ABSLI Child Future Assured Plan
PROTECTING your child's key milestones with assured benefits and flexibility
PROTECTING your child's key milestones with assured benefits and flexibility
Flexibility to save for Child’s major milestones
Enhanced Insurance Cover Option
Flexibility to choose from various pay terms & policy terms
Rider Options to Enhance Your Risk Cover
Give ₹1 lakh/year for 10 years
Get ₹ 21.58 lakhs total benefit¹.
Get ₹ 21.58 lakhs total benefit¹.
Why buy ABSLI Child’s Future Assured Plan?
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Flexibility to save for Child Education, Marriage or for both the life goals
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Flexibility to choose from various Pay term and Policy Terms
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Option to avail of Enhanced Insurance Cover
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Option to enhance your risk cover with appropriate rider option
Benefits of ABSLI Child’s Future Assured Plan
ABSLI Child’s Future Assured Plan ensures that your aspirations for your child are never compromised
Assured Benefit
ABSLI Child’s future assured plan offers assured benefits to fund your child’s education, marriage, or both future milestones. Simply choose one of the following options at policy inception to receive the assured benefits:
Education Milestone Benefit
Get assured annual pay-outs amounting to a fixed percentage of your sum assured with this policy. You can choose the tenures of payouts to coincide with your Child's education milestones such as High School, Graduation, and Post-Graduation. The Education Milestone Benefit as a percentage of the sum assured is payable as per the table below:
Education Milestone Benefit
Get assured annual pay-outs amounting to a fixed percentage of your sum assured with this policy. You can choose the tenures of payouts to coincide with your Child's education milestones such as High School, Graduation, and Post-Graduation. The Education Milestone Benefit as a percentage of the sum assured is payable as per the table below:
|
Education Milestone Benefit payable at the end of each year |
|||||||||
| Benefit year |
1st | 2nd |
3rd |
4th | 5th | 6th | 7th | 8th | 9th |
| 3 years | 30% | 30% | 40% | ||||||
| 6 years | 15% | 15% | 15% | 15% | 25% | 25% | |||
| 9 years | 10% | 10% | 10% | 10% | 10% | 15% | 15% | 20% | 20% |
Death Benefit
In case of the life insured’s unfortunate demise during the policy period, the death benefit will be paid to the nominee in either of the following ways:
- Assured benefits chosen by you shall be paid on their respective due dates; plus
- Any excess amount of Sum Assured on Death over the discounted value of the payable assured benefits will be paid immediately as lump-sum
- All future premiums shall be waived off.
- All future premiums shall be waived off.
- Nominee has an option to opt immediate lump sum payment. In that case higher of Sum Assured on Death or discounted value of all the future Assured Benefits, will be paid immediately and the policy will be terminated.
Loyalty Additions
If you pay all your due premiums, a 20% loyalty addition is added to your assured benefits at the end of each scheduled pay-out.
Maturity Benefit
The Maturity Benefit shall be the amount of Assured Benefit payable at the end of the Policy Term.
Enhanced Insurance Cover
At inception you can also opt for Enhanced Insurance Cover equal to 50% or 100% or 200% of the sum assured, by paying an additional premium. If the Enhanced Insurance Cover is opted, additional Sum Assured as chosen at inception will be paid immediately to the nominee in case of death of life insured during the policy term. The Nominee will have the option to choose one of the following
ABSLI Child Future Assured Plan With Riders
Accidental Death and Disability Rider
UIN: 109B018V03
Get additional protection for accident leading to death or disability at a nominal cost
ABSLI Accidental Death Benefit Rider Plus
UIN: 109B023V02
Provides 100% of Rider Sum Assured as an additional lump sum amount in case of death due to accident of Life Insured.
ABSLI Critical Illness Rider
UIN: 109B019V03
Provides lump sum on survival of 30 days from the date of diagnosis of any of the specified critical illnesses.
ABSLI Surgical Care Rider
UIN: 109B015V03
Provides lump sum benefit in case of hospitalization for a minimum period of 24 hours for undergoing medically necessary surgery in India.
BSLI Hospital Care Rider
UIN: 109B016V03
Provides daily cash benefit in case of hospitalization for a minimum period of 24 hours for medically necessary treatment of any Illness or Injury payable from the first day for the duration of hospitalization.
ABSLI Waiver of Premium Rider
UIN: 109B017V03
Waives off all future premiums of the base plan and the attached riders throughout the rest of the premium payment in case of diagnosis of Critical Illness, Disability or Death (only if Life Insured is a minor i.e. below 18 years of age and is different from the Policyholder).
Please note that you can opt for either ABSLI Accidental Death and Disability Rider or ABSLI Accidental Death Benefit Rider Plus, but not both. For further details regarding the above-mentioned riders, please refer to respective rider brochure(s) available on our website.
Please note that you can opt for either ABSLI Accidental Death and Disability Rider or ABSLI Accidental Death Benefit Rider Plus, but not both. For further details regarding the above-mentioned riders, please refer to respective rider brochure(s) available on our website.
Secure your Child`s Key Milestones
Invest in ABSLI Child’s Future Assured Plan
How to initiate Claim?
3 quick steps, everything online.
- Fill basic details
- Claim intimation
- Document submission
Faqs
The sooner you start saving in a child future assured plan, the better it is. This gives the money invested more time to grow. An early start ensures that your child has adequate funds for their educational needs and/or for their wedding, when the time comes.
There are three main aspects to consider when buying a child savings plan like this one:
Yes, you can. But the minimum policy terms are eight years when you choose the Marriage Milestone Benefit, 10 years for the Education Milestone Benefit, and 11 years for the Education and Marriage Milestone Benefit. So, consider the timelines before you finalize the policy terms.
While you cannot withdraw money from the plan corpus, your nominee will receive the assured benefits as per the schedule:
The life insurance coverage should take care of your family’s regular expenses, including the costs of education and/or marriage for your child. Your loved ones should not have to compromise on their lifestyle in your absence.
The premium paid annually will provide you tax benefits² under Section 80C of the Income Tax Act, 1961. Any income received from the plan is eligible for tax benefits1 under Section 10 (10D) upon fulfilling conditions/ requirements of the section.
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Income Booster of 5% of the accrued amount each year
Loyalty additions
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ABSLI Jeevan Bachat Plan
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Disclaimer
¹ ABSLI Child’s Future Assured Plan. Plan option: Education & Marriage Milestone. Male | Age: 35 years | Policy term: 25 years | Premium paying term: 10 years | Education milestone benefit period: 3 yrs & Education assured benefit start term: 15 yrs | Marriage assured benefit start term: 25 years | Annualized premium: ₹1,00,000 (excluding tax) | Total Benefits Payout: Rs 21,58,664 [Education Milestone Payout: Rs 10,79,332 (policy year 15,16,17) and Marriage Milestone Payout: Rs 10,79,332 (policy year 25)] | Age of Child: 0 years, Child as a nominee | Sum assured multiple for marriage: 100%
²Tax benefits are subject to changes in tax laws. Kindly consult your financial advisor for more details.
This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). A non-linked non-participating individual life insurance savings plan. All terms & conditions are guaranteed throughout the policy term. GST and any other applicable taxes will be added (extra) to your premium and levied as per extant tax laws. An extra premium may be charged as per our then existing underwriting guidelines for substandard lives, smokers or people having hazardous occupations etc. The insurance cover for the life insured (including minors) will commence on the policy issue date. For further details, please refer to the policy contract. Tax benefits are subject to changes in the tax laws. For more details and clarification call your ABSLI Insurance Advisor or visit our website and see how we can help in making your dreams come true.
UIN: 109N124V01
ADV/1/23-24/3166
