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In an ever-changing world filled with uncertainties, securing the future of your loved ones becomes a paramount responsibility. Aviva Life Insurance, a reputable player in the insurance industry, offers a robust solution with its 5 crore term insurance plan.
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This plan is designed to provide substantial financial protection to your family, ensuring that their needs are met even in your absence. This article explores the key aspects of Aviva Life 5 crore term insurance, including its features, benefits, eligibility criteria, and more.
Term Plans
Aviva Life 5 crore term insurance is a pure protection plan that guarantees a sum assured of 5 crore to the policyholder’s nominees if the policyholder passes away during the policy term. These term insurance plans provide a large safety net, ensuring that your family can maintain their lifestyle and meet financial obligations without any hassles.
Here is a list of key features of using the Aviva life 5 crore term insurance:
Significant Life Coverage: With a sum assured of 5 crores, this type of life insurance policy provides extensive coverage, safeguarding your family's financial future against life's uncertainties. This amount can cover substantial expenses such as higher education, home loans, and day-to-day living costs.
Lower Premiums: Despite the high coverage amount, Aviva Life offers highly affordable premiums. This makes it accessible for individuals seeking a large coverage amount without a significant financial burden.
Multiple Payout Options: Aviva Life 5 crore term insurance offers various payout options, including a lump sum payment, regular monthly income, or a combination of both. These options allow you to tailor the policy according to the financial needs and preferences of your beneficiaries.
Optional Riders: To enhance the coverage, Aviva Life provides optional term insurance riders that can be added to the base policy. These include critical illness coverage, accidental death benefits, disability income riders, and a waiver of premium. Adding these riders offers comprehensive protection against various risks.
Ease of Application: The 5 crore term insurance policy can be easily purchased online through Aviva Life’s official website. The online process is user-friendly, allowing potential policyholders to compare plans, customize coverage, and calculate premiums effortlessly.
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Here is how the Aviva term insurance for 5 Crore can benefit you:
Cost-Effective Coverage: Offering a high sum assured at highly affordable premium rates, the plan provides a cost-effective way to secure your family's financial future, making it an attractive option for many individuals.
Comprehensive Financial Security: The main benefit of this Aviva life insurance plan is the assurance of substantial financial security for your family. The 5 crore sum assured can help cover significant expenses, ensuring that your family does not face financial challenges in your absence.
Flexibility and Customization: With various options for policy terms, payout methods, and additional riders, Aviva Life 5 crore term insurance can be tailored to meet specific needs and preferences. This flexibility ensures that the policy is aligned with your financial planning goals.
Tax Benefits: Premiums paid towards Aviva Life 5 crore term insurance policy are eligible for term insurance tax benefits under Section 80C and 10(10D) of the Income Tax Act.
Peace of Mind: Knowing that your family is financially protected provides immense peace of mind. This security allows you to focus on your personal and professional life without worrying about the future.
Here is how you can buy the Aviva life insurance 5 crore cover online via Policybazaar:
Step 1: Visit the term insurance page of Policybazaar
Step 2: Fill in the details like name, contact details, and gender
Step 3: Select the right annual income, educational qualifications, smoking habits, and occupation types
Step 4: Choose the most suitable Aviva 5 crore term insurance and proceed to pay
Aviva Life 5 crore term insurance plan offers a comprehensive and reliable solution for individuals looking to secure their family's financial future. Its substantial coverage, affordability, and flexibility make it an ideal choice for those seeking significant life insurance protection. By opting for Aviva Life 5 crore term insurance, you can rest assured that your loved ones will be financially secure, even if you are not around to provide for them.
Note: You should also check the term insurance benefits if you are planning to purchase the term insurance plan.
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
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