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Aviva Young Scholar Secure Child Plan Review

Discussion in 'Life insurance' started by real_buzz, Dec 11, 2012.

  1. real_buzz Moderator

    Aviva Young Scholar Secure Child Plan Review

    • Entry age: Parent: 21-50 years and Child: 0-12 years (last birthday)
    • Policy term: 21 minus age at entry of the child
    • Premium payment term: For entry age 0-8 years of child – 13 minus age of child
    For entry age 9-12 years of child: Fixed 5 years
    • Premium Payment Frequency: Yearly, Half-yearly and Monthly
    • Annual Premium: Silver – Rs 25,000; Gold – Rs 50,000; Diamond– Rs 100,000;
    Platinum (5 options) – Rs 200,000/400,000/600,000/800,000 or 10,00,000
    * Service tax as applicable from time to time will be payable separately
    • Sum Assured: Based on age of the parent, age of the child and premium option
    • Riders Available: Accidental Death Benefit (ADB) rider, Aviva Term Plus rider and Aviva Dread Disease rider.To view Rider Brochures,

    Benefits of Aviva Young Scholar Secure Child Plan Review

    Death Benefit:
    Upon death, Life cover is paid to the nominee (beneficiary) and the policy continues with all benefits intact. Any installment already paid by us will not be deducted from the death benefit.
    All future installments of Tuition Fee Support, College Admission Fund & Higher Education Reserve will be paid on the scheduled dates
    Additional benefits as detailed below will also be paid if the corresponding riders are opted for:
    • Aviva Term plus rider Sum Assured is also payable on death if this rider has been opted for
    • An additional sum equal to ADB Rider Sum Assured would be payable, if ADB Rider has been opted and death is due to an accident.
    • Aviva Dread Diseases rider Sum Assured is paid on contracting any of the 18 critical illnesses covered or on suffering Permanent Total Disability (PTD) due to illness or accident, while the policy continues with Death Benefit intact.
    The said benefits are applicable only if the policy is inforce as on date of eventuality

    Guaranteed Education Support Benefit:

    This plan provides guaranteed Tuition fee support, College Admission Fund and Higher Education Reserve irrespective of you being there or not.
    Tax Benefit:

    Tax benefits will be as per section 80C and 10(10(D) of Income Tax Act, 1961. Tax benefits as per the prevailing tax laws are applicable and are subject to change from time to time.

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