Aviva Dhan Nirman Plan

Updated: 22-01-2024 07:22:23 AM

Looking for a risk-free insurance plan that will cover you and your family in the time of need along with guaranteed regular flow of income? Aviva Dhan Nirman Plan is made for the likes of you. Brought to you by Aviva Life Insurance, one of the pioneers in the insurance sector, this plan is designed uniquely to provide policyholders with a bouquet of benefits (bonuses) wrapped with a tight string of security (guaranteed income flow).

Features

Aviva Dhan Nirman Plan is offered by Aviva Life to help its customers face future challenges with confidence. This insurance plan ensures that the policyholder is able to fulfill and meet certain financial requirements without having to dig big holes in their pocket.

Major attractions or key features of this unique savings plus protection insurance plan have been listed below:

• Guaranteed Annual Payouts:One of the reasons why a number of Aviva Life customers prefer this insurance plan is that it offers guaranteed yearly payouts to the policyholder to meet several regular income-related needs which is equal to 150% of the annualized premium. One can reap these benefits right after the premium paying term. These benefits are applicable only if the policyholder has no premium due.
• Lump Sum Payout at Maturity: Most people who opt for an insurance policy envision a better life post-retirement. This insurance plan comes with the guaranteed lump sum benefit at the end of the policy term along with vested simple reversionary and terminal bonuses (if any) to help them realize their vision.
• Comprehensive Financial Protection: The insurance plan gives customers the flexibility to choose their sum assured to ensure comprehensive financial security for their loved ones along with life cover.
• HelpsYou Grow Your Savings: Aviva Dhan Nirman Plan gives its customers an opportunity to grow their savings by getting a simple reversionary bonus at the end of each financial year. This helps the customers stay prepared in advance to face any financial uncertainties.
• Premium Rebate: High sum assured in this Aviva insurance plan will help you land in a deeper pool of rebates, I.e. for those who opt for Sum Assured equal to Rs. 5 Lakhs or more shall be gifted with larger rebates.

Benefits and Eligibility of Aviva Dhan Nirman

This insurance plan comes with a bunch of benefits. Listed below are some of the major benefits associated with this plan:

Survival Benefit: This is the benefit credit to the policyholder when they survive the entire premium payment term and has paid all the outstanding premiums. This survival benefit equates to 150% of annualized premiums and  shall be paid by the insurer on every anniversary of the policy as explained in the table below:

Policy Term	Eligibility for Survival Benefit	Payable Amount
18 years	14th to 17th Policy Anniversary	150% of annualized premiums
21 years	15th to 20th Policy Anniversary
25 years	16th to 24th Policy Anniversary
30 years	18th to 29th Policy Anniversary

Maturity Benefit: If the policyholder survives till the end of the policy term or maturity date and has paid all their due premiums, maturity sum assured amount as tabulated below along with vested simple reversionary and terminal bonuses (if any) shall be given by the insurer as per the chosen policy term. The insurance policy will get terminated after paying maturity benefit to the insured.

Policy Term	Maturity Sum Assured
18 years	8 times the AP*
21 years	7 times the AP*
25 years	6 times the AP*
30 years	5 times the AP*

*AP = Annual Premium

Death Benefit: In case of the unfortunate demise of the policyholder during the policy tenure, the death benefit shall be payable to the legally appointed nominee (provided all outstanding premiums have been already paid). This would be the highest of the following sums:

• 105% of the paid premiums(excluding Extra Premium paid and/or Taxes, if any)
• 10 times the paid annualized premiums
• Maturity sum assured
• sum assured of the insurance policy

In addition to these above-listed benefits, the vested simple reversionary and terminal bonuses (if any) as the percentage of the sum assured will also be paid by the insurer to the beneficiary. After paying all these benefits, policy shall stand terminated.

Tax Benefits: Income tax benefits as per sections 10 (10D) and 80C of the Income Tax Act 1961, will be given to the policyholder. These benefits will be provided as per the current tax laws and are also subject to change.

Eligibility and Product Details of Aviva Dhan Nirman

Listed below are the product details and eligibility criteria to buy Aviva Dhan Nirman plan:

Particulars	Details
Policy	Aviva Dhan Nirman Plan
Policy Type	Non-linked participating savings cum protection-oriented plan
Entry Age	4-50 years
Maturity Age	75 years
Policy Term Premium Payment Term	18, 21, 25 and 30 years 14, 15, 16 and 18 years
Minimum Annual Premium	Rs. 14,486
Sum Assured	Rs. 2 Lakhs – Rs. 2 Crores
Premium Payment Modes	Annual, Semi-annual, Quarterly, Monthly

Calculate Aviva Dhan Nirman Plan Premium Online

Aviva Life Insurance provides a wide range of online tools to help its customers find and buy the right insurance plan to secure their future ahead. Anyone looking to buy this insurance plan can use their online premium calculator to compare the plan with other options, thus making a better decision.

Here are some easy steps an individual needs to follow to use this handy online tool to calculate the premium:

• Visit the official website of Aviva Life Insurancee. https://www.avivaindia.com/
• Go to the option ‘Tools & Services’ in the top menubar
• Click on the ‘Calculators’ and then select ‘Premium Calculators’ option
• A list will open, select your plan(here Aviva Dhan Nirman)
• A form will appear on your screen. Fill out all the requested details like date of birth, age, gender, policy term, sum assured and select your frequency mode to get the details.

One noteworthy point is that this online premium calculator will only show you the approximated value. The actual premium amount may slightly differ from your calculations when you go to buy the plan.

Other Important Details of Aviva Dhan Nirman Plan

Some more important details of this insurance plan have been explained below:

• Grace Period:A grace period of 30 days (but not less than that) is allowed for quarterly, half-yearly and annual premiums while as for monthly premiums it’s set for 15 days.
• Change in Premium Frequency:The insurer provides its customers with an option to change their premium payment frequency at any policy anniversary throughout the premium paying term. However, Rs. 100 will be charged for this service.
• Suicidal Claims: In case the policyholder commits suicides within 12 months from the date of:
• Inception of the insurance policy, the beneficiary or nominee shall be entitled to get the 80% of all the premiums paid*
• Revival of the insurance policy, the beneficiary or nominee shall be entitled to get the amount highest of – the surrender value at that time or 80% of all the premiums paid.
• Policy Loan:Loan facility is not available in this insurance policy. However, one can explore other products by Aviva Life Insurance to enjoy policy loan facility along with.
• Free-Look Period:A customer can review and read all the policy-related terms and conditions within 15 days from the day of getting policy documents. The initial premium amount will be refunded if they cancel their policy within this given period.

Also Check: Aviva Annuity Plus Plan | Aviva i-Growth Plan

FAQs 

Q1. What is surrender value?

Ans. Surrender value is the amount the policy owners get from their life insurance policy if they decide to exit the plan before maturity. An insurance policy can be surrendered after 2 years policy premium payments. The value is greater of the Guaranteed Surrender Value and Special Surrender Value.

Guaranteed Surrender Value = Premiums Paid x Guaranteed Surrender Value Factors – Survival Benefits (already paid) + Guaranteed Surrender Value of the Vested Simple Reversionary Bonuses.

NOTE: Guaranteed Surrender Value of the Vested Simple Reversionary Bonuses = Guaranteed Surrender Value Factors x Vested Amount of Simple Reversionary Bonus

Q2. How to pay premiums online?

Ans. Paying premiums online is quite easy, secure and convenient. Here are the steps to follow to pay the premiums online:

• Visit the official website of Aviva Life Insurance
• Click on ‘Pay Premium’ option from the right-hand side menu bar
• Now enter your policy number and date of birth to proceed further.
• Pay your due amount to complete the process.

Q3. How to connect with Aviva Life Insurance Company?

Ans. The insurance company has a wide network of branches and offices across the country. If you do not have the time or do not want to step out to the nearest branch office, then you can connect with the company in the following ways:

• Call:1800 103 7766
• Email:customerservices@avivaindia.com
• SMS:Aviva to 5676737

Q4. What is meant by policy paid-up value?

Ans. Paid-up value of an insurance plan is the reduced value of the sum assured amount paid by the service provider in case the policy owner stops paying the premiums. After paying premiums for 3 years, a life insurance policy automatically acquires its paid-up value.