Eligibility for Aviva i-Life

POSTED BY ASNYK ON June 5, 2011 1:01 pm COMMENTS (2)

Hi,

Would be grateful if someone could advise or share some knowledge w.r.t following:-

1) Availability of Aviva i-life term plan for NRI ( in specific for Merchant Naval Officers). The reason being on the website, while filling up the form, the first question asked is whether you are a resident of india.

2) I am sailing on ships for 6 months in a year and for the remainder I am at home in India . I have discussed the same with Aviva and have been assured in verbal by Aviva product expert that since I have an address proof in India in my name and I am staying at that address, they dont foresee any problem with my NRI status. I have already informed them that future annual premium for the policies will be through my NRI account, which they again have accepted verbally, which is a bit unnerving.

3) As per the terms and conditions, Payment of the initial premium is to be made only though credit card of the policy applicant and not any third party. In my case I have a add-on card of my fathers resident savings account. Will payment through an add-on card considered to be third party ?

3) Lastly my major concern is that once I pay the premium and the policy is issued, in case a claim arises in the future,  would it be construed that I had wrongly disclosed my resident status at the time of issue of policy, eventhough at this moment they are very willing and in acceptance of my eligibility for issuance of the policy. I will also be attaching my NRI account statement and also filling Aviva Merchant Naval Questionnaire along with the policy documents.

Many thanks in advance

 

2 replies on this article “Eligibility for Aviva i-Life”

  1. 1) all the NRI can buy the policy if they can show income proof , residence proof in India and be present in India for medical checkup . The reason it asks for residence status is because they might load the premium or just for the sake of information .

    2) You will get the policy , but as your are more risky customer for them , your premium will be loaded .

    3) This they can clarify . I am not sure .

    4) No, it cant happen , if you disclose all the facts right now , the claim will not have any issues later , you need to trust this much because of regulartory practices .

    Manish

    1. ASNYK says:

      Many thanks Manish for your promptly reply,advise and assistance. It has surely helped me in finalizing my decision about the policy. I will check with Aviva about the remaining query and post it in the forum.

      This forum, especially your guidance is definitely a boon for new investors like me.

      Please keep up the great work.

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