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Aviva i-Shield

Eligibility  
Entry Age (years)  
Minimum 18
Maximum 55
Maximum Maturity Age (years) 65
Policy Term (years)  
Minimum 10
Maximum 25
Sum Assured (Rs)  
Minimum 15 Lacs
Maximum 5 Crores
Premium Payment Frequency Yearly, Half-yearly,Monthly
Premium Payment Term Equal to Policy Term
Premium Factor (multiply with annual premium) Half Yearly: 0.5108 times annual premium; Monthly: 0.0871 time annual premium
Policy Cover Sum Assured depends on the year of death
Other Features  
Free Look Cancellation In case, you are not satisfied, you may choose to cancel the policy within 30 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 Period You are allowed to pay premiums within 30 days from the due date.If the premium mode is monthly,then only 15 days will be allowed.
Lapsed Policy Reinstatement If policyholder does not pay premium during first three years, the policy will lapse. A reinstatement period of two years is allowed. However if policy is not revived within the stated time period, the policy will terminate without any benefits.
In case non-payment of premium takes place after first three policy years, the policy does not lapse rather it continues as a paid up policy with reduced benefits. Again a reinstatement period of two years will be allowed. If the policy is not revived, it does not terminate, it will continue as paid- up policy. Reduced death benefit will be mentioned in the policy document.
Tax Benefits Section 80C, 10 (10D) of the Income Tax Act, 1961 would apply.
Exclusions In case of death of the life insured due to actual or attempted suicide within one year from the date of commencement or the date of reinstatement of the policy, only surrender value,if any will be payable
Surrender Value Surrender is allowed after completion of three policy years. On surrender, the company will pay higher of the Guranatedd Surrender Value (GSV) or Special Suurender Vlaue(SSV).
GSV = 30% of the sum of premiums paid till date exclusive of taxes and extra premiums if any.
SSV = 110% of premiums paid * SSV factor exclusive of taxes and extra premiums if any.
Special surrender value factor may change with time after approval from IRDA.
Customer Service  
Address Aviva Life Insurance Company India Limited, Aviva Tower,Sector Road,Opposite Golf Course, DLF Phase-V,Sector-43, Gurgaon-122003, Haryana, India
Mail To avivaindia.com
Call On 1800 180 2244