Aviva Life ULIP Plans

Aviva Life ULIP Plans

by Editor

Aviva Life Insurance Company

A joint venture between Dabur Invest Corp, subsidiary of Dabur India Ltd, and Aviva Group, British multinational insurance company, Aviva Life Insurance Company is amongst some of the most popular life insurance companies in India.

With its strong presence in 3000 Indian towns and cities and its comprehensive network of around 195 distribution branches, Aviva Life Insurance Company reaches out to hundreds and thousands of Indian insurance seekers each year. In addition, the company has collaboration with 40 different banks and financial institutions to provide its customers, patrons and fans with a vast Bancassurance channel. Quite expectedly, a large number of life insurance seekers pin down their faith upon Aviva Life Insurance Company when it comes to buying life insurance plans in India.

All thanks to the company’s innovative products, customer-centric policies, ever-so-helpful customer support and strong sales force; Aviva Life Insurance Company has become a name to reckon with in the Indian Insurance Industry, over the years. The company leads the insurance industry when it comes to offering the best ULIPs with world-class benefits and facilities. In fact, Aviva Life Insurance Company ranks alongside the first few life insurance companies to come up with innovative unit-linked and with-profit plans.

About Aviva Life ULIPs (Unit Linked Insurance Plans)

Unit Linked Insurance Plans (ULIPs) are innovative life insurance plans that provide insurance seekers with the triple benefit of comprehensive life cover, remunerative investment opportunities and generous tax benefits.

It is really difficult not to talk about Aviva Life ULIP plans when talking about some of the best ULIP plans available in India. With plethora of benefits and a staggering line-up of innovative features, Aviva Life ULIP plans inevitably make for the best investment instrument for any investor looking to generate wealth, enjoy comprehensive life cover and save taxes, all at the same time.

Given the ocean of benefits offered to the policyholders, it’s really no rocket-science to understand why Aviva Life ULIP plans are consistently rated alongside some of the bestselling insurance-investment products in the Indian life insurance industry.

Aviva Life ULIP Plans – Overview

Aviva Life Insurance Company leaves insurance seekers spoilt for choices when it comes to picking the best ULIP plans. The company promises a ULIP plan for every kind of investor, from beginners to the seasoned and from low-risk takers to the risk lovers. In fact, the multifaceted smorgasbord of ULIPs from Aviva Life Insurance ensures meeting every requirement, budget and risk appetite. Here’s a table of the best Aviva Life ULIP plans with some of the key features you must consider before investing your hard-earned money.

Plan Name Max Sum Assured Fund Options Free Switches
Aviva I-GrowthRs. 50,00,000312
Aviva Live Smart 10 X annual premium712
Aviva Young Scholar Advantage Plan 10 x Annual Premium712
Aviva Life Bond Advantage1.25 X Single Premium712

Now that you are acquainted to the top Aviva ULIP plans, let’s explore them quickly to understand their key features, benefits and special highlights in details.

Aviva iGrowth

Aviva iGrowth is a Unit Linked Insurance Plan that has been carefully designed and thoughtfully conceptualized by Aviva Life Insurance Company to help policyholders achieve their wealth creation objectives, without having to run from pillar to post. This amazing ULIP plan from Aviva Life Insurance Company offers comprehensive life cover, death benefits and tax saving opportunities alongside wealth creation.

Key Highlights

Minimum Charges

The total charges incurred on the policy, excluding mortality charges, are as low as 1%.

Fund Options

There are 3 remunerative fund options to choose from, depending upon an investor’s risk appetite and budget.

Flexible Policy Term

There are 3 Policy terms (10, 15 and 20 years) available for policyholders to choose from depending upon their wealth creation objectives.

Partial Withdrawal

The benefit of partial withdrawal is available at the disposal of policyholder after 5 years.

Generous Sum Assured

The plan offers sum assured equal to 10 or 20 times the annual premium to ensure maximum life cover for policyholders.

Eligibility Details

MinimumMaximum
Entry Age18 years (last birthday)50 years (last birthday)
Maturity Age60 years (last birthday)
Policy Term10, 15 or 20 years
Premium amountRs.35, 000Ages 18-40 years – Rs.5 lakhs

Ages 41-50 years – Rs.3 lakhs

Sum AssuredRs.3.5 lakhsAges 18-40 years – Rs.50 lakhs

Ages 41-50 years – Rs.30 lakhs

Premium Payment Term10, 15 or 20 years
Premium Paying FrequencyYearly, half-yearly, quarterly or monthly

Key Features

Aviva iGrowth Plan comes packed with a host of features to help policyholders realize their wealth creation objective in a hassle-free manner. Some of the many standout features of the plan include:

Top Performing Fund Options

Policyholders buying Aviva iGrowth Plan get to choose from three market leading fund options. These options are Balanced Fund II, Bond Fund II and Enhancer Fund II. All the three fund options are known to offer rewarding returns to investors of all risk appetite.

No Medical Examination Required

Aviva iGrowth Plan doesn’t stipulate buyers to undergo the hassles of taking medical examinations. Instead, the plans allows intended policy seekers to fill up a self-declaration of good health to purchase this plan.

Fund Switching

The plan allows for 12 free switches each year to help policyholders meet their future investment goals rather quickly. In addition, the plan also allows for premium redirection facility to help policyholders redirect future premiums into the fund of their choice at any time.

Accidental Death Benefit

The plan comes packed with an inbuilt accidental death benefit to help policyholders secure the future of their family members in the event of a future eventuality.

Sum Assured Deduction

Aviva iGrowth plan allows policyholders to choose their sum assured depending upon their budget and requirements. Policyholders may choose to reduce the sum assured whenever they want. However, there are a certain terms and conditions that are required to fulfilled to avail this feature.

Plan Benefits

Now that we know about the staggering line-up of standout features of the Aviva iGrowth plan, it’s time to get acquainted with the multiple benefits of this innovative ULIP plan by Aviva Life Insurance Company.

Income Tax Benefit

Policyholders are entitled to avail income tax benefits on the premium payment under Section 80C of the income tax act for up to Rs.150,000. In addition, policyholders also get to enjoy tax benefits on the death and maturity benefits under Section 10(10D) of the Income Tax Act.

Maturity Benefit

On the maturity of the plan, the life insured is paid the fund value, including any top-up fund value. Furthermore, this payout could either be availed in one-time lump sum settlement or in instalments for a time period of 5 years after the maturity of the policy.

Loyalty Addition

Policy holders are given the fund value on the basis of the Loyalty additions on the last 3 policy anniversaries. However, in order to avail this, policyholders must ensure that all premium payments are paid till the date of respective loyalty addition. These Loyalty additions are then added to the various fund units in the equal proportion of the pre-determined regular premium distribution.

The rate of Loyalty Addition is based upon the policy term. Here’s a table that illustrates how loyalty additions are added:

Policy Term Added (Policy Anniversary)Loyalty Additions
10 years8th, 9th, 10th1.25%
15 years13th, 14th, 15th2.70%
20 years18th, 19th, 20th3.00%

Death Benefit

In the event of the unfortunate demise of the life insured, higher of the total Sum Assured or 105% of the total premiums paid or the total Fund Value, along with loyalty additions (if any) at the date of death, is paid to the nominee of the policy.

Accidental Death Benefit

The inbuilt Accidental Death Benefit feature of the plan ensures that nominee of the policy is paid out an additional Accidental Sum Assured equal to the base Sum Assured subject to a maximum of Rs.50 lakhs in the event of the accidental death of the life insured.

Aviva Live Smart

Aviva Live smart is yet another amazing unit linked insurance plan from Aviva Life Insurance Company that comes packed with a lot of benefits and features. This plan has been contrived thoughtfully to help policyholders enjoy market linked returns along with comprehensive life insurance coverage and generous tax benefits.

Key Highlights

Minimum Charges

This is one of the best ULIP plans available in the market with the lowest premium allocation, fund management, policy admin and mortality charges.

Fund Options

Aviva Live Smart plan offers 7 fund options. These fund options make it easy for policyholders to maximize the return on investment.

Loyalty Bonuses

The plan has provisions for adding loyalty to increase the total fund value.

Partial Withdrawal

The benefit of 4 free partial withdrawals is available after the completion of 5 years of the policy.

In-built Accidental Death Benefit

In order to ensure that the nominees of the policy aren’t faced with financial troubles in the event of accidental demise of the life insured, the plan comes packed with accidental death benefit.

Eligibility Details

MinimumMaximum
Entry Age2 years65 years
Maturity Age18 years80 years
Policy Term15 years30 years
Premium amountRs.50, 000No limit
Sum Assured(<45 years) – higher of 10 X annual premium or 0.5 X plan term X annual premium
(4 years >)– 10 X annual premium
Plan term X annual premium
Premium Payment TermEqual to Policy Term
Premium Paying FrequencyYearly

Key Features

Aviva Live Smart Plan offers a wide range of features to maximize profits for policyholders and the nominees. Some of the many key features of the plan are listed below:

Market Leading Fund Options

There are 7 different fund options. These options include Balanced Fund II, Bond Fund II, Enhancer Fund II, Growth Fund II, Infrastructure Fund, Protector Fund II, and PSU Fund.

Fund Switching

Policyholders are allowed to avail 12 free switches each year to switch between funds of their choice, either completely or partially. After the exhaustion of free switches, a nominal charge of Rs.0.50% of the amount switched is levied subject to a minimum amount of Rs.25 and a maximum of Rs.500.

Accidental Death Benefit

There is an inbuilt accidental death benefit in Aviva Live Smart Plan. This feature ensures that the nominees of the policy are paid out an additional Sum Assured in the event of the accidental death of the life insured.

Sum Assured Deduction

Aviva Live Smart Plan helps policyholders choose their sum assured according to their budget and requirements. Policyholders can choose to reduce the Sum Assured, provided they opt for Sum Assured multiple higher than the minimum multiple allowed.

Top-up Premiums

Except for the last 5 years of the policy, policyholders can top-up their funds with extra premium in any policy year. In addition, a top-up sum assured is provided by the plan for top-up premium payment. This sum assured is 1.25 times the top-up premium paid. The minimum top-up premium amount should be Rs.5000. These top-up premiums have a lock-in period of 5 years.

Plan Benefits

In addition to the many features, Aviva Live Smart plan also offers a wide range of benefits to the policyholders. Here is a list of just some of the many benefits of the plan:

Income Tax Benefit

Aviva Live Smart Plan offers tax exemption on the payment of premiums for up to Rs.150,000 under Section 80C of the income tax act. Furthermore, Policyholders also get to avail tax benefits on the maturity proceeds and death benefit under Section 10(10D) of the Income Tax Act.

Maturity Benefit

On the maturity of the plan, policyholders are entitled to get the Fund Value including any top-up fund value. This could either be availed in one lump sum payment or in instalments for a period of 5 years post maturity.

Loyalty Bonus

Under Aviva Live Smart Plan, loyalty bonuses accrue on the total fund value and are added to the fund value from the 10th policy year and thereafter every 5 years. But it is important for policyholders to ensure regular premium payments to avail loyalty additions. Here’s a table to understand how loyalty additions are added to the plan:

Policy Term% of Fund Value added as Loyalty Addition
10th year (End)0.75%
15th year (End)0.75%
20th year (End)1%
25th year (End)1%
30th year (End)1.50%

Death Benefit

In the event of the death of the life insured, nominee of the policy is paid the death benefit which is higher of Sum Assured or 105% of total premiums paid till death plus Fund Value. Death benefit under Aviva Live Smart Plan also includes higher of the top-up Sum Assured or 105% of total top-up premiums paid plus top-up Fund Value.

Accidental Death Benefit

The inbuilt Accidental Death Benefit ensures that the nominee of the policy is paid out an additional sum assured in addition to the regular death benefit of the plan. This additional sum assured is called the Additional Death Sum Assured. Additional sum assured could be equal to the base sum assured subject to a maximum limit of Rs. 50 lakhs.

Aviva Young Scholar Advantage Plan

Aviva Young Scholar Advantage is amongst the bestselling unit linked insurance plans (ULIPs) in India. The plan has been carefully designed and thoughtfully conceptualized to provide maximum benefits to a child whose parent is the life insured. The plan is intended to provide ultimate financial security to the child in case any eventuality happens with the parent, i.e., the life insured. In addition, in the event of the demise of the parent, i.e., the life insured, all future premiums are waived off and also the fund value is paid on the maturity of the policy.

Key Highlights

Riders

The plan comes with 3 rider options to choose from.

Fund Options

There are 7 fund options available under this plan. All these fund options are amongst the best performing market funds and are well suited for investors of all risk appetite.

Investment Options

The plan offers two innovative investment options to the policyholders. These options are Systematic Transfer and Automatic Allocation of Fund Options.

Loyalty Additions

Loyalty additions are available to be added to the total fund value after the completion of 11 policy years.

In-built Accidental Death Benefit

This plan too comes with an inbuilt accidental death benefit rider to ensure that nominees are financially secured in the event of accidental death of the life insured.

Eligibility Details

MinimumMaximum
Entry Age21 years50 years
Entry Age (Child Nominee)0 years17 Years
Maturity Age70 years
Policy Term10 years25 years
Sum Assured0.5 x Policy Term x Annual Premium, or

10 x Annual Premium,

whichever is higher

2.5 x Policy Term x Annual Premium
Premium Payment Term5 yearsEqual to Policy Terms
Premium Paying FrequencyYearly, Half-yearly and Monthly

Key Features

Aviva Young Scholar Advantage comes loaded with a wide range of features for policyholders. Here we present to you just some of the many features of this amazing ULIP plan by Aviva Life Insurance Company:

Market Leading Fund Options

There are 9 investment fund options available with Aviva Young Scholar Advantage plan. These options include Bond Fund II, Protector Fund II, Balanced Fund II, Growth Fund II, Enhancer Fund II, PSU Fund, Infrastructure Fund, Index Fund II and Dynamic P/E Fund.

Fund Switching

Like most other Aviva Life ULIP plans, this plan also allows for 12 free switches each year, either completely or partially. The minimum amount that can be switched under this plan is Rs. 5000.

Accidental Death Benefit

This plan comes with an inbuilt accidental death benefit. In the event of the accidental death of the life insured, during the tenure of the policy, the nominee is paid out an additional sum assured in addition to the maturity payout.

Partial Withdrawal

Aviva Young Scholar Advantage Plan offers provisions of 4 free partial withdrawals to help policyholders in the times of financial needs. Partial withdrawals under this plan are allowed only after completion of 5 policy years. The maximum withdrawals for up to 25% of the existing Fund Value are allowed under the policy.

Top-up Premiums

The minimum Top-up amount allowed under the plan is Rs 5,000. Except for the last 5 policy years, policyholders can pay top-up premiums at any time. Top-up premiums have a sum Assured of 1.25 times the value of top-up premium and there is a 5 year lock-in period for top-up payments.

Plan Benefits

Now that you know about the key features of the Aviva Young Scholar Advantage Plan, it’s time to get acquainted with the multiple benefits of this plan. Here are just some of the many benefits of this bestselling ULIP plan:

Income Tax Benefit

Premium payments made for the plan for up to Rs.150000 are allowed as a deduction from the taxable income each year. In addition, the death benefit and maturity proceeds are also tax free under Section 10(10D) of the income tax act.

Maturity Benefit

On the maturity of the plan, the total Fund Value is paid out to the policyholder as the maturity benefit.

Death Benefit

In the event of the death of the life insured (parent), the nominee (child) is paid the Sum Assured plus the Loyalty Benefit as Immediate Death Benefit. All future premiums are then paid by the company in a lump sum and the nominee (child) also gets the total Fund Value on the maturity of the policy.

Rider Benefits

In addition to the inbuilt accidental death benefit rider, Aviva Young Scholar Advantage Plan offers three additional rider options. These options are:

Child Education Rider

In the event of the death of the policyholder, this rider ensures a monthly benefit for the nominee.

Comprehensive Health Benefit Rider

This rider provides comprehensive coverage against total and permanent disability and 18 critical illnesses.

Term Plus Rider

This rider helps policyholders increase the life cover component of their plan beyond the Sum Assured offered under the plan.

Aviva Life Bond Advantage Plan

Aviva Life Bond Advantage is a single premium unit linked insurance plan (ULIP), such that if the Life Insured dies within the policy tenure, the nominee would receive the higher of the Sum Assured or the Fund Value as Death Benefit. However, if the Life Insured survives till the end of the Policy Tenure, then he would receive the Fund Value as Maturity Benefit.

This plan has Accidental Death Benefit rider inbuilt within the plan. Loyalty additions are provided in this plan from 10th policy year onwards and there is also a facility of Systematic Partial Withdrawal after completion of 5 policy years. This plan also has 9 funds for investment purpose.

Key Highlights

Top-up

The plan makes it easy for policyholders to do a top-up anytime, except during the last 5 years of the Policy Term.

Fund Options

There are 9 fund options available under this plan. These funds have been carefully selected by Aviva Life Insurance team to ensure maximum market linked profits for the policyholders.

Systematic Partial Withdrawal

This plan has options for systematic partial withdrawal after the completion of policy years.

Loyalty Additions

Loyalty additions are added to the total fund value after the completion of 10 policy years.

In-built Accidental Death Benefit

An inbuilt accidental death benefit rider has been provided to help nominees secure their future in the event of the accidental death of the life insured.

Eligibility Details

MinimumMaximum
Entry Age2 years65 years
Maturity Age18 years75 years
Policy Term10 years73 years
Premium AmountRs.50000No limit
Sum Assured1.25 times the single premium paid
Premium Payment TermSingle Pay

Key Features

Aviva Life Bond Advantage Plan is yet another popular Aviva Life Insurance plan that offers a host of features and benefits to the policyholder. Here are just some of the many amazing key features of this plan:

Top Performing Fund Options

There are 9 investment fund options available with Aviva Life Bond Advantage plan. These options include Bond Fund II, Protector Fund II, Balanced Fund II, Growth Fund II, Enhancer Fund II, PSU Fund, Infrastructure Fund, Index Fund II and Dynamic P/E Fund.

Fund Switching

Aviva Life Bond Advantage plan offers 12 free switches each year. Investors can choose to avail these free switches for both complete and partial switches. The minimum amount that can be switched under this plan is Rs. 5000.

Accidental Death Benefit

This plan comes with an inbuilt accidental death benefit. In the event of the accidental death of the life insured, during the tenure of the policy, the nominee is paid out an additional sum assured alongside the maturity payout.

Partial Withdrawal

4 free partial withdrawals are available under Aviva Life Bond Advantage Plan. Partial withdrawals are allowed for maximum withdrawals of up to 25% of the existing Fund Value.

Top-up Premiums

The minimum amount for Top-up premium under the plan is Rs 5,000. Top-up premium payment can be made anytime, except for the last 5 policy years. There is a lock-in period of 5 years for top-up payments.

Plan Benefits

Just like its staggering line-up of features, this plan also leaves policyholders sheer spoilt for choices in terms of benefit options. Some of the most notable benefits of the Aviva Life Bond Advantage are:

Income Tax Benefit

Income tax deductions are allowed on the premium payment for up to Rs.150000 under Section 80C of the income tax. In addition, income tax deduction on maturity and death benefits are also allowed under Section 10(10D).

Maturity Benefit

On the maturity of the plan, the total Fund Value is paid out to the policyholder as the maturity benefit. The Fund Value is paid either in lump sum or in instalments over a period of 5 years post maturity.

Death Benefit

In the event of the death of the life insured, the nominee is paid the sum assured or the total fund value, whichever is higher.

Single Pay

Premium payment for the plan is paid just once at the time of the commencement of the policy the Single Pay option.

Applying for a Unit Linked Plan:

Aviva Life ULIP plans are available both online and offline making it easy for insurance seekers looking to invest in their hard-earned money on the best insurance-investment products available in the country.

Applying for Aviva Life ULIPs Online

Aviva Life Insurance Company has enlisted all its innovative ULIP plans at its official website with comprehensive product details. Those looking to invest in Aviva ULI plans may simply fill in their details online and make premium payment using credit card, debit card or net banking. As soon as the payment is processed, the policy is issued and sent at the registered email address of the users.

Applying for Aviva Life ULIPs through Intermediaries

Aviva Life ULIP plans that are not available online can be purchased offline through intermediaries such as agents, banks or brokers. These intermediaries can help insurance seekers with the application process.

Things to Know Before Buying Aviva Life ULIP Plans:

Though there are many different Aviva ULIP plans available on offer, it makes sense for insurance seekers to select the best ULIP plan depending upon on their budget, requirement and specifications. Remember, buying the right ULIP plan can help you maximize returns and realize your future investment goals, without much hassles. In order to help insurance seekers pick the best ULIP, here we present to you 3 things that you must keep in mind.

Don’t miss out on carefully considering your investment objective before zeroing in on one of the many Aviva Life ULIP plans. Carefully mull over what your investment objectives are, are you looking to build a corpus for your retirement, for your child’s higher education, etc. Think about how much you would need to invest to build the intended corpus to meet your investment objectives.

Get acquainted with your risk appetite. Under ULIP plans, the investment portion of the premium is invested in market linked stocks and funds. Therefore, it is important to understand what exactly your risk profile is – are you a high risk taker or believe in carefully calculated low risk investments.

Decide your investment period. Think over the time period you will need to accomplish your future investment goals. This will help you ensure that your choice of ULIP plan doesn’t leave cash strapped with very low returns on your investment.

Look for accidental death benefit rider. Most Aviva Life ULIP plans offer accidental death benefits to the policyholders. Do well to see if the intended Aviva ULIP plan has an inbuilt accidental death benefit rider or not. This will help you safeguard the financial future of your loved ones against any accidental eventualities that may happen to you.

Look for Loyalty Additions. Check if your intended Aviva ULIP plan offers loyalty additions or not. Loyalty additions will help you maximize your returns on investment.

Last but not the least; compare the contract terms, premium quotes, limitations and advantages to ensure that you get the best Aviva Life ULIP plans.

Eligibility Criteria to Buy Aviva Life Term Insurance Plans

Here are the eligibility criteria for buying Aviva Life Term Insurance plans:

Entry age criteria, as mentioned in the policy wordings, must be met.
Maximum age criteria allowed under a ULIP plan must be met.
Intended plan’s premium payment term and mode must be met and agreed with in order to buy Aviva ULIP plans.

Documents Required to Buy ULIP

Listed below are the documents required to buy Aviva Life ULIP plans:

☞ Income proof – Income tax returns, Salary slips, bank statement, etc.
☞ Address proof – Aadhar Card, Driving License, Passport, Voter’s Card, etc.
☞ Identity proof – Aadhar Card, PAN card, Voter’s Card, etc.
☞ Age proof – Aadhar card, voting card, passport, driving license, etc.

Aviva Life Term Insurance Plans- FAQs

Question 1: How to make payments for Aviva ULIP plans?

Answer: To ensure that your Aviva ULIP plan continues to remain in effect and continues to earn your rewarding benefits, it is vital to make premium payments in a timely fashion. In order to make it easy for policyholders to make premium payments for their Aviva Life ULIP plans, the company offers different modes of payment. Some of the many popular modes of payment are:

  • Auto Debit from debit or credit card
  • Airtel money
  • HDFC/SBI/AXIS Bank debit card
  • NEFT
  • ECS SYSTEM
  • Cash/Cheque Payments

Here’s how one can change the payment mode:

Step 1: Enter your policy details.
Step 2: Select your bank account and/or debit/credit card.
Step 3: Now simply authenticate your payment details and confirm the same with one time password.

That’s it! It is this simple to change the payment mode for Aviva Life ULIP policies.

Question 2: How to check Aviva Life ULIP policy status?

Answer: It is easy to check the status of your Aviva Life ULIP policy. All you need to do is to visit the official website of Aviva Life Insurance Company. Log into your account with your Client Id and Password in order to check your Aviva Life ULIP policy status online!

Question 3: How to renew Aviva Life ULIP plans?

Answer: Aviva Life ULIP plans offer easy online renewal process to all its customers and policyholders. Here’s the process for online renewal of Aviva Life ULIP plans:

Step 1: Log in to Aviva Life Insurance Company’s official website with your designated Client ID and password.

Step 2: From the drop down menu, select the policy due for renewal. Now just click ‘Pay Renewal Premium Now.’

Step 3: Select your payment option (NEFT, Credit Card/Debit Card).

Step 4: Now, authenticate and confirm your payment details. Don’t forget to take a print out of the payment receipt for your records.

Question 4: Do Aviva ULIP plans offer any rider benefit?

Answer: Different Aviva Plans offer different rider benefits. Accidental death benefit rider is a common rider that’s available with almost all Aviva Life ULIP plans. In addition, Aviva Young Scholar Advantage Plan comes packed with 3 different rider benefits. These rider benefits are Child Education Rider, Comprehensive Health Benefit Rider and Term Plus Rider.

Question 5: How to cancel Aviva Life ULIP policy?

Answer: In order to cancel Aviva Life ULIP policy, policyholders need to fill in a surrender form, attach all relevant documents, and drop it one of the nearest branches of Aviva Life Insurance Company. If the documents are submitted before 3:00 PM on a given day, the value of units is calculated at that day’s market rate. Otherwise, next day’s market rates are used to calculate the value of units.

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