The best time to buy a term insurance plan from any life insurance policy company is as early as possible. Doing so helps you lock in lower premiums while providing long-term financial security for your loved ones throughout the chosen policy term.

The Aviva Signature 3D Term Plan - Platinum offers two options for financial protection: Life Protect and Credit Protect. These term insurance options provide different benefits based on the life insured's circumstances.

Life Protect:

If the insured person passes away during the policy term and all premiums are paid, the plan will pay a lump sum amount (Base Sum Assured) to the nominee. If the insured survives the policy term, no payout is made.

Death Benefit: The death benefit will not be less than 7 times the Annualized Premium*, for regular/limited premium policy subject to a minimum of 105% of Total Premiums Paid till date of death. In case of death of the life insured during the policy year the due unpaid premium up to the next policy anniversary shall be deducted from the Death Benefit.

Credit Protect:

This term life insurance plan helps cover loan repayments if the insured passes away. The payout is based on a Sum at Risk Schedule that reduces each year, matching the decreasing loan balance.

Death Benefit: The minimum death benefit other than single premium policy will not be less than 105% of Total Premiums Paid till date of death. In case of death of the life insured during the policy year the due unpaid premium up to the next policy anniversary shall be deducted from the Death Benefit.

Your life cover should be based on your current annual income. As a general rule, it’s recommended to choose a life cover that is at least 20 times your annual income.

Your policy term should be the number of years until your retirement. This assumes that by then, you’ll have cleared all your financial responsibilities. If you're unsure about your retirement age, you can choose a Whole Life option instead. Alternatively, you can pick a policy term that suits your budget and premium preferences.

To apply for the Aviva Term Insurance Plan, you will need to provide the following documents:

• Proof of Identity/Address (such as an Aadhaar card, PAN card, driving license, voter ID, or passport)
• Proof of Income (like salary slips, income tax returns, or bank statements)
• A recent passport-sized photograph

For the Aviva Term Plan, you can buy the plan if you're at least 25 years old. The maximum age is 60 years for Life Protect and 50 years for Credit Protect.