Page 23 - Life Insurance Today January 2018

New Family Income

Builder

from Aviva Life Insurance

Overview Maturity Sum Assured will be paid in the following manner:
Y 12 annual instalments of “1.5 times the annual premium”
At Aviva we recognize your efforts and hard work to
(excluding taxes and extra premium, if any) shall be paid
provide your loved ones with a comfortable life today and
tomorrow. Presenting Aviva New Family Income Builder, a at the end of each year during the Payout Period.
saving cum protection oriented plan that assists you Y A lumpsum amount of “6 times the annual premium”
financially by guaranteeing returns in the form of regular (excluding taxes and extra premium, if any) shall be
payouts for 12 years. These regular payouts are passed paid at the end of the Payout Period
onto your family in case of your untimely death. This An additional Guaranteed Terminal Benefit, depending
ensures that you continue to provide them with the same upon age at entry, is paid at the end of the Premium
lifestyle even when you are not around. Payment Term.

Specifications In case of unfortunate death of the Life Insured while
receiving the regular income, the outstanding regular
Parameter Criterion payouts shall be paid to the nominee/beneficiary.
Entry Age 6 to 50 years last birthday
Death Benefit:
Maturity age 18 to 62 years last birthday
In case of death of the life insured during the policy term
Policy Term 12 years provided all due premiums till date of death have been
Premium Payment Term 12 years paid, the Death Sum Assured payable shall be highest of
Payout Period 12 years after maturity i.e. the following amounts:
13th to 24th year a. 10 times of the annualized premium, or
Annual Premium (Min) Rs. 40,000 b. 105% of all the premiums paid (excluding taxes and
extra premiums, if any) as on date of death, or
Annual Premium (Max) Rs. 1 crore (per life)
c. Maturity Sum Assured
Sum Assured Sum Assured would be 24
times the Annual Premium d. Sum Assured of the Policy; the Sum Assured will be
(exclusive of Goods & paid in the following manner:
Y 12 regular annual installments of “1.5 times the
Services Tax and extra
premium, if any) annual premium” (excluding taxes and extra
premium, if any) shall be paid. The first installment
Minimum Sum Assured Rs 9,60,000 (minimum would be paid at the time of claim settlement and
annual premium of the remaining 11 annual installments shall be paid
Rs. 40,000 X 24) on each of the death anniversary of the life insured
Maximum Sum Assured Rs.24,00,00,000 per life commencing from first death anniversary date.
(maximum annual premium Y A lump sum amount of “6 times the annual premium”
of Rs.1,00,00,000 X 24) (excluding taxes and extra premium, if any) shall be
Premium Payment Frequency Annual only paid along with the 12th annual installment on 11th
death anniversary of the life insured.
Maturity Benefit: An additional Guaranteed Terminal Benefit, depending
In case the life insured survives till the end of the Policy upon your age at entry, shall be paid along with the benefit
Term and provided all due premiums have been paid; the payable at the time of settlement of death claim.

Life Insurance Today January 2018 23

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