Aviva Life Insurance

Key Insights

check mark icon

Claim settlement ratio (2019-20)

98.01%

check mark icon

Inception

2002

check mark icon

Presence

93 branches

check mark icon

Total death benefit paid

Rs 80.78 Crores

check mark icon

Solvency ratio

2.99

About Aviva Life Insurance

A joint venture between Dabur Group and Aviva plc, namely Aviva Life insurance company, started its operations in 2002. With its many products, Aviva Life insurance company is one of the oldest players in the market. 

Aviva Life insurance company is the recipient of a few awards like, ‘Silver at Effies 2011’ and ‘Best brand of the Year’ 2019 by The Economic Times.

Through Pazcare, buying Aviva group term life insurance for your employees will be a seamless process as we provide the best competitive quotes for your group term life insurance policy. With our tech-enabled dashboard and HRMS integration, the endorsement process also becomes easier and you can manage your employee in a hassle-free manner as well.  

How to buy Aviva Life group term life insurance from Pazcare?

These simple steps allow you to purchase the Aviva Life group term life insurance policy online from Pazcare.

Step 1: Visit https://www.pazcare.com/, click on the products drop-down and choose group term life insurance.

Step 2: You will be prompted to fill a form with details like your name, phone number, work email address, and the number of employees you wish to purchase Aviva Life group term life insurance.

Step 3: Once you submit this form, one of our insurance consultants will get back to you to understand your policy requirements. We will also ask for the active employee data like the employee ID, the CTC, the designation, etc. to give you quotes.

Step 4: Once the data is submitted, we will get back to you with the best quotes for the group term life insurance policy from the Aviva Life insurance company.

Step 5: You can accept the terms and conditions of the policy and pay the premium quoted for that year. The policy gets activated immediately after the payment is done.

Step 6: Our team will help you with the whole process and also take you through the Pazcare dashboard where you can manage the Aviva Life group term life insurance policy.

For further information, write to us at support@getpaz.com or call our customer care at +91 78291 11300. Alternatively, connect with us on Whatsapp using the number +91 81973 79596.

Aviva group term life insurance renewal

The Aviva group term life insurance can be renewed easily with Pazcare at the end of the policy term. Here is how you can renew the same.

Step 1: Get in touch with Pazcare. Submit the form containing all the relevant details like your name, name of the company, number of employees you wish to insure, work email address, and phone number.

Step 2: Once the submission is done, our life insurance consultants will get in touch with you and request you to share the following documents.

  • Active data of the employees - name, age, gender, designation, CTC, Covid status and vaccination report, etc
  • Claim history of the last 3 years along with the reason for the death of the employees (if any)
  • Policy copy

Step 3: After submitting these details you can choose any additional riders to the policy at your convenience. Once you decide the same, we will get back to you with the best quotes for your Aviva group term life insurance policy.

Step 4: The next step is to accept the terms and conditions of the policy and pay the premium for your Aviva group term life insurance policy. 

Step 5: The policy gets activated immediately after the premium is paid. Our team will guide you through the whole process and help you with the onboarding process as well. 

We make sure that your Aviva group term life insurance experience will be seamless using our Pazcare dashboard. Your employees can access their policy using Pazcare’s employee app which is available on both the app store and the play store.

Aviva Life insurance company claim settlement ratio

Claim settlement ratio is one of the few things that an insurance taker must look at before finalizing on an insurance company. A high claim settlement ratio means that the company’s claim settlement is easy and trustworthy. Aviva Life insurance company has a claim settlement ratio of 98.01% for the financial year 2021-22. 

Aviva group term life insurance premium

The Aviva group term life insurance premium depends on various factors like

Designation & CTC of the employee

The designation and the CTC of the employee determine the premium of the group term insurance. For instance, some organizations choose the term insurance plan based on the CTC of the employees. So, higher CTC means a higher sum assured, hence the premiums may increase. Similarly, you can also give it based on designations. For example, 10 lacs for the executive level and 50 lacs for directors. 

Sum assured

Premium will also be based on how much sum assured the employer wants to offer. 

Risk category

The nature of the job and the risks involved for the employees also determine the group premium.

Claim history

In the case of renewals, the claims history for the last 3 years, the reason for the death of the employee also determine the premium of Aviva group term life insurance policy.

Aviva Life group term life insurance benefits

Tax benefits

As employers, when you pay the premium towards the Aviva Life group term life insurance policy, you are eligible to avail of tax benefits under Section 37(1) of the Income Tax Act of 1961.

No medical tests needed

The group term life insurance policy does not require your employees to go through any medical tests before purchasing the policy. However, this may also depend upon the terms and conditions of the insurer. 

High claim settlement ratio

A high claim settlement ratio signifies the credibility of the insurance company. The Aviva Life insurance company has a claim settlement ratio of 98.01% for the financial year 2021-22.

93 branches

With more than 90 branches spread across the country, Aviva Life insurance company is easily accessible for people situated in different parts of India. 

Aviva group term life insurance claim

1

Collect the necessary documents

Firstly, collect all the originals of the necessary documents that have to be submitted to raise a death claim.

2

Submit these documents

Submit the supporting documents along with the policy details of the deceased employee.

3

Claim settlement

Once the policy details are verified along with the supporting documents and the information looks credible, the claim is settled directly with the nominee or the employer.

4

Contact us for assistance

Contact Pazcare for any queries or guided claim assistance at support@getpaz.com or call our customer care at +91 78291 11300.

1

Collect the necessary documents

Firstly, collect all the originals of the necessary documents that have to be submitted to raise the rider claim.

2

Submit these documents

Submit the supporting documents along with the policy details of the insured employee.

3

Claim settlement

Once the policy details are verified along with the supporting documents and the information looks credible, the claim is settled directly to the insured employee.

4

Contact us for assistance

Contact us for any queries or guided claim assistance at support@getpaz.com or call our customer care at +91 78291 11300.

Documents required to claim Aviva group term life insurance

Here are the documents that you require to claim the Aviva group term life insurance policy

  1. Duly filled claim form
  2. Original Death certificate of the insured employee or attested copy (death claim)
  3. Certificate of Insurance
  4. Photo ID proof of the claimant
  5. Current address proof of the claimant
  6. Cancelled cheque of the claimant
  7. Letter/confirmation from the employer

Why buy a group term life insurance
policy online from Pazcare?

  • Choose the suitable policy with our consulting approach
  • Custom-made plan with health and mental wellness add-ons
  • The tech-enabled Pazcare dashboard to manage endorsements
  • Integrate the dashboard with your HRMS tool
Pazcare DashboardPazcare app
circular backgroundcircular background

Aviva Life Insurance customer care number

For any queries or assistance, reach out to us at any time. We provide 24X7 customer assistance.

Aviva Life Insurance

Call icon
1800-103-7766

Available 24X7

Aviva Life Insurance FAQs

When did Aviva Life insurance company commence its operations?

In 2002, Aviva Life insurance company was started as a joint venture between Dabur Group and Aviva plc. 

What is the customer care number of Aviva Life insurance company?

The customer care number of Aviva Life insurance company is 1800-103-7766. 

What is the claim settlement ratio of Aviva Life insurance company?

The claim settlement ratio of Aviva Life insurance company for the financial year 2021-22 was 98.01%.

How do I go about renewing my Aviva life insurance policy?

You can now easily renew your Aviva life insurance policy with Pazcare. Reach out to our insurance consultants. Make sure you submit all the required documents and decide on the riders you need. Team will get back with the best quote shortly. After you agree with terms & conditions, just pay the premium and your policy shall get activated.

How will I receive the claim amount for my Aviva life insurance policy?

The claim amount will directly be transferred to the claimant’s/policyholder’s bank account.