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Aviva Young Scholar Secure Plan

What is the Plan all About?

Aviva Young Scholar Secure is a non-linked, non-participating insurance plan that is specially designed to provide annual payouts to meet educational expenses for your child. By investing in this plan, you can easily build a corpus that can be used to fulfill child’s educational milestones such as college education or higher education.

4 variants can be opted under this plan.

  • Silver
  • Gold
  • Diamond
  • Platinum

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What are the Key Features?

  • Guaranteed money back
  • Death benefit in the event of unfortunate death
  • Waiver of future premiums
  • Payouts to meet child’s education milestones
  • Financial support for key milestones
  • Rider to enjoy additional protection
  • Get tax benefits

What are the Plan Benefits?

Death Benefit

    In the event of death of the life insured during the term of the policy, the death sum assured is payable, which is higher of ten times of annualized premium, maturity sum assured or 105% of the total premiums paid.If opted for Aviva Term Plus Rider, the rider sum assured is also payable.

Survival & Maturity Benefit

    This policy provides survival and maturity benefits, as applicable. These benefits also vary, depending on the plan option chosen.

Bonus

    No bonus is applicable under this plan, as it is a non-participating insurance plan.

Loan Benefit

    No loan can be availed under this plan.

Surrender Value

    Surrender Value is higher of Special Surrender Value or Guaranteed Surrender Value. Surrender Value is acquired on payment of at least 2 full policy year’s premium.

Tax Benefit

    You can avail tax benefits under section 80C & 10 (10D) of the Income Tax Act. Tax benefits are applicable, as per the prevailing tax laws.

Who can Buy the Plan?

Factor Minimum Maximum
Age (as on last birthday) 21 Years (0 Year For Child) 50 Years (12 Years For Child)
Age at Maturity - 71 Years
Policy Tenure (21 Less Entry Age Of Child) Years -
Premium Paying Term (PPT) 13 Minus Age Of Child (for Entry Age 0 To 8 Years Of Child) 5 Years (for Entry Age 9 To 12 Years Of Child) -
Premium Paying Mode Annually, Semi Annually & Monthly -
Premium Amount Rs 2,200 (monthly), Rs 12,800 (semi Annually), Rs 25,000 (annually) Rs 87,500 (monthly), Rs 5,12,500 (semi Annually), Rs 10,00,000 (annually)
Sum Assured Higher Of Ten Times Of Annualized Premium, Maturity Sum Assured Or 105% Of The Total Premiums Paid -
Freelook Period 15 Days From The Receipt Of The Policy -
Grace Period 30 Days (15 Days For Monthly Mode) -
Plan Type Online -

Is any Rider Available with this Plan?

Aviva Term Plus Rider can be opted under this plan, on payment of additional rider premium.

How the Plan Works?

Rohan at 30 years of age (child 0 years), opts to buy Aviva Young Scholar Secure (Gold Option) with the policy term of 21 years, premium payment term of 13 years, sum assured of Rs 12,00,000 and annual premium of Rs 50,000.

Scenario A: Rohan Survives the Policy Term

In case Rohan survives till maturity of the policy term, he will receive the following amount.

Aviva Young Scholar Secure Plan Scenario A

Scenario B: Rohan dies during the Term of the Policy

In the event of Rohan’s death during any policy year, the death sum assured is payable. It is higher of ten times of annualized premium, maturity sum assured or 105% of the total premiums paid.

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