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Aviva LifeShield Term Plan


This term plan allows the policyholder to increase the sum assured once on two- occasions- within three months of marriage and within three months of birth of a  child.

What does it do?

The nominees receive death benefit in the event of death of policyholder. No riders are available with this plan and the sum assured can be increased only up to 50 per cent with a Rs 10 lakh limit. The insurance cover can be increased only if the policy has at least five years to maturity.


There is an option to increase sum assured at a later date. One can avail a premium rebate on sum assured above Rs 10 lakh.
There is an additional discount in case policyholder also takes Aviva Pension Plus policy.
It offers 40 years of policy term, which is way above the average 30 years offered by other policies.


The sum assured is limited to Rs 50 lakh and there are no riders in the policy.
There are no premium discounts for women.

Suited for

This policy is suitable for those under 40 years of age, expecting a need to increase the sum assured with increase in dependents after marriage and children.

Our View

A pure risk term plan is a definite buy for everyone.
This policy is useful for those who are yet to bear financial responsibilities of a family.

Entry Age (years) 
Maximum Maturity Age (years)65
Policy Term (years) 
Sum Assured (Rs) 
Minimum Premium (Rs) 
Premium Payment FrequencyAnnually, Semi Annually, Quarterly ,Monthly (via ECS only)
Premium Payment TermRegular (equal to policy term)
Policy CoverCover remains fixed for the tenure of the policy
Other Features 
Free Look CancellationIn case, you are not satisfied, you may choose to cancel the policy within 15 days of receiving the policy documents. Upon such cancellation, you will be paid back the premiums, minus the cost of stamp duty, medical reports and proportionate premium for the period for which the risk was covered.
Grace PeriodYou are allowed to pay premiums within 15 days for monthly and within 30 days for other premium modes from the due date. If a due premium is not received within the grace period, your policy will lapse and the life insurance cover will be terminated.
Lapsed Policy ReinstatementYou can reinstate your lapsed policy any time (within 2 years from the due date of the first unpaid premium) by paying all the due premiums and undergoing underwriting requirements, if any.
Tax BenefitsSection 80C, 10 (10D) of the Income Tax Act, 1961 would apply.
ExclusionsIn case of death by suicide during the first policy year, or within one year from the date of reinstatement, no death benefit is payable.
Customer Service 
AddressAviva Life Insurance Company India Ltd.
Aviva Tower, Sector Road, Opp Golf Course, DLF Phase V, Sector 43, Gurgaon 122 003, Haryana
Mail To[email protected]
Call On1800-180-22-66 between 8 am to 8 pm; Monday to Saturday
Annual Premium Option for Male and Female who is not an Aviva Pension Plus policyholder
Policy Term (in years)Age (in years)
Figures indicate premiums on a Rs 20 lakh policy for an age over different policy tenures exclusive of service tax
Annual premium Option for Male and Female who is an Aviva Pension Plus policyholder
Policy Term (in Years)Age (in years)
Figures indicate premiums on a Rs 20 lakh policy for an age over different policy tenures exclusive of service tax