Aviva Term Insurance FAQs

Aviva Life Insurance offers a grace period of 15 days for monthly premium payments and a grace period of 30 days for quarterly, half yearly and yearly premium payments from the date of first unpaid regular premium payment.

If the life assured passes away due to suicide within first 12 months from the date of policy issuance 80% of the total premiums paid will be provided to the ife assured’s family.

Aviva Life Insurance offers 4 affordable term insurance products. These plans offer life cover and financial security to your family in case of your unfortunate demise. Aviva Life Insurance provides robust customer assistance services and provides hassle-free purchasing experience.

Aviva Life Insurance offers a revival period of 5 years from the first date of unpaid regular premium payment.

If you have signed up on the official website of Aviva Life Insurance Company, you have to log in with the policyholder or the life assured ID/ Email ID/Policy Number/ Contact Number, and password to check your claim status. Otherwise, you can also visit their online portal to sign up for the same, and then log in to check your status.

According to the IRDAI regulations, your claim should be decided and settled within 30 working days upon receiving the required documents.

Tax deduction under Section 80C and Section 10(10D) is available under Aviva Life Term insurance plans. Tax deductions and exemptions are subject to change from time to time.

To get a duplicate hard copy of the policy document, you have to submit the following documents to the nearest Aviva Life

• Branch Office.
• Indemnity on Rs. 100 stamp paper
• Photo ID Proof Recent coloured photograph
• Endorsement Form.
• Bank statement showing the remittance proof
• Original ID proof to be submitted & verified by the branch executive

The minimum age to apply for the Aviva Life Term Plan is 18 years.

Yes, under Aviva Life term insurance plan you are covered under COVID 19.

The exclusions under Aviva Life Term Insurance are as follows:

• Death due to medical condition not mentioned in the policy document
• Death due to illegal activity
• Death due to suicide within 1 year of the inception of the policy.

The following documents are needed to buy Aviva Life Term Insurance Plan:

• Age Proof
• ID Proof
• Income Proof

Aviva Life Shield Premium plan offers Accidental Death Benefit, under which in case the life assured passes away in an accident during the policy term, the insurance company will provide an additional payout of INR 50 Lakhs along with the death benefit. This plan also offers a Waiver of Premium Cover benefit under which in case the life assured suffers permanent disability due to an accident all future premiums of the insurance policy will get waived off.

You can choose to pay premium for Aviva term insurance policy on a monthly, quarterly, half yearly or yearly basis.

Aviva LifeShield Advantage plan offers a maturity benefit. In case the life assured survives the entire policy tenure, all the premiums paid after excluding taxes and applicable charges (if any) will be provided to life assured at the time of maturity of the plan.

No, loan against the insurance policy is not allowed under Aviva term insurance plans

The coverage of the Aviva Life Term insurance plan should be adequate enough to cover the policyholder’s family financial needs in the unfortunate events. The ideal coverage of your term plan should be 12 times your annual income.

The right time to buy the Aviva Life Term Insurance plan is as early as possible. With the increasing age, the higher would be the term plan premium. The minimum age you can purchase an Aviva Life Term Insurance plan is 18 years.

Aviva Life Term Insurance plans offer Critical Illness cover, Accidental Death Benefit Cover, and Future Waiver of premium.

If you add riders to your Aviva Life Term Insurance coverage, the premium calculated would increase because each rider provides an additional benefit which comes with an additional cost for the additional coverage benefit that it provides.