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The Aviva Protection Plus plan is a simple, flexible, and affordable life insurance solution designed to provide comprehensive financial protection for your loved ones. This term insurance plan ensures that your family remains financially secure in case of any unforeseen event. One of its standout features is the Return of Premium option, which guarantees that all premiums paid are returned if the policyholder survives the policy term. With customizable coverage options, this plan caters to different financial needs, ensuring peace of mind and financial stability. Ideal for individuals seeking a cost-effective yet reliable life insurance plan, Aviva Protection Plus helps safeguard your family’s future while offering the benefit of premium returns upon policy maturity. Secure your financial well-being today with a plan that blends protection and savings seamlessly.
Key Benefits of Buying Aviva Protection Plus
Return of Premium
The Aviva Protection Plus plan offers a Return of Premium (ROP) benefit, ensuring that all premiums paid are returned if the policyholder survives the policy term. This feature combines the benefits of financial protection and savings, making it a valuable investment for securing your family’s future while ensuring a guaranteed return.
Enriched Protection
This plan provides flexible coverage options, allowing policyholders to customize their plans according to their specific needs. With the ability to choose between term insurance and return of premium proportions, you can create a personalized financial protection strategy that aligns with your long-term goals.
Savings Booster – Unique Feature
Unlike standard term plans, Aviva Protection Plus offers a Savings Booster, allowing you to receive 110%, 120%, or 125% of the total premiums paid upon policy maturity. This ensures that you get more than just a return of premiums—helping you build additional financial security.
Tax Benefits
Enjoy tax savings of up to Rs. 1.5 lakh under Section 80C and Section 10(10D) of the Income Tax Act, 1961. This makes Aviva Protection Plus not just a protective measure but also a smart tax-saving instrument.
Key Features of Aviva Protection Plus
Enriched Protection Option
The Enriched Protection Option enhances life insurance coverage while ensuring a Return of Total Premiums Paid if the policyholder survives till maturity. This feature provides flexibility, allowing individuals to allocate their premiums in two ratios: 50:50 (TROP: Term Ratio) or 20:80 (TROP: Term Ratio). This ensures that policyholders can balance their term insurance and savings benefits based on their financial goals.
Savings Booster Option
The Savings Booster Option provides life insurance coverage throughout the policy term while ensuring the return of total premiums paid (excluding taxes and extra premiums, if any) upon survival till maturity. Policyholders can opt for 110%, 120%, or 125% of the total premiums paid, ensuring additional financial security and boosting their savings at policy maturity. This unique feature makes Aviva Protection Plus stand out among other term insurance plans.
Rebate for High Sum Assured
Aviva Protection Plus offers premium rebates for policies with higher Sum Assured amounts. This makes it an attractive option for individuals looking for extensive financial coverage while reducing their overall premium costs.
Life Coverage Up to 80 Years
With Aviva Protection Plus, policyholders can secure their loved ones with life insurance coverage up to 80 years of age. This ensures long-term financial protection and peace of mind, making it an ideal choice for individuals looking for extended coverage.
Flexible Premium Payment Modes
The policy provides multiple premium payment frequency options, including One-Time, Monthly, Quarterly, Half-Yearly, and Yearly payments. This flexibility allows policyholders to choose a payment method that best suits their financial situation.
Tax Benefits
Aviva Protection Plus provides tax benefits on both premium payments and payouts under Sections 80C and 10(10D) of the Income Tax Act, 1961. These tax benefits help policyholders save on taxes while ensuring comprehensive life insurance coverage.
Conclusion:
Aviva Protection Plus is a comprehensive and flexible life insurance plan designed to offer financial security and savings benefits. With features like the Return of Premium, Savings Booster Option, and Enriched Protection, policyholders can customize their coverage based on their needs. The plan also provides life coverage up to 80 years, rebates for high Sum Assured, and multiple premium payment modes for added convenience. Additionally, tax benefits under Sections 80C and 10(10D) make it a tax-efficient investment. Choosing Aviva Protection Plus ensures that your loved ones are financially protected while securing your long-term savings goals.
Key Takeaways
- Return of Premium Benefit: Get back up to 125% of total premiums paid upon policy maturity.
- Flexible Coverage Options: Choose between Enriched Protection for enhanced coverage or Savings Booster for higher returns.
- Life Coverage Up to 80 Years: Ensures long-term financial security for your loved ones.
- Multiple Payment Modes: Pay premiums monthly, quarterly, half-yearly, yearly, or as a lump sum.
- High Sum Assured Rebate: Avail discounts for opting for a higher coverage amount.
- Tax Benefits: Enjoy savings under Sections 80C and 10(10D) of the Income Tax Act.
- Financial Security: Ensures comprehensive protection while securing your future.
Rahul Khanna
