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Insurance Company
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Aviva Life Insurance Company Ltd
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Plan Name
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Aviva Aviva PensionPlus
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Plan Nature
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ULIP
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Plan Category
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Pension Plan
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UIN No.
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122L045V01
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About Plan
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PensionPlusTM is a tax efficient, pension plan that is designed to help you earn a regular income, even after you stop working. Through this plan, you build a fund till you retire which provides you financial security after retirement.
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Minimum Entry Age
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18 Yeara
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Maximum Entry Age
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65 Years
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Minimum Maturity Age
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40 Years
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Maximum Maturity Age
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70 Years
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Minimum Policy Term
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5 Years
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Maximum Policy Term
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Maximum upto vesting age chosen.
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Minimum Premium
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Rs.6000
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Maximum Premium
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No Maximum limit.
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Benefits
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| Particulars | Description |
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Maturity Benefits
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On maturity, you get the fund value (units pertaining to regular premiums/single premium and top up premiums and additional regular premium) to purchase an immediate annuity, at rates prevailing at the time of vesting. You have the choice to:.Take up to one third of the fund value as lump sum and use the balance to purchase an annuity from Aviva..Buy an annuity from any other life insurance company. Aviva will apply no charges for this facility.
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Death Benefits
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In the unfortunate event of your death, your nominee will receive a lump-sum amount as mentioned below:.100% of the value of units pertaining to regular/ single premium..The value of units pertaining to top-up premium(s) and additional regular premium, if any, are paid in addition to the above
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Switch Benefit
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You can switch your accumulated funds from one investment fund to another (either partly or fully). In case of a part switch, the minimum amount switched and the minimum balance in the fund after the switch should be Rs. 5,000. The first 4 switches in a policy year are free of charge.
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Additional Benefits
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Loyalty AdditionsFor all regular premium policies with term of 20 years and above, Aviva provides a loyalty addition as a percentage of units pertaining to regular premiums only. It varies for different policy terms and is payable at maturity only if all due premiums are paid.
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Surrender Benefit
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You can surrender your policy after the completion of the first 3 policy years, provided you have paid more than one-year premium. The surrender value (fund value minus applicable surrender charge) would be paid to you. There is no surrender charge if you have paid more than 4 policy years' premiums.
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Tax Benefits
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| Section | Description |
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SEC 80 C
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Under Section 80 C premiums up to Rs. 100,000 are allowed as deduction from taxable income.
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SEC 80 CCC
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Section 80 CCC allows to individual, tax deduction for amount paid during the financial year out of income chareable to tax, towards specified pension plan. Maximum deduction allowed is Rs. 100,000.
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SEC 10 (10)D
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Maturity and Death Benefits are tax free under section 10 (10) D of the Income Tax Act, 1961.
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SEC 10 (10) A (3)
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Under Section 10 (10) A (iii), any payment received by way of commutation of pension plans is exempt from tax.
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Investment Fund options: 4 Unit Linked funds: Pension Protector, Pension Balanced, Pension Growth and Pension Index Funds.
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PensionPlus is a tax efficient, personal pension unit linked plan that is designed to help you earn a regular income, even after you stop working. Through this plan, you build a fund till you retire which provides you financial security after retirement.
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You have the option to change the allocation proportion of your future premiums to different funds at anytime, up to 2 times in a policy year. The minimum allocation in each selected fund must be 10%
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You have the flexibility of making lump-sum investments through top-up premiums to increase the investment value of your policy provided all the premiums till date are paid. 1) The minimum top-up premium is Rs.1,000. There is no limit on the maximum amount of top-up premium.2) The top-up premiums shall be invested in various investment funds in the same proportion as selected by you for your regular premiums. You also have the option to specify a different allocation proportion for top-up premiums.
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Pension Balanced Fund (Before 30-June-2006)
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Pension Balanced Fund (Post 31-July-2006)
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Pension Balanced Fund II (Post 31-Dec-2009)
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Pension Growth Fund (Before 30-June-2006)
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Pension Growth Fund (Post 31-July-2006)
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Pension Growth Fund II (Post 31-Dec-2009)
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Pension Index Fund (Post 31-July-2006)
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Pension Index Fund II (Post 31-Dec-2009)
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Pension Infrastructure Fund II (Post 31-Dec-2009)
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Pension Protector (Post 31-July-2006)
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Pension Protector Fund II (Post 31-Dec-2009)
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Pension PSU Fund II (Post 31-Dec-2009)
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Pension Secure Fund (Before 30-June-2006)
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Pension Secure Fund (Post 31-July-2006)
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Pension UWP Fund (Before 30-June-2006)
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Pension UWP Fund (Post 31-July-2006)
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Particulars
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Range
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Pension Balanced Fund (Before 30-June-2006)
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Govt & Other Debt Securities
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50% - 90%
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Equity
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0% - 45%
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Cash & Money Market
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0% - 40%
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Pension Balanced Fund (Post 31-July-2006)
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Government & Other Debt Securities
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50% - 90%
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Equity
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0% - 45%
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Cash & Money Market
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0% - 40%
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Pension Balanced Fund II (Post 31-Dec-2009)
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Equity
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0% - 40%
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Debt & Money Market
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0% - 60%
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Pension Growth Fund (Before 30-June-2006)
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Govt & Other Debt Securities
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20% - 60%
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Cash & Money Market
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0% - 40%
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Equties
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20% - 60%
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Pension Growth Fund (Post 31-July-2006)
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Cash & Money Market
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0% - 40%
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Equities
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20% - 60%
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Pension Growth Fund II (Post 31-Dec-2009)
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Equity
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20% - 60%
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Debt & Money Market
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0% - 40%
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Pension Index Fund (Post 31-July-2006)
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Debt & Money Market
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0% - 20%
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Equities
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80% - 100%
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Pension Index Fund II (Post 31-Dec-2009)
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Debt & Money Market
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0% - 20%
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Equity
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80% - 100%
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Pension Infrastructure Fund II (Post 31-Dec-2009)
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Debt & Money Market
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0% - 40%
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Equity
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60% - 100%
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Pension Protector (Post 31-July-2006)
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Debt securities
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60% - 100%
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Money Market
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0% - 40%
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Equities
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0% - 20%
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Pension Protector Fund II (Post 31-Dec-2009)
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Equity
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0% - 20%
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Debt & Money Market
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0% - 80%
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Pension PSU Fund II (Post 31-Dec-2009)
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Cash and Money Market Instruments
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0% - 40%
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Equity
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60% - 100%
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Pension Secure Fund (Before 30-June-2006)
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Govt & Other Debt Securities
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60% - 100%
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Equity
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0% - 20%
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Cash & Money Market
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0% - 40%
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Pension Secure Fund (Post 31-July-2006)
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Government & Other Debt Securities
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60% - 100%
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Equity
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0% - 20%
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Cash & Money Market
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0% - 40%
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Pension UWP Fund (Before 30-June-2006)
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Govt & Other Debt Securities
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70% - 100%
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Equity
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0% - 20%
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Cash & Money Makret
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0% - 40%
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Pension UWP Fund (Post 31-July-2006)
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Government & Other Debt Securities
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70% - 100%
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Equity
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0% - 20%
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Cash & Money Market
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0% - 40%
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Pension Balanced Fund (Before 30-June-2006)
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18-Jun-13
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32.884
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Pension Balanced Fund (Post 31-July-2006)
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18-Jun-13
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32.884
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Pension Growth Fund (Before 30-June-2006)
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18-Jun-13
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20.856
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Pension Growth Fund (Post 31-July-2006)
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18-Jun-13
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20.856
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Pension Index Fund (Post 31-July-2006)
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18-Jun-13
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12.131
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Pension Protector Fund (Post 31-July-2006)
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18-Jun-13
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14.79
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Pension Secure Fund (Before 30-June-2006)
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18-Jun-13
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17.607
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Pension Secure Fund (Post 31-July-2006)
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18-Jun-13
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17.607
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Pension Unitised With Profit (Before 30-June-2006)
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18-Jun-13
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17.013
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Pension Unitised With Profits Fund(Post 31-July-06
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18-Jun-13
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15.868
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Pension Balanced Fund (Before 30-June-2006)
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Pension Balanced Fund (Post 31-July-2006)
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Pension Balanced Fund II (Post 31-Dec-2009)
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Pension Growth Fund (Before 30-June-2006)
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Pension Growth Fund (Post 31-July-2006)
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Pension Growth Fund II (Post 31-Dec-2009)
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Pension Index Fund (Post 31-July-2006)
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Pension Index Fund II (Post 31-Dec-2009)
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Pension Infrastructure Fund II (Post 31-Dec-2009)
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Pension Protector (Post 31-July-2006)
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Pension Protector Fund II (Post 31-Dec-2009)
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Pension PSU Fund II (Post 31-Dec-2009)
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Pension Secure Fund (Before 30-June-2006)
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Pension Secure Fund (Post 31-July-2006)
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Pension UWP Fund (Before 30-June-2006)
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Pension UWP Fund (Post 31-July-2006)
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06-Jul-09
09:12
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Aviva is keen on raising FDI to 49%
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06-Mar-09
12:12
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Aviva reaffirms India investment plans
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03-Mar-09
18:59
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Aviva launches LifeShield Plus
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13-Feb-09
11:00
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Capital infusion plan by middle of 2009 : Aviva CEO
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12-Feb-09
10:26
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Aviva life launches child plan Aviva Young Scholar
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20-Jan-09
12:50
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Private insurers see market share rise to 62%
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16-Dec-08
10:26
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Sales growth to be flat in December quarter: Aviva
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29-Sep-08
10:59
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TR Ramachandran as new CEO of Aviva India Life Insurance.
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24-Jul-08
17:29
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Aviva strengthens product portfolio for traditional plans
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14-Mar-08
15:10
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Aviva and BASIX together launch unique group term plan - Sangh Samruddhi
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