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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 Life Bond 5
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Plan Nature
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ULIP
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Plan Category
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Protection Plan
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UIN No.
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122L025V02
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About Plan
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LifeBond 5TM is an investment plan where you can pay premiums for 3 or 5 years and get returns on your investment with maximum tax benefits. This Unit Linked plan gives the flexibility that you, as a smart investor, seek both at the time of investment and at maturity.
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Minimum Entry Age
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18 years
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Maximum Policy Term
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50 years
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Minimum Policy Term
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10 years
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Minimum Premium
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Rs 25000
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Maximum Premium
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No limit
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Minimum annual Premium
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Rs. 25,000
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Maximum annual Premium
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No limit
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Sum Assured
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5*Annual premium
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Minimum Top up Premium
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Rs. 1,000
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Maximum Top up Premium
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Upto 25% of the total regular premium paid.
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Benefits
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| Particulars | Description |
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Maturity Benefits
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On maturity, you can either take out the value of units pertaining to regular premiums plus top-up premiums, if any and terminate the policy OR opt for a settlement option wherein all or part of the fund value would be paid out to you as structured payouts in accordance with the settlement option then offered by the Company.
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Death Benefits
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In the unfortunate event of the life insured's death the following payments would be made, The higher of the Sum Assured or value of units pertaining to regular premiums as at the date of notification of death) shall be payable toyour nominee. The value of units pertaining to the top-up premiums, if any, would also be payable. The Sum Assured will be reduced by all partial withdrawals made within the last 2 years from the date of death.
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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 should be Rs. 5,000 and the fund value in the fund after the switch should be Rs. 5,000. However, if you wish to switch 100% of the fund to another fund, this condition will not apply. The first 4 switches in a policy year are free of charge.
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Partial Withdrawal Benefit
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You have the flexibility of making partial withdrawals from the regular premium unit account. Any partial withdrawal will first be made from the top-up premium account followed by the regular premium account, if required. If the policy holder is less than 58 years of age then the total amount of partial withdrawals made from the regular premium account cannot exceed 25% of the value of units as at the start of the policy year in which the partial withdrawal is being made. If the policyholder is of 58 years of age or more then this restriction does not apply. Partial withdrawals from top-up premium account can be made after 3 years from the allocation date of that top-up premium. Partial withdrawals from units pertaining to regular premiums can be made after completion of 3 policy years. Only 4 partial withdrawals are allowed in a policy year. The minimum partial withdrawal is Rs. 5,000.
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Surrender Benefit
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The policy will acquire a Surrender Value from the commencement of the fourth policy year provided more than the first six months regular premium has been paid. The surrender value is equal to the value of units pertaining to regular premium(s) less the surrender charge, if any, plus the value of units pertaining to top-up 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 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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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%. Entry Age: 18 to 50 years (last birthday)
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LifeBond 5 is a fixed term investment cum insurance plan where you pay premiums only for 3 or 5 years and get investment returns with maximum tax benefits. This unit-linked plan gives you the flexibility that you, as a smart investor, seek both at the time of investment and at maturity.
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Balanced Fund (Before 30-June-2006)
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Balanced Fund (Post 31-July-2006)
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Enhancer Fund (Post 31-July-2006)
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Growth Fund (Before 30-June-2006)
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Growth Fund (Post 31-July-2006)
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Index Fund (Post 31-July-2006)
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Protector Fund (Post 31-July-2006)
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Secure Fund (Before 30-June-2006)
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Secure Fund (Post 31-July-2006)
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UWP Fund (Post 31-July-2006)
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Particulars
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Range
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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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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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Enhancer Fund (Post 31-July-2006)
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Debt & Money Market
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0% - 40%
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Equities
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60% - 100%
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Growth Fund (Before 30-June-2006)
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Govt & Other Debt Securities
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0% - 50%
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Equity
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30% - 85%
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Cash & Money market
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0% - 40%
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Growth Fund (Post 31-July-2006)
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Government & Other Debt Securities
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0% - 50%
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Equity
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30% - 85%
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Cash & Money Market
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0% - 40%
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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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Protector 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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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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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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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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Balanced Fund (Before 30-June-2006)
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23-May-13
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42.992
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Balanced Fund (Post 31-July-2006)
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23-May-13
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42.992
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Enhancer Fund (Post 31-July-2006)
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23-May-13
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12.329
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Growth Fund (Before 30-June-2006)
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23-May-13
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33.531
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Growth Fund (Post 31-July-2006)
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23-May-13
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33.531
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Index Fund (Post 31-July-2006)
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23-May-13
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10.049
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Secure Fund (Before 30-June-2006)
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23-May-13
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19.146
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Secure Fund (Post 31-July-2006)
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23-May-13
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19.146
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Balanced Fund (Before 30-June-2006)
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Balanced Fund (Post 31-July-2006)
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Enhancer Fund (Post 31-July-2006)
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Growth Fund (Before 30-June-2006)
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Growth Fund (Post 31-July-2006)
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Index Fund (Post 31-July-2006)
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Protector Fund (Post 31-July-2006)
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Secure Fund (Before 30-June-2006)
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Secure Fund (Post 31-July-2006)
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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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