LIC Premium and Maturity Calculator

Aviva Next Innings Pension Plan, Policy, Premium and Maturity Calculator

Aviva Next Innings Pension Plan, Policy, Premium and Maturity Calculator - Aviva Next Innings Pension Plan is a traditional Deferred Annuity Pension Plan wherein the policyholder can accumulate his retirement corpus through the plan. Thus the plan helps in building a retirement fund for the policyholder.

Key Features - Aviva Next Innings Pension Plan and Policy

  • This is a traditional deferred annuity plan where bonuses are not declared.
  • Premiums under the plan can either be paid for a limited tenure or in one lump sum.
  • The plan provides a guaranteed lump sum corpus on maturity while the death benefit depends on the premiums paid and the interest earned.

Eligibility Details - Aviva Next Innings Pension Plan and Policy

PARAMETER MINIMUM MAXIMUM
AGE OF ENTRY 42 years 60 years
MATURITY AGE 55 years 78 years
PREMIUM PAYMENT TERM 5, or 10 Years or Single pay
POLICY TERM 13 years 18 years
ANNUITY FREQUENCY Half-yearly,Monthly or annually or Single Pay

Benefits - Aviva Next Innings Pension Plan and Policy

Tax Benefits - Aviva Next Innings Pension Plan and Policy

  • Tax benefits are subject to conditions specified under section 10(10D) and section 80C of the Income-tax Act, 1961. Tax laws are subject to amendments from time to time. Customer is advised to take an independent view from tax consultant. Service Tax & Cess, as applicable shall be levied over and above premium amount shown here as per applicable tax laws.

Maturity Benefit - Aviva Next Innings Pension Plan and Policy

  • None

Death Benefit - Aviva Next Innings Pension Plan and Policy

  • If the insured dies during plan term and the policy is in force, the death benefit payable would be higher of the following:
    1) Premiums paid till death compounded at an annual rate of 6%
    2) 150% of the total premiums paid till the date of death.
    The death benefit could be used by the nominee to purchase an Immediate Annuity plan from the company or the benefit could be completely withdrawn in lump sum.

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