Know Everything About Aviva Child Plans

With a child to take care of, you surely cannot experiment with your profession and take major risks. One small mistake can lead to a significant financial crunch. However, it would be better if you stop living in fear and secure your child’s future.

Aviva Child Plans could be your ultimate rescuer. With two major plans and a few basic ones, Aviva definitely offers you a lot of options to choose from. And the best thing is that these plans come with a variety of advantages.

Thus, in this post, let’s find out more about the Child Insurance Plan offered by Aviva and how it can benefit you.

Types of Aviva Child Plans

1. Aviva Young Scholar Advantage Plan

This Aviva Life Insurance child plan is a Unit Linked insurance offer that is specially designed to protect the child in case the breadwinner passes away. This plan ensures taking care of the financial needs of the child in case the insured, who is the parent, is not there. This plan offers 7 fund options to choose from.

Features

• The premium can either be invested under the Systematic Transfer Plan (STP), Automatic Asset Allocation (AAA) or self-invested
• Death benefits are available
• Loyalty additions by the company upon paying the regular premium
• Fund's value will be given at the maturity
• 4 free partial withdrawals are available

2. Aviva Young Scholar Secure Plan

This one is a traditional child education plan that helps to secure the essential milestones that may come into the way of your child’s education. It offers three different types of benefits, such as Tuition Fee Support (TFS), College Admission Fund (CAF) and the Higher Education Reserve (HER).

Features

• Depending on the child’s age, premiums are paid accordingly for a specific tenure
• 4 variants of policy plan available
• Different payouts under varying plans
• Upon the death of the insured, the sum paid is 10 times higher than the annual premium or 105% of the total premium paid till death
• CAF or TFS already paid don’t get deducted from the death sum assured

Additional Aviva Child Plans

Apart from these two primary plans mentioned above, Aviva also provides a few others, such as:

Aviva DhanNirman

Towards the end of the premium payment term, this plan offers guaranteed regular Income stream. Apart from that, in the end, it also provides a bonus. Under this plan, you get up to 4 policies to choose from, and the maximum assured sum is Rs. 1 crore.

Aviva DhanVriddhi Plus

This one is a unique plan as it offers 100% return on the paid premium at the maturity in the form of the guaranteed benefit. In case there is any sort of accumulated bonus, you also get the same. In this plan, there are 3 options to choose from, and the premium is paid annually.

Aviva DhanSamruddhi

This one is a traditional insurance plan that is useful in Offering both long-term as well as short-term benefits. Along with the maturity benefit, this plan also provides guaranteed cash back every 5 years. Not just that, but you also get assured yearly additions that go up to 9% of the annualised premium.

Aviva New Family Income Builder

The plan is a mixture of protection and savings option as it provides regular pay for up to 12 months. With this plan, the maximum annual premium for one life is Rs. 1 crore and the assured sum turns out to be 24 times the annual premium.

Aviva Life Bond Advantage

With this specific policy plan, you can achieve all of your long-term goals. It provides 7 varying plan options, useful enough to help you grow your wealth. Additionally, if you want, you can also withdraw partial fund in the 5th year.

Aviva i-Growth

This specific plan offers 3 funds and 3 policy terms that offer a total administrative charge of almost lesser than 1%. In 5 years, you can also withdraw partial fund.

Aviva Child Insurance Customer Care

• Toll-Free Number: 1800-103-7766

• Email ID: customerservices[@]avivaindia[dot]com