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Aditya Birla Sun Life Insurance Company Limited

Guaranteed returns after a month¹.

Guaranteed^# Income

Life Cover

Lumpsum Benefit at maturity in addition to income

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Disclaimer

¹- Provided 0 year deferment & monthly income frequency is chosen at the time of inception of the policy.

Savings Plan

Why Should You Invest in a Savings Plan?

There are four main reasons why everyone must consider investing into a good savings plan.

Get a fixed payout to fund future financial goals:

A savings plan is a great tool to plan to pay off any upcoming expenses through a systematic saving. The investments give you a predetermined payout so, you are guaranteed to get your payout without any risk.

You want a low-risk investment option:

Savings plans are zero-risk investments. The payout does not depend on market fluctuations like in the case of equity or debt fund investments. So, if you want to simply save and get your money back for a particular need - savings plans are perfect for you.

Protect the financial future of your loved ones:

As opposed to just saving your money in a bank account, savings plans give you a life insurance cover as well - meaning your family’s financial security is taken care of while you focus on saving up for specific goals.

Get a guaranteed side income with money back plans:

Through a moneyback plan, which is a type of savings plan, you can achieve a passive income to meet different life requirements.

Types of Goals That You Can Cover With a Savings Plan

A savings plan is a dependable, low-risk financial tool that you can use to create a corpus for a variety of life goals.

Short-term goals:

Short-term goals include any plans that you make in a few years time including purchasing furniture for your home, putting a down-payment for your house purchase, going on a foreign trip with your family, funding your child’s first laptop, buying an anniversary present etc.

Short term goals typically arrive in a few years, and also need smaller amounts to fund.

Long-term goals:

Long term goals include large expenses that need several years of planning and saving. Some examples include your child’s higher education, a destination wedding for your daughter, creating a retirement fund, leaving a legacy corpus for your children etc.

Long-term goals could last several decades, and require you to save for them in a disciplined manner over time.

Our Savings Plans

ABSLI Nishchit Aayush Plan

Guaranteed# Income

Lumpsum Benefit at policy maturity, in addition to Income

Life Cover across policy term

Get:

₹34.27 lakhs²

Pay:

₹10K/month for 10 years

BUY ONLINE

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ABSLI Assured Savings Plan

Life insurance cover with guaranteed^# benefits

Receive Loyalty Additions

Guaranteed^# returns

Comprehensive life cover

Cover spouse in same policy

Get:

Rs.₹5.72 lakhs³

Give

Rs .₹5,000/-
monthly for 6 years:

Buy Online

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ABSLI Assured Income Plus

Short term investment with long term guaranteed² returns.

Flexibility to choose Income Benefit

Loyalty Additions

Long-term regular income

Guaranteed^# Lumpsum Benefit

Get Guaranteed^# benefit:

₹46.20 lakhs⁴

Give for 12 yrs:

₹10000/month

Buy Online

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ABSLI SecurePlus Plan

Secure your life with a second income

Guaranteed^# Income

Loyalty Additions

Second Income

Maturity Benefit

Get:

₹1.95 lakh/year for 6 years⁵

Give:

₹50 K/year for 12 years

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ABSLI Fixed Maturity Plan

Get Guaranteed^# Returns + Life Cover

Guaranteed^# Maturity

Tax Benefits⁴

Single Premium

Life Cover

Get:

₹1.83 lakhs⁶

Give:

Rs.1,00,000/-

Buy Online

Know More

ABSLI Nishchit Laabh Plan

A non-linked non-participating individual life insurance savings plan

Guaranteed^# Lumpsum Benefit

Moneyback Option

3 plan options

Loyalty additions

Get Guaranteed^# Benefit:

₹10.20 lakhs⁷

Give:

₹50000/year for 8 years

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ABSLI Guaranteed Milestone Plan

Life cover and fully Guaranteed^# lump sum benefits

Life cover

Guaranteed^# additions

Sum assured of 15X annualized premium.

Cover your spouse

Get:

Rs.1,23,696/- as maturity benefit⁸

Give:

Rs.15000/- for 6 yrs

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ABSLI Assured FlexiSavings Plan

Guaranteed^# returns plus flexible withdrawals.

Assured Savings

5% Income Booster

Loyalty Additions

Additional benefit on total premium

Get:

Rs.4.88 lakhs⁹

Give:

Rs.50,000 for 5 years

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ABSLI Savings Plan

Financial Protection and Secured Growth

Guaranteed^# Additions

Regular Bonus

Flexible-Premium Paying Term

Flexibility to Choose Policy Terms

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How Does a Savings Plan Work?

You can buy a savings plan by providing basic details about your health, lifestyle habits and income. You then decide the life cover amount that you require, and the policy duration suitable to your needs.

After evaluating your application, a premium amount as well as a maturity value is fixed. As long as you continue paying premiums on time, you can avail all the benefits of the savings plan. With the plan, you will be eligible for one or more of the following types of payouts:

Maturity benefit:

As you reach the end of the policy term, the insurer will pay you a maturity benefit that’s fixed at the time of purchase.

Death benefit:

In case you pass away during the policy term, your family will be paid a death benefit, equal to the sum assured you choose at the time of purchase.

Guaranteed additional benefits and bonuses:

Some savings plans also offer variable loyalty bonuses that are added to the saved amount, and given at the time of maturity.

Once either the maturity or death benefit is paid, the policy is closed.

Benefits of Investing in a Savings Plan

There are many reasons why a savings plan is one of the most popular financial planning tools in the market. Here are some –

The discipline of regular saving:

In its simplest form, the savings plan inculcates a habit of saving towards a goal. This habit can go a long way, when you decide to invest into more complex financial products in the future.

Zero risk. Guaranteed² return:

That’s right. Savings plans come with zero risk, as they’re not linked to any market volatilities. You simply save your money, and get it back when you need it.

Guaranteed² additions and bonuses:

In addition to the amount you save, you will also be entitled to some assured additions and loyalty bonuses that are paid to you at the time of policy maturity.

Short-term & long-term goal planning:

Savings plans are one of the few financial tools that can effectively help you with both short-term goals as well as long-term goals.

High-liquidity:

By nature, savings plans are high liquidity plans. Unlike most other long-term investment plans, they allow you to withdraw your money for emergency needs, just after a few years of beginning the policy.

Loan based on the policy:

Another great feature is that you can take a loan based on the savings plan, without any other collateral.

Life cover:

As you set out to save your money, you can also prepare for the financial impact of your death on your family. The life insurance cover ensures that your family is well-provided for even in your unfortunate absence.

Riders¹:

With your savings plan, you have the opportunity to choose any options riders or add-ons to enhance your coverage, for an additional cost. With these, you’ll get a variety of benefits, within the same plan.

What are the Riders for Savings Plans?

Riders^ are additional benefits that can be attached to a primary savings or insurance policy to enhance the coverage and tailor it to specific needs. These optional benefits come at an extra cost but offer increased protection and financial security. Here are some common riders that can be added to savings plans:

Accidental Death Benefit Rider

This rider provides an additional sum to the beneficiary if the policyholder dies due to an accident.

Critical Illness Rider

This rider offers a lump sum amount if the policyholder is diagnosed with one of the specified critical illnesses during the policy term.

Waiver of Premium Rider

In case of a critical illness, disability, or other specified conditions, this rider waives off future premium payments

Accidental Disability Rider

If the policyholder becomes permanently disabled due to an accident, this rider provides a regular income or a lump sum amount

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Income Benefit Rider

This rider provides a regular income to the family for a specified period following the death or disability of the policyholder

Term Rider

Adds a term insurance cover to the savings plan. This provides a higher sum assured in case of the policyholder’s demise during the policy term

Why Choose the ABSLI Savings Plan?

14 types of plans:

14 types of plans: You can choose from a wide variety of plans and features based on your financial needs and preferences. We also have several options to choose from, such as ABSLI Assured Income Plus, ABSLI Secure Plus Plan, Assured Savings Plan, etc., if you wish to buy your savings plan online.

3 optional Riders¹ to enhance the base plan:

Choose from three excellent Riders or add-on covers - ABSLI accidental death & disability rider, ABSLI accidental death rider plus and ABSLI critical illness rider to get enhanced coverage for special circumstances.

Guaranteed² bonuses:

In addition to the maturity value that’s fixed at the time of purchase, you also receive guaranteed loyalty bonuses on policy maturity.

Flexible premium payment:

Based on your comfort and preference, you can choose monthly, quarterly, half-yearly or annual modes of payment for your savings plan premiums.

Life cover for your spouse:

Savings plan also offers an option to get joint-life protection, so both you and your spouse can be covered under the same plan.

7 Things to Keep in Mind While Buying a Savings Plan

Start early:

When you’re younger, your life insurance premiums will be lower. This translates into lower premiums for your savings plan as well. Plus, it is a good habit to inculcate early in life - so, buy your savings plan as soon as you can!

Compare different plans:

We offer 14 different types of plans that come with a variety of features and benefits. Carefully compare all of them, before deciding the plan that is right for you and your family’s goals.

Choose the right policy term:

You should pick the policy term based on the goals you’d like to achieve with that particular plan. If necessary, work with a financial advisor to help you identify goals properly.

Comfortable premium:

Savings plans require you to pay your premiums diligently, over several months or even years. Make sure you can afford the premiums throughout this period, so you can reap all the benefits of the life cover and the additional bonuses.

Know your premium payment commitment:

Premiums for savings plans depend on the corpus you’re trying to build. Plus, you’ll have to continue paying them until the end of the term to reap all benefits. Make sure you can afford them today, as well as in the future.

Know about the lock-in periods:

Savings plans come with a considerable lock-in period, during which the amount you invest cannot be withdrawn. You should be aware that this is a long-term commitment.

Understand the possible returns on your investment:

Speak to a financial advisor to understand the exact nature of the returns you’ll earn on this investment, by charting it clearly on an excel sheet.

The ABSLI Promise

Bringing together the legacy of 165+ year old Fortune 500 Aditya Birla Group and the global innovation leadership of Sun Life Insurance, Aditya Birla Sun Life Insurance is the best of both worlds. Synonymous with credibility, reliability and trust, we have touched the lives of over 18 Lakh families across the country, and continue to deliver a variety of life insurance plans catering to the different stages of your life.

High Claim Settlement Ratio:

In the year 2021-22, our claim settlement ratio is 98.08%³. Our high claim settlement ratio is a reflection of our commitment to protecting your best interests, always.

Quick, online purchase:

In your fast-paced life, the tedious process of buying insurance can easily get deprioritised. Our quick, online process makes it easy for you to purchase your term plan from the comfort of your home.

Seamless Claims Process:

Our simple, 3-step online claim settlement process and a short TAT (Turn-Around-Time) of just 5.7 days³ (individual business), you can rest assured that your family gets a hassle-free experience while receiving the claim amount.

Affordable Premiums:

We take pride in keeping our premiums low, so that every individual can protect their family’s future through an adequate term insurance cover.

Dedicated Customer Support:

Speak to one of our 79k+ direct selling agents, or visit any of our 363 offices across the country to find the best life insurance product for you. You can also speak to our customer service personnel on our 24X7 toll-free number.

Looking for Assistance?

Need help with your existing policy?
Call us on our toll-free no. for quick response!

1800 270 7000

FAQs

How to save tax by using saving insurance plans?

Saving insurance plans, such as those offered by ABSLI, often come with tax benefits* under the Indian Income Tax Act. Premiums paid towards these plans can be eligible for tax deduction under Section 80C, up to a limit of ₹1.5 lakh per annum. Additionally, the proceeds (maturity benefits or death benefits) from these plans are generally tax-free under Section 10(10D)**, provided certain conditions are met. This makes them an attractive option for tax-saving as well as long-term financial planning.

Which Saving Investment is best to start with, long-term or short-term?

The choice between long-term and short-term saving investments depends on your financial goals and liquidity needs. If you have a long-term goal like retirement or buying a home, then long-term investments, which usually offer higher returns through compounding, are suitable. For short-term goals, such as creating an emergency fund or saving for a vacation, short-term investments that provide quick access to your money and lower risk are preferable.

What Are the Best Saving Schemes With High Interest Rates?

Some of the best saving schemes with relatively high-interest rates include Fixed Deposits (FDs), Recurring Deposits (RDs), Public Provident Funds (PPF), and National Savings Certificates (NSC). Each of these schemes offers different benefits in terms of interest rates, tax savings, and investment tenure. Choosing the right scheme depends on your risk tolerance, investment horizon, and specific financial goals.

How much does the average person have in savings?

The amount an average person has in savings can vary widely based on factors like age, income level, and geographical location. In India, savings rates are influenced by cultural attitudes towards saving and financial security. However, it's generally recommended that individuals strive to save at least 20% of their monthly income, though this can vary based on personal circumstances and financial obligations.

How to save money for 2024?

To start saving money effectively for 2024, begin by setting clear, achievable financial goals. Create a detailed budget to manage your income and expenses, and identify areas where you can cut costs. Consider automating your savings to ensure you consistently set aside a portion of your income. Explore various saving tools and accounts that offer competitive interest rates to maximize your savings potential. Additionally, stay informed about economic trends and adjust your saving strategies accordingly to stay on track with your financial goals.

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Disclaimer

# Provided all due premiums are paid.
^There are exclusions attached to the riders. Please refer rider brochure for more details
² Male- 25 yrs invests in ABSLI Nishchit Aayush Plan with Level Income + Lumpsum Benefit. He chooses premium payment term 10 yrs , policy term 40 years, benefit option -Long Term Income, Sum Assured 7 times of Annualized Premium and Deferment Period 0 years. Annualized Premium is ₹1,20,000 (Exclusive of GST.). Annual Income of ₹43,680 (43,680*40= 17,47,200) + Maturity Benefit (₹16,80,000)= ₹ 34,27,200
³ Assured Savings Plan :Scenario: Healthy female age 21, investment for 6 years, maturity benefit after 12 years, payment frequency monthly, Sum Assured Rs.8,34,000 lakhs, monthly investment Rs.5000/-. You give Rs.3.60 lakhs and get Rs.5,72,760/-.
⁴ Scenario: Healthy male age 21 years, premium paying term 12 years, policy term 13 years, benefit payout period 20 years, payment frequency annually, Assured Benefit Option: Income with Lumpsum Benefit, Sum Assured Rs.16.68 lakhs, Premium Rs.1.2 lakhs/ year- excluding GST), you get Rs.46.20 lakhs by age 54
⁵ ABSLI SecurePlus Plan, Healthy male age: 21 years. Premium Payment Term 12 years, Annual Premium Rs.50,000/-,policy term 15 years, Payment Frequency: Annually, benefit payout period: 6 years, Get Income Benefit of Rs.1,30,600/- +Loyalty Additions of Rs.65,300= Regular Income of Rs.1,95,900 p.a for 6 years.
⁶ ABSLI Fixed Maturity Plan: Scenario: Rs. 1,00,000 Single Premium (exclusive of GST), Male, Age 32, Plan Option A, Policy Term : 10 years. Maturity Benefit: ₹183,050.
⁷ ABSLI Nishchit Laabh Plan, Policy holder age :35 years chooses endowment option and pays annualized premium of INR 50,000. He chooses PPT – 8 yrs, PT – 25 yrs. He receives Guaranteed^# lumpsum benefit of ₹ 6,20,000 and loyalty addition of ₹4,00,000.
⁸ ABSLI Guaranteed Milestone Plan, healthy male, age 21, premium payment term 6 years, premium of Rs.15000/- for 6 years, maturity benefit of Rs.1,23,696/- at the end of policy term of 12 years, a life cover of Rs.2.25 lakhs.
⁹ ABSLI Assured FlexiSavings Plan, healthy male, age 21 years, premium paying term 5 years, policy term 15 years, Annual Premium Rs.50,000 (Rs.2,50,000/-), Get Rs.2,75,000 as enhanced Return of premium on maturity, Get Rs.42,613 as loyalty additions, Income Booster 5%.
ABSLI Nishchit Aayush is a non-linked non-participating individual savings life insurance plan (UIN: 109N137V08)
ABSLI Fixed Maturity Plan is a Non- Linked Non- Participating Individual Savings Life Insurance Plan (UIN: 109N135V04)
ABSLI Assured Savings Plan Non-Linked Non-Participating Individual Savings Life Insurance Plan (UIN: 109N134V09).
ABSLI Assured Income Plus Plan is a Non-Linked Non-Participating Individual Savings Life Insurance Plan (UIN: 109N127V14).
ABSLI Nishchit Laabh Plan (UIN: 109N150V03) is a non-linked non-participating individual savings life insurance plan
ABSLI Secure Plus Plan is a non-linked non-participating individual life insurance savings plan (UIN:109N102V10).
ABSLI Guaranteed Milestone Plan is a non-participating traditional insurance plan (UIN: 109N106V11)
ABSLI Assured Flexi-Savings plan is a non-linked non-participating individual life insurance savings plan (UIN: 109N126V03).
ABSLI Savings Plan is a non-linked participating life insurance endowment plan (UIN: 109N088V02). Some benefits are guaranteed#, and some benefits are variable with bonuses based on the future performance of the participating business and economic conditions.

Guaranteed returns after a month1.

Savings Plan

Why Should You Invest in a Savings Plan?

Types of Goals That You Can Cover With a Savings Plan

How Does a Savings Plan Work?

Benefits of Investing in a Savings Plan

What are the Riders for Savings Plans?

Why Choose the ABSLI Savings Plan?

7 Things to Keep in Mind While Buying a Savings Plan

The ABSLI Promise

Looking for Assistance?

FAQs

Latest Articles

Guaranteed returns after a month¹.