SO Life insurance one of my favorite section I simply love it .SO coming to the point as you already know i love saving life insurance plans so today i thought to write something about AVIVA as I just there latest Insurance Freedom Life \
Freedom Life Plan allows you to choose the proportion of savings and protection and change it, in line with your changing needs, with the option to pay premiums for as few as 3 years, through:
Option to reduce premium and increase / decrease Life Cover (Sum Assured)
Option to cover husband and wife under the same policy
Range of cover from 5*AP to 1.25*PT*AP
Death Benefit:
In the unfortunate event of your death, the amount of Life Cover or Fund Value, whichever is higher, shall be payable to the nominee
The fund value pertaining to top-up premiums, if any, shall also be payable
Rider Benefit:
Additional benefits are payable if the following riders are opted for:
If the Aviva Payor Plus rider has been opted for, all future premiums will be waived and paid (as a lumpsum) into fund value
Loyalty Additions
If you have paid all due premiums, you will be eligible for loyalty additions.
The addition will be 6% of fund value at the end of year 10 and 4% of fund value at the end of year 15, 20, 25 and 30 provided these years fall within your policy term.
Maturity Benefit:
On maturity, the fund value will be paid to the policyholder along with the loyalty additions, if any and applicable
Settlement option – This allows you to keep the money invested in the fund even after maturity and enables you to receive the same systematically over a period of 5 years. You can opt for this option at maturity
Tax Benefit:
The Policy offers tax benefits as per the prevailing laws of the Income Tax Act, 1961. Tax laws are subject to change
See an illustration for yield net of charges
The extract are taken form Aviva website so you can trust on its content for more details visit there vist
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