Been here before?

Download App

Mobile Number

Mobile number is not in correct

Enter correct mobile number

Previous Searches
Previous Searches
Oops!! No previous Searches found...
Term Insurance
More than 1,00,000 satisfied customers !i
  • Best Rates Guaranteedi
  • Dedicated Claims Deski
  • # 1 in Servicei
Term Insurance Plans

Compare and Buy from 24+ insurance companies

Gender
Male Female
Tobacco User
Yes No
Gender
Tobacco User
Type/Select Annual Income
Select annual income from list
Annual Income
* {{usertextincome}}
{{item.ActualIncomeText}} Type & select annual income from list
With date of birth
/ / Enter Correct Age(Min 18 yrs & Max 65 yrs)
Type/Select City
Select a city from list
Living in
{{item.cityname}} {{citymatch}} Type and select a city from list
Mobile No.
{{wrongMobilemsg}}
Enter OTP
Enter 4-digit code sent to your mobile no. {{userMobile}} Edit
Resend OTP

Aviva iLife Plan

Aviva iLife Plan is a simple pure term plan which is available online. The plan provides substantial coverage. The premiums, on the other hand, are very reasonable and affordable. Regular premiums are payable for the plan.

Key features of the plan

  • A lump sum death benefit is paid in case the life insured dies during the term of the plan.
  • Premium rebates are allowed for choosing a high Sum Assured and also for female lives.

How does the plan work?

Option 1 - the policyholder chooses the Sum Assured, plan term and the premium paying frequency.

Option 2 - the premium is then decided on the life insured’s age and the above plan parameters.

Option 3 - if the life insured dies during the term of the plan, the Sum Assured is paid in lump sum.

Option 4 - If the plan matures, no benefit is paid.

Example

Mr.X, a non-smoking male aged 35 years, buys iLife Plan for a Sum Assured of Rs.50 lakhs. The chosen term is 30 years.

Option 1 – If Mr. X dies during the term, Rs.50 lakhs would be paid to his nominee.

Option 2 – if the plan matures and Mr.X is alive on maturity, no benefit is payable

Plan benefits

  • Death benefit – if the life insured dies during the term of the plan, the Sum Assured is paid to the nominee.
  • Maturity Benefit – there is no maturity benefit payable under the plan

Eligibility:

  Minimum Maximum
Age at entry (in completed years) 18 years 55 years
Age at maturity (in completed years) NA 70 years
Term of the plan 10 years 35 years
Premium paying options Regular pay
Premium Paying term Equal to the plan tenure
Sum Assured Rs.25 lakhs No limit

What is not covered by the plan?

If the life insured dies due to suicide within one year of plan commencement, 80% of the premiums paid are refunded.

If the life insured dies within one year of reviving a lapsed plan, higher of 80% of premiums paid or the Surrender Value acquired by the plan is paid.

Premium Illustration

Given in the chart below are the expected rates of premiums payable by a non-smoking male at different combinations of age, Sum Assured and plan term. The premiums are assumed to be paid annually.

FAQs