Features of Aviva Income Suraksha For Defence Sector
Updated On Apr 22, 2021
Table of Contents
- Features of Aviva Income Suraksha
- Aviva Income Suraksha Main Benefits
- Aviva Income with Suraksha Eligibility
- Maturity Benefit Under Aviva Income Suraksha For Defence Sector
- Death Benefit Under Aviva Income Suraksha For Defence Sector
- Tax Benefits of Aviva Income Suraksha For Defence Sector
- Take Away
The Indian Armed Forces are the most elite armed forces in the country. The armed forces are defending our country and us by dedicating their lives to live safely. Their selfless service and devotion inspire not only patriotism but also our duty to them. Yet most defence workers retire at the age of 42, thereby reducing their source of primary income. Therefore, it is necessary for retiring soldiers to have an alternative source of income to support their expenses. Having recognized the need of Indian defence personnel, Aviva Life Insurance Corporation India Limited has launched Aviva Income Suraksha, which allows the policy purchaser to use monthly income benefits and life insurance coverage.
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Features of Aviva Income Suraksha
The plan is specially framed for the defence sector with the primary goal of providing long term financial solution to the defence personnel. Some of the main features of this policy are listed below:-
1. Plan Details
- Insurance coverage of combat conditions & hostilities
- Service offerings to address the unique demands of personnel of the armed forces
- Guaranteed savings, retirement and child security
- Particular medical and financial guidelines to handle the needs of the armed forces
2. Service Quality
- Excellent online self-service system to monitor your policies everywhere
- Renewal Ease by Electronic Clearance Service (ECS)/National Automated Clearing House (NACH), Direct Debit, Branch Network, and Net Banking
- Welcome to Communication
- Service policy facility from our branches in India
- Customized after-sale service by a devoted and qualified sales staff made up of Ex-Servicemen or their family members.
3. Claim Services
- Simplified claim procedure
- Minimum documentary
- Waiver of the Death Certificate in case of untimely death in the field location. Claims shall be processed based on the DO letter from the Commander
- Prompt resolution of claims within four working days of receipt of the necessary documentation
Aviva Income Suraksha Main Benefits
Aviva Income Suraksha helps policyholders to reap specific incentives, such as:-
- Guaranteed monthly salary for a span of 10 to 12 years.
- Guaranteed monthly family benefit in case of death of the policyholder.
- Tax relief under the Income Tax Act of 1961.
- The choice to align income to various stages of life.
- Additional assured terminal benefit along with the last invoice.
- Option to pay a monthly fee.
Aviva Income with Suraksha Eligibility
The following are the main parameters of the eligibility requirements for subscription to Avia Income Suraksha:-
- Entry Age:-18 to 40 years of age
- Age of maturity:-28 years to 65 years
- Premium Service Terms:-10 years or 12 years
- Premium Frequency of charge – monthly or annual
Maturity Benefit Under Aviva Income Suraksha For Defence Sector
If the insurer has paid his/her premiums on time and survives to the policy's expiration, the guaranteed maturity balance will be delivered in the form of a fixed monthly income. Pay shall commence from the scheme's date of maturity and shall be paid on the same date each month.
Death Benefit Under Aviva Income Suraksha For Defence Sector
If the insurer passes away before the policy's expiration, the balance of the death sum assured shall be paid to the claimant in the form of an average monthly payout. This is subject to the condition that all premiums have been charged on the schedule before the policyholder's date of death. The first payout will be received at the time of the policyholder's death, and additional payments will be made over the monthly death anniversary of the deceased.
Tax Benefits of Aviva Income Suraksha For Defence Sector
Our defence personnel may benefit from the tax benefits provided for in Sections 80 C and 10(10(D)) of the Income Tax Act 1961. Aviva Income Suraksha ensures that this profit is freely available to them.
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With the availability of Aviva Income Suraksha life insurance plan, Aviva ensures that our defence personnel will lead a comfortable life even after retirement. All of these benefits make it one of the highly recommended investment plans for defence personnel.