Aditya Birla Sun Life Child Plans

Children are a very important and integral part of a person’s life and if you have a child yourself, you will understand what I mean. A parent is always interested in saving for his child’s future. However, starting the work is a big deal. More often than not, a parent just keeps thinking and planning rather than opting for a plan. So, when it strikes for the first time in your mind that you need to start some amount of investment for your child is when you need to opt for a plan and start and then plan.

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Best Child Saving Plans
  • Insurer pays your premiums in your absence

  • Invest ₹10k/month and your child gets ₹1 Cr tax free*

  • Save upto ₹46,800 in tax under Section 80(C)

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

*Please note that the quotes shown will be from our partners
Nothing Is More Important Than Securing Your Child's Future

Invest ₹10k/month your child will get ₹1 Cr Tax Free*

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A child plan is a life insurance policy that has been especially designed for the benefit of the child. The plan may be in the name of the child or maybe in the parent’s name but as long as the same has been especially designed for the benefit of the child, it is good enough. The plan needs to be flexible and usable so that when you need to pay for your child’s higher education in the future, this particular plan that you had opted for can come into use.

So for example, if you have a 5 year old child and you are planning for the child to go abroad for her post graduation when she is 21 years of age, then you need to opt for a plan for a period of 21- 5, i.e. 16 years or less. It would be 15 years also depending upon when the plan is taken and when you need the money. But more often than not, you should not opt for a 20 year plan maybe because you have a finite goal of higher education in 16 years which may be 15 or even 17 years depending on which school she gets through, which country, the rank, admission procedure, season of entry, etc. so these are considerations much later in life, when the child is actually old enough to decide what she wants to study but as a parent you need to start way ahead and thus when you plan for her when she is only 5 years old, you need to financially plan for yourself so that your child gets the lumpsum amount when she is 21 years old and does not need to wait for a few more years for a better return, etc. the child’s future will not wait and thus as parent, you need to plan accordingly.

Planning for a child and his future expenses is a step that each and every parent needs to plan and think way before he actually feels the need to spend. So timing the investment as well as the tenure for investment is one of the primary needs of a parent and opting for a child plan!

Aditya Birla Sun Life Insurance Company Limited (ABSLI)-

Is a joint venture between the Aditya Birla Group and Sun Life Financial Inc., one of the leading international financial services company from Canada. Aditya Birla Sun Life Insurance has contributed to the growth and development of the life insurance industry and is currently one of the leading life insurance companies in the country.  Their customer base comprises of over two million policy holders. The Company offers a complete range of plans comprising protection solutions, children's future solutions, wealth with protection solutions, health and wellness solutions, retirement solutions and savings with protection solutions. Its distribution network is in over 500 cities, 560 branches, around 85,000 empaneled advisors and over 140 partnerships with corporate agents, brokers and banks.It’s been a decade that the company has contributed significantly to the growth and development of the life insurance industry of our country. They have also pioneered in the launch of Unit Linked Life Insurance plans. Their vision is to be a leader and role model in integrated financial services. They value Integrity, commitment, passion, seamlessness and speed.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

What are Child Plans?

The basic aim of these specially developed plans is to provide for the child in the event of the parent’s death where the child may face financial repercussions. Usually the parent is the one whose life will be insured and on his death the company will pay all due premiums so that the plan continues. The benefits promised will accrue on their intended date so that the child can enjoy financial support at the time when he needs it.

Aditya Birla Sun Life Child Plans

Aditya Birla Sun Life Insurance Company currently offers child plan called the Vision Star Plan for the benefit of the child. The plan is detailed below with its features and benefits.

ABSLI Vision Star Plan

A traditional money-back plan which provides periodic payments over the tenure of the plan. The features and benefits of the plan are as follows:

  • The plan participates in the profits of the company by way of earning bonuses and premiums under the plan are required to be paid only for a limited tenure

  • The plan has two options of availing the periodic payouts called Survival Benefits.

  • Under the first option, payouts start 5 years after the completion of the premium paying term and are thereafter paid every two years. The rate of payout is 20% of the Sum Assured in the first two payouts and 30% of the Sum Assured in the last two payouts.

  • Under the second option, payouts start 5 years after the completion of the premium paying term and are thereafter paid every year. The rate of payout is 15% of the Sum Assured for the first two payouts, 20% of the Sum Assured for the next two payouts and 30% of the Sum Assured in the last payout.

  • On maturity, the accrued simple reversionary bonuses and any Terminal Bonus is paid to the policyholder

  • In case of death of the insured during the tenure of the plan, higher of the chosen Sum Assured or 10 times the annual premium is paid to the nominee subject to a minimum of 105% of all premiums paid till the date of death.

  • Furthermore, future premiums are waived off after the death of the insured but the plan continues to run. The payouts depending on the option chosen will be paid as and when they fall due. On maturity, the accrued simple reversionary bonuses and any Terminal Bonus is paid.

  • The payouts can also be deferred by the policyholder if required in which case a higher amount of payout can be availed

  • Loans can be availed under the plan with a minimum value of Rs.5000 and a maximum of 85% of the applicable Surrender Value

  • Rebates are allowed in the premium rates for higher levels of Sum Assured options and also for choosing annual and semi-annual mode of premium payment. The rate of rebate for annual and semi-annual mode of premium payment is 3% and 1.5% respectively.

Eligibility Details

  Minimum Maximum
Entry Age 18 years 55 years
Maturity Age - 75 years
Policy Term Option A – 14 years Option B – 16 years Option A – 21 years Option B – 23 years
Premium amount Depends on the coverage, tenure and age
Sum Assured Rs.1 lakh No limit
Premium Payment Term 5 years 12 years
Premium Paying Frequency Yearly, half-yearly, quarterly or monthly

Applying for a Child Plan from the company:


The company offers specific plans which are available online only. The customer only needs to log into the company’s website, choose the required plan, choose the coverage and provide the details. The premium will be determined using the filled details. The customer then needs to pay the premium online through credit card, debit card or net banking facilities and the policy will be issued


Plans which are not available online can be purchased from agents, brokers, banks, etc. where the intermediaries help with the application process.

Applying For Child Plans through PolicyBazaar

  • On the PolicyBazaar homepage, click on Child Plans under the Personal tab.

  • Click New Quotes to compare

  • Fill your date of birth (DOB), whether you are a smoker/non-smoker, and the payout amount. On the basis of your payout amount, you will get an estimate of your premium. Next click Continue.

  • Fill in your name, email address, city, country code, and mobile number. Click Continue.

  • You will be taken to the Life Insurance quotes page where you will see life insurance quotes of more than 10 insurers. Next, choose the plan as per payment schedule – One Time Payout and Monthly Payout Plans.

  • After reviewing and comparing each life insurance quote, click the premium amount to buy the desired plan.

  • You will see a pop-up on the screen which will give you an overview of the chosen plan like premium, plan features, exclusions, additional riders, etc. Click Proceed.

  • This will take you to the insurer’s website. Fill in the necessary details to buy the plan.

Aditya Birla Sun Life Child Plans - FAQs

Child Plan 1
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Child Plan 2
Average Rating
(Based on 25 Reviews)
Child Plan 3

Nothing is more important than securing your child's future

  • Life Cover paid to family to meet immediate expense
  • Future premiums are paid by the Insurance Company

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Aditya Birla Sun Life Child Plans Reviews & Ratings

4.5 / 5 (Based on 25 Reviews)
(Showing Newest 10 reviews)
Kurukshetra, September 27, 2016
Birla Life Insurance
Policy I purchased from birla sun life insurance is for my child. Premium of the policy is less and claims are high which is very simple to sanction. Policy coverage is high ~90% and service is fast which is provided by the executives of the company.
Lucknow, August 19, 2016
Child Future Security
I have finally found a policy for my child which i buy from birla sun life insurance company. The policy coverage is fantastic and it's premium is less. Claims are high which can be easily sanctioned with help of executives of the insurance company.
Durgapur, July 18, 2016
High Coverage
Birla life insurance is very good insurance company, i purchase child insurance plan and it has great benefits and returns. The premium is low and claims are high which is easy to get due to fast service provided by the staff members.
Khair, July 05, 2016
Child Plan
My father gave me a very nice future securing insurance policy plan which has low premiums and high returns. Child insurance plan, it has good terms and conditions with well behaviour by the staff of the company. Claiming is easy due to fast service.
Ajmer, June 28, 2016
The child plan I have for my child is very good and has many benefits. The premium is low and the claims are high. Policy coverage is high and easy to sanction the claims due to fast service facilitate by the company members. Updates are also mailed to email id.
Navi_mumbai, March 31, 2016
Quality Investment
Finally found the policy for my child and buy it and the plan is birla sun life child insurance policy plan. The policy coverage is high and the premiums are low. The service provided by you guys is superb and the behaviour of your staff is great with good response. Nice future investment with tax saving.
Varanasi, March 31, 2016
Above Average
I purchase birla sun life insurance child insurance policy plan. The policy coverage is high ~93% and the claims are good. The premiums are low approx. 17 K thrice per year. The returning amount is around Rs.27 L. The service provided by the executives is good and the behaviour is nice.
Muktsar, March 31, 2016
Great Deal
My child policy plan is with birla sun life insurance. The policy premium is low and the policy coverage is high. The service is fast and the claiming is become easy without any paper work. The payback amount is around Rs.31 L after policy get mature. Nice future security and it save tax also.
Chittaurgarh, March 31, 2016
Superb child policy plan which provided by birla sun life insurance. The policy coverage is 69% and the claims are ~Rs.19.8 L after policy ends. The investment is ~Rs.13 K quarterly per year till policy end. Services are great and fast too. Great work guys. I like the policy plan.
Agartala, March 31, 2016
Fantastic Policy Plan
Policy coverage is high ~93% and the policy claims are high. Premiums are low approx. 27.1 L quarterly per year. Nice child policy plan which is good investment for future and it save taxes also. Service is very good which facilitate by the executives and staff members. Good job guys.
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