Aviva Wealth Builder Insurance Plan, Policy, Premium and Maturity Calculator - Aviva Wealth Builder Plan is a traditional Endowment plan which provides a guaranteed maturity benefit and guaranteed death benefit. Thus the plan provides life cover and wealth creation both of which are guaranteed in absolute terms.
Key Features - Aviva Wealth Builder Insurance Plan and Policy
- This is a traditional Endowment plan which does not earn bonuses
Any tenure can be chosen and premiums have to be paid for a limited tenure which would depend on the chosen plan tenure or in one lump-sum as the plan provides the Single Premium facility.
- The maturity and the death benefit are guaranteed.
- The Sum Assured is fixed at double of the total premiums payable under the plan.
Eligibility Details - Aviva Wealth Builder Insurance Plan and Policy
|AGE OF ENTRY||5 years||50 years|
|MATURITY AGE||Term 13 years – 18 years
Term 15 years – 20 years
Term 17 years – 22 years
|Term 13 years – 63 years
Term 15 years – 65 years
Term 17 years – 67 years
|SUM ASSURED||Single Pay – 2 times the single premium
PPT 5 years – 10 times the annual premium
PPT 10 years – 20 times the annual premium
|PREMIUM PAYMENT TERM||5/10 or Single premium|
|POLICY TERM||13 years||17 years|
|PAYMENT MODE||Annually or Single Pay|
Benefits - Aviva Wealth Builder Insurance Plan and Policy
Tax Benefits - Aviva Wealth Builder Insurance 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 Wealth Builder Insurance Plan and Policy
If the insured survives till maturity, double of the aggregate premiums paid under the plan which is also the Sum Assured is paid to the policyholder.
Death Benefit - Aviva Wealth Builder Insurance Plan and Policy
If the insured dies during plan term and the plan is in force, the Sum Assured is paid as the death benefit. If the life insured is a minor, in the event of death of the policyholder (who is paying the premium), any legal guardian or grandparent can pay the premiums. If premiums are not paid, the lapse provisions of the plan would be applicable.