8/9/2019 Aviva_NewPensionElite

1/2

Week 1 1/52th ofthe units available atthe end of Week 1 ..

Week 26 1/27th ofthe units available atthe end of Week 26 ..Week 52 Balance units available atthe end ofWeek 52

Month1 1/24th ofthe units available atthe startof 24th month ..

Month12 1/13th ofthe units available atthe startof 12th month ..Month24 Balance units available atthe startof the lastmonth

Reverse STP: During the last2 years (i.e.last 24 months)before maturity,the

following proportion ofunits will be switched fromthe PensionGrowth Fund-II to the Pension ProtectorFund-II:

Month1 1/12th ofthe units available atthe end of Month 1 ..

Month6 1/7th ofthe units available atthe end of Month 6 ..Month12 Balance units available atthe end ofMonth 12

Incase of monthly STP

Incase of weekly STP

Aviva New Pension Elite Easy steps to finalizing your plan

Step 1: Decide the corpus you wish to build for your retirement 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:

Term rider Sum Assured (Optional)

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.

6 Fund options to select from basis your risk appetite

Aviva New Pension Elite Benefits

Loyalty Additions and Maturity Addition: In case you continue this policy

and keep paying all the due regular premiums, then we shall provide

premium related Loyalty Additions during the policy term and maturity

addition, as detailed below. The Loyalty Additions shall be credited in the

form of additional units at the end of relevant policy year. This would be

distributed in the various funds opted by you in the same proportion asdefined for distribution of your regular premium. The Maturity addition

will be paid along with the maturity benefit (vesting).

Loyalty Additions during the policy term: Loyalty Additions will be a

percentage of first year annualized premium and is paid at the end

of 10th policy year and every subsequent 5th policy anniversary,

except at maturity, if the policy term is 15 years or above.

Aviva New Pension Elite A complete solution for a tension freeretirement income

Aviva NewPens ion Elite is a non-participating unit-linked pension plan thatprovides you with flexible investment options,t o build a retirementcorpusthat will provide you with a regularincome,when you require it.Aviva NewPension Elite also provides a sumassured, in addition to your fund value,through a Termrider (optional)that can ensure a minimumdeath benefitf oryourfamilyin case you are notaround.Whats more,based on yourneeds,you can choose from 6 fund options while also having the flexibility toreconsideryour retirementage during the policyterm.

You further benefit by getting Loyalty Additions during the term of thepolicy, as well as Maturity Addition on the date of maturity.

Aviva New Pension Elite - Unique Attractions

Add Life Cover to Pensions: While you buy a pension to mitigate therisk of living too long, you can also add a Term rider under this productto mitigate the risk of early death.

Premium allocation: Maximize your investment, as a high amount ofthe premium paid is invested in the funds chosen by you.

Loyalty Additions and Maturity Addition: Get higher maturityproceeds with Loyalty Additions during the term and MaturityAddition on the date of maturity.

Flexibility to revise the vesting age: Depending on your need, youcan revise your vesting age, i.e. extend or reduce the policy term, onceduring the policy term.

Investment fundoptions: Choose from6 unit-linked funds PensionProtector Fund-II, Pension Balanced Fund-II, Pension Growth Fund-II,Pension PSU Fund,Pension Infrastructure Fund and Pension IndexFund-II,depending on yourinvestment objectives and risk appetite.

Top up facility: Enhance your investments through top up premiums,with 100% allocation into selected funds.

Aviva New Pension Elite Eligibility

Maturity Addition: Maturity addition will be a percentage of first year

annualized premium and will depend on the policy term and the first yearannual premium as per the grid provided below:

Full Surrender:

You have the option to fully surrender the policy after completion of 3

policy years, whereby the surrender value will be paid to you after

deducting applicable surrender charge (refer to Charges for details) and

the policy will terminate. There is no surrender charge after completion of

5 policy years.

Death Benefit:

In case of unfortunate death, the nominee will receive the fund value

pertaining to regular premiums along with top-up premiums (if any) plus

the Aviva Term rider Sum Assured, if opted for.

Maturity Benefit:

At maturity you have an option to withdraw upto 1/3rd of the maturity

value (inclusive of Maturity Addition, if any) as a lump sum and use the

balance to purchase an immediate annuity from Aviva or any other Life

Insurance company registered in India.

Review maturity age:

If the insureds age on maturity is not more than 75 years, then the

policyholder will have following options to review the maturity date

provided the Policyholder has paid all the due regular premiums (foratleast 5 years) and notifies the company at least 180 days before the date

of maturity and the company accepts the request in writing:

a) The policyho lder can opt to discontinue the premium payment and

postpone the maturity date provided the age of the insured on

revised maturity date is not more than 80 years. The policyholder

will be entitled to Loyalty Additions and Maturity Addition (on old

Maturity date in the pattern of Loyalty Additions) if payable

according to the premiums paid.

b) The policyholder can opt to postpone the maturity date and

continue the premium payment for the extended term also

provided the age of the insured on revised maturity date is not

more than 80 years. The policyholder will then be entitled to

subsequent Loyalty Additions and Maturity Addition as per the

increased policy term.

c) Aviva Term Rider will not be further extended in case of extension

in maturity date.

d) The Policyholder can reduce the policy term to pre-pone the

maturity date to any previous policy anniversary date provided the

policy has completed at least ten years and the age of the insured

on revised maturity date is at least 40 years. The policyholder will be

entitled to Loyalty Additions at the old rate falling due during the

revised term but there will be no Maturity Addition.

e) Revis ed policy term after review should be between 10 to 30 years.

Tax Benefits:

Tax benefits will be as per prevailing tax laws. Tax laws are subject to

change.

Benefit Illustration:

This i l lustration is for a male aged 35 years who does not opt for Aviva

Term Rider, pays premiums yearly and invests 100% into the Pension

Index Fund-I I .

Entry age : 18 70 years (last birthday)

1850 years( lastbirthday)withTermrider

Maturity Age : 40 80 years (last birthday)

Policy Term (PT) : 10 30 years

PremiumPaymentTerm (PPT) : Premium payment term is equalto the policy term

Annual premium : Minimum Rs 50,000; no maximum limit

Top-up premium : Minimum Rs 1,000; no maximum limit

Rider allowed : Aviva Term rider

AvivaTermriderSumAssured : No limit, subject to rider premiumnot exceeding 30% of first year

annualized premium

Premium frequency : Yearly, Half yearly, Quarterly,Monthly (ECS / Direct Debit is

mandatory for Monthly frequency)

Policy Term Loyalty Additions during the(Years) term (as % of First years

Annualised Premium)

10 to 14 Nil

15 30.0%

16 31.0%

17 32.0%

18 33.0%

19 34.0%

20 35.0%

21 36.5%

22 38.0%

23 39.5%

24 41.0%

25 42.5%

26 44.0%

27 45.5%

28 47.0%

29 48.5%

30 50.0%

10 25% 50% 60% 80%

11-19 75% 95% 98% 100%

2 0- 30 75 % 1 05 % 1 20 % 1 30 %

Policy Term(Years)

LessthanRs.1 Lac.

> = Rs.1 Lac& lessthanRs.2.5 Lac

> = Rs.2.5 Lac& lessthan

Rs.5 Lac

> = Rs.5 Lac

15

20

30

15

20

30

1,00,000

2,50,000

6% 2,231,622 4.82%

1 0% 3 ,0 54 ,4 61 8 .4 7%

6% 3,440,469 4.92%

1 0% 5 ,3 28 ,6 42 8 .6 2%

6% 6,975,111 5.00%

1 0% 1 4, 20 0, 59 5 8 .7 7%

6% 5,586,555 4.84%

1 0% 7 ,6 43 ,6 53 8 .4 8%

6% 8,638,673 4.96%

1 0% 1 3, 35 9, 10 4 8 .6 5%

6% 17,475,278 5.01%

1 0% 3 5, 53 8, 98 8 8 .7 7%

GrossInvestmentReturn(%)

YieldNetof Charges

(%)

PolicyTerm

(years)

AnnualPremium

(Rs.)

ProjectedFund Valueat Maturity

(Rs.)

50,000

15

20

30

6% 1,105,811 4.71%10% 1,517,231 8.39%

6% 1,705,235 4.84%

10% 2,649,321 8.58%

6% 3,472,556 4.98%

10% 7,085,298 8.76%

The values shown above include all charges and prevailing Service Tax(10.3% including cess)

The assumed rates of return shown in the illustration above are notguaranteed and they are not the upper or lower limits of what you mightget back as the value of your policy, which depends on a number of factors

including future investment performance.

Aviva New Pension Elite Protection and Investment OptionsA. Protection Options:

a) Aviva Term rider [UIN: 122A010V01]

This plan offers Term rider, which you may select at inception or at any

policy anniversary by giving an advance notice. If this rider is optedfor, then in case of your death, your nominee will receive rider SumAssured along with the fund value of regular and top-up premiums.This rider can be detached from any policy anniversary by giving atleast 7 days written notice. Once detached, this rider cannot be optedagain.

Aviva Term Rider cover shall cease after attaining age 60 of the lifeinsured. The policy may continue for the rest of the policy term, if any,without this rider.

Please see key feature of rider for complete details

B. Investment Options:

a) Sys tematic Transfer Plan (STP):

This option allows you to enterand exittheequity marketnot abruptlyatonce but slowlyat differenttimes and atdifferentlevels.This hasthe effectof averaging outthe risks associated with the equitymarket,thus reducing the overall risk you face.

This facilityis available to you ifyou paypremium on yearlybasis andatleast 10% ofpremiums are allocated to Pension ProtectorFund-II

STPis avai lable as a weeklyand a monthlyoption.Underthis,unitsfrom Pension Protector Fund-II to Pension Growth Fund-I I aretransferred through automatic switching free of charge,in thefollowing pattern:

IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIOIS BORNE BY THE POLICYHOLDER.

8/9/2019 Aviva_NewPensionElite

2/2

No.of fullyearspremiumspaid Surrender charge asa percentage of

First Year AnnualPremium

Ifless than one policyyears No surrendervalue

premiumhas been paid

1 32% reducing ata simple rate of0.1% foreach month completed after3 policyyears

2 20% reducing ata simple rate of 0.2% for

each month completed after3 policyyears

3 15% reducing ata simple rate of 0.3% for

each month completed after3 policyyears

4 15% reducing ata simple rate of 0.3% for

each month completed after3 policy years

butreducing ata simple rateof0.4% after

paymentoffull 4 years premium

5 8%reducing at a simple rate of0.4% for

each month completed after4 policy years

butreducing ata simple rateof0.5% after

paymentoffull 5 years premium

Policy year AllocationRate

1 82.50%

2 90.00%

3 onwards 100.00%

Policy year PAC(per month)

asa percentage of First Year AnnualisedPremium

1 to 3 1%4 onwards Nil

Aviva New Pension Elite Charges:

1. Premium Allocation Charge (defined as 100% minus Allocation rate):

There is no allocation charge on top-up premiums.

2. Fund Management Charge (FMC):

An FMC of 1% per annum will be applied on Pension Index Fund-II and

1.35% for all other funds while calculating NAV on a daily basis. It can

be increased subject to prior approval by IRDA.

3. Policy Administration Charge(PAC):

Policy administration charge will be deducted by monthly cancellation

of units from the unit account for first three years.

4. Aviva Term Rider Charge:

Term rider charge will be deducted by monthly cancellation of units

from the unit account. Sample annual charges per thousand Sum

Assured for a healthy male are given below:

Age 25 30 35 40

Rs. 1.2540 1.2881 1.5785 2.365 0

5. Switching Charge:

There are no charges on the first 4 switches in a policy year;

subsequent switches are charged at 0.5% of amount switched, subject

to a maximum of Rs 500 per switch.

6 Reinst atement Charge:

Inrespectof everyreinstatement,aReinstat ementCharge equal to 1.5%

or4.5% of the firstyears annual premium,ifthe reinstatement takes

place respectivelywithin 1 yearor 2 years fromthe dateof firstunpaid

premium,will be recovered fromthe nextLoyalty/ MaturityAddition.

7. Miscellaneous charge:

a) There will be a one time processing fee of0.4% of Aviva TermRiderSum

Assured,subjectto a maximumofRs 5000,ifthis rideris opted for.

b) Servic e tax and education cess will be applied as notified by the

government from time to time.

8. Surrender Charge:

You can surrender your policy after completion of 3 policy years. The

surrender charge will be applied basis the completed years premiums

paid and the date of surrender as per the table below:

Please note:

Surrender value acquires only if at least one full years premium has

been paid

Amount of surrender charge can never be more than the fund value

under the base plan on the date of surrender

There is no surrender charge after completion of five policy yearsirrespective of the number of years premiums paid

There is no surrender charge on the top-up premiums, if any.

Exclusions:

No benefit is payable except fund value as on the date of notification of

death, even though Aviva Term Rider has been opted for, if death occursdue to suicide or attempted suicide within 12 months of the date ofcommencement or date of reinstatement of the policy, whichever is later.

Freelook period:

You have a right to review the policy terms and conditions within 15 days

from the date of receipt of the policy document. If you cancel the policyduring this Freelook period, the company will refund the fund value on the

date of cancellation plus the un-allocated premium (if any) plus any chargededucted by cancellation of units, after deducting a proportionate riskcharges and expenses incurred on medicals and stamp duty.

Disclosures:

Aviva Life Insurance Company India Ltd. is only the name of theInsurance Company and Aviva New Pension Elite is only the nameof the unit linked life insurance contract and does not in any way

indicate the quality of the contract, its future prospects or returns.

The various funds offered under this contract are the names of thefunds and do not in any way indicate the quality of these plans,their future prospects and returns.

Riders are not mandatory and are available for a nominal extra cost.

Please know the associated risks and the applicable charges, fromyour Insurance agent or the Intermediary or policy document or theinsurer.

"*S&P" and "Standard and Poor's" are trademarks of theMcGraw-Hill Companies, Inc. ("S&P"), and have been licensed foruse by IndiaIndex Services & Products Limited in connection withthe S&P CNX Nifty Index. The Product is not sponsored, endorsed,sold or promoted by India Index Services & Products Limited ("IISL")or Standard & Poor's, a division of The McGraw-Hill Companies,Inc. ("S&P"). Neither IISL nor S&P makes any representation orwarranty, express or implied, to the owners of the Product or anymember of the public regarding the advisability of investing insecurities generally, or in the Product.

Participation by banks customers is purely on a voluntary basis(if applicable)

Th e contract of insurance is between the insurer and the insuredand not between the bank and the insured (if applicable)

Risk factors:

U nit Linked life insurance products are different from traditionalinsurance products and are subject to risk factors.

The premium paid in Unit Linked life insurance policies are subjectto investment risks associated with capital markets and the NAVs ofthe units may go up or down based on the performance of the fundand factors influencing the capital market. The insured/policyholder

is responsible for his/her decisions. U nit Linked Funds are subject to market risks and the re is no

assurance or guarantee that the objective of the investment fundwill be achieved.

Pas t performance of the investment funds do not indicate the

future performance of the same. Investors in the Scheme are notbeing offered any guaranteed / assured returns.

Insurance is the subject matter of the solicitation.

Section 41

In accordance with Section 41 of the Insurance Act, 1938, No personshall allow or offer to allow, either directly or indirectly, as an inducementto any person to take or renew or continue an insurance in respect of any

kind of risk relating to lives or property in India, any rebate of the whole

or part of the commission payable or any rebate of the premium shown on

the policy, nor shall any person taking out or renewing or continuing a

policy accept any rebate, except such rebate as may be allowed inaccordance with the published prospectuses or tables of the insurer:

Provided that acceptance by an insurance agent of commission in connec-

tion with a policy of life insurance taken out by himself on his own life

shall not be deemed to be acceptance of a rebate of premium within themeaning of this sub-section if at the time of such acceptance the

insurance agent satisfies the prescribed conditions establishing that he is a

bona fide insurance agent employed by the insurer.

Any person making default in complying with the provisions of this section

shall be punishable with fine which may extend to five hundred rupees.Section 45

In accordance with Section 45 of the Insurance Act, 1938, No policy of

life insurance effected before the commencement of this Act shall after

the expiry of two years from the date of commencement of this Act and

no policy of life insurance effected after the coming into force of this Act

shall, after the expiry of two years from the date on which it was effectedbe called in question by an insurer on the ground that statement made in

the proposal or in any report of a medical officer, or referee, or friend of

the insured, or in any other document leading to the issue of the policy,

was inaccurate or false, unless the insurer shows that such statement was

on a material matter or suppressed facts which it was material to disclose

and that it was fraudulently made by the policy-holder and that thepolicy-holder knew at the time of making it that the statement was false

or that it suppressed facts which it was material to disclose:

Provided that nothing in this section shall prevent the insurer from calling

for proof of age at any time if he is entitled to do so, and no policy shallbe deemed to be called in question merely because the terms of the policy

are adjusted on subsequent proof that the age of the life insured was

incorrectly stated in the proposal.

About Aviva

Aviva Life Insurance is a joint venture between Dabur Group and Aviva Group

a UK based insurance group, whose association with India goes back to

1834. By choosing Aviva Life Insurance you benefit from the management

experience of one of t he worlds oldest Insurance Group, with a history dating

back to 1696. Today, Aviva has 50 million customers in over 27 countries.

Founded in 1884, Dabur is one of Indias oldest and largest groups of

companies. It is the countrys leading producer of traditional healthcare

products.

Aviva New Pension Elite

Annexure

1. Under this product, you can pay premiums yearly, half yearly, quarterly

or monthly. There is a grace period of 30 days to pay your premiums

for all payment frequencies. Monthly premium has to be by Direct

Debit / Electronic Clearing System (ECS) only.

2. Discon tinuance of Premium:

Incase you discontinue premium payment within first 3 policy years,

then: All risk cover, if any, shall cease immediately and death benefit shall

be equal to the fund value of regular and top-up premiums.

All charges except the rider charges, if any, shall continue to bededucted from the unit account.

The policy can be reinstated within two years from the due date of

first unpaid premium.

If the policy is not reinstated within the reinstatement period then

the company shall be liable to pay the Surrender Value, if any, at the

end of the reinstatement period or at the end of three policy years,

whichever is later, and the contract shall terminate thereafter.

Incase you discontinue premium payment after payment of first 3

years premium, then:

The policy shall remain in force for full risk cover, if any, during two

years from the due date of first unpaid premium, during which

period the policy can be reinstated.

If the policy is not reinstated within that period, then the policy

shall be terminated by paying you the Surrender Value.

During the reinstatement period, you shall have following options:

a) sur render the policy and take the surrender value

b) continu e the policy without paying further premium(s) for the full

policy term or till the surrender value pertaining to regular

premiums reaches an amount of first year annual premium,

whichever is earlier. This option can be exercised by giving a written

notice within 60 days from first unpaid premium.

Reinstatement of the policy after expiry of grace period will be subject to

underwriting requirements and Reinstatement Charge (as mentioned

under Charges).

Any Loyalty Addition, if due during the reinstatement period, will be

payable after the policy is reinstated.

Auto foreclosure clause: After paying at least first three-years premium,

if the regular premium payment is discontinued and then surrender value

of units pertaining to regular premium reaches an amount equivalent to

first year annual premium, then the policy shall be terminated with

advance notice by paying the Surrender Value to the Policyholder.

3. Net Asset Value (NAV) calculation: When Appropriation/

Expropriation is applied the NAV of a Unit Linked Life Insurance

product shall be computed as, market value of investment held by

the fund plus/ less the expenses incurred in the purchase/ sale of the

assets plus the value of any current assets plus any accrued income

net of fund management charges and applicable Service Tax less the

value of any current l iabi l ities less provisions, if any. This gives the

NAV of the fund. Dividing by the number of units exiting at the

valuation date (before any new units are al located/ redeemed),

gives the unit price of the fund under consideration.

4. Firs t premium will be allocated based on the NAV of the dat e of

commencement of the policy. For renewal premiums received through

outstation cheque, NAV of the clearance date or due date, whichever

is later, will be applied.

5. Transact ion requests (including renewal premiums by way of local

cheques, demand draft, switches etc) received before the cutoff time

will be allocated the same days NAV and the ones received after the

cutoff time will be allocated next days NAV. The cutoff time will be as

per IRDA guidelines from time to time, which is currently 3:00 pm.

6. T he premium shall be adjusted on the due date even if it has been

received in advance. Also, Aviva will not accept any amount less than

the due stipulated regular premium payable stated in the policy

schedule.

7. There is no provision of loan on the policy

8. Ther e is a provision for nomination, for the death benefit payable,

under the policy as per Section 39 of the Insurance Act, 1938.9. Assignment, in accordance with Section 38 of the Insurance Act,

1938, is permitted under this policy.

10. Aviva will not be liable to any claim until acceptance of risk and receipt

of premium in full.