Aviva Little Master
Child Plans
We all want to make our children's future secure. But how we go about it differs. There are those who think holistically - use less plastic, less water, in order that the Earth survives the kids, the smiling Earth being the legacy to the next generation. Most of us might not think in just those terms - we will only be comfortable if we ensure the financial security of our progeny; that is our legacy to them. This is where insurance can be such an effective tool.
The most favourable aspect of a child insurance plan is that the money is clearly earmarked for the use of the child at a target date for a particular purpose, be it education or marriage. You have financial plan for yourself place; it is equally important that you secure the financial future of your children. The child insurance plan will serve in achieving these goals.
Aviva Little Master is a comprehensive, unit-linked endowment plan which covers the life of the parent as well as the child. It offers you 4 unit linked fund options. Aviva Little Master has several firsts which make it an extremely competitive product; a waiver of premium in the event of the parent's' death, a comprehensive health benefit (CHB) rider which covers 18 critical illnesses, guaranteed additions of up to 7% of the units at maturity as well as a choice of riders which cover you against accidental death, critical illnesses and pay out an income in case of death.
Aviva Little Master is a Unit Linked Endowment Plan, which helps you to fulfill your child's dreams whatever they might be. As a parent, you want the best for your child. The best opportunities, the best exposure and the best education. However, the cost of higher education is no longer cheap. It is increasing with incredible speed. With rising inflation and a higher cost of living, one needs to go that extra mile to ensure that your child comfortably realises his/ her dream. To fulfill that dream, you need to plan well in advance, ideally even before your child goes to nursery school. Aviva Little Master offers you the best solution to meet the educational expenses of your child with relative ease, even in case you aren't around.
What are the key features of Aviva Little Master?
1• Entry Age: Child - 0 to 17 years; Parent - 18 to 45 years (last birthday)
2• Policy Term: 8 to 25 years, subject to the minimum maturity age of the child being 18 years &
maximum maturity age of the child and parent being 25 years and 70 years respectively.
3• Annual Premium: Minimum - Rs.15, 000 for policy terms of 10 years and above; Rs.25, 000 for
policy terms of less than 10 years, Maximum - No limit
4• Sum Assured: Maximum higher of (0.5 *Policy Term or 5)* Annual Premium, Minimum 5 *
Annual Premium
5• Investment Fund options: 4 Funds - Growth, Balanced, Protector and Secure
6• Loyalty Additions: Up to 8% additional units guaranteed at maturity.
The parent is the insured policyholder in this policy and the child is the life insured. The policy automatically vests in the child when the child completes 18 years of age.
Aviva Little Master offers 4 Unit Linked Fund options, which give you the flexibility of choosing how your money should be invested in terms of the risk and the security of the return on the selected Unit Linked investment. You can invest 100% of your premiums in any of the Unit Linked Funds. The minimum allocation in each Fund must be 10%.
