aviva lifesaver advantage

8/8/2019 Aviva LifeSaver Advantage

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Aviva LifeSaver AdvantageAn overview

UIN: 122L082V01

"For internal and partner use only and not to be shared with public. Violation of this could lead to immediate termination."


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Positioning Saving Plan

Key Drivers Regular PPT, protection, med-high cover

Target AudiencePerson looking at disciplined saving with high level of financial security for the family,

in case something untoward happens

Features to appeal Increasing death benefit, Aviva Child Education Rider

Sales Pitch

Aviva LifeSaver Advantage is predominantly a savings plan with a high level of

financial security for the family.

In the event of your unfortunate death:

- Your family enjoys an increasing level of protection and receives the Sum Assured

and Fund Value, in the event of your death

- Your family receives a monthly income, in your absence, till the end of the policy

term, with the Aviva Child Education Rider

Aviva LifeSaver Advantage

Product Positioning Saving Plan

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Positioning Child Plan

Key Drivers Aviva Child Education Rider , Option of high/low SA

Target AudienceParents who would like to provide the security of a replacement income, in the event of

their death, to guarantee the childs education

Features to appeal Aviva Child Education Rider , Increasing death benefit (SA + FV)

Sales pitch

Aviva LifeSaver Advantage is a child plan that secures your childs education needs :

-through an increasing life cover payable as a lump sum on death (Guaranteed SA +

FV)

-stream of regular income payable to the child till the end of the original policy term

(Aviva Child Education Rider)


Product Positioning Child Plan

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Step 1: Decide the corpus you wish to build for your medium to long term needs and the time when

the same should be available. This will influence the choice of premium and the policy term

Step 2: Choose the level of protection you desire through: Level of Life Cover (Sum Assured)

Choice of Riders

Step 3: Arrive at the amount of premium you need to pay, which will be determined by step 1&2. Also

choose the Premium Paying Frequency (PPF) based on your convenience.

Step 4: Choose the funds you want to invest in depending on your risk appetite.

8 Fund options to select from basis your risk appetite Safe entry into equities and safer exit through Systematic Transfer Plan


Easy Steps to Your Plan

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Aviva LifeSaver Advantage Product Specifications


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Entry AgeLife Insured: Without riders: 2 to 60 years

With riders: 18 to 55 years

Policy Term (PT) 15, 20, 25 or 30 years s.t. maximum maturity age of 75 years

Maturity Age 18 to 75 years

Premium Payment Term (PPT) Equal to Policy Term

Premium Minimum: Rs.25,000Maximum : No limit, depends on underwriting

Premium Payment Frequency Yearly, Half-yearly and Monthly (monthly mode by ECS/Direct Debit only)

Sum Assured (SA)Minimum: 1.05 x Policy Term x Annualized Premium

Maximum: 1.50 x Policy Term x Annualized Premium

Top up Premium Minimum: Rs.5,000; Maximum: No limit, depends on underwritingSum Assured on Top-up premium: (1.25 x Top up Premium)

Riders

In-built: Accidental Death Benefit

Optional: Aviva Dread Disease (DD) Rider

Aviva Child Education (CE) Rider

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The Product Specifications


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Aviva LifeSaver Advantage Features


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Commencement of Risk and Auto-Vesting

Risk cover commences immediately starting from the date of commencement of the policy

If LI is a minor at DOC, the policy automatically vests in the LI on his/her completion of age 18 years l.b.d

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The Product Features

Top-up premiums

Top-up premiums can be paid any time during the PT (except during the last 5 years of the policy) provided all due

premiums are paid

Minimum Rs.5,000; Maximum: No limit. Depends on underwriting

SA on Top-up premiums = 1.25 x Top-up premium

Top-up premiums are allocated in funds in the same proportion as applicable for regular premium, unless otherwise

specified at the time of paying the top-up premium

In-built Accidental Death Benefit

The policy provides an in-built Accidental Death Benefit (ADB) provided LI(s) is/are between 18 60 years l.b.d. as on

date of death

This in-built accidental death benefit would equal to the Base Sum Assured, subject to the total ADB

cover not exceeding Rs.50 lacs. (as on date of proposal)

Please note that this is an built-in benefit and hence not required to be opted as a rider on the proposal form


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Death Benefit

Provided death-risk cover is in force (during the PT, provided all due premiums are paid), the Death Benefit includes:

(SA + FV pertaining to base plan) + (SA + FV pertaining to top-up premiums, if any) and Additional SA (if death is due to an accident, s.t. conditions specified under Accidental Death Benefit) and

Monthly Benefit as opted under Aviva Child Education Rider

(Paid to the beneficiary till the end of original policy term, if this rider has been opted for)

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Maturity Benefit

Fund Value (value of units pertaining to regular premium & top-up premium, if any) as on the maturity date

Option to reduce the Sum Assured

If existing SA is greater than minimum base SA allowed, base SA can be reduced at any policy anniversary (without

reducing base premium) such that the revised multiple does not fall below the minimum SA allowed under this plan

A written notice is required at least 15 days before the policy anniversary to exercise the option

The premium will not change if this options is exercised

Decrease in SA will result in proportionate decrease of rider SA ofAviva DD Riderand/orAviva Child Education

Rider, if any, on the life of Life Insured such that revised Rider SA


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Partial Withdrawals

Partial withdrawals allowed:

Only if the Life Insured is at least 18 years of age

After the first five policy years from the regular premium account

From top-up premium (TUP) account after completion of 5 years from date of allocation of that TUP

Partial withdrawals allowed upto a maximum of 4 partial withdrawals per policy year

Minimum amount per partial withdrawal = Rs.5,000

Partial withdrawals to first be made from top-up premium account, if any & if eligible, & thereafter from the

regular premium account, if any & if eligible

Minimum Fund Value (related to regular premiums) after such withdrawal should not fall below the 2 times of

first year annual premium

Any Partial withdrawals made shall not affect the level of sum assured.

Loan

Loan will not be available under this policy

Grace Period

30 days for Annual and Half-yearly frequency

15 days for Monthly frequency


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Investment OptionsPolicyholders can invest option in any of the following eight Funds s.t. minimum 10% in any of the Funds chosen:

Switching between funds

Switching between the 8 unit linked funds allowed, anytime, any number of time

First 12 switches in a policy year are free of charge;

Subsequent switches will be charged at 0.5% of the amount switched s.t. a maximum of Rs 500 per switch

This charge is not applicable in case of switches under STP or reverse STP

Minimum switch amount & balance after part switch Rs 5,000 (limit not applicable if 100% of a fund is being switched)

Fund Investment Pattern Risk

Balanced Fund-II (To generate a balance of capital growth and steady returns) Debt & MM (0%-100%); Equity (0%-45%) Med

Bond Fund-II (To generate a steady income through investment in high quality fixed

income securities)

Debt & MM (100%); Equity (0%) Low

Enhancer Fund-II (To provide aggressive, long term capital growth with high equity

exposure)

Debt & MM (0%-40%); Equity (60%-100%) High

Growth Fund-II (To generate long term capital appreciation with high equity exposure) Debt & MM (0%-70%); Equity (30%-85%) HighIndex Fund-II (To generate returns in line with the stock market index S&P CNX

NIFTY)


Infrastructure Fund (To generate steady returns through investment in infrastructure

and related equities)


Protector Fund-II (To generate steady returns with a minimum exposure to equities) Debt & MM (0%-100%); Equity (0%-20%) Low

PSU Fund (To generate steady returns through investment in PSU and related

equities)



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Premium re-direction

Change of allocation proportion of future premiums allowed, anytime, free of charge

Premium redirection is allowed upto 2 times a policy year

Unused options cannot be carried forward to future years

Minimum allocation in each selected fund must be 10%

Systematic Transfer Plan (STP with Reverse STP)

Allowed at inception or at any policy anniversary (except last 3 policy years) for annual premium frequency policies bygiving a written notice at least 30 days prior to the policy anniversary.

Option of a weekly or a monthly STP

Systematic switches (52 or 12 p.a.) from Protector Fund-II to Enhancer Fund-II to be free of charge

During the last two years before maturity the units will be switched from Enhancer Fund-II to Protector Fund-II (Reverse

STP ) on a monthly basis only

No other switches into or from Protector Fund-II are allowed during this period

Option to close and restart STP on policy anniversaries

Conditions regarding switch fee, minimum switch, minimum fund after switch etc. for normal switching option shall not

be applicable to switches made under Systematic Transfer Plan.

Assignment and Nomination

Assignment and Nomination are allowed as per sections 38 & 39 respectively of the Insurance Act, 1938.


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Discontinuance means the state of a policy that could arise on account of non-payment of premium before expiry of

the grace period orupon receipt of information by Aviva from the insured about the discontinuance of the policy

No policy shall be treated as discontinued if, within the grace period, the premium has not been paid due to death of

the policyholderorthe insured orboth orupon the happening of any other contingency covered under the policy

The proceeds of a discontinued policy shall be payable :

Only after the completion of first f ive policy years (i.e. the lock-in period) and

After addition of interest computed at the minimum interest rate as prescribed by IRDA from time to time for

the period for which the policy remained in the Discontinued Policy Fund (the current minimum interest

rate is 3.50% p.a.)

Discontinued Policy Fund means the segregated fund of Aviva that is set aside and equals the Fund Value of all

discontinued policies determined in accordance with the prevailing regulations

Lock-in-period means the period of five consecutive years from the date of commencement of the policy, during

which period the proceeds of the discontinued policies cannot be paid by Aviva to the policyholder or to the insured,

except in the case of death of Life Insured

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Premium Discontinuance

Options available to the Policyholder upon discontinuance of the policy

policyholder shall be entitled to exercise one of the following options upon the discontinuance of the policy:

evival of the policy, or

omplete withdrawal from the policy without any risk cover

Note: Revival of the policy after expiry of grace period will be subject to underwriting requirements




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Obligations of the Company for revival of the policy

Where a policy is discontinued, the Company shall send a notice within a period of 15 days from the date of expiry of grace period

to the Policyholder to exercise the option to revive the policy within a period of 30 days of receipt of such notice

During this period the fund value of the policy shall be part of the segregated fund chosen till the policyholder exercises his/her

option or till the expiry of 30 days of notice period whichever is earlier and the policy is deemed to be in-force with full risk cover as

per terms and conditions of the policy.

If the Policyholder does not exercise this option within the stipulated period of thirty days, the Policyholder shall be deemed to have

exercised the option of complete withdrawal from the policy without any risk cover.

Where the Policyholder exercises the option to revive the policy, the policy shall continue with full risk cover.The revival of the policy after the end of grace period will be subject to underwriting requirements and will be effective only after

Aviva specifically approves the Policyholders request for revival and communicates the same to the Policyholder in writing

Obligation of the Company upon complete withdrawal of the policy

Prior to completion of lock-in period:

If the policyholder exercises the option of complete withdrawal from the policy without any risk cover, within the lock-in period, the

fund value of the policy after deducting discontinuance charges, on the date of discontinuance of the policy shall be credited to the

discontinued policy fund.

The proceeds of the discontinued policy shall be refunded only upon completion of the lock in period and after addition of interest

subject to the minimum interest rate as prescribed by the IRDA from time to time for the period for which the policy remained in the

Discontinued Policy Fund (currently minimum interest rate is 3.50% p.a. on compounding basis)

The income earned on the discontinued policy fund shall also be payable to the Policyholder after the end of lock in period.

Post completion of lock-in period:

If the Policyholder exercises the option of complete withdrawal from the policy without any risk cover after the end of the lock in

period, the Company will pay the fund value to the Policyholder and the policy terminates

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Obligations of the Company in case of Premium Discontinuance



Note: Revival of the policy after expiry of grace period will be subject to underwriting requirements

Once a policy is moved to Discontinuance Fund, it cannot be revived


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Exclusions

No benefit, except FV as at date of notification of death of LI is payable if death occurs due to suicide or attemptedsuicide within 12 months from date of commencement or from date of revival of policy, in case of revival, following which

the policy terminates

The additional benefit on account of Accidental Death during the policy term shall not be payable if the Accidental

Death is caused or aggravated directly or indirectly by:

Alcohol or drug abuse including drug taking other than prescribed by a medical practitioner, any crime

committed by the insured, willful self inflicted injury, suicide or attempted suicide or unreasonable failure to

seek or follow medical advice.

Failure to seek and follow medical treatment and advice from a registered and qualified medical practitioner

immediately following an accident. The word immediately here does not mean that the insured should

approach instantly to a medical practitioner in case of an accident, but he/she should not avoid the treatment

knowingly.

Aviation other than as a passenger in a commercially licensed passenger aircraft.

Engaging in racing of any kind other than athletics or swimming.

Any form of war, invasion, hostilities (whether war be declared or not), civil war, rebellion, riots, social

disorder, insurrection, military or usurped power, or willful participation in acts of violence.

Radioactive contamination due to a nuclear accident.

Participation in sports or pastimes of a hazardous nature including (but not limited to) parachuting, potholing,

mountaineering and hot air ballooning.

Any condition existing prior to the Commencement Date unless it has been previously disclosed to the

Company before or at the time of application for this Insurance. However, claim eligibility will be subject to the

provisions of Section 45 of the Insurance Act 1938.

For rider exclusions, if any, please refer the section on riders.

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Aviva LifeSaver Advantage The Riders


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An overview of the riders

Rider option Maximum expiry agefor rider benefit Minimum SA Term of Rider Premium PayingTerm of Rider

Aviva Dread Disease (DD)

Rider *

65 Rs. 200,000 PPT of base plan PPT of base plan

Benefit: A lump sum equal to Aviva DD rider Sum Assured is paid on contracting

any of the 18 critical illnesses covered or on PTD, and the policy continues with

the rest of the benefits intact.There is a waiting period of 180 days and survival period of 30 days for this rider

Aviva Child Education

Rider **

70 12,000 x PT

Same as Policy

Term of base

plan

Approximately half

of PT of base plan

Benefit: In the event of death of Life Insured, a monthly income, as decided at

inception of the policy, is paid to the nominee till the end of the policy term.

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Note:

- All the riders are stand-alone riders and will not impact the other benefits under the plan

- Rider SA (for any Rider) cannot exceed the Base SA

* Cover under Aviva Dread Disease Rider to expire at the age 65 years or end of PPT of Base Plan whichever is earlier.

* SA for Aviva DD Rider together with the rider SA under Aviva Health Guard Rider, if already opted for cannot exceed Rs.50 lacs (on one

life for all Aviva policies)

** Cover under Aviva Child Education Rider to expire at age 70 years or end of PT of Base Plan whichever is earlier.

Premium to be collected in addition to the base premium for either of the riders with Aviva LifeSaver Advantage


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Aviva LifeSaver

Advantage

Death Benefit Maturity Benefit

Tax Benefits

On death of life insured the following shall be payablefollowing which the contract terminates:

(SA + FV pertaining to regular premium at date ofnotification of death) &

(SA + FV pertaining to top-up premiums, if any atdate of notification of death)

In the event of accidental death,

if age of LI(s) is/are between18

60 years l.b.d. as on date of death then,in addition to the Death Benefit mentioned

above, a benefit equal to the base SA shall also

be payable s.t. a maximum limit of Rs.50 lacs

Value of units pertaining to regular premium and top-uppremium, if any, as on the maturity date.

Tax benefits will be as per the prevailing tax laws

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The overall benefits

Accidental Death

Benefit

Rider Benefits

Additional benefits through riders

for protection against illnesses/

disability and providing regular income tochild in case of death of LI


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Premium Allocation Charge:

Allocation Charge will be :

Allocation charge for top-up premium: 2%

Fund Management Charge:Fund Management Charge (FMC) of

1.35% p.a. will be applied on the below

given funds while calculating respective

NAVs on a daily basis

1st Yr2nd 5th

yr

6th yronwar

ds

Regular/

Limited

PPT

6% 4% 3%

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The charge structures

Fund Risk Profile

Balanced Fund-II Medium

Bond Fund-II Low

Enhancer Fund-II High

Growth Fund-II High

Index Fund-II High

Infrastructure Fund High

Protector Fund-II Low

PSU Fund High

Discontinuance Charge:

A discontinuance charge is applied as follows:

Note: There will be no discontinuance charge on fund value

corresponding to Top up premium, if any.

Where the

policy is

discontinued

during the

policy year

Discontinuance

charges for policies

having Annualized

premium upto

Rs. 25,000

Discontinuance charges

for policies having

Annualized premium

above Rs. 25,000

1

Lower of 20% of AP or

Fund Value subject to a

maximum of Rs.3000



maximum of Rs.6000

2



maximum of Rs.2000



maximum of Rs.5000

3



maximum of Rs.1500



maximum of Rs.4000

4



maximum of Rs.1000



maximum of Rs.2000

5 and

onwardsNil Nil


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Policy Administration Charge (PAC):

- PAC will be made by monthly redemption of units from the policy unit account throughout the policy term.- PAC = 0.1% of Annualized Premium per month subject a maximum of Rs. 400 p.m.

Mortality Charge Base Product:

- Levied on Sum at Risk (SAR) by monthly redemption of units from the policy unit account. SAR is always >= Zero- SAR is defined as (Base SA minus FV pertaining to regular premium) + (Top-up SA minus FV pertaining to top-up

premium)-Two years age setback on male rates will be used in mortality charges for female

- Sample mortality charge per Rs. 1,000 of SA for a male of different ages is given below

- In addition, Re.0.60 per 1000 of Sum Assured will be charged for in-built Accidental Death Benefit, if applicable.

Rider Premium:- Rider premiums will be collected separately (apart from the basic premium) and will cover the rider benefits.

- Rider premiums will be payable at the same frequency as the base plan for the duration of the PPT of the rider- Sum of rider premiums should not exceed 30% of the base premium. In case the rider premium crosses this limit,

then the riders SA would be reduced accordingly subject to the minimum limit for the rider. If the rider SA is lower

than this minimum limit then the rider wont be offered.-The rider charges are subject to change with prior approval of IRDA

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Age 25 30 35 40 50 60 70

Rs. 1.4250 1.4638 1.7938 2.6875 6.9150 17.1650 48.0738


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Rider Premiums contd:

-Aviva DD Rider - Male & female rates are separate. Sample rates per Rs.1,000 of SA (healthy male, PT=15 yrs)

given below:

-For Aviva Child Education Rider, unisex rates are used. Sample rates for Rs. 1,000 of monthly payout (15 year PT, 7

year Rider PPT) are given below:

Switching Charge:-First 12 switches in a policy year: Nil. On subsequent switches, a charge of 0.5% of the amount switched subject to a

maximum of Rs.500 per switch

Miscellaneous Charge- Service Tax and Education Cess will be applied as notified by the government from time to time.

Minimum Guarantees on Charges-The PAC, Mortality Charge, Premium Allocation Charge and Discontinuance Charge are guaranteed under the

contract

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Aviva DD Rider Rates (Male life, 15 year PT) Age 25 30 35 40

per Rs. 1,000 of SA Rs. 1.64 2.78 4.79 8.21

Aviva Child Education Rider Rates

(15 year PT, 7 year PPT of rider)Age 25 30 35 40

per Rs. 1,000 of monthly payout Rs. 264.47 315.35 446.88 692.72


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Old vs. New 1/3

Features Old New

Entry Age

LI: 0 60 (no riders); 18 55 (with CHB/ AD&D

riders); 18 50 (with IB rider)Proposer: 18 60 (with PayorPlus rider)

LI: 2 60 (no riders);

18 55 (with riders)

PT / PPT

PT = 10, 15, 20, 25 & 30 yrs s.t. a max maturity

age of 75 years

PPT = PT

PT = 15, 20, 25 or 30 years s.t. maximum maturity

age of 75 years

PPT = No change

Flexibility- Increase in premium allowed (with SA increase)

- Decrease in SA allowed- Decrease in SA allowed

Minimum Premium Rs. 15,000 Rs. 25,000

Premium frequency Yearly, Half-yearly, Quarterly or Monthly Yearly, Half-yearly or Monthly

Sum AssuredMinimum: 5 x AP

Maximum: 1.5 x AP x PT

Minimum: 1.05 x AP x PT

Maximum: 1.50 x AP x PT

Riders Optional: AD&D, PayorPlus, IB, CHB

In-built: Accidental Death Benefit

Optional: Aviva DD Rider, Aviva Child Education

Rider,

Top-up premium

Minimum: Rs 1,000; total up to 25% of total

Regular Premium

SA on top-up premiums: NIL

Minimum: Rs 5,000Maximum: No limit, subject to underwriting

Every top-up will carry a SA = 1.25 x Top-up

premium

Loyalty Additions

During the term : 20% of FYP every 5 years,

starting 10th year (except on

maturity)

At Maturity :130% to 175% of FYP

NIL


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Features Old New

Lock-in 3 years 5 years

Partial withdrawals Allowed after 5 years No change

Allocation rate

65% to 70% in FY

75% in SY

98% in third to fifth year

100% from year 6 onwards

Top-up premiums: 98%

94% in FY

96% in 2nd 5th year

97% from year 6 onwards

Top-up premiums: No change

Policy Admin ChargePremium related :1% of FYP per month for first 5 years

Nil thereafter

0.1% of Annualised premium per months.t. a maximum of Rs. 400 p.m. throughout the

policy term.

Surrender penaltyNil after 5 policy years, irrespective of premiums

paid

- Discontinuance charge levied (basis year in

which policy is discontinued)

- NIL after 5 yrs, irrespective of premiums paid

Switching

First 4 switches in a policy year - Free

Subsequent switches charged @0.5% of amount

switched, subject to a maximum of Rs 500 perswitch

- First 12 switches in a policy year - Free

- Subsequent switches charged @0.5% of amount

switched, s.t. a maximum of Rs 500 per switch

Grace Period 30 days for all frequencies30 days for yearly and half-yearly frequencies

15 days for monthly frequency

Revival periodReinstatement period = Two years from the due

date of the first unpaid premium

Where a policy is discontinued, the Company

shall

send a notice within a period of 15 days from the

date of expiry of grace period to the Policyholder

to exercise the option to revive the policy within a

period of 30 days of receipt of such notice


Old vs. New 2/3


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New Vs Old 3/3

Page 24

Annual

premium

(Rs)

SA

(Rs)

PT

(years)

Gross

Investment

Return (%)

Projected

Fund Value at

Maturity (Rs)

Yield net of

charges

(%)

25,000

393,750 156% 484,895 3.15%

10% 680,219 7.14%

525,000 206% 713,267 3.27%

10% 1,133,672 7.28%

50,000

787,500 156% 969,791 3.15%

10% 1,360,439 7.14%

1,050,000 206% 1,426,534 3.27%

10%2,267,344 7.28%

1,00,000

1,575,000 156% 1,939,582 3.15%

10% 2,720,878 7.14%

2,100,000 206% 2,853,067 3.27%

10% 4,534,688 7.28%

Following are projected maturity values for a male aged 35 years, and invests 100% into Enhancer-II fund:

Projected

Fund Value at

Maturity (Rs)

Yield net of

charges

(Old)

500,439 3.53%

671,764 6.99%719,134 3.35%

1,098,949 7.02%

1,003,273 3.56%

1,347,703 7.03%

1,441,243 3.36%

2,204,138 7.04%

2,006,546 3.56%

2,695,407 7.03%

2,882,487 3.36%

4,408,277 7.04%

Note: The values are including Mortality and Service Tax

NEW OLD


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Aviva Life Saver Advantage

The improvement over Aviva New LSP

Page 25

Features Improvement

Accidental Death

Benefit

- Accidental Death Benefit is now in-built to the extent of Base SA s.t. a maximum of Rs. 50 lacs

(unlike LSP where Accidental Death & Dismemberment benefit was offered as a rider)

Health Rider

-CHB Rider has been replaced by the Aviva Dread Disease (DD) Rider

- Unlike the CHB Rider, Aviva DD Rider is a stand-alone rider

Benefit: Payout does not impact the base policy

Replacement ofIncome

- Income Benefit (IB) Rider has been replaced by the Aviva Child Education (CE) Rider

- With the IB Rider, the maximum rider SA was capped at Rs. 10 lacs i.e. the annual payout wascapped at Rs. 1 lac . However with Aviva CE Rider, the rider SA is capped only at the base SA

Benefit: Aviva CE Rider gives the option to select a higher monthly income

Policy

Administration

Charge (PAC)

- PAC has been reduced to 0.10% of Annualized Premium p.m. subject a maximum of Rs. 400 p.m.

(unlike LSP where PAC was 1% of Annualized Premium p.m. for the first 5 years with no cap)

Benefit: Motivation for the policyholder to buy the policy

AllocationCharge

- The Allocation Charge for the first 2 years has been lowered and charge is being levied evenly

(unlike LSP where the allocation charge was higher in the first 2 years)Benefit: Motivation for the policyholder to buy the policy

Top-up

premiums- There is no limit on Top-up premiums (unlike LSP where top-up premiums were capped at 25% of

the total premiums paid

Switching - 12 free switches in a policy year (unlike LSP with only 4 free switches in a policy year)


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Aviva plc 2009


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Aviva Dread Disease rider [UIN: 122B014V01]

If this rider has been opted for and the LI contracts a dread disease covered by this rider or suffers Permanent Total Disability

due to illness or accident, then on survival of LI for 30 days following the confirmed diagnosis of the said dread disease(s) andsubsequently upon our acceptance of claim, the Aviva Dread Disease (DD) Rider Sum Assured will be payable

Sum Assuredallowed for this Rider

Minimum: Rs. 200,000

Maximum: Base Sum Assured

[Aviva DD Rider SA should not exceed the SA under the base plan, subject to Rs. 50 lacs (under all policies issued with this

rider or Aviva Health Guard rider)]

Entry Age: 18 55 years

Maximum age for expiryof rider benefit: 65 years or upto PPT of Base product whichever is earlier

Rider Term = Rider PPT= PPT of Base product

Others:

This rider can only be taken at inception subject to the prevailing underwriting requirements

Aviva DD Rider premium should not exceed 30% of the premium under the base product otherwise rider SA would be reduced

accordingly. If for an SA of Rs. 2 lacs, Aviva DD Rider Premium is greater than 30% of the premium under the Base Product,

this Rider will not be offered.

Maximum SA under Aviva DD Rider is equal to the SA under the base plan subject to maximum of Rs.50 lacs (for all policiesissued by the Company under this rider)

Aviva DD rider is offered in stand alone form and its benefits are independent of death benefits. The rider is one single rider

and cannot be split into parts.

Upon the acceptance of a claim under this rider, Aviva DD rider benefits will cease

This rider can be withdrawn at any time during the term of the rider. Once withdrawn this rider cannot be taken again

No survival or death benefit is payable under this rider. The rider also does not acquire any surrender or paid up value

The rider will be available to substandard lives with appropriate extra premium as per Avivas underwriting practices.

For further details refer Rider Key Feature Document embedded alongside

Page 27

Aviva Dread Disease Rider

Aviva DD

Rider_KFD

Aviva DD Rider

Key Feature Document

A i Child Ed ti Rid


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Aviva Child Education Rider

Aviva Child Education rider [UIN: 122B015V01]

Specifications:

In case this rider is opted for, and life insured dies during the policy term, a guaranteed monthly amount is payabletill the end of policy term starting from month of notification of death of life insured

The amount of monthly benefit will be decided by the Policyholder at inception

The due date of this benefit shall be 1st day of every calendar month till the end of the policy term

Rider SA = Monthly Benefit chosen at Inception x Policy Term x 12

Minimum Monthly Benefit under this Rider= Rs. 1,000 p.m.

Maximum Monthly Benefit under this Rider = No limit [subject to (Monthly Benefit chosen at Inception x Policy Term

x 12) not exceeding Base SA] Entry Age: 18 55 years

Maximum age for expiryof rider benefit: 70 years

Rider Term = Policy term of Base product.

Rider PPT= Approximately half of the Policy Term of Base product

Other features

This rider can only be taken at inception subject to the prevailing underwriting requirements

The rider will be available to substandard lives with appropriate extra premium as per Avivas underwriting practices

No survival benefit is payable under this rider, however, if all due premiums have been paid in respect of this rider. a

special surrender value, as decided by Aviva, from time to time, shall be payable on premature policy surrender

If Aviva CE Rider premium crosses the limits prescribed by the Regulator on riders premium, then the riders SA

would be reduced accordingly subject to the minimum limit prescribed above. If the reduced rider SA is below the

minimum condition prescribed above then rider wont be offered.

If the policy becomes paid-up after all the due rider premiums of this rider have been paid, then also the benefits

relating to this rider will remain in-force till the expiry date of this rider. If due premium is not paid within grace period the policy lapses and Aviva CE Rider cover will cease immediately

KF - Aviva CE Rider

Aviva CE Rider

Key Feature Document

aviva lifesaver advantage

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