When it comes to life insurance plans, Aviva Life Insurance is one of the leading names in the insurance industry of India. It offers varied range of insurance products such as life cover plans, retirement plans, savings solution, etc. to meet various insurance requirements of customers. It has earned trust and reliability of customers through its fast and effective services at the time of distress. Recently, Aviva Life has introduced a new online term insurance solution, i-Term Smart, to maximize customer satisfaction and comfort.
Aviva Life i-Term Smart Online Insurance Plan
Aviva Life i-term smart is a protection providing insurance instrument. It provides extensive life coverage along with attractive add-on features including critical ailments and disability cover at minimal cost. The plan provides lump sum amount of death benefit to the beneficiary of the deceased policyholder. It not only offers disability rider along with the basic plan but also critical ailment rider against 16 kinds of critical health conditions. Besides, it provides flexible premium payment facility to the policyholders. You can buy i-term smart life insurance plan directly from the online portal of Aviva Life from the comfort of your home.
Important Features of Aviva Life i-Term Smart Insurance Plan
- Minimum age of entry is 18yrs and maximum age is 65yrs.
- Maximum age at the time of maturity:
- Without riders like critical ailments and disability cover is 80yrs.
- With riders like critical ailments and disability cover is 70yrs.
- Minimum amount assured is ₹75lakhs and maximum sum assured is ₹25crores.
- The plan has flexible premium payment frequency – Annual, semi-annual or monthly.
- Minimum amount of premium could be ₹3,861, excluding taxes and other charges.
- Policy tenure and premium payment tenure:
|Age at Entry||Maximum Tenure of Policy with Add-On||Maximum Tenure of Policy without Add-On||Minimum Policy Tenure with Add-On||Minimum Policy Tenure without Add-On|
|Up to 60yrs||70yrs minus the age at the time of entry||80yrs minus the age at the time of entry||10yrs||10yrs|
Benefits of Aviva Lifei-Term Smart Insurance
Nothing could ensure a better financial support at the time of distress than a term insurance plan. You can secure the future of your family with an all-inclusive life insurance policy that guarantees financial safety of your loved ones when you are not there for them. Some of the key benefits offered by Aviva Life i-Term Smart insurance plan are:
Longer Coverage – While most of the insurance providers offer term plans with maximum coverage up to the age of 75yrs, Aviva Life insurance provides longer coverage up to the age of 80yrs with its onlinei-Term Smart policy.
Lower Premium – Aviva Life term plan is designed to provide bigger coverage at affordable cost. For a policy with sum assured ₹1crore, you have to pay only ₹17 per day. I-Term Smart plan can fit everyone’s budget without compromising the insurance cover.
Enhancement of Assured Amount – This term plan of Aviva Life allows you to increase the amount of sum assured in the plan during the tenure of the policy. The policy allows increment of the basic assured sum up to ₹25lakhs while the plan is still in full force.
Add-On Facilities – Apart from the extensive basic insurance coverage, i-Term Smart Aviva Life Insurance plan also offers additional coverage facility. You can get add-on features like critical ailments and disability coverage along with the basic plan. The critical ailments rider protects against 16 critical diseases and disability rider covers disability caused due to accident or illness.
Death Benefits – Term insurance plans are meant for providing financial support to your loved ones when you are no more there for them. Aviva Life i-Term Smart plan pays out the amount of basic sum assured in the policy to the beneficiary of the deceased insured person in the form of death benefit, provided all premiums are duly paid on time and the policy is in full force at the time of death.
Tax Benefits – Just like other term insurance plans, i-Term Smart online plan is also eligible for tax benefits under the norms of Income Tax Act. The amount of money contributes as premium towards this online term plan qualifies tax deduction.
Option to Change the Frequency of Premium Payment – This online term plan of Aviva Life Insurance allows you to customize the frequency of premium payment. Yes, with this plan you have the option to change the payment of premium frequency at the time of renewal of the policy.
Critical Illness Add-On Facility – There is no other insurance plan that can provide you wide ranging life coverage and also critical illness coverage. Aviva Life Insurance Company pays out a lump sum amount of money to the insurance holder once the insured person is diagnosed with any of the listed 16 critical ailments.
Online Facility – You can buy and maintain this comprehensive term plan at the online portal without any hassle.