Aviva Life - Little Master Plan - Balanced Fund

NAV on (03 Apr 2025)

116.2526

Objectives

Aviva Little Master is a comprehensive, unit-linked endowment plan which covers the life of the parent as well as the child. It offers you 4 unit linked fund options. Aviva Little Master has several firsts which make it an extremely competitive product; a waiver of premium in the event of the parent s death, a comprehensive health benefit (CHB) rider which covers 18 critical illnesses, guaranteed additions of up to 7% of the units at maturity as well as a choice of riders which cover you against accidental death, critical illnesses and pay out an income in case of death.
Balanced Fund:To generate a balance of capital growth and steady returns.

Features

1.Entry Age: Child-0 to 17 years; Parent-18 to 45 years (last birthday)
2. Policy Term: 8 to 25 years, subject to the minimum maturity age of the child being 18 years & maximum maturity age of the child and parent being 25 years and 70 years respectively
3. Annual Premium: Minimum - Rs. 15,000 for policy terms of 10 years and above; Rs.25,000 for policy terms of less than 10 years, Maximum-No limit
4. Sum Assured: Maximum higher of (0.5 * Policy Term or 5)* Annual Premium, Minimum 5 * Annual Premium
5. Investment Fund options: 4 Funds - Growth, Balanced, Protector and Secure
6. Loyalty Additions: Up to 8% additional units guaranteed at maturity
7. Additional Protection: Choice of Accidental Death Benefit [UIN: 122C005V01], a Comprehensive Health Benefit [UIN: 122C007V01] and/or an Income Benefit Rider [UIN: 122C008V01]
The parent is the insured policy-holder in this policy and the child is the life insured. The policy automatically vests in the child when the child completes 18 years of age.

Benefits

Loyalty Additions On Maturity

Aviva Little Master provides additional units at maturity. This addition is calculated with respect to units pertaining to regular premiums only, provided all due regular premiums have been paid. The units pertaining to top-un nremium. if any will not qualify for the loyalty addiion for the loyalty addition.

Policy Term (years)	Loyalty Addition at maturity
Policy Term (years)	If Annual Regular Premium is less than Rs. 25,000	If Annual Regular Premium is greater or equal to Rs. 25,000
Less than 10	-	1%
10-14	3%	4%
15-19	5%	6%
20-24	6%	7%
25	7%	8%

Entry Age Details

Entry Age: Child-0 to 17 years; Parent-18 to 45 years (last birthday)

Premium Payment Term

Payment of specified regular premiums throughout the premium payment term 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.

Top-up Premium

You have the flexibility of making lump-sum investments through top-up premiums to increase the investment value of your policy withoutincreasing 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 tilldate 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 premiums. You also have the option to specify a different allocation proportion for top-up premiums.

Sum Assured Details

Sum Assured: Maximum higher of (0.5 * Policy Term or 5)* Annual Premium, Minimum 5 * Annual Premium

Investment Details of the Plan

Aviva Little Master - offers 4 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
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 minimum exposure to equities	Debt securities Money Market Equities	60-100% 0-40% 0 - 20%	Low
Secure Fund: To generate steady returns with a guaranteed minimum return and a minimum exposure to equities	Debt securities Money Market Equities	60-100% 0-40% 0 - 20%	Low

The Company, in line with the investment objective, may alter the above pattern, subject to Insurance Regulatory & Development Authority (IRDA) approval.

Withdrawal

You have the flexibility of making partial withdrawals. This option to make partial withdrawal is available 4 times in a policy year. All the partial withdrawals are first to be made from the top-up premium account and then from the regular premium account, if any and if eligible.

Partial withdrawal from units pertaining to top-up premium(s) are allowed under the policy, subject to the following conditions/rules:

Only the policy-holder (before vesting of the policy) or the child (after vesting of the policy in him/her) can make partial withdrawals.

Partial withdrawal can be made from the top-up premium unit account only after completion of three years from the date of
allocation of that top-up premium.

The sum assured will not change on making partial withdrawals from top-up premium account.

The partial withdrawals from units pertaining to regular premiums are permissible under the policy during the last 5 policy years subject to the following conditions/rules:

Only the policy-holder (before vesting of the policy) or the child (after vesting of the policy in him) can make partial withdrawals.

Partial withdrawals are permissible only under the following limits.

Time frame	Partial Withdrawals as a % of units pertaining to regular premiums at the beginning of the year
5th last policy year	Up to 15%
4th last policy year	Up to 15%
3rd last policy year	Up to 15%
2nd last policy year	Up to 75%
Last policy year	Up to 75%

If in any year the optional withdrawal is not exercised, the same limit can be carried forward for the subsequent years during the (X-3rd) and
(X-2nd) policy year (where X is policy term) and accordingly up to 30% or 45% of the value of units pertaining to regular premiums as at the beginning of the policy year in which the withdrawal is made.

On death of the child, the sum assured will be reduced by all the partial withdrawals made within two years prior to the date of death.

Premium allocation Charges

Premium Allocation Charge (100%-allocation rate):

Regular Premium

Policy Term	Allocation Rate
(Year)	1st Year	2nd Year	3rd Year	4 Year Onwards
8-10	80%	91%	91%	98%
11-15	80%	89%	89%	98%
16 and above	80%	84%	84%	98%

For monthly and quarterly frequencies, this rate will be 1% lower for all premium slabs.

Top-up premium

Allocation Rate on top-up premium: 98%

Fund Management Charges

Fund Management Charges:
1.00% p.a on Protector Fund,
1.25% p.a. on Balanced Fund,
1.50% p.a. on Secure Fund and
1.50% p.a. on Growth 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 lRDA

Mortality Charges

The Mortality Charge will apply on the Sum At Risk (SAR). For the parent, SAR is defined as the Sum Assured plus the sum of all future premiums payable and for the child, SAR is defined as Sum Assured minus value of units 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 Sum At Risk for different ages are given in the table below:

Age (Male)	7 years	10 years	20 years	30 years	40 years	50 years
Annual Mortality Charges per '000 SAR	0.46000	0.47725	1.16840	1.34665	2.47250	6.36180

Policy Administration Charges

Policy Administration Charges:Rs. 54 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

Rider Premium Charges:The rider charge will be made by monthly cancellation of units from the policy unit account. The ADB, CHB and IB rider charges will apply on their respective Sum Assured figures. The rider charge may change with prior approval by 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 forward
The Company shall charge the service tax as applicable. The service tax charge will be made by redemption of units from the policy unitaccount.

Surrender Charges

Surrender Charge:

Particulars	Surrender charge as a % of value of units pertaining to regular premium
If upto one policy years' premium is paid	100%
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	50%
If more than three but upto four policy years' premiums has been paid	25%
If more than four but upto five policy years' premiums has been paid	10%
If more than five policy years' premiums has been paid	NIL

Returns (as on 03-Apr-2025)

Period	Absolute (%)	Annualised (%)
1 Week	-0.1	0
1 Month	5.9	101.9
3 Months	3.2	13.9
6 Months	0.9	1.8
1 Year	8.7	8.7
2 Years	25.8	12.1
3 Years	27.5	8.4
5 Years	86.9	13.3

NAV Chart

Historic Graph:

From

52-week High

₹116.818

26-Sep-2024

52-week Low

₹105.9754

18-Apr-2024

Claim & Solvency Ratio

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

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What is health insurance? +

Health insurance is a type of coverage that pays for medical and surgical expenses incurred by the insured. It may also provide coverage for other types of health-related costs, such as prescription drugs, mental health services, and preventive care.

Why do I need health insurance? +

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.

What is a premium? +

A premium is the amount you pay for your health insurance every month. Depending on your plan, the premium may vary based on factors like age, location, and level of coverage.

What is a deductible? +

A deductible is the amount of money you must pay out-of-pocket before your health insurance starts covering your medical expenses. For example, if you have a deductible of $1,000, you must pay $1,000 out-of-pocket before your insurance starts covering your medical bills.

What are copayments and coinsurance? +

Copayment (copay): A fixed amount you pay for a covered health care service, typically when you get the service. Coinsurance: The percentage of the cost you pay for covered health services after you've paid your deductible. For example, if your coinsurance is 20%, you pay 20% of the bill, and the insurance company pays the remaining 80%.

What is an out-of-pocket maximum? +

The out-of-pocket maximum is the maximum amount you can spend on your health insurance. If you exceed this amount, your insurance company will pay 100% of your medical expenses.

What is the difference between in-network and out-of-network providers? +

In-network providers: Health care providers that have a contract with your health insurance plan to provide services at negotiated rates. Out-of-network providers: Providers that don't have a contract with your insurance plan. Services from these providers may cost more or not be covered at all.

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The Special Enrollment Period (SEP) is a special time during the year when you can sign up for or make changes to your health insurance plan. If you miss this period, you may have to wait until the next one unless you qualify for a Special Enrollment Period (e.g., due to a life event like marriage or having a baby).

Can I keep my doctor with health insurance? +

If you have a preferred doctor, it’s important to check if they are in-network with your insurance plan. If they are not in-network, you may need to pay more out-of-pocket, or you may have to switch to another doctor who is in-network.

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.

What does the term "pre-existing condition" mean? +

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? +

Many health insurance plans cover prescription medications, but the coverage may vary. Plans typically have a formulary, or list of covered drugs, and different drugs may have different levels of coverage, depending on whether they are generic, brand-name, or specialty drugs.

What is preventive care? +

Preventive care includes health services that help prevent illnesses, such as vaccinations, screenings, and annual checkups. Under the Affordable Care Act, most preventive services are covered by health insurance plans at no additional cost to the policyholder.

What should I do if my health insurance claim is denied? +

If your claim is denied, you can appeal the decision. Review the denial letter for reasons, contact your insurer for assistance, and file a written request for a hearing. If you win the appeal, you may be able to get a refund or other compensation.

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When selecting a plan, consider factors like: Your health care needs (e.g., frequent visits, prescriptions) The plan’s network of doctors and hospitals The cost of premiums, deductibles, copays, and out-of-pocket maximums Coverage for specialized care or treatments Compare the different plans and benefits to find one that meets your needs.

What happens if I don't have health insurance? +

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? +

Life insurance is a contract between you and an insurance company, where you pay regular premiums in exchange for a lump sum payment (death benefit) to your beneficiaries upon your death.

What are the different types of life insurance? +

Term Life Insurance: Provides coverage for a specific period (e.g., 10, 20, or 30 years). If you pass away during this term, your beneficiaries receive the death benefit. It does not build cash value. Whole Life Insurance: Offers lifetime coverage with a death benefit and also builds cash value over time, which you can borrow against or use. Universal Life Insurance: A flexible policy that allows you to adjust the premiums and death benefit while also building cash value.

How much life insurance coverage do I need? +

The amount of coverage you need depends on factors like your income, debts, family needs, and long-term financial goals. A common rule is to have coverage worth 10 to 15 times your annual income, but this can vary based on your individual situation.

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? +

Cash value is the accumulated value of the life insurance policy that can be used to pay for expenses, such as medical bills or funeral expenses.

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? +

Auto insurance is a contract between you and an insurance company that provides financial protection against damage or injury caused by accidents, theft, or other incidents involving your vehicle. It covers both liability and your vehicle's repair costs depending on the type of policy.

What types of auto insurance coverage are available? +

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.

How much auto insurance do I need? +

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? +

When selecting an auto insurance policy, consider factors such as the type of coverage you need, your driving habits, the value of your vehicle, and your state's legal requirements.

What factors affect my auto insurance premium? +

Several factors impact your insurance premium, including: Your driving history (accidents, tickets), The make, model, and age of your car, Your location (accident rates in your area), Your age, gender, and marital status, The level of coverage you choose, Your credit score (in some states).

What is a deductible? +

A deductible is the amount you must pay out of pocket before your insurance policy starts to cover the remaining cost of repairs or claims. For example, if you have a $500 deductible and incur $2,000 in damages, you will pay $500, and your insurer will pay the remaining $1,500.

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.