Aviva LifeSaver Advantage

An overview
UIN: 122L082V01

"For internal and partner use only and not to be shared with public. Violation of this could lead to immediate termination."
 Aviva LifeSaver Advantage
Product Positioning – Saving Plan

Positioning Saving Plan

Key Drivers Regular PPT, protection, med-high cover

Person looking at disciplined saving with high level of financial security for the family,
Target Audience
in case something untoward happens

Features to appeal Increasing death benefit, Aviva Child Education Rider

Aviva LifeSaver Advantage is predominantly a savings plan with a high level of

financial security for the family.

In the event of your unfortunate death:

Sales Pitch - Your family enjoys an increasing level of protection and receives the Sum Assured
and Fund Value, in the event of your death
- Your family receives a monthly income, in your absence, till the end of the policy
term, with the Aviva Child Education Rider

Page 2
 Aviva LifeSaver Advantage
Product Positioning – Child Plan

Positioning Child Plan

Key Drivers Aviva Child Education Rider , Option of high/low SA

Parents who would like to provide the security of a replacement income, in the event of
Target Audience
their death, to guarantee the child’s education

Features to appeal Aviva Child Education Rider , Increasing death benefit (SA + FV)

Aviva LifeSaver Advantage is a child plan that secures your child’s education needs :
-through an increasing life cover payable as a lump sum on death (Guaranteed SA +
Sales pitch FV)
-stream of regular income payable to the child till the end of the original policy term
(Aviva Child Education Rider)

Page 3
 Aviva LifeSaver Advantage
Easy Steps to Your Plan

Step 1: Decide the corpus you wish to build for your medium to long term needs and the time when
the same should be available. This will influence the choice of premium and the policy term

Step 2: Choose the level of protection you desire through:

• Level of Life Cover (Sum Assured)
• Choice of Riders

Step 3: Arrive at the amount of premium you need to pay, which will be determined by step 1&2. Also
choose the Premium Paying Frequency (PPF) based on your convenience.

Step 4: Choose the funds you want to invest in depending on your risk appetite.
• 8 Fund options to select from basis your risk appetite
• Safe entry into equities and safer exit through Systematic Transfer Plan

Page 4
Aviva LifeSaver Advantage –
Product Specifications
 Aviva LifeSaver Advantage
The Product Specifications

Life Insured: Without riders: 2 to 60 years

Entry Age
With riders: 18 to 55 years

Policy Term (PT) 15, 20, 25 or 30 years s.t. maximum maturity age of 75 years

Maturity Age 18 to 75 years

Premium Payment Term (PPT) Equal to Policy Term

Minimum: Rs.25,000
Premium
Maximum : No limit, depends on underwriting

Premium Payment Frequency Yearly, Half-yearly and Monthly (monthly mode by ECS/Direct Debit only)

Minimum: 1.05 x Policy Term x Annualized Premium

Sum Assured (SA)
Maximum: 1.50 x Policy Term x Annualized Premium

Minimum: Rs.5,000; Maximum: No limit, depends on underwriting

Top up Premium
Sum Assured on Top-up premium: (1.25 x Top up Premium)

In-built: Accidental Death Benefit

Riders Optional: Aviva Dread Disease (DD) Rider
Aviva Child Education (CE) Rider

Page 6
Aviva LifeSaver Advantage –
Features
 Aviva LifeSaver Advantage
The Product Features

Commencement of Risk and Auto-Vesting

Risk cover commences immediately starting from the date of commencement of the policy
If LI is a minor at DOC, the policy automatically vests in the LI on his/her completion of age 18 years l.b.d

In-built Accidental Death Benefit

The policy provides an in-built Accidental Death Benefit (ADB) provided LI(s) is/are between 18 – 60 years l.b.d. as on
date of death
This in-built accidental death benefit would equal to the Base Sum Assured, subject to the total ADB
cover not exceeding Rs.50 lacs. (as on date of proposal)

Please note that this is an built-in benefit and hence not required to be opted as a rider on the proposal form

Top-up premiums

 Top-up premiums can be paid any time during the PT (except during the last 5 years of the policy) provided all due
premiums are paid
 Minimum Rs.5,000; Maximum: No limit. Depends on underwriting
 SA on Top-up premiums = 1.25 x Top-up premium
 Top-up premiums are allocated in funds in the same proportion as applicable for regular premium, unless otherwise
specified at the time of paying the top-up premium

Page 8
 Aviva LifeSaver Advantage
The Product Features

Death Benefit

Provided death-risk cover is in force (during the PT, provided all due premiums are paid), the Death Benefit includes:
 (SA + FV pertaining to base plan) + (SA + FV pertaining to top-up premiums, if any) and
 Additional SA (if death is due to an accident, s.t. conditions specified under Accidental Death Benefit) and
 Monthly Benefit as opted under Aviva Child Education Rider
(Paid to the beneficiary till the end of original policy term, if this rider has been opted for)

Maturity Benefit

Fund Value (value of units pertaining to regular premium & top-up premium, if any) as on the maturity date

Option to reduce the Sum Assured

 If existing SA is greater than minimum base SA allowed, base SA can be reduced at any policy anniversary (without
reducing base premium) such that the revised multiple does not fall below the minimum SA allowed under this plan
 A written notice is required at least 15 days before the policy anniversary to exercise the option
 The premium will not change if this options is exercised
 Decrease in SA will result in proportionate decrease of rider SA of Aviva DD Rider and/or Aviva Child Education
Rider, if any, on the life of Life Insured such that revised Rider SA <= Base SA
 The rider premium may be reduced proportionately due to a reduction in Rider Sum Assured
 In case the revised Rider SA is less than the minimum limit, the specified rider shall terminate
 If the Sum Assured is reduced once, it cannot be increased again

Page 9
 Aviva LifeSaver Advantage
The Product Features

Partial Withdrawals

Partial withdrawals allowed:

– Only if the Life Insured is at least 18 years of age
– After the first five policy years from the regular premium account
– From top-up premium (TUP) account after completion of 5 years from date of allocation of that TUP
Partial withdrawals allowed upto a maximum of 4 partial withdrawals per policy year
Minimum amount per partial withdrawal = Rs.5,000
Partial withdrawals to first be made from top-up premium account, if any & if eligible, & thereafter from the
regular premium account, if any & if eligible
Minimum Fund Value (related to regular premiums) after such withdrawal should not fall below the 2 times of
first year annual premium
Any Partial withdrawals made shall not affect the level of sum assured.

Loan
Loan will not be available under this policy

Grace Period
30 days for Annual and Half-yearly frequency
15 days for Monthly frequency

Page 10
 Aviva LifeSaver Advantage
The Product Features

Investment Options
Policyholders can invest option in any of the following eight Funds s.t. minimum 10% in any of the Funds chosen:
Fund Investment Pattern Risk
Balanced Fund-II (To generate a balance of capital growth and steady returns) Debt & MM (0%-100%); Equity (0%-45%) Med
Bond Fund-II (To generate a steady income through investment in high quality fixed Debt & MM (100%); Equity (0%) Low
income securities)
Enhancer Fund-II (To provide aggressive, long term capital growth with high equity Debt & MM (0%-40%); Equity (60%-100%) High
exposure)
Growth Fund-II (To generate long term capital appreciation with high equity exposure) Debt & MM (0%-70%); Equity (30%-85%) High
Index Fund-II (To generate returns in line with the stock market index – S&P CNX Debt & MM (0%-20%); Equity (80%-100%) High
NIFTY)
Infrastructure Fund (To generate steady returns through investment in infrastructure Debt & MM (0%-40%); Equity (60%-100%) High
and related equities)
Protector Fund-II (To generate steady returns with a minimum exposure to equities) Debt & MM (0%-100%); Equity (0%-20%) Low
PSU Fund (To generate steady returns through investment in PSU and related Debt & MM (0%-40%); Equity (60%-100%) High
equities)

Switching between funds

Switching between the 8 unit linked funds allowed, anytime, any number of time
First 12 switches in a policy year are free of charge;
Subsequent switches will be charged at 0.5% of the amount switched s.t. a maximum of Rs 500 per switch
This charge is not applicable in case of switches under STP or reverse STP
Minimum switch amount & balance after part switch Rs 5,000 (limit not applicable if 100% of a fund is being switched)

Page 11
 Aviva LifeSaver Advantage
The Product Features

Premium re-direction
Change of allocation proportion of future premiums allowed, anytime, free of charge
Premium redirection is allowed upto 2 times a policy year
Unused options cannot be carried forward to future years
Minimum allocation in each selected fund must be 10%

Systematic Transfer Plan (STP with Reverse STP)

Allowed at inception or at any policy anniversary (except last 3 policy years) for annual premium frequency policies by
giving a written notice at least 30 days prior to the policy anniversary.
Option of a weekly or a monthly STP
Systematic switches (52 or 12 p.a.) from Protector Fund-II to Enhancer Fund-II to be free of charge
During the last two years before maturity the units will be switched from Enhancer Fund-II to Protector Fund-II (Reverse
STP ) on a monthly basis only
No other switches into or from Protector Fund-II are allowed during this period
Option to close and restart STP on policy anniversaries
Conditions regarding switch fee, minimum switch, minimum fund after switch etc. for normal switching option shall not
be applicable to switches made under Systematic Transfer Plan.

Assignment and Nomination

Assignment and Nomination are allowed as per sections 38 & 39 respectively of the Insurance Act, 1938.

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 Aviva LifeSaver Advantage
The Product Features

Premium Discontinuance
Discontinuance means the state of a policy that could arise on account of non-payment of premium before expiry of
the grace period or upon receipt of information by Aviva from the insured about the discontinuance of the policy
No policy shall be treated as discontinued if, within the grace period, the premium has not been paid due to death of
the policyholder or the insured or both or upon the happening of any other contingency covered under the policy
The proceeds of a discontinued policy shall be payable :
– Only after the completion of first five policy years (i.e. the “lock-in period”) and
– After addition of interest computed at the minimum interest rate as prescribed by IRDA from time to time for
the period for which the policy remained in the “Discontinued Policy Fund” (the current minimum interest
rate is 3.50% p.a.)
“Discontinued Policy Fund” means the segregated fund of Aviva that is set aside and equals the Fund Value of all
discontinued policies determined in accordance with the prevailing regulations
“Lock-in-period” means the period of five consecutive years from the date of commencement of the policy, during
which period the proceeds of the discontinued policies cannot be paid by Aviva to the policyholder or to the insured,
except in the case of death of Life Insured

Options available to the Policyholder upon discontinuance of the policy

 
policyholder shall be entitled to exercise one of the following options upon the discontinuance of the policy:

evival of the policy, or

omplete withdrawal from the policy without any risk cover

Note: Revival of the policy after expiry of grace period will be subject to underwriting requirements Page 13
 Aviva LifeSaver Advantage
The Product Features
Obligations of the Company in case of Premium Discontinuance

Obligations of the Company for revival of the policy

Where a policy is discontinued, the Company shall send a notice within a period of 15 days from the date of expiry of grace period
to the Policyholder to exercise the option to revive the policy within a period of 30 days of receipt of such notice
During this period the fund value of the policy shall be part of the segregated fund chosen till the policyholder exercises his/her
option or till the expiry of 30 days of notice period whichever is earlier and the policy is deemed to be in-force with full risk cover as
per terms and conditions of the policy.
If the Policyholder does not exercise this option within the stipulated period of thirty days, the Policyholder shall be deemed to have
exercised the option of complete withdrawal from the policy without any risk cover.
Where the Policyholder exercises the option to revive the policy, the policy shall continue with full risk cover.
The revival of the policy after the end of grace period will be subject to underwriting requirements and will be effective only after
Aviva specifically approves the Policyholder’s request for revival and communicates the same to the Policyholder in writing
Obligation of the Company upon complete withdrawal of the policy
Prior to completion of lock-in period:
If the policyholder exercises the option of complete withdrawal from the policy without any risk cover, within the lock-in period, the
fund value of the policy after deducting discontinuance charges, on the date of discontinuance of the policy shall be credited to the
discontinued policy fund.
The proceeds of the discontinued policy shall be refunded only upon completion of the lock in period and after addition of interest
subject to the minimum interest rate as prescribed by the IRDA from time to time for the period for which the policy remained in the
Discontinued Policy Fund (currently minimum interest rate is 3.50% p.a. on compounding basis)
The income earned on the discontinued policy fund shall also be payable to the Policyholder after the end of lock in period.
Post completion of lock-in period:
If the Policyholder exercises the option of complete withdrawal from the policy without any risk cover after the end of the lock in
period, the Company will pay the fund value to the Policyholder and the policy terminates

Note: Revival of the policy after expiry of grace period will be subject to underwriting requirements
Once a policy is moved to Discontinuance Fund, it cannot be revived Page 14
 Aviva LifeSaver Advantage
The Product Features

Exclusions
No benefit, except FV as at date of notification of death of LI is payable if death occurs due to suicide or attempted
suicide within 12 months from date of commencement or from date of revival of policy, in case of revival, following which
the policy terminates
The additional benefit on account of Accidental Death during the policy term shall not be payable if the Accidental
Death is caused or aggravated directly or indirectly by:
– Alcohol or drug abuse including drug taking other than prescribed by a medical practitioner, any crime
committed by the insured, willful self inflicted injury, suicide or attempted suicide or unreasonable failure to
seek or follow medical advice.
– Failure to seek and follow medical treatment and advice from a registered and qualified medical practitioner
immediately following an accident. The word “immediately” here does not mean that the insured should
approach instantly to a medical practitioner in case of an accident, but he/she should not avoid the treatment
knowingly.
– Aviation other than as a passenger in a commercially licensed passenger aircraft.
– Engaging in racing of any kind other than athletics or swimming.
– Any form of war, invasion, hostilities (whether war be declared or not), civil war, rebellion, riots, social
disorder, insurrection, military or usurped power, or willful participation in acts of violence.
– Radioactive contamination due to a nuclear accident.
– Participation in sports or pastimes of a hazardous nature including (but not limited to) parachuting, potholing,
mountaineering and hot air ballooning.
– Any condition existing prior to the Commencement Date unless it has been previously disclosed to the
Company before or at the time of application for this Insurance. However, claim eligibility will be subject to the
provisions of Section 45 of the Insurance Act 1938.
For rider exclusions, if any, please refer the section on riders.

Page 15
Aviva LifeSaver Advantage –
The Riders
 Aviva LifeSaver Advantage –
An overview of the riders

Maximum expiry age Premium Paying

Rider option Minimum SA Term of Rider
for rider benefit Term of Rider

65 Rs. 200,000 PPT of base plan PPT of base plan

Aviva Dread Disease (DD) Benefit: A lump sum equal to Aviva DD rider Sum Assured is paid on contracting
Rider * any of the 18 critical illnesses covered or on PTD, and the policy continues with
the rest of the benefits intact.
There is a waiting period of 180 days and survival period of 30 days for this rider

Same as Policy
Approximately half
70 12,000 x PT Term of base
of PT of base plan
Aviva Child Education plan
Rider **
Benefit: In the event of death of Life Insured, a monthly income, as decided at
inception of the policy, is paid to the nominee till the end of the policy term.

Premium to be collected in addition to the base premium for either of the riders with Aviva LifeSaver Advantage

Note:
- All the riders are stand-alone riders and will not impact the other benefits under the plan
- Rider SA (for any Rider) cannot exceed the Base SA
* Cover under Aviva Dread Disease Rider to expire at the age 65 years or end of PPT of Base Plan whichever is earlier.
* SA for Aviva DD Rider together with the rider SA under Aviva Health Guard Rider, if already opted for cannot exceed Rs.50 lacs (on one
life for all Aviva policies)
** Cover under Aviva Child Education Rider to expire at age 70 years or end of PT of Base Plan whichever is earlier. Page 17
 Aviva LifeSaver Advantage
The overall benefits

Death Benefit Maturity Benefit

 On death of life insured the following shall be payable  Value of units pertaining to regular premium and top-up
following which the contract terminates: premium, if any, as on the maturity date.
– (SA + FV pertaining to regular premium at date of
notification of death) &
– (SA + FV pertaining to top-up premiums, if any at
date of notification of death)

Aviva LifeSaver
Advantage
Accidental Death Rider Benefits
Benefit
In the event of accidental death,  Additional benefits through riders
if age of LI(s) is/are between18 – for protection against illnesses/
60 years l.b.d. as on date of death then, disability and providing regular income to
in addition to the Death Benefit mentioned child in case of death of LI
above, a benefit equal to the base SA shall also
be payable s.t. a maximum limit of Rs.50 lacs Tax Benefits
 Tax benefits will be as per the prevailing tax laws

Page 18
 Aviva LifeSaver Advantage
The charge structures

Premium Allocation Charge: Discontinuance Charge:

Allocation Charge will be : A discontinuance charge is applied as follows:
6th yr
2nd – 5th Where the Discontinuance
1 Yr
st
onwar Discontinuance charges
yr policy is charges for policies
ds for policies having
Regular/ discontinued having Annualized
Annualized premium
Limited 6% 4% 3% during the premium upto
above Rs. 25,000
PPT policy year Rs. 25,000
Allocation charge for top-up premium: 2% Lower of 20% of AP or Lower of 6% of AP or
1 Fund Value subject to a Fund Value subject to a
Fund Management Charge: maximum of Rs.3000 maximum of Rs.6000
Fund Management Charge (FMC) of Lower of 15% of AP or Lower of 4% of AP or
1.35% p.a. will be applied on the below 2 Fund Value subject to a Fund Value subject to a
given funds while calculating respective
maximum of Rs.2000 maximum of Rs.5000
NAVs on a daily basis
Lower of 10% of AP or Lower of 3% of AP or
Fund Risk Profile 3 Fund Value subject to a Fund Value subject to a
Balanced Fund-II Medium maximum of Rs.1500 maximum of Rs.4000
Bond Fund-II Low Lower of 5% of AP or Lower of 2% of AP or
4 Fund Value subject to a Fund Value subject to a
Enhancer Fund-II High
maximum of Rs.1000 maximum of Rs.2000
Growth Fund-II High 5 and
Index Fund-II High Nil Nil
onwards
Infrastructure Fund High
Note: There will be no discontinuance charge on fund value
Protector Fund-II Low
corresponding to Top up premium, if any.
PSU Fund High

Page 19
 Aviva LifeSaver Advantage
The charge structures

Policy Administration Charge (PAC):

- PAC will be made by monthly redemption of units from the policy unit account throughout the policy term.
- PAC = 0.1% of Annualized Premium per month subject a maximum of Rs. 400 p.m.
Mortality Charge – Base Product:
- Levied on Sum at Risk (SAR) by monthly redemption of units from the policy unit account. SAR is always >= Zero
- SAR is defined as (Base SA minus FV pertaining to regular premium) + (Top-up SA minus FV pertaining to top-up
premium)
-Two years age setback on male rates will be used in mortality charges for female
- Sample mortality charge per Rs. 1,000 of SA for a male of different ages is given below
Age 25 30 35 40 50 60 70
Rs. 1.4250 1.4638 1.7938 2.6875 6.9150 17.1650 48.0738

- In addition, Re.0.60 per 1000 of Sum Assured will be charged for in-built Accidental Death Benefit, if applicable.

Rider Premium:
- Rider premiums will be collected separately (apart from the basic premium) and will cover the rider benefits.
- Rider premiums will be payable at the same frequency as the base plan for the duration of the PPT of the rider
- Sum of rider premiums should not exceed 30% of the base premium. In case the rider premium crosses this limit,
then the rider’s SA would be reduced accordingly subject to the minimum limit for the rider. If the rider SA is lower
than this minimum limit then the rider won’t be offered.
-The rider charges are subject to change with prior approval of IRDA

Page 20
 Aviva LifeSaver Advantage
The charge structures

Rider Premiums contd:

- Aviva DD Rider - Male & female rates are separate. Sample rates per Rs.1,000 of SA (healthy male, PT=15 yrs)
given below:
Aviva DD Rider Rates (Male life, 15 year PT) Age 25 30 35 40
per Rs. 1,000 of SA Rs. 1.64 2.78 4.79 8.21

-For Aviva Child Education Rider, unisex rates are used. Sample rates for Rs. 1,000 of monthly payout (15 year PT, 7
year Rider PPT) are given below:
Aviva Child Education Rider Rates
Age 25 30 35 40
(15 year PT, 7 year PPT of rider)
per Rs. 1,000 of monthly payout Rs. 264.47 315.35 446.88 692.72

Switching Charge:
-First 12 switches in a policy year: Nil. On subsequent switches, a charge of 0.5% of the amount switched subject to a
maximum of Rs.500 per switch

Miscellaneous Charge
- Service Tax and Education Cess will be applied as notified by the government from time to time.

Minimum Guarantees on Charges

-The PAC, Mortality Charge, Premium Allocation Charge and Discontinuance Charge are guaranteed under the
contract

Page 21
 Aviva LifeSaver Advantage –
Old vs. New 1/3
Features Old New
LI: 0 – 60 (no riders); 18 – 55 (with CHB/ AD&D
LI: 2 – 60 (no riders);
Entry Age riders); 18 – 50 (with IB rider)
18 – 55 (with riders)
Proposer: 18 – 60 (with PayorPlus rider)
PT = 10, 15, 20, 25 & 30 yrs s.t. a max maturity PT = 15, 20, 25 or 30 years s.t. maximum maturity
PT / PPT age of 75 years age of 75 years
PPT = PT PPT = No change
- Increase in premium allowed (with SA increase)
Flexibility - Decrease in SA allowed
- Decrease in SA allowed
Minimum Premium Rs. 15,000 Rs. 25,000
Premium frequency Yearly, Half-yearly, Quarterly or Monthly Yearly, Half-yearly or Monthly
Minimum: 5 x AP Minimum: 1.05 x AP x PT
Sum Assured
Maximum: 1.5 x AP x PT Maximum: 1.50 x AP x PT
In-built: Accidental Death Benefit
Riders Optional: AD&D, PayorPlus, IB, CHB Optional: Aviva DD Rider, Aviva Child Education
Rider,
Minimum: Rs 5,000
Minimum: Rs 1,000; total up to 25% of total
Maximum: No limit, subject to underwriting
Top-up premium Regular Premium
Every top-up will carry a SA = 1.25 x Top-up
SA on top-up premiums: NIL
premium

During the term : 20% of FYP every 5 years,

starting 10th year (except on
Loyalty Additions maturity) NIL

At Maturity :130% to 175% of FYP

Page 22
 Aviva LifeSaver Advantage –
Old vs. New 2/3
Features Old New
Lock-in 3 years 5 years

Partial withdrawals Allowed after 5 years No change

65% to 70% in FY
94% in FY
75% in SY
96% in 2nd – 5th year
Allocation rate 98% in third to fifth year
97% from year 6 onwards
100% from year 6 onwards
Top-up premiums: No change
Top-up premiums: 98%
Premium related : 0.1% of Annualised premium per month
Policy Admin Charge 1% of FYP per month for first 5 years s.t. a maximum of Rs. 400 p.m. throughout the
Nil thereafter policy term.
- Discontinuance charge levied (basis year in
Nil after 5 policy years, irrespective of premiums
Surrender penalty which policy is discontinued)
paid
- NIL after 5 yrs, irrespective of premiums paid
First 4 switches in a policy year - Free
- First 12 switches in a policy year - Free
Subsequent switches charged @0.5% of amount
- Subsequent switches charged @0.5% of amount
Switching
switched, subject to a maximum of Rs 500 per
switched, s.t. a maximum of Rs 500 per switch
switch
30 days for yearly and half-yearly frequencies
Grace Period 30 days for all frequencies
15 days for monthly frequency
Where a policy is discontinued, the Company
shall
Reinstatement period = Two years from the due send a notice within a period of 15 days from the
Revival period
date of the first unpaid premium date of expiry of grace period to the Policyholder
to exercise the option to revive the policy within a
period of 30 days of receipt of such notice
Page 23
 Aviva LifeSaver Advantage –
New Vs Old 3/3

Following are projected maturity values for a male aged 35 years, and invests 100% into Enhancer-II fund:
NEW OLD

Annual Gross Projected Yield net of Projected Yield net of

SA PT
premium Investment Fund Value at charges Fund Value at charges
(Rs) (years)
(Rs) Return (%) Maturity (Rs) (%) Maturity (Rs) (Old)

6% 484,895 3.15% 500,439 3.53%

393,750 15
10% 680,219 7.14% 671,764 6.99%
25,000
6% 713,267 3.27% 719,134 3.35%
525,000 20
10% 1,133,672 7.28% 1,098,949 7.02%
6% 969,791 3.15% 1,003,273 3.56%
787,500 15
10% 1,360,439 7.14% 1,347,703 7.03%
50,000
6% 1,426,534 3.27% 1,441,243 3.36%
1,050,000 20
10% 2,267,344 7.28% 2,204,138 7.04%
6% 1,939,582 3.15% 2,006,546 3.56%
1,575,000 15
10% 2,720,878 7.14% 2,695,407 7.03%
1,00,000
6% 2,853,067 3.27% 2,882,487 3.36%
2,100,000 20
10% 4,534,688 7.28% 4,408,277 7.04%

Note: The values are including Mortality and Service Tax Page 24
 Aviva Life Saver Advantage
The improvement over Aviva New LSP

Features Improvement
- Accidental Death Benefit is now in-built to the extent of Base SA s.t. a maximum of Rs. 50 lacs
Accidental Death
Benefit (unlike LSP where Accidental Death & Dismemberment benefit was offered as a rider)
-CHB Rider has been replaced by the Aviva Dread Disease (DD) Rider
- Unlike the CHB Rider, Aviva DD Rider is a stand-alone rider
Health Rider
Benefit: Payout does not impact the base policy
- Income Benefit (IB) Rider has been replaced by the Aviva Child Education (CE) Rider
- With the IB Rider, the maximum rider SA was capped at Rs. 10 lacs i.e. the annual payout was
Replacement of
Income capped at Rs. 1 lac . However with Aviva CE Rider, the rider SA is capped only at the base SA
Benefit: Aviva CE Rider gives the option to select a higher monthly income
Policy - PAC has been reduced to 0.10% of Annualized Premium p.m. subject a maximum of Rs. 400 p.m.
Administration
(unlike LSP where PAC was 1% of Annualized Premium p.m. for the first 5 years with no cap)
Charge (PAC)
Benefit: Motivation for the policyholder to buy the policy
- The Allocation Charge for the first 2 years has been lowered and charge is being levied evenly
Allocation (unlike LSP where the allocation charge was higher in the first 2 years)
Charge Benefit: Motivation for the policyholder to buy the policy

Top-up - There is no limit on Top-up premiums (unlike LSP where top-up premiums were capped at 25% of
premiums the total premiums paid

Switching - 12 free switches in a policy year (unlike LSP with only 4 free switches in a policy year)

Page 25
© Aviva plc 2009
 Aviva Dread Disease Rider

Aviva Dread Disease rider [UIN: 122B014V01]

 If this rider has been opted for and the LI contracts a dread disease covered by this rider or suffers Permanent Total Disability
due to illness or accident, then on survival of LI for 30 days following the confirmed diagnosis of the said dread disease(s) and
subsequently upon our acceptance of claim, the Aviva Dread Disease (DD) Rider Sum Assured will be payable
 Sum Assured allowed for this Rider
– Minimum: Rs. 200,000
– Maximum: Base Sum Assured
[Aviva DD Rider SA should not exceed the SA under the base plan, subject to Rs. 50 lacs (under all policies issued with this
rider or Aviva Health Guard rider)]
 Entry Age: 18 – 55 years Aviva DD Rider
Key Feature Document
 Maximum age for expiry of rider benefit: 65 years or upto PPT of Base product whichever is earlier
 Rider Term = Rider PPT = PPT of Base product

Others: Aviva DD
 This rider can only be taken at inception subject to the prevailing underwriting requirements Rider_KFD
 Aviva DD Rider premium should not exceed 30% of the premium under the base product otherwise rider SA would be reduced
accordingly. If for an SA of Rs. 2 lacs, Aviva DD Rider Premium is greater than 30% of the premium under the Base Product,
this Rider will not be offered.
 Maximum SA under Aviva DD Rider is equal to the SA under the base plan subject to maximum of Rs.50 lacs (for all policies
issued by the Company under this rider)
 Aviva DD rider is offered in stand alone form and its benefits are independent of death benefits. The rider is one single rider
and cannot be split into parts.
 Upon the acceptance of a claim under this rider, Aviva DD rider benefits will cease 
 This rider can be withdrawn at any time during the term of the rider. Once withdrawn this rider cannot be taken again
 No survival or death benefit is payable under this rider. The rider also does not acquire any surrender or paid up value
 The rider will be available to substandard lives with appropriate extra premium as per Aviva’s underwriting practices.
 For further details refer Rider Key Feature Document embedded alongside
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 Aviva Child Education Rider

Aviva Child Education rider [UIN: 122B015V01]

Specifications:
 In case this rider is opted for, and life insured dies during the policy term, a guaranteed monthly amount is payable
till the end of policy term starting from month of notification of death of life insured
 The amount of monthly benefit will be decided by the Policyholder at inception
 The due date of this benefit shall be 1st day of every calendar month till the end of the policy term
 Rider SA = Monthly Benefit chosen at Inception x Policy Term x 12
 Minimum Monthly Benefit under this Rider = Rs. 1,000 p.m.
 Maximum Monthly Benefit under this Rider = No limit [subject to (Monthly Benefit chosen at Inception x Policy Term
x 12) not exceeding Base SA]
Aviva CE Rider
 Entry Age: 18 – 55 years Key Feature Document
 Maximum age for expiry of rider benefit: 70 years
 Rider Term = Policy term of Base product.
 Rider PPT = Approximately half of the Policy Term of Base product KF - Aviva CE Rider

Other features
 This rider can only be taken at inception subject to the prevailing underwriting requirements
 The rider will be available to substandard lives with appropriate extra premium as per Aviva’s underwriting practices
 No survival benefit is payable under this rider, however, if all due premiums have been paid in respect of this rider. a
special surrender value, as decided by Aviva, from time to time, shall be payable on premature policy surrender
 If Aviva CE Rider premium crosses the limits prescribed by the Regulator on riders’ premium, then the rider’s SA
would be reduced accordingly subject to the minimum limit prescribed above. If the reduced rider SA is below the
minimum condition prescribed above then rider won’t be offered.
 If the policy becomes paid-up after all the due rider premiums of this rider have been paid, then also the benefits
relating to this rider will remain in-force till the expiry date of this rider.
 If due premium is not paid within grace period the policy lapses and Aviva CE Rider cover will cease immediately.
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