Aviva Life - Life Long Plan - Index Fund

NAV on (03 Apr 2025)

40.8523

Objectives

Aviva -LifeLong is designed to suit your individual requirements, no matter which life stage you are at, and changes as your needs change during your entire life. For the same premium, you can opt for a higher life cover (protection) and lower savings or lower life cover and higher savings. The choice of protection-savings mix is yours, and the decision can be based on your priorities and age. You can also cover your spouse under the same policy without any additional expense through a joint life policy (first death basis).
LifeLong offers a With Profits or 3 Unit Linked investment fund options, which give you the flexibility of choosing how your money should be invested in terms of the risk and the security of the return on the investment. You can invest 100% of your premiums either in With Profits Fund or in any of the Unit Linked Funds. The minimum allocation in each selected unit linked fund must be 10%.
Index Fund: To generate returns in line with the stock market index - NIFTY.
Asset allocation:
Debt & Money Market - 0% -20%
Equities -80 %-100%
Risk Profile : High

Features

1.Entry Age: 0 to 60 years (last birthday); in case any rider is opted for, the minimum and maximum entry ages are 18 and 55 years respectively. In the case of a joint life proposal, older age is considered for maximum entry age.
2.Risk Cover Commencement Age: In case the age at entry of the life insured is less than 7 years, then the risk cover will commence from the policy anniversary on or immediately after the life insured attains age 7
3.Policy Term: It is a whole life plan with premium payment age up to 85 years
4.Annual Premium: Minimum Rs. 10,000, Rs. 15,000 in case the age at entry is more than 45 years, if the Sum Assured opted for is more than 1 * (70-Entry Age) * Annual Premium, in case of a single life policy with rider/s or in case of a joint life policy
5.Minimum Sum Assured: 5 * Annual Premium
6.Maximum Sum Assured: Varies with age at entry. The formulas are shown in the table below ( T=70- entry age). Only minimum sum assured is allowed if one or more rider or joint life its chosen

Age at entry	Maximum Sum Assured
Up to 35 years	2 * T * Annual Premium
36 to 45 years	1 * T * Annual Premium
46 & above	0.5 * T * Annual Premium

7.Choice of riders: Accidental Death and Dismemberment Rider (AD&D) [UIN: 122C002V01], Critical Illness & Permanent Total Disability Rider (CI&PTD) [UIN: 122C001V01] and Hospital Cash Benefit Rider (HCB) [UIN: 122C003V01]
8.Loyalty Additions; Loyalty Additions on the 15th and 30th policy year

Benefits

Loyalty Additions
Loyalty Additions will be provided as an addition to the units pertaining to regular premiums at the end of the 15th and 30th policy year if all due premiums have been paid. The loyalty additions will be:

Annual Premium Paid in the first policy year	Loyalty Additions
Annual Premium Paid in the first policy year	At the end of 15th policy year	At the end of 30th policy year
Less than Rs. 25 Lacs	3%	3%
Rs. 25,Lacs or above but Less than Rs. 50 Lacs	4%	4%
Rs. 50,Lacs or above but Less than Rs. 1 Crore	5%	5%
Rs. 1 Crore and above	6%	6%

This addition is calculated with respect to units pertaining to regular premiums only. The units pertaining to top-up premium and additional regular premiums, if any, will not qualify for the loyalty addition.

Tax Benefit:
Tax Benefits will be as per Section 80c & Section 10(10D) of the Income Tax Act,1961.

Entry Age Details

Entry Age: 0 to 60 years (last birthday); in case any rider is opted for, the minimum and maximum entry ages are 18 and 55 years respectively. In the case of a joint life proposal, older age is considered for maximum entry age.

Premium Payment Term

Payment of specified regular premiums till age 85
You can pay premiums by cash at any Aviva Branch Office, cheque / demand draft payable to the company, direct debit or electronic clearing service (ECS) at yearly, half-yearly, quarterly or monthly (direct debit or ECS only) intervals.
There is a grace period of 30 days to pay your premium (for all premium frequencies).

Top-up Premium

You have the flexibility of making lump-sum investments through top-up premiums to increase the investment value of your policy without increasing the sum assured provided all due regular premiums till date are paid.
- The minimum top-up premium is Rs. 1,000. The total of top-up premiums cannot exceed 25% of the total regular premiums paid till date at any point in time
- The top-up premiums shall be invested in various investment funds in the same proportion as selected by you for your regular remiums.You also have the option to specify a different allocation proportion for top-up premiums.

Sum Assured Details

Minimum Sum Assured: 5 Annual Premium

Maximum Sum Assured: Varies with age at entry. The formulas are shown in the table below ( T=70- entry age). Only minimum sum assured is allowed if one or more rider or joint life its chosen

Age at entry	Maximum Sum Assured
Up to 35 years	2 * T * Annual Premium
36 to 45 years	1 * T * Annual Premium
46 & above	0.5 * T * Annual Premium

Investment Details of the Plan

LifeLong- offers 6 Unit Linked Fund options, which give you the flexibility of choosing how your money should be invested in terms of the risk and the security of the return on the investment. You can invest 100% of your premiums in any of the Unit Linked Funds. The minimum allocation in each selected Unit Linked Fund must be 10%.

Fund name and objective	Asset allocation		Risk profile
Index Fund: To generate returns in line with the stock market index-NIFTY	Debt & Money Market Equities	0-20% 80-100%	High
Enhancer Fund: To provide aggressive, long term capital growth with high equity exposure	Debt & Money Market Equities	0-40% 60-100%	High
Growth Fund: To generate long term capital appreciation with high equity exposure	Debt securities Money Market Equities	0 - 50% 0-40% 30 - 85%	High
Balanced Fund: To generate a balance of capital growth and steady returns	Debt securities Money Market Equities	50-90% 0-40% 0-45%	Medium
Protector Fund: To generate steady returns with a minimum exposure to equities	Debt securities Money Market Equities	60-100% 0-40% 0-20%	Low
Bond Fund: To generate a steady income through investment in high quality fixed income securities	Debt & Money Market Equities	100% 0%	Low

The Company, in line with the investment objective, may alter the above pattern, subject to Insurance Regulatory & Development Authority (IRDA) approval. Investments under the Index Fund shall be subject to the limits under the IRDA (Investment) Regulations, 2000 or any waiver granted by IRDA.

Withdrawal

You have the flexibility of making partial withdrawals after the first 3 policy years from the regular premium unit account. Any partialwithdrawal will first be made from the top-up premium account (if any and if eligible for withdrawal) followed by the regular premium account, if required.
If the policy holder is less than 58 years of age then the total amount of partial withdrawals made from the regular premium account cannot exceed 25% of the value of units pertaining to regular premiums as at the start of the policy year in which the partial withdrawal is being made. If the policyholder is of 58 years of age or more then this restriction does not apply.

Partial withdrawals from top-up premium account can be made after 3 years from the allocation date of that top-up premium
Partial withdrawals from units pertaining to regular premiums can be made after the policy anniversary on which the life insured attains 18 years of age whichever is later.
Only 4 partial withdrawals are allowed in a policy year.
The minimum partial withdrawal is Rs. 5,000

Premium allocation Charges

Premium Allocation Charge (100% -Allocation Rate)

Regular Premium

Policy Term	Allocation Rate
Year 1	40.00%
Year 2	60.00%
Year 3	92.50%
Year 4 & thereafter	95.00%

For monthly and quarterly frequencies, this rate will be 1 % lower

Top-up premium
Allocation Rate on top-up premium: 98%

Fund Management Charges

Fund Management Charges:
0.75% p.a. on Index Fund,
1.00% p.a. on Bond Fund,
1.00% p.a. on Protector Fund,
1.25% p.a. on Balanced Fund,
1.50% p.a. on Growth Fund and
1.75% p.a. on Enhancer Fund.
FMC will be applied on the fund while calculating NAV on a daily basis. The maximum FMC on any fund is 2% p.a. subject to prior approval by the IRDA

Mortality Charges

The Mortality Charge will apply on the Sum At Risk (SAR = Sum Assured minus fund value pertaining to regular premiums). It will be deducted by monthly cancellation of units from the unit account. The Mortality Charge shall remain guaranteed throughout the policy term.

Sample mortality charges per 1000 SAR for different ages are given in the table below

Age (Male)	25 years	35 years	45 years	55 years
Annual Mortality Charges per '000 SAR	1.31100	1.65025	3.76510	10.37530

Policy Administration Charges

Rs. 73 per month, which will increase by 5% p.a. on the 1st of January each year. PAC will be deducted monthly by cancellation of units from the unit account.

Rider Premium Charges

The rider charge will be made by monthly cancellation of units from the policy unit account. The AD&D rider charge will apply on AD&D Sum Assured, the CI&PTD rider charge will apply on the Sum at Risk, while the HCB rider charge varies by age and is a fixed amount. The rider charges may change with prior approval from the IRDA

Switching Charges

Switching Charges:0.5% of the amount switched subject to a maximum of Rs. 500 per switch.
The first 4 switches per policy year are, however, free of charge. Unavailed free switches cannot be carried forwardThe Company shall charge the service tax as applicable.
The service tax charge will be made by redemption of units from the policy unit account.

Surrender Charges

Surrender Charge: Only on regular premiums

Particulars	Surrender charge as % of value of units pertaining to regular premium
If less than one policy year's premium has been paid	100%
If exactly one policy premium has been paid	90%
If more than one but upto two policy years' premiums has been paid	75%
If more than two but upto three policy years' premiums has been paid	30%
If more than three but upto four policy years' premiums has been paid	20%
If more than four but upto five policy years' premiums has been paid	16%
If more than five but upto six policy years' premiums has been paid	13%
If more than six but upto seven policy years' premiums has been paid	10%
If more than seven but upto eight policy years' premiums has been paid	7%
If more than eight but upto nine policy years' premiums has been paid	4%
If more than nine but upto ten policy years' premiums has been paid	2%
If more than 10 policy years' premiums has been paid	NIL

Returns (as on 03-Apr-2025)

Period	Absolute (%)	Annualised (%)
1 Week	-1.1	0
1 Month	5	82.8
3 Months	-3.2	-12.3
6 Months	-8.1	-15.8
1 Year	3.4	3.4
2 Years	34.3	15.8
3 Years	36.7	11
5 Years	204.2	24.9

NAV Chart

Historic Graph:

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52-week High

₹46.1012

26-Sep-2024

52-week Low

₹38.5787

09-May-2024

Claim & Solvency Ratio

Claim Ratio	Solvency Ratio
99% (2023-24)	2% (March 2024)

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What is health insurance? +

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Health insurance helps protect you from high medical costs. It provides access to medical care when you need it, helping to pay for doctor visits, hospital stays, surgeries, prescription medications, and other health-related services.

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What is a Health Savings Account (HSA)? +

A tax-advantaged account for people with high-deductible health plans (HDHPs). The funds roll over from year to year and can be used for qualifying medical expenses.

What is a Flexible Spending Account (FSA)? +

A tax-advantaged account for people with low-deductible health plans (LDHPs). The funds roll over from year to year and can be used for qualifying medical expenses.

What is a Health Maintenance Organization (HMO)? +

An HMO is a type of health insurance plan that requires you to choose a primary care physician (PCP) and get referrals from them to see specialists. HMOs often have lower premiums and out-of-pocket costs but offer less flexibility in choosing providers.

What is a Preferred Provider Organization (PPO)? +

A PPO is a health insurance plan that offers more flexibility in choosing healthcare providers and doesn’t require referrals to see specialists. You can see any doctor, but you’ll pay less if you use in-network providers.

What is the difference between a Health Savings Account (HSA) and a Flexible Spending Account (FSA)? +

HSA: A tax-advantaged account for people with high-deductible health plans (HDHPs) The funds roll over from year to year and can be used for qualifying medical expenses. FSA: A tax-advantaged account for people with low-deductible health plans (LDHPs) The funds roll over from year to year and can be used for qualifying medical expenses.

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A pre-existing condition is a medical condition that you had before you got your health insurance. It could include things like diabetes, high blood pressure, or heart disease.

Can I cancel my health insurance at any time? +

Yes, you can cancel your health insurance plan at any time. However, if you cancel outside the open enrollment period, you may not be able to get another plan until the next enrollment period unless you qualify for a Special Enrollment Period.

Are prescription drugs covered by health insurance? +

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What is preventive care? +

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If you don’t have health insurance, you can still access some health care services, such as emergency care, in-network doctors, and in-network hospitals. You may be eligible for Medicaid, which provides some health care services at no cost to you.

What is life insurance? +

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What are the different types of life insurance? +

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What is the difference between beneficiaries and policyholders? +

The policyholder is the person who owns the life insurance policy and pays the premiums, while the beneficiary is the person or group that receives the death benefit when the policyholder passes away.

Can I change my beneficiaries? +

Yes, you can change your beneficiaries at any time during the life of the policy, as long as the policy is in force and you follow the correct procedure with the insurance company.

What is the contestability period? +

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Does life insurance cover accidental death? +

Some life insurance policies include accidental death coverage, while others may require a separate rider for this benefit. Be sure to review your policy to understand what’s covered.

Can I cancel my life insurance policy at any time? +

Yes, you can cancel your life insurance policy at any time, provided you follow the correct procedure with the insurance company.

What is cash value? +

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How do I borrow against cash value? +

You can borrow against the cash value of your life insurance policy, but it will need to be repaid, and any unpaid loan will reduce the death benefit.

What is the difference between whole life and universal life insurance? +

Whole life insurance provides coverage for a specific period (e.g., 10, 20, or 30 years) and builds cash value over time. Universal life insurance offers lifetime coverage with a death benefit and also builds cash value over time.

How are life insurance premiums determined? +

Life insurance premiums are based on factors like age, health, lifestyle (e.g., smoking), coverage amount, and type of policy. Generally, younger, healthier individuals pay lower premiums.

Can I borrow money from my life insurance policy? +

If you have a whole life or universal life policy, it may build cash value over time. You can borrow against this cash value, but it will need to be repaid, and any unpaid loan will reduce the death benefit.

What happens if I stop paying my life insurance premiums? +

If you stop paying premiums, your policy may lapse. For permanent policies like whole or universal life, the cash value may cover the premiums for a time, but eventually, if premiums are not paid, the policy will end.

What is auto insurance? +

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There are several types of auto insurance coverage, including liability, collision, comprehensive, uninsured/underinsured motorist, and additional coverage like roadside assistance and collision damage waiver.

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The amount of coverage you need depends on factors such as the value of your car, your driving habits, your state's legal requirements, and whether you own or lease your vehicle. A good starting point is to meet your state's minimum required coverage, but you may want additional coverage for added protection.

Can I cancel my auto insurance policy at any time? +

Yes, you can cancel your auto insurance policy at any time, provided you follow the correct procedure with the insurance company.

What is the difference between liability and comprehensive coverage? +

Liability coverage covers the damages and injuries caused by accidents, while comprehensive coverage also covers non-accident damages, such as theft or vandalism.

How do I choose the right auto insurance policy? +

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What factors affect my auto insurance premium? +

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What is a deductible? +

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What is the difference between comprehensive and collision coverage? +

Collision coverage pays for repairs to your vehicle after a collision with another vehicle or object, regardless of who is at fault. Comprehensive coverage covers non-collision incidents, such as theft, vandalism, or damage from natural disasters.

Can I get uninsured/underinsured motorist coverage? +

Yes, uninsured/underinsured motorist coverage is available in some states. This coverage provides financial protection for you if another driver is uninsured or underinsured.

Is auto insurance required by law? +

Yes, in most states, you are required to have a minimum level of liability insurance. Some states also require additional coverage like Personal Injury Protection (PIP) or uninsured motorist coverage. The requirements vary by state, so it’s important to check your local laws.

What happens if I don’t have auto insurance? +

If you drive without insurance, you risk facing legal penalties, fines, and the possibility of your driver's license being suspended. If you're involved in an accident, you could be held responsible for the damages.

Can I add other drivers to my auto insurance policy? +

Yes, you can add other drivers, such as family members or friends, to your policy. However, their driving record and age may affect your premium. It's important to inform your insurer about all the drivers in your household.

What should I do if I get into an accident? +

If you're in an accident, follow these steps: Ensure safety by moving to a safe location if possible. Call the police and file a report. Exchange contact and insurance information with the other driver(s). Take photos of the accident scene, vehicle damage, and injuries. Notify your insurance company about the accident as soon as possible.

What is home insurance? +

Home insurance is a contract between you and an insurance company that provides financial protection against damage or loss caused by natural disasters, theft, or other incidents.

What types of home insurance coverage are available? +

There are several types of home insurance coverage, including flood, fire, burglary, and liability. You may also have coverage for water damage, mold, and other property damage.

How much home insurance do I need? +

The amount of home insurance coverage you need depends on the value of your property, the type of coverage you want, and your insurance provider. You may also need additional coverage for water damage, mold, and other property damage.

Can I cancel my home insurance policy at any time? +

Yes, you can cancel your home insurance policy at any time, provided you follow the correct procedure with the insurance company.

What is the difference between flood and fire coverage? +

Flood coverage covers damage caused by floods, while fire coverage covers damage caused by fires.

How do I choose the right home insurance policy? +

When selecting home insurance, consider factors such as the type of coverage you need, the value of your property, and your insurance provider.

What factors affect my home insurance premium? +

Factors such as the type of coverage you need, the value of your property, and your insurance provider can significantly impact your premium.