Overview

Aviva Affluence is a Unit Linked plan which helps you to live life to the fullest and demand the maximum out of your finances. Aviva Affluence allows you to pay for a limited payment term and stay invested to meet long term financial milestones, be it for your child or your retirement. You can optimize the returns by choosing from 7 fund options and change the pattern with varying risk appetite. Aviva Affluence ensures you plan today and meet your family’s desires without worrying about the future.

A plan that will help you 'CARE'

Customize 

•     Pick your policy term to match your long term goals

•     Choose to pay premiums as per your convenience for 7, 10, 15 years or for the entire policy tenure 

•     Opt from 7 funds and invest in the fund or combination of funds, that best suits your risk profile 

•     Elect to enter the equity market on a weekly or monthly manner through Systematic Transfer Plan 

Access

• Easy access to your money during unexpected needs through partial withdrawals 

• Handle your planned needs through systematic partial withdrawals

• Park your windfall gains in the same instrument through top ups for future 

Reward

• Get rewarded for staying invested through periodic Milestone Boosters and Maturity Boosters

Ensure Protection

•     Secure Sum Assured as a minimum payout in case of your unfortunate death 

•     Additional assured amount in case of accidental death 

Specifications

Entry Age (last birthday)	Minimum:      2 years Maximum:   50 years
Maturity Age (last birthday)	Minimum Maturity Age: 18 years Maximum Maturity Age depends on the Premium Payment Term(PPT) Premium Payment Term (PPT) Maximum Maturity Age 7 / 10 / 15 years 65 years 16 to 30 years 70 years
Policy Term	15 to 30 years, subject to minimum & maximum maturity age
Premium Payment Term (PPT)	7 / 10 / 15 or Equal to Policy Term
Premium	Regular Premium: Minimum:             Policy Term Premium Payment Term Annualized Premium       (in Rs.) 15 -17 years 10, Equal to Policy term 2,00,000 18 & above 7 years 1,50,000 10,15, Equal to Policy term   1,00,000 Maximum:           No limit, subject to board approved underwriting Top-up Premium: Minimum:            Rs.5,000 Maximum:           No limit, subject to  board approved underwriting Sum of Top-up Premiums should not exceed sum of Regular Premiums paid
Sum Assured	Sum Assured is a multiple of Annual Premium and depends upon Policy Term and age: Minimum Sum Assured: Policy Term (in years) Premium Paying Term Minimum Sum Assured (in Rs.) 15-17 10, Equal to Policy Term 20,00,000 18 & above 7 15,00,000 10, 15, Equal to Policy Term 10,00,000 Minimum Top up Sum Assured = 6250 where Minimum Sum Assured: 10 times the Annualized Premium Top-up Premium Sum Assured: 1.25 times the Top-up Premium Maximum Sum Assured: Maximum Sum Assured would be subject to Board Approved Underwriting Policy Entry Age of life insured (last birthday) PPT ( Years) Maximum Sum Assured Multiple <45 years 7 & 10   10 OR 0.5*Policy Term, whichever is higher   15 to 30 Equal to Policy Term >=45 years 7 & 10 10 15 to 30 Equal to {Policy Term minus 5}
In-built Accidental Death Benefit	In-built Accidental Death Sum Assured shall be equal to the Base Sum Assured, subject to maximum of Rs. 50 lacs(per life), including all existing Accidental Death Benefit cover issued by Aviva.
Premium Payment Frequency	Yearly Only

 

Benefits That I Will Receive

Comprehensive Protection: In case of the unfortunate death of the life insured, the nominee will receive

• Sum Assured OR the fund value pertaining to regular/limited premiums OR 105% of regular premiums paid, whichever is highest of the three.
  • In case top up premiums were paid in the policy, there would be an additional payout of top-up Sum Assured OR Fund Value pertaining to top-up premiums OR 105% of top up premiums paid, whichever is highest of the three.
  • In case of death because of an Accident between ages 18 to 70 within the policy term, an additional payout on account of accidental death benefit is also payable. The amount of Accidental Death Sum Assured shall be specified in the Policy Schedule.

• Increasing Milestone Boosters (IMB): This plan provides “Increasing Milestone Boosters” (Regular Loyalty Additions) when the policy is continued by paying due premiums till the relevant policy anniversary date for allocation of IMB. IMB additions are between 0.5% to 0.65% of fund value, credited every 5^th year, starting at the end of year-10, except at maturity

Maturity Benefit: Get the Fund Value pertaining to regular premiums, top-up premiums, if any, and the Maturity Booster Additions  on survival till maturity to achieve your important Milestones.

Maturity Booster Addition is between 0.65% to 0.8% of Fund Value (excluding top-up fund value), depending upon the premium payment term.

The maturity Booster Addition is payable to all policies that attain maturity, including the paid-up policies.

Fund Options:

7 fund options to choose basis the risk appetite:

Balanced Fund-II, Bond Fund-II, Enhancer Fund-II, Growth Fund-II, Infrastructure Fund, Protector Fund-II, PSU Fund

Features that provide Flexibility

• Systematic Transfer Plan (STP): Option to avail rupee cost averaging –  from Protector Fund–II to Enhancer Fund-II, including Reverse STP in the last two years before maturity
• Switching: Advantage of managing your funds free of cost – 12 free switches every year
• Premium Redirection on policy anniversary
• Partial Withdrawal after 5 years: Access your money to cope with unforeseen financial requirements
• Systematic Partial Withdrawal after 5 years: You have the advantage to cope with series of expenses

Easy Steps to Plan

Step 1	Decide the corpus you wish to build for your long term needs and the time when the same should be available. This will influence the choice of premium, premium paying term and the Policy Term.	Policy Term (PT): 15 to 30 years Premium Paying Term (PPT): 7/10/15 or Equal to Policy Term  Minimum maturity age: 18 years Maximum maturity age: 70 years
Step 2	Choose the level of protection you desire. This should be reflected through: •Level of Life Cover (Sum Assured)  you choose	•Life Cover - 10 to 30 times of annual premium depending on age, policy term and Premium paying term
Step 3	Choose the amount of premium you wish to pay which will be determined by steps 1 and 2.	•Minimum Annual Premium: Rs. 1,00,000; Maximum: No limit •Premium frequency: Yearly
Step 4	Choose the funds you wish to invest in. The funds available for your investment are:	Balanced Fund-II, Bond Fund-II, Enhancer Fund-II, Growth Fund-II, Infrastructure Fund, Protector Fund-II, PSU Fund For details refer to the “investment options” section in product brochure

What are the charges I am paying?

Premium Allocation Charge:

Policy Year	Premium Allocation Charge
	Regular Premium	Top-up Premium
1st	9%	2%
2nd	7%
3rd to 10th	6%
11th Onwards	2%

 

 

 

 

 

 

 

 

 

Fund Management Charge:

1.35% per annum for all 7 funds

FMC for Discontinued Policy Fund would be 0.50% p.a.

Policy Administration Charge:

Policy Year	Policy Administration Charge  (per month)
1st	Nil
2nd to 5th	0.02% of Annual Premium
6th	0.20% of Annual Premium

 

 

 

 

 

 

 

 

Policy Administration Charge of 0.20% of Annual Premium p.m. shall be increased by 2.50% per annum on each policy anniversary from 7^th Policy Year onwards. This charge cannot exceed Rs.400 per month

 

Mortality Charge:

Mortality charge will be applied on Sum At Risk, which is the difference between the amount of Death Benefit Payable minus the Fund Value as on deduction of this charge, separately for Base and Top-up.

 

Discontinuance Charge:

This charge will be deducted from the policy unit account, in case the policy is discontinued within first 5 years. There will be no discontinuance charge on fund value pertaining to Top-up premium, if any.

 

Switching Charge:

There are no charges on the first 12 switches in a policy year; subsequent switches are charged at 0.50% of amount switched, subject to a minimum of Rs. 25 and maximum of Rs 500 per switch.

 

Miscellaneous Charges:

Taxes including but not limited to Goods & Services Tax, Cesses as applicable shall also be levied as notified by the Government from time to time. Tax laws are subject to change.