Aditya Birla Sun Life Child Plans

About Aditya Birla Sun Life Child Plans

Aditya Birla Sun Life Child Plans are designed to protect a child’s dreams by offering guaranteed benefits and flexible investment options. These investment plans provide financial support for major life events, even if the parent is not around. They also offer optional riders that enhance coverage, giving families complete protection and peace of mind.

ABSLI Child Plans

Aditya Birla Sun Life Insurance offers the following list of child plans to safeguard the future of your child:

You can learn the key features of the ABSLI child education plans from below:

1. ABSLI Child Future Assured Plan

   ABSLI Child's Future Assured Plan is a non-linked, non-participating savings plan that gives guaranteed benefits for your child’s milestones like education and marriage.

   Key Features:

   • You can choose milestones like education, marriage, or both.
   • Guaranteed payouts are based on the chosen option.
   • On death of the life insured, the plan continues to pay scheduled payouts on time, extra sum assured (if any) as a lump sum, and all future premiums are waived off. The nominee can choose to receive the future payouts immediately at a discounted value.
   • Loyalty additions of 20% are added when all premiums are paid.
   • You can add Enhanced Insurance Cover of 50%, 100%, or 200% by paying extra.
   • Optional riders include Accidental Death & Disability, Critical Illness, Surgical Care, Hospital Care, and Waiver of Premium.

2. ABSLI Vision Star Plan

   The ABSLI Vision Star Plan is a non-linked participating child plan that offers life cover and savings. You also receive bonuses, which help your money grow. 

   Key Features:

   • Assured payouts start after the premium-paying term ends. You can choose annual or half-yearly payouts.
   • Bonuses are added every year and increase your corpus.
   • On maturity, you receive all bonuses plus any terminal bonus.
   • On death, the sum assured is paid, future premiums are waived, and scheduled payouts continue.
   • Optional riders include Accidental Death & Disability, Critical Illness, Surgical Care, Hospital Care, and Waiver of Premium.
   • Reduced paid-up benefit is available if you stop premiums after the minimum period.
   Investment

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   Secure your child’s future with or without you

   Start Investing

   ₹10,000/Month

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   ₹1 Crore^*

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3. ABSLI Guaranteed Milestone - Waiver of Premium Plan

   ABSLI Guaranteed Milestone - WOP Plan is a guaranteed return plan that ensures that a child’s financial needs are met even if the parent is unable to continue paying premiums. The waiver of premium features keeps the policy active without further payments, providing uninterrupted financial security for future milestones.

   Key Features:

   • Guaranteed maturity and death benefits.
   • Guaranteed additions are added every month when premiums are paid on time.
   • Sum assured is usually 15 times the annual premium.
   • Optional riders can be added for extra protection.
   • Tax benefits are available under Section 80C and Section 10(10D).
   • Several combinations of policy terms and premium-paying terms are available.

4. ABSLI Wealth Smart Plus Plan

   ABSLI Wealth Smart Plus Plan is a unit-linked insurance plan (ULIP) that combines investment growth with life cover. It offers multiple fund options and flexible investment strategies, helping parents build a strong corpus for their child’s long-term goals.

   Key Features:

   • You can choose between Smart Life (cover till 75) or Whole Life (cover till 100).
   • There are zero premium allocation charges and zero policy administration charges.
   • You get 5 investment strategies and 20 fund options for flexible investing.
   • Systematic Withdrawal and partial withdrawals are allowed for goals or emergencies.
   • The plan offers death benefit to the nominee and maturity benefit as the fund value.
   • Optional riders, flexible entry age, and tax benefits are available as per current laws.

Why Choose ABSLI Child Plans? 

ABSLI Child Plans are designed to help you build a secure and well-planned future for your child. Following are the key benefits of these plans:

• These plans help you plan your child’s future in a clear and goal-based way.
• You get both life cover and savings in one plan, ensuring protection and financial growth.
• You can choose between guaranteed plans or market-linked options based on your risk comfort.
• Flexible premium terms and payout options help you match the plan with your goals.
• You can add riders for extra protection like critical illness or accidental cover.
• The plans may offer tax benefits as per current tax laws.

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How to Buy Child Plans Through Policybazaar?

To buy a child plan from PolicyBazaar, follow these steps:

• Visit the PolicyBazaar homepage and navigate to the "Personal" tab.
• Click on "Child Plans" from the dropdown menu.
• Fill the lead form by providing your name and mobile number.
• After filling out the lead form, click the "View Plans" button.
• Provide details such as your city, income, your age, and your child's age on the next page then click "Continue."
• You will be directed to the quotes page, where you will find quotes from more than 10 insurers.
• Next, choose the plan type based on the payment schedule – whether it's a one-time payout or a Monthly Payout Plan.
• Select the plan that best suits your needs and click on "Get details". 

Following these steps will guide you through the process of purchasing a child plan from Policybazaar.

Things to Keep in Mind Before Buying ABSLI Child Plans

Before choosing any child plan, it is important to understand the key points so you can make a confident and informed decision.

• The ABSLI Vision Star Plan is discontinued for new customers.
• All child plans require long-term premium payments, so choose a plan you can maintain comfortably.
• ULIP plans depend on market performance, so returns can go up or down.
• Tax rules may change, so always check the latest guidelines.
• Read the plan brochure carefully to understand the features, charges, and benefits before buying.

Conclusion

Aditya Birla Sun Life Child Plans are a strong choice for parents who want to secure their child’s future. These plans offer guaranteed benefits, flexible investment options, and enhanced protection to support a child’s dreams even in uncertain times. By starting early and choosing the right plan, parents can build a solid financial foundation for their child and ensure their goals are always within reach.