Aviva Life Insurance Company is a joint venture between one of India’s oldest and most respected business houses, Dabur Invest Corp and Aviva Group, UK based insurance group serving more than 31 million customers across 16 countries! Their combined synergy endeavors to provide insurance solutions to each and every citizen of the country so as to live a carefree and happy life, served by dedicated sales force and world-class products.
Pension plans by Aviva are designed in a manner so as to ensure a steady income for you in the form of a pension post your retirement so that you can continue living a financially independent life. The company offers plans to suit your requirements with easy payment options and excellent returns.
Before proceeding further, let’s have a look at some of the basics of pension plans for better understanding:
Common Features of Aviva Pension Plans:
|Entry Age||Minimum – 42 years last birthday | Maximum - 60 years last birthday|
|Maximum Maturity Age||Maximum – 55 years to 78 years last birthday|
|Policy Term||13, 16 or 18 years|
|Premium Payment Term||Single Pay for 13 years term, 5 years for 16 years term or 10 years for 18 years term|
|Minimum Premium||Single Premium Payment: Rs. 1,50,000/- | Limited Payment Term: Rs. 50,000 p.a.|
|Maximum Premium Amount||Rs. 5 crores|
|Premium Payment Frequency||Yearly, Half-yearly, monthly or Single payment|
It’s is a non-linked immediate annuity plan where payments start immediately after the payment of single premium so as to ensure lifetime of income during your post-retirement years.
In above 2,3, & 4 points, if the annuitant dies during the guarantee period, the nominee shall keep receiving the annuity amount as it would have been paid to the annuitant, till the end of guarantee period
|Entry Age||Minimum - 18 years completed | Maximum - 80 years completed|
|Annual Annuity Amount||Minimum: Rs. 500 | Maximum: No limit|
|Purchase Price||Minimum – Rs. 25,000 | Maximum: No Limit|
|Annuity Payout Frequency||Yearly, Half-yearly, Quarterly, Monthly|
|Premium Payment Frequency||Annual and Monthly|
|Sum Assured||Minimum - 25,00,000 | Maximum: No Limit|