Best & Cheapest Term Plan in India: Aviva i-Life
Aviva i Life is a pure protection plan which is available for online purchase without any agent intervention. Pure Term Plans have Death Benefit if the life insured dies within the policy tenure and no Maturity Benefit if he survives the entire term. It is a vanilla term plan with no fringes attached.
Benefits of Aviva i-Life
- Death Benefit is applicable for this policy and the sum assured will be paid to the beneficiary in the family upon unfortunate death of the policy holder.
- No Maturity benefit is applicable for this plan
- Tax benefits under section 80C under the current income tax rule
Eligibility and Specifications
- Minimum sum assured is Rs. 25 lakhs, maximum there is no limit
- Minimum and maximum entry age is 18 and 55 respectively
- The maximum maturity age is 70
- The minimum policy term is 10 years and maximum 35 years
- Premium can be paid either annual or half yearly mode
- There is a 5% discount for the females who buy this term insurance product
Premium
The 1 crore policy under Aviva i-Life Term Plan comes around Rs. 22 per day according to their calculation and details of the various terms and duration. For a 30 year old individual non-smoking male the premium that he has to pay is Rs. 4358 for a 50 lakhs sum assured under this plan which makes it the cheapest insurance in India in terms of death benefit offered, but remember there will never going to be any maturity benefit available for such term plans ever.
How to Apply
To apply for the Aviva i-Life Term Plan just visit Aviva India website and use the internet explorer 6 and above for the same and go through the instructions to buy and submit all the necessary documents to them like photo identity card as well as income proof for their reference and once done you will be the proud owner of the term insurance plan and can relax as your family’s future is well protected during the time of unfortunate events.
Know more about the plan & buy it: Aviva i-Life
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