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Aviva LifeShield Advantage Term Insurance

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Aviva Term Insurance
LifeShield Advantage Plan
Claim Settlement Ratio98.01%
Customer Care9:00 AM to 6:00 PM
Death Benefit Paid For790 Policies
Inception2002
Presence93 Offices
Total Death Benefit Paid80.78 Crore

About Aviva LifeShield Advantage Term Insurance

Aviva LifeShield Advantage plan is a comprehensive protection plan. This plan provides life cover and financial security to the family of the life assured in case an unforeseen event such as untimely demise of life assured takes place anytime during the policy tenure. Aviva Life Shield Advantage plan provides flexibility to choose from 2 different protection options available, these protection options are Life Protection (Option A) and Life-Cum-Disability Protection along with Return of Premium (Option B). Aviva LifeShield Advantage plan return of premiums paid at maturity that is, at the end of the policy term. The return of premiums shall be provided to the life assured in case the life assure survives the entire policy tenure.

Under protection Option B of this plan, a death benefit shall be provided to the family of the life assured in case he/she passes away or suffers permanent total disability due to an accident within the policy term. Aviva LifeShield Advantage plan provides financial protection to the family of the life assured in difficult times.

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Key Inclusions and Exclusions of the Plan

What's Included

  • Unforeseen Demise
  • Accidental Death
  • Accidental Permanent Total Disability

What's Not Included

  • Suicide
  • Alcohol or drug abuse
  • Engaging in unlawful or criminal activities
  • Death caused in war, invasions, civil war, rebellion, riots
  • Radioactive contamination
  • Participation in hazardous activities
  • Previous medical conditions
  • Aviation other than flying as passenger on a commercial licensed passenger aircraft.

Aviva LifeShield Advantage Plan Brochure

  • 1.15 MB
  • PDF Document
  • Aug 31, 2021
Download PDF

Claim Process at Aviva Term Insurance

  • 1

    Claim Intimation

    In the case of death of the life assured, a claim intimation to the insurance company must be made as early as possible.
  • 2

    Submission of Documents

    Claim form, death certificate, original policy document, and more documents must be submitted to ensure smooth claim settlement.
  • 3

    Claim Evaluation

    Once the documents are submitted, the insurance company will conduct thorough evaluation of the claim filed.
  • 4

    Claim Settlement

    If claim request is approved, claim settlement is done within 30 days. If additional investigation is required, it make take 6 months.

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FAQs on LifeShield Advantage Plan Health Insurance Plan

  • What is the grace period offered for Aviva LifeShield Advantage plan?

    A grace period of 30 days for Quarterly, Half yearly and Yearly premium payment and a grace period of 15 days for Monthly premium payments is provided for Aviva Life Shield Advantage plan.

  • What is the revival period offered for Aviva LifeShield Advantage plan?

    For Aviva LifeShield Advantage plan a revival period for 5 years is provided from the date of first unpaid premium.

  • Is a free-look period offered for Aviva LifeShield Advantage plan?

    Yes, a free look period of 15 days is offered for Aviva LifeShield Advantage plan, where the life assured can cancel/return the term insurance policy to the insurance company by providing appropriate reasons for not being satisfied with the policy. 

  • How can I pay premiums for my Aviva LifeShield Advantage plan?

    The premiums of Aviva LifeShield Advantage plan can be paid via net banking, credit/debit card, UPI, e-wallets etc. The payments are safeguarded.

  • Is change of premium payment frequency/mode allowed under Aviva LifeShield Advantage plan?

    Premium payment frequency/mode change is applicable as per the terms and conditions of the insurance company. Before purchasing the plan, make sure to read the policy document carefully. 

  • What are the features of Aviva LifeShield Advantage plan?

    Aviva LifeShield Advantage plan is a comprehensive protection plan. This plan offers flexibility to choose from 2 different protection options namely, Life Cover and Life-Cum-Disability Protection along with Return of Premium. This plan also provides maturity benefits irrespective of the protection option chosen. 

  • What are the different protection categories available under the Aviva LifeShield Advantage plan?

    Aviva LifeShield Advantage plan offers 2 different protection options to choose from, these protection options are Life Protection (Option A) and Life-Cum-Disability Protection along with Return of Premium (Option B). 

  • Is maturity benefit provided under Aviva LifeShield Advantage plan?

    Yes, maturity benefit is provided under Aviva LifeShield Advantage plan irrespective of the protection option chosen. 

  • What are the different premium payment modes available under the Aviva LifeShield Advantage plan?

    Following are the different premium payment modes available under the Aviva LifeShield Advantage plan:

    • Single Premium
    • Monthly
    • Quarterly 
    • Half Yearly
    • Yearly

  • Who can purchase the Aviva LifeShield Advantage plan?

    Any person who is between the age of 18 - 55 years can purchase the Aviva LifeShield Advantage plan. 

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