Aviva Live Smart Insurance Plan, Policy, Premium and Maturity Calculator
Aviva Live Smart Insurance Plan and Policy - Aviva Live Smart is a Unit Linked Insurance Plan where the policyholder can enjoy market linked returns along with getting life insurance protection too.
Key Features - Aviva Live Smart Insurance Plan and Policy
- This is a Unit Linked Plan which does not earn bonuses.
- There is an inbuilt accidental death benefit option under the plan which pays an additional Sum Assured in case of accidental death.
- There are 7 funds from which the policyholder can choose one or more funds for investing his premium based on his risk appetite.
- Loyalty Additions are added to the plan to enhance the fund value.
Eligibility Details - Aviva Live Smart Insurance Plan and Policy
| PARAMETER | MINIMUM | MAXIMUM |
| AGE OF ENTRY | 2 | 50 |
| MATURITY AGE | 18 | 65 |
| SUM ASSURED | For ages below 45 years – higher of 10 times the annual premium or 0.5*plan term*annual premium For age of 45 years and above – 10 times the annual premium |
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| PREMIUM PAYMENT TERM | Equal to Plan tenure | |
| POLICY TERM | 15 | 30 |
| PREMIUM PAYMENT MODE | Yearly | |
Benefits - Aviva Live Smart Insurance Plan and Policy
Tax Benefits - Aviva Live Smart Insurance Plan and Policy
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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 Live Smart Insurance Plan and Policy
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On maturity, the Fund Value including any top-up Fund Value available on the maturity date would be paid to the policyholder along with the accrued Loyalty Additions.
Death Benefit - Aviva Live Smart Insurance Plan and Policy
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In case of death of the insured, the death benefit payable would be higher of Sum Assured or 105% of total premiums paid till death + Fund Value available under the plan. The death benefit would also include higher of the top-up Sum Assured or 105% of total top-up premiums paid + top-up Fund Value available under the plan.
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