Premium Quotation
Version Number: 65
Prepared On : 27/4/2019
Proposed Date of Commencement
:27/4/2019
Proposal Number: Age of the Life Insured :34 Years
Gender : Male
Product Features
Illustration-Benefits
Note
All the benefits shown in the above table are guaranteed provided all the due premiums are paid except the special surrender values.
Special Surrender Values may change as decided by the company from time to time, subject to prior approval from IRDA.
* Taxes including but not limited to Goods & Services Tax, Cesses as applicable shall also be levied as notified by the Government from
time to time. Tax laws are subject to change.
This quotation does not include any additional premium payable due to underwriting or effect of any applicable taxes on such additional
premium.
The surrender value shall as per the grid below:
**Surrender Value
A minimum guaranteed surrender value will be payable, which will be equal to GSV Factor X Premiums paid excluding extra premium and
taxes, if any. Surrender Value payable is greater of the Guaranteed Surrender Value (GSV) and Special Surrender Value (SSV). For further
details please refer product key feature.
For more details on terms and conditions please read sales brochure of this plan carefully before concluding a sale.
I ______________________, having received the information with respect to the above, have understood the above statement before entering
into the contract.
•The policy shall lapse after the expiry of grace period of 30 days without any benefit.
•You have two years from the date of first unpaid premium (FUP) to revive the lapsed policy and if not revived
within this period, the policy shall terminate by paying 30% of the regular premium (excluding taxes and extra
premium, if any). In case of death of the life insured during this period, 100% of all the premiums paid (excluding
taxes and extra premium, if any) shall be paid to the nominee.
If you stop paying premium after at least first two policy years premiums are paid:
What happens if I stop paying my
premiums?
•The policy shall become paid up policy after the expiry of grace period.
•You will have two years from the date of first unpaid premium (FUP) to revive the policy and if not revived within
this period, the policy shall continue with reduced benefits i.e. Paid-Up Sum Assured. The paid-up sum assured
would be:
Sum Assured X Number of Premiums Paid ÷ Total number of premiums payable under the policy
In case of death before maturity or survives till maturity, the paid-up sum assured shall be payable in
respect of a paid-up policy.
Please refer to the Key Feature brochure for details.
You do have an option to cashin (surrender) this policy after two policy years provided at least two years’ premiums
Can I cash in (surrender) the policy have been paid.
during the term of the policy?
Please note that the surrender amount will be less than the amount of premiums paid in most cases.
Please refer to the Key Feature brochure for details.
In case of death of due to suicide within 12 months:
•From the date of inception of policy, 80% of premiums paid excluding any payment of taxes and extra premiums,
What is not covered under this policy
(Exclusions)? if any will be paid, provided policy is in force.
•From the date of revival of policy higher of 80% of premiums paid excluding any payment of taxes and extra
premiums or surrender value as available on date of death
You have Freelook Period of 15 days from the date you receive your policy document. In case you do not agree with
Do I have a right to review my
purchase? terms and conditions, you may cancel the policy where the premium you have paid will be refunded after deducting
cost of medical examination (if any) and stamp duty.
We request you to personally fill the proposal form and provide accurate information to ensure that your claim is not reduced or
declined because of non-disclosure or misrepresentation of information.
Please note:
• Aviva is not liable for any claim until receipt of premium in full, completion of underwriting and acceptance of risk.
• As per current tax laws, the premium paid towards this policy will be eligible for deduction under Section 80C of the Income Tax Act 1961. Also
the proceeds of this policy will be tax-free under Section 10(10D) of the Income Tax Act 1961. Please consult your tax advisor to confirm
eligibility for tax benefits. Tax laws are subject to change.
I confirm that I have read the Key Feature brochure and the Official Illustration of the insurance product along with this document and understand
the features such as policy benefits, premium payable including the number of years for which premium is required to be paid, lock-in period,
whether any guarantee is available and if yes then subject to what conditions.
I agree and confirm to the use of electronic medium, including email, as a mode of communication from and to the Company.