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Aviva Credit Plus Insurance Plan and Policy

Aviva Credit Plus Insurance Plan and Policy - CreditPlus is a feature created mainly with micro finance organisations who offer loans to customers in semi-urban and rural areas, offering protection by mitigating the monetary losses that could potentially arise in case of one of the member’s untimely death. Members of the deceased’s family also receive financial security and loan protection.

Key Features - Aviva Credit Plus Insurance Plan and Policy:

Type

Micro financial institution insurance plan

Coverage

Death Benefit – Financial security for the families of the member plus loan protection

Basis

Group

Policy term

1 year (renewable every year)

Premium paying term

1 year

Premium payment frequency

Yearly, half-yearly, quarterly or monthly

Renewability

The policyholder can decide whether or not to renew the contract, but the company reserves the right to accept or reject the policyholder’s decision by providing a written notice of the same at least three months prior to the policy anniversary.

Loans

NA

Grace Period

The company will allow a grace period of 30 days except for monthly frequency of premium payment wherein grace period will be of 15 days.

Eligibility Details - Aviva Credit Plus Insurance Plan and Policy:

Entry Age

  • Minimum – 18 years

  • Maximum – 55 Years

Maturity Age

Maximum maturity age of 65 years

Policy Term

1 year (renewable every year)

Premium Payment Frequency

Annually, half yearly, quarterly or monthly

Annual Premium

Dependent on the size of the member group, their age, their occupations and the outstanding balances

Maximum Sum Assured Per Member

Rs. 50,000

Benefits - Aviva Credit Plus Insurance Plan and Policy:

  • Elimination of the monetary losses that may be incurred owing to an eligible member’s untimely death
  • No financial pressure on the families of eligible members who have outstanding loans, in case of their untimely death
  • Loan protection and financial protection for the families of eligible member in case of untimely death of the member
  • Income for families of an eligible member through profit of their scheme by means of a credit against the following year’s premium

Aviva Group Life Insurance Plans and Policy

 

Aviva Group Insurance Plans
Aviva Credit Plus
Aviva Credit Suraksha
Aviva Group Life Protect
Aviva Term Protection Plans
Aviva i-Life Insurance Plan
Aviva i-Shield Insurance Plan
Aviva LifeShield Advantage Insurance Plan
Aviva LifeShield Platinum Insurance Plan
Aviva LifeShield Plus Insurance Plan
Aviva Extra Cover Insurance Plan
Aviva i-Life Secure Insurance Plan
Aviva i-Life Total Insurance Plan
Aviva Rural Insurance Plans
Aviva Jana Suraksha Insurance Plan

Aviva Child Life Insurance Plans
Aviva Young Scholar Secure
Aviva Sampoorna Suraksha
Aviva Young Scholar Advantage
Aviva Retirement Insurance Plans
Aviva Annuity Plus Insurance Plan
Aviva Next Innings Pension Plan
Aviva New Family Income Builder
Aviva Affluence Insurance Plan