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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 Lifeline
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Plan Nature
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ULIP
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Plan Category
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Whole Life
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UIN No.
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122L058V01
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About Plan
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Aviva life line is a whole life unit-linked insurance cum investment plan. Unlike other plans that cease when you reah mid 60's or 70's this plan cover you for the whole of your life.This plan provides long term protection and investment avenues,and comes with power packed features like systematic transfer plan(STP),Automatic Asset Allocation(AAA) and loyalty Addational -all especially designed for superior investment proceeds.
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Minimum Entry Age
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0
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Maximum Entry Age
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65 years
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Minimum Premium
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Rs 15000
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Minimum Premium Payment Term
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5 Years
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Maximum Premium Payment Term
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Upto age 100
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Minimum ann Premium (For PPT less than & equal to 10 Yrs)
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Rs. 15,000
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Minimum ann Premium (For PPT above 10 Yrs)
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Rs. 1,00,000
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Maximum Premium
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No Limit
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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 total regular premiums paid
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Minimum Sum Assured
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5*Annualised premium
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Maximum Sum Assured
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0.5*( 70 - entry age )*Annualised premium (For entry age less than or equal to 55 Yrs)
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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 take out the fund value in respect of regular premiums plus top-up premiums, if any and terminate the policy.
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Death Benefits
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In case of unfortunate death, your nominee will receive higher of the sum assured (less applicable partial withdrawals) and fund value pertaining to regular premiums. The fund value pertaining to top up premiums, if any will also be paid.In case of death before risk commencement, only the fund value pertaining to regular and top up premiums will be paid (For details refer point 10 in the Annexure).
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Switch Benefit
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You may switch your accumulated funds (partly or fully) between the 6 funds anytime during the policy term. In case of a part switch, the minimum amount switched and balance in the fund should be Rs 5,000. The first 4 unit switches in a policy year are free of charge.
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Partial Withdrawal Benefit
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Partial withdrawals are allowed after 3 policy years and are free of charge. There are 4 withdrawals allowed in a policy year and the minimum withdrawal amount is Rs 5,000.
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Premium Holiday Option
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This product offers Premium Holiday facility provided policy is in force and at least first 5 policy years premiums are paid. With notice of at least 15 days prior to the due date of the premium from which you wish to avail premium holiday , you can opt not to pay your regular premiums for 6 months to 2 years, during which the policy will continue with all benefits. Once the period is over, you can resume premium payment without having to pay the premiums corresponding to the premium holiday. This feature is available multiple times during the premium payment term (For details refer point 4 in the Annexure).
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Surrender Benefit
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You have the option to fully surrender the policy. If surrender is made within the first 3 policy years, the surrender value will be paid after completion of 3 policy years. There are no surrender charges, if more than 3 policy years' premiums are paid.
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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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Accident Death Benefit Rider [122C005V01]
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Comprehensive Health Benefit (CHB) Rider [122C007V01]
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Term Rider [122A010V01]
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Payor Rider [122A011V01]
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Ensure high growth on your investment as the entire premium paid by you every year is invested in the funds chosen by you. Moreover, any lump sum investments made through top up facility also enjoys 100% allocation.
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Stay invested to maximise gain through loyalty additions in the range of 1% - 1.75% of fund value at regular intervals throughout your life. You may withdraw and utilise this excess fund or keep it invested to earn market linked returns.
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Systematic Transfer Plan allows you to enter the equity market slowly at different times and at different levels. This has the effect of averaging out the risks associated with the equity market, thus reducing the overall risk to the policyholder. You may choose STP on a weekly or a monthly basis.
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This feature automatically decreases your exposure to equity and increases exposure to debt, as your age progresses. With AAA, you have the flexibility of leveraging the returns from equity market and booking the profits as your age advances.
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While you are covered throughout your lifetime under this product, you may choose to pay the premium in limited time span. You also have a flexibility to increase the premium payment term at a later stage.
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This product offers you the flexibility to change your regular premium as per your changing financial situations and requirements.
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Access your money when you need through partial withdrawals after 3 olicy years, free of charge.
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Under this plan you are covered for whole life. You may choose to pay premiums till such time or alternatively, may choose, at inception, a limited PPT between 5 years to up to age 100. You also have the flexibility to increase your PPT, if you wish to, at a later stage (For details refer point 2 in the Annexure).
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You have the option to increase or decrease your regular premium from the 4th policy year onwards. The minimum increase / decrease allowed is Rs 1,000. Any change in regular premium will result in a proportionate change in base SA as well as rider SA (For details refer point 3 in the Annexure).
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You have the option to make lump sum investments through top ups anytime, provided all due premiums are paid. There are no premium allocation charges and the entire 100% of top up premium is invested in the selected funds. The Sum Assured does not get impacted by top up premiums. The minimum top up is Rs 1,000 and the total top up amount cannot exceed 25% of the total regular premiums paid till date.
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Balanced Fund (Post 31-July-2006)
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Balanced Fund II (Post 31-Dec-2009)
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Bond Fund (Post 31-July-2006)
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Bond Fund II (Post 31-Dec-2009)
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Enhancer Fund (Post 31-July-2006)
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Enhancer Fund II (Post 31-Dec-2009)
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Growth Fund (Post 31-July-2006)
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Growth Fund II (Post 31-Dec-2009)
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Index Fund (Post 31-July-2006)
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Index Fund II (Post 31-Dec-2009)
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Infrastructure Fund (Post 31-Dec-2009)
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Protector Fund (Post 31-July-2006)
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Protector Fund II (Post 31-Dec-2009)
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PSU Fund (Post 31-Dec-2009)
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Particulars
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Range
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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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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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Bond Fund (Post 31-July-2006)
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Debt & Money Market
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0% - 100%
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Bond Fund II (Post 31-Dec-2009)
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Debt & Money Market
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0% - 100%
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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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Enhancer 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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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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Growth Fund II (Post 31-Dec-2009)
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Equity
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0% - 30%
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Debt & Money Markey
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0% - 70%
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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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Index Fund II (Post 31-Dec-2009)
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Dept & Money Market
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0% - 40%
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Infrastructure Fund (Post 31-Dec-2009)
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Cash & Money Market
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0% - 40%
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Equity
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0% - 60%
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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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Balanced Fund (Post 31-July-2006)
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17-May-13
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43.573
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Bond Fund (Post 31-July-2006)
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17-May-13
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16.417
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Enhancer Fund (Post 31-July-2006)
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17-May-13
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12.739
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Growth Fund (Post 31-July-2006)
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17-May-13
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34.492
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Index Fund (Post 31-July-2006)
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17-May-13
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10.414
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Protector Fund (Post 31-July-2006)
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17-May-13
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16.618
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Balanced Fund (Post 31-July-2006)
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Balanced Fund II (Post 31-Dec-2009)
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Bond Fund (Post 31-July-2006)
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Bond Fund II (Post 31-Dec-2009)
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Enhancer Fund (Post 31-July-2006)
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Enhancer Fund II (Post 31-Dec-2009)
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Growth Fund (Post 31-July-2006)
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Growth Fund II (Post 31-Dec-2009)
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Index Fund (Post 31-July-2006)
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Index Fund II (Post 31-Dec-2009)
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Infrastructure Fund (Post 31-Dec-2009)
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Protector Fund (Post 31-July-2006)
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Protector Fund II (Post 31-Dec-2009)
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PSU Fund (Post 31-Dec-2009)
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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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