Aditya Birla Girl Child Investment Plans

From the minute your daughter is born, you should start saving for their future. Be it through market-linked investments, life insurance, or traditional deposit accounts, their financial security should be a top priority. Aditya Birla offers numerous options for parents of girl children to explore. These include ULIPs, term insurance, child education plans, girl child savings accounts, and many more.

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  • Insurer pays premium in case of loss of life of parent

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Policies Sold

Investments can be of different types. Not every person has the risk appetite to invest in the high-risk equity market. Some parents prefer the traditional route of investing in government-backed savings accounts that earn a fixed interest. While the returns may not be as great as ULIPs, they inculcate the habit of regular savings that ultimately helps finance key milestones in their daughters’ lives. 

Types Of Investments For A Girl Child

Broadly, the idea behind savings is to ensure future financial stability for the girl, in your absence or otherwise. This is where insurance comes in handy. Mostly, it is advisable to invest in a child ULIP which offers benefits of savings, market-linked returns, and insurance protection. However, these come with certain risks given the volatility of the market. Other alternatives could be investing in a term life insurance plan along with a fixed deposit or a savings account such as the Sukanya Samriddhi Yojana. 

The following sections discuss these options along with the respective offerings of Aditya Birla Capital and Aditya Birla Sun Life Insurance (ABSLI)

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Aditya Birla Savings Accounts For Girl Child

This type of investment requires a parent/guardian to open an account in the name of their minor child and deposit fixed amounts. The account earns interest as specified for different schemes. The accumulated amount at the end of the tenure is payable to the girl child that she can use to fund her expenses. These are the safest forms of investment given the sovereign backing and assured returns. With Aditya Birla, you have the following options:

  1. Sukanya Samriddhi Yojana

    • It allows deposits in the range of Rs. 250 to Rs. 1,50,000 in a year for a period of 14 years. 

    • The girl child can only withdraw money from the account once she turns 18 years of age. 

    • The Sukanya Samriddhi Yojana account earns interest at the rate of 7.6% per annum for a maximum period of 21 years.

  2. Fixed Deposit

    • You can open an account in the name of your girl child and invest a lump sum that your child shall receive after a fixed tenure. 

    • Along with the maturity payout, the deposit earns interest at the rate of 5.5% to 6.45% per annum. 

    • The lock-in period of 3 months ensures that the money remains invested for that duration and continues to earn interest. 

    • A minimum deposit of Rs. 5000 and a maximum of Rs. 1 Crore can be made in the Aditya Birla Capital fixed deposit account.

  3. Public Provident Fund

    • The minimum and maximum investment limits are set at Rs. 500 and Rs. 1,50,000 respectively.

    • You can choose to extend the investment tenure beyond 15 years if you feel like you need to save more for your daughter’s future. 

    • The best part is the PPF account continues to accrue interest even after the maturity period if you don’t withdraw the sum. 

    • To cover any key milestone in your daughter’s education, you can apply for a loan of up to 25% of the fund value. 

ABSLI Insurance Plans For Girl Child

ABSLI insurance plans for girl child can comprise of - traditional child insurance cum savings plan and ULIP-based investment cum insurance protection plans. Both these types of plans charge a premium amount against the desired life cover. The latter however invests a portion of premiums in market-linked funds to generate higher returns. 

  1. ULIPs - Aditya Birla Girl Child Investment Plans

    Unit-linked insurance plans are typical investment avenues that offer dual benefits of insurance and market-linked returns. These plans are entirely for the purpose of wealth creation and should be explored by parents who expect huge expenses with regard to international tuition fees, technical and business degrees from private universities, etc. 

    The returns from Aditya Birla girl child investment plans depend on the market conditions and the entire risk of investment is borne by the parent. On the death of the parent, the child is either paid the death benefit or the policy continues without the need to pay future premiums. This option can be exercised only if the premium waiver benefit is opted for. 

    The following table lists the ABSLI investment plans that parents of a girl child can explore. 

    ULIP Funds & Investment Options Eligibility Key Features
    ABSLI Wealth Aspire Plan 16 funds - 2 variants - 4 investment options Entry - 30 days to 65 years
    Min. BSA - Rs. 4,00,000
    Top-ups, partial withdrawals, guaranteed additions
    ABSLI Wealth Assure Plus 16 funds - 4 investment strategies Entry - 30 days to 55 years
    Min. BSA - Rs. 2,40,000
    Premium waiver against critical illness, disability, 2 plan variants, top-ups
    ABSLI Wealth Secure Plan 16 funds - 3 investment options Entry - 30 days to 65 years
    Min. annual premium - Rs. 30,000
    Whole life cover, Top-ups, partial withdrawals, guaranteed additions
    ABSLI Fortune Elite Plan 16 funds - 3 investment options Entry - 30 days to 65 years
    Policy term - 10/20/25/30/35/40 years
    Top-ups, partial withdrawals, guaranteed additions, premium waiver
    ABSLI Wealth Infinia 16 funds - 5 investment strategies Entry - 30 days to 65 years
    Min. sum assured - Rs. 14 L (regular pay)
    Return of mortality & premium allocation charges, wealth boosters, loyalty additions
    ABSLI Wealth Max Plan 16 funds - 2 investment options Entry - 30 days to 70 years
    Policy term - 5/10/15/20 years
    Guaranteed additions, partial withdrawals, top-ups

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  2. ABSLI Child Plans

    A child insurance plan is a combination of insurance and investment that helps you budget for your child's future requirements. The child receives the education that she or he desires with for a lump sum payment in adulthood or in the event of your death. It also assists you in staying ahead of inflation and saving appropriately. You may build a substantial fund to provide for your child's crucial life phases, such as education, higher education, and marriage, thanks to the policy's savings and investing component. 

    Key benefits include loan facility to finance higher education for your girl child, dual benefit of insurance and savings, funds for the marriage of the girl child, etc. ABSLI child plans that parents of young daughters can explore are:

    Child Plan Type Eligibility Key Features
    ABSLI Child’s Future Assured Plan Life insurance child savings plan Entry - 18 to 65 years
    Policy Term - 8 to 32 years
    Min. BSA - Rs. 4 L
    Guaranteed¹ Returns, 20% Loyalty Additions, Education Milestone Benefit
    ABSLI Vision Star Plan Money Back insurance plan Entry - 18 to 55 years
    Policy Term - 14 to 23 years
    Min. BSA - Rs. 1 L
    Future Premium Waiver, Flexible Premium Payment, Regular Payouts

    These Aditya Birla girl child investment plans focus largely on the savings aspect and offer guaranteed returns without any risks. The primary difference between ULIP-based investment products and savings-based investment plans is the risk factor. The former incurs higher risks owing to market volatility, but also generates higher returns. You should identify the goals of your girl child and estimate the required corpus accordingly.

*All savings are provided by the insurer as per the IRDAI approved insurance plan.
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

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