Freedom Life Advantage from Aviva life insurance


Aviva Freedom Life Advantage allows you to choose the proportion of savings and protection and change it subsequently, in line with your changing needs, with the option to pay premiums for as few as 5 years, through:

  • Option to increase/decrease Life Cover (Sum Assured)
  • Option to cover husband and wife under the same policy
  • 100% allocation from the sixth year if Annual Premium is Rs. 1 lakh or more
  • Inbuilt Accidental Death cover
  • Loyalty additions every 3 years from the end of 10th policy year
  • Pay off all the premiums in 5 years or choose to pay throughout the term
  • Flexibility to choose Life cover
  • Enhance maturity proceeds and life cover with Top-up Premiums
  • Select from two optional riders for additional protection – Aviva Dread Disease (DD) Rider and Aviva Term Plus Rider
  • 8 fund options (Bond-II, Protector-II, Balanced-II, Growth-II, Enhancer-II, Infrastructure, PSU, and Index-II Funds), AAA & STP


  • Entry age: 2 to 60 years for single life and 18 to 60 years for joint life; (18-55 years and 18-50 years respectively for single life and joint life with riders). For Joint Life option, both the Life Assured must be 18 years of age
  • Policy term: 15 to 30 years (maximum age at maturity 75 years)
  • Premium payment term: 5 years or the same as the Policy Term
  • Premium Payment Frequency: Annually, Half-yearly or Monthly
  • Annual Premium: Minimum Rs. 25,000 for PPT=PT and Rs 100,000 for PPT of 5 years; No limit on Maximum
  • Top-up Premium: Minimum Rs. 5,000; No limit on Maximum
  • Fund Options: Bond II, Protector II, Balanced II, Growth II, Enhancer II, Infrastructure, PSU and Index II Funds
  • Riders Available: Aviva Dread Disease (DD) Rider, Aviva Term Plus Rider

Death Benefit:

  • In the unfortunate event of your death, the amount of Life Cover or Fund Value, whichever is higher, shall be payable to the nominee along with accrued Loyalty Additions (if any)
  • Life Cover or Fund Value, whichever is higher, about top-up premiums, if any, shall also be payable
  • In case of death due to an accident between age 18 to 60, an additional amount under the in-built Accidental Death cover shall also be paid

Rider Benefit:

  • Additional benefits are payable if the following riders have opted on the life of the Life Insured:
  • Aviva Dread Disease (DD) Rider: an additional amount equal to Aviva DD Rider Sum Assured is payable if you contract any of the 18 Critical illnesses covered or on Permanent Total Disability due to an accident or illness. This rider payout does not impact benefits payable under the base plan
  • Aviva Term Plus rider: an additional amount equal to the Aviva Term Plus Rider Sum Assured is paid on the death of insured

Loyalty Additions

  • You will be eligible for loyalty additions if you continue paying all due premiums
  • The addition will be 3% of Fund Value at the end of year 10 and 1.75-2% of Fund Value at the end of every subsequent 3rd policy anniversary until the end of the Policy Term

Maturity Benefit:

  • On maturity, the Fund Value about both regular premiums and top-up premiums will be paid to the policyholder along with accrued Loyalty Additions, if any as on the maturity date.
  • Settlement option – This allows you to keep the money invested in the fund even after maturity and enables you to receive the same systematically over 1 to 5 years. You can opt for this option at maturity

Tax Benefit:

  • The Policy offers tax benefits as per the prevailing laws of the Income Tax Act, 1961. Tax laws are subject to change

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