based on these factors. Once you provide all the relevant details and then click on the submit tab, you will receive details regarding your monthly premium.
Following steps to purchase the Aviva life insurance policy online
Step 1:
Visit PolicyBachat official website and then enter the details such as Gender, Annual income from all the sources, Alcohol consumption and tobacco consumption, type of occupation, salary, and Date of Birth. After this, you need to enter your contact details to facilitate a call from our agent.
Step 2:
Now the premium from different insurance companies will be displayed on the screen. You can edit the details such as Coverage, Term, Premium payment method, Mode of claim settlement, etc. Submit the details to get the desired premium. The premium can be changed by changing other factors such as Coverage required, mode of payment, etc.
Step 3:
The next step is to select the best Aviva life insurance policy and then you can calculate your premiums using the Aviva life insurance premium calculator. You can change your premium by adding riders you want. After deciding the premium, you can purchase a policy from PolicyBachat directly.
Aviva Life Insurance Claim Settlement Ratio
Aviva life insurance provides an easy and quick claim settlement process. The insurance company allows you to settle claims in both online as well as offline modes. Aviva Life Insurance ensures complete transparency so that no problems are caused during the claim settlement process. As per the IRDAI report, the claim settlement ratio of Aviva Life Insurance is 97.53%. The customer support claims are settled within 24 hours and get a hassle-free experience.
Aviva Life Insurance Claim Process
Step 1: Claim Intimation:
- In the case of Maturity claims, a policyholder should inform the insurance company regarding the maturity of the policy or survival of the policyholder.
- In case of Death claims, the nominee of the policyholder or the immediate family members can lodge a claim with the insurance company.
The claim intimation can be done online or offline which should contain basic information such as the Name of the Policyholder, Policy number, Date of Maturity, etc. In case of offline intimation, the claim form can be availed from the nearest life insurance branch and duly filled before submission
Step 2: Submission of Documents:
Once the claim intimation is done and the claim intimation number is obtained, the next step is to provide all the relevant documents to the insurance company. It is advisable to submit all the documents in one go to avoid to and fro communication with the insurance company.
Step 3: Claim Settlement:
As per regulation 8 of the IRDA (Policyholder’s Interest) Regulations, 2002, the insurer is required to settle a claim within 30 days of receipt of all the required documents. If the claim is an early claim (a claim which is occurred within 3 years from the date of policy start date) then there would be further investigation by the insurer. This procedure has to be completed within six months from the date of receiving written intimation of the claim. After receiving all the documents the claim is processed and the insurance company releases the funds into the account mentioned in the claim intimation form.
Documents Required to Claim Aviva Life Insurance
| Claim Type |
Documents Required |
| Death Benefit Claim |
- Original Policy Documents
- Duly Filled Claim Form
- ID Proof
- Death Certificate
- Address Proof
- Medical Records
- Medical Attendance Report
- Post Mortem Report/FIR/Punchana
- Bank Account Details
|
| Maturity Benefit Claim |
- Original Policy Documents
- Duly Filled Claim Form
- ID Proof
- Bank Account Details
- Contact Details
- Pan card
|
Exclusions in Aviva Life Insurance
The following are the exclusions under Aviva life insurance plans
- If the insured person commits suicide within one year of buying the policy, such a death would be excluded and the premiums paid would be refunded.
- If the insured person commits suicide within one year of reviving a lapsed policy, the death would be excluded from coverage.
Aviva Life Insurance Renewal
Aviva's life insurance renewal has never been simple as it is now. With the advent of technology, the life insurance renewal process is simple. You can renew your life insurance policy online without worrying about the need to go to the insurance company to pay the premium.
You can pay the renewal premium through any of the following means
- Net banking
- By cash
- By cheque
- Through Credit Card
- Through Debit Card
- By online payment modes
List of Life Insurance Companies:
Aviva Life Insurance FAQs:
How Can I Check Aviva Life Insurance Policy Details With Policy Number?
You can check policy details with Aviva life insurance policy number easily in simple steps
- Step1: Visit the official website of Aviva Life Insurance India
- Step2: Click on the Aviva life insurance Login portal by entering the details such as register email id, mobile number, user id, etc.
- Step3: OTP will receive the registered mobile number
- Step4: After successful login, enter the policy number. You can check the policy details displayed on the screen.
How to Pay Aviva Life Insurance Premium Payment Online?
Aviva Life Insurance online payments can be done in various methods. You can pay Aviva life insurance payment online easily. Every insurance company has multiple payment options to pay premiums online using Net Banking, Credit card, Debit card, UPI wallets, bill pay, etc. you can pay Aviva life insurance premium payment through any of the methods as per your convenience.
How to Get Aviva Life Insurance Premium Receipt?
Getting premium receipt of Aviva life insurance is simple and you can get it without any hassle by applying online. If you’re an existing customer of Policybachat, the Aviva life insurance premium receipt download process is simple and easy. To download a premium receipt online from the website Parivahan or the mParivahan app which is available on the play store. Enter the details of insurance that would be displayed on the app. The premium receipt download option can be viewed on the app. alternatively, by calling Aviva life insurance toll-free number you can get your premium receipt.