Life Insurance

Aviva Life Insurance I-Term Smart Plan

aviva i-term smart

Life is full of uncertainties, and mishap can occur any time at anyplace. The primary apprehension under such condition is regarding the survival of the dependents. There are several expenses of the dependents, such as education of children, marriage of children, annual living expense, healthcare expense, house rent, etc. which has to be fulfilled anyhow. Even when both partners are working, meeting the entire needs by one would be difficult. An insurance plan helps in securing the future of near and dear one.

Market is flooded with numerous life insurance plans to serve the needs of the people. But choosing an appropriate plan is not easy as all of them appear to be attractive at a glance. The task of choosing the suitable insurance plan requires a lot of extensive research so that the plan matches with the needs of the person. Only plans such as Aegon Life Insurance can suit every budget and every situation.

Why to Choose Aviva Life Insurance?

Aviva is a leading name in the arena of insurance sector. It’s headquarter is located in London, United Kingdom.It is well known for its quality services such as tax benefits, immediate payment, low premium, high coverage and facility of raising the assured amount. The Aviva is trusted by over 4.5 lakh people in India. It is catering 31 million customers around sixteen countries of the world. Recently the company has launched a new feather in its cap, ‘Aviva i-Term Smart’ which is an online insurance plan offering insurance with life cover along with protection against serious illness and critical disability. It offers hassle free purchasing and maintenance of the plan.

Benefits of Aviva i-Term Smart

  • The plan offers payment of lump sum amount (full Base Assured Amount, provided all the premium has been paid till the date of the death) to the nominees at the unfortunate incidence of death of the insured person.
  • The premium is as low as, i.e. Rs.17 per day. The low premium helps in making it suit every pocket. But low premium doesn’t mean low coverage as at such a low coverage the assured amount can even go up to 1 crore depending upon the type of plan selected.
  • Along with it, an optional rider is also offered viz., Aviva Critical Illness & Disability Rider-Non Linked Rider. Here, the person can also opt for extra protection cover against sixteen serious illness and permanent disability because of accident or illness.
  • For rider plan, in case of critical illness, hospital bill in not required (terms and condition applies).
  • For rider plan, the payment will be made immediately when any case of critical illness is diagnosed.
  • The person can also enjoy the tax benefits on the insurance premium.
  • At the time of renewal of the policy, the premium payment frequency can be altered on request.
  • The policy can be purchased while sitting in comforts of home at any time; hence it helps in saving time.
  • The facility of term plan calculator can also be availed online as in case of aegon life insurance.

Features of Aviva i-Term Smart

  • Minimum premium amount is 3,861.
  • The policy can be opted at the age of 18-65 years.
  • The maximum maturity age without rider is 80 years and with rider is 70 years.
  • The person can also chose for payment schedule, viz. monthly, half yearly or yearly as per convenience.
  • The assured amount can range between 75 lakh to 25 crore.
  • As the responsibilities and liabilities are likely to increase all of a sudden, financial burden also increases. The plan offers onetime opportunity raise the policy amount upto Rs 25 lakh without the need of any medical examination (subject to terms and condition):
    • The plan can be raised within six month of marriage, legal adoption, child birth, opting for house loan.
    • The policy can be raised at the 5th anniversary of the policy by giving 30 days prior notice. Such benefits are offered by only plans as aegon life insurance.
  • The premium amount for base sum assured is calculated based on the age of the applicant at time of application and outstanding policy term.

Also Read: Aviva Life Online Term Plan

3 Simple Steps to Buy Aviva i-Term Smart

1st Step: Select the desired protection level (Base Sum Assured) which can secure the future of dependents.

2nd Step: Selecting the frequency of the Premium (i.e. Monthly, Half yearly and Yearly)

3rd Step:Calculating the payable amount of premium by consulting with the Financial Planning Advisor of the company.

It is very well said saying that, “An apple a day keeps doctor away,” eating apple can keep the illness at a distance. But there can be many reasons for illness and death. Securing the future of loved ones is the primary concern in such a scenario. Buying an apt insurance plan is a wise decision but it should be done after comparing and contrasting various plans available in the market. Selecting the appropriate plan can only keep the worries at side, as future of the loved one is in safe hands.

About Ajeet Sharma

My Name is Ajeet Sharma Financial Blogger & Founder of Financegab.com. We are a personal finance blog dedicated to personal finance & financial planners. The main aim of this blog is to help people to informed financial decisions.
View all posts by Ajeet Sharma →

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