Aviva i-Growth Plan
Aviva i-Growth Plan is a Unit-Linked Investment plan which provides life cover while ensuring financial growth. The plan offers a choice of 3 fund options featuring different equity-debt combinations to help you earn returns as per your financial goals and risk profile. The plan helps you accelerate the growth of your savings by way of Loyalty Additions during the last 3 policy years.
The plan offers you liquidity by allowing partial withdrawals after the end of a lock-in period of the first 5 years. And as many as 12 free funds switches anytime during a policy year. You also have an option to redirect your premium to different funds up to 2 times a year. Additionally, the plan also offers you the option to reduce your sum assured anytime after the first 3 years in the policy.
Best Features of Aviva i-Growth Plan
Following are the key features of Aviva i-Growth Plan which make it an investment plan worth considering -
- Fund Options- Aviva i-Growth Plan offers a choice of 3 different fund options namely Balanced Fund - II, Bond Fund - II, and Enhancer Fund - II.
- Loyal Additions- Loyal additions of 1.25%, 2.7%, and 3% are made to the fund value during the last 3 years of policies of tenure 10, 15, and 20 years respectively.
- Partial Withdrawals- The plan allows partial withdrawals up to 4 times in a policy year after the completion of the lock-in period of the first 5 years.
- Fund Switches- The fund options can be switched as many as 12 times for free in a policy year without any charge.
- Premium Frequency: You have the option to make the premium payment on a monthly, quarterly, half-yearly, or yearly basis as per your convenience.
- Reduced Sum Assured Option: If you have opted for a life cover equivalent to 20 times the annualised premium at the beginning of the policy, then you can reduce it to 10 times the annualised premium after 3 years in the policy. There is no change in the premium amount on the use of this feature.
Benefits of Aviva i-Growth Plan
Aviva i-Growth Plan provides the following benefits to its investors -
- Death Benefit
In the event of the unfortunate death of the life assured, the highest of the following is paid to the nominee:
- 100% Sum Assured
- 105% of all the premiums paid till the date of death
- Fund value along with loyalty additions
In case the death of the assured is caused by a sudden accident then along with the above benefit, an additional amount equivalent to the base sum assured is also paid to the nominee, subject to a maximum of INR 50 Lakh.
2. Maturity Benefit
In case the life assured survives till the date of maturity, then the fund value along with the loyalty additions is paid to the investor as the plan’s maturity benefit.
Aviva i-Growth Plan Eligibility
Eligibility Criteria For Aviva i-Growth Plan
Aviva i-Growth Plan
Minimum Entry Age
Maximum Entry Age
Maximum Maturity Age
10, 15, or 20 Years
Premium Payment Term
Same as policy term
Premium Payment Frequency
Yearly, Half-Yearly, Quarterly, and Monthly
Minimum Sum Assured
For 10-Year Policy Term- INR 6.6 Lakh
For 15-Year Policy Term- INR 6 Lakh
For 20-Year Policy Term- INR 4.8 Lakh
Maximum Sum Assured
For Entry Age of 18-40 Years- INR 50 Lakh
For Entry Age of 41-50 Years- INR 30 Lakh
Minimum Annualised Premium
For 10-Year Policy Term- INR 66,000
For 15-Year Policy Term- INR 60,000
For 20-Year Policy Term- INR 48,000
Maximum Annualised Premium
If Sum Assured equals 10 times of the Annualised Premium
If Sum Assured equals 20 times of the Annualised Premium
INR 5 Lakh
INR 2.5 Lakh
INR 3 Lakh
INR 1.5 Lakh
Aviva i-Growth Plan Fund Options
The Aviva i-Growth Plan comes with the following 3 fund options -
Equity and Equity Debt Instruments Money Market
Related Securities Securities and Cash
Risk and Return Rating
Aviva i-Growth Plan Review
Aviva i-Growth Plan is an investment plan which offers you a choice of 3 fund options, liquidity by way of partial withdrawals, option to reduce the sum assured, and rewards you for staying invested in it by offering Loyalty Additions during the last 3 policy years. The plan also provides an accidental death benefit in addition to the base death benefit subject to a maximum of INR 50 Lakh. Individuals looking for a plan with dual benefits of investment and life cover along with enough flexibility and liquidity can consider shortlisting this plan.