ABSLI Child's Future Assured Plan

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ABSLI Child's Future Assured Plan

As a parent, it's quite apparent to be concerned about your child's future. It's every parent's dream to provide financial stability to their children at every critical milestone. Having a child insurance plan offers the security that your young ones always remain on track, with you or without you.

ABSLI Child's Future Assured Plan ensures that your child's aspirations are never compromised. Be it marriage or education, the plan offers assured benefits to cover such important life-events. You can accumulate enough regular premiums to receive a lump-sum amount in the future and provide for your child's dream education or a grand wedding.

In case of any misfortune, all the remaining premiums are waived off, and the policy continues to cover all key events in your child's growth story even when you are absent.

Parameters

Details

Policy Term

  • Education Milestone Benefit: 10 to 29 years
  • Marriage Milestone Benefit: 8 to 32 years
  • Education and Marriage Milestone Benefit: 11 to 32 years

Premium Paying Term

Minimum:

  • Education / Marriage Milestone Benefit: 5 years
  • Education and Marriage Milestone Benefit: 6 years

Maximum: 12 years

Premium Paying Mode

Annual, Semi-Annual, Quarterly, and Monthly

Entry Age

Age as of last birthday in between 18 -65 years of age.

Maturity Age

75 years

Grace Period

30 days( 15 days for monthly mode)

Sum Assured

Minimum: Rs. 4,00,000

Maximum: No Limit. It is subject to Board Approved Underwriting Policy.

Liquidity

A loan can be taken against the policy once it acquires surrender value.

Benefits of ABSLI Child's Future Assured Plan

Assured Benefits

The plan provides your child with assured benefits on their key milestones, including education, marriage, or both. You can choose an option while buying the policy and receive assured benefits under the same.

  • Education Milestone Benefit: The plan assures a fixed percentage of the sum assured as annual payouts, the tenure of which can be set to coincide with your child's important educational events, be it high-school, graduation, or post-graduation.
  • Marriage Milestone Benefit: You get to select a policy term for your child's marriage at the time of policy inception. The plan assures you a lump-sum payout at the end of the chosen policy term when your child falls within the age bracket 24 to 32 years.
  • Education and Marriage Milestone Benefits: As the name suggests, both Education and Marriage benefits can be chosen under this option.

Maturity Benefit

It's the Assured Benefit amount payable towards the end of the ABSLI Child's Future Assured Plan policy term.

Death Benefit

In case of an unfortunate demise of the life insured, the nominee is paid in one of the following ways:

  • Assured benefits will continue to be paid as per respective dates chosen and
  • He will also get any amount in excess of the sum insured paid as lump-sum immediately.
  • All future premiums will be waived off.

Or

  • The nominee has the right to opt for a lump-sum payment. In that case, the policy will be terminated and higher of the sum insured, or all future assured payments at a discounted value, will be paid immediately.

Loyalty Addition

If you're pro-active with your premium payments, you will be rewarded 20% extra on your Assured Benefits after each scheduled payout.

The premium for ABSLI Child's Future Assured Plan

With ABSLI Child’s Future Assured plan, you can get funds in the future for your child's wedding or education. In case of any unfortunate event, the remaining premiums will be waived off.

The premiums will vary as per the plan variant, age of the policyholder, policy term, the sum assured, and Premium Paying Term.

The premium can be paid yearly, half-yearly, monthly, or even quarterly.

Minimum Annualized Premium- Rs 30, 000 p.a.

*Standard T&C Apply

Additional Riders for ABSLI Child's Future Assured Plan

Following riders can be added at a fraction of the cost for adding protection and enhancing your insurance cover.

  • ABSLI Accidental Death and Disability Rider
  • ABSLI Hospital Care Rider
  • ABSLI Critical Illness Rider
  • ABSLI Surgical Care Rider
  • ABSLI Accidental Death Benefit Rider Plus
  • ABSLI Waiver of Premium Rider

Eligibility for ABSLI Child's Future Assured Plan

The eligibility for this plan is 18 to 65 years. If an enhanced insurance cover is chosen, then the entry age is up to 50 years.

The maximum maturity age is 75 years.

How to buy ABSLI Child's Future Assured Plan online?

  • You can log on to the company's website.
  • Provide all the details after choosing the required plan and coverage.
  • The premium will be calculated as per the fields populated.
  • You can then pay the premium online using a debit card, credit card, or net banking facilities and the policy will be issued to you after that.

Exclusions of ABSLI Child's Future Assured Plan

If the life insured commits suicide within 12 months from the policy's commencement, the total premium paid till date or the surrender value available as of death date is paid out. The amount prescribed in the death benefits section is no more applicable.

FAQs

Written By: PolicyBazaar - Updated: 31 December 2020

ABSLI Child's Future Assured Plan Reviews & Ratings

4.5 / 5 (Based on 32 Reviews)
(Showing Newest 25 reviews)
Pragya
B.khajuripada, March 31, 2021
Beneficial product
The term insurance which I bought from the birla sun life insurance is one of the best plan I have got. It was done from the website of the policybazaar. I really like the offers and the plans are really beneficial for me and my family. I am thankful to both the team. Thanks.
Shilpa
Rohinaa, March 30, 2021
A great financial services
I have recently got the term insurance plan from the website of the policybazaar. It was the plan of birla sun life insurance. This company is good and have been providing with a lot of better services to me and my family. Thanks team.
Dev
Ambaliyasan, March 30, 2021
Beneficial product
The term insurance which I bought from the birla sun life insurance is one of the best plan I have got. It was done from the website of the policybazaar. I really like the offers and the plans are really beneficial for me and my family. I am thankful to both the team. Thanks.
Avinash
Maandhata, February 16, 2021
Beneficial plan:
I have recently bought a term insurance plan from the policybazaar. It was of aditya birla sun life insurance and that plan is superb. I got to know about various benefits in one plan. Thanks a lot team.
Brijesh
Laharpur, February 16, 2021
High sum insured:
I recently bought a aditya birla sun life term insurance policy from the policybazaar. It is a nice product and has helped me in securing my family’s future. I took the plan with high coverage. Thanks a lot team policybazaar.
Madhvan
Badayun, October 20, 2016
Perfect Policy
Birla Sun life insurance company is good insurers and they provide wide range of insurance policies. Policy coverage is high and the claims are even better. claiming amount is big which is sanctioned when the policy get matured. Online portal is for online renewals of the insurance policies.
Gunjan
Nainital, September 27, 2016
Big Savings
Friend of mine suggested me a term insurance policy which I bought from birla sun life insurance company ltd. Service is absolutely fantastic which is facilitated by the whole term of the insurance company. The renewals are made easy through the service of online portal service.
Tapish
Ajmer, August 25, 2016
Birla Insurance Policy
Recently i have purchased term insurance policy through birla sun life insurance. Premium is less and returns are high. Coverage is very high and claiming is very simple. Service is fast provided by company members.
Vinay
Greater_noida, July 18, 2016
Term plan
Term insurance plan which i purchased from birla sun life insurance. The policy premiums is very less and claims are high. The policy coverage is high and service provided by the executives and members of the company is great.
Hatim
Pipili, July 05, 2016
Very Nice
The term insurance plan which i purchase in less investment amount and it has low premiums too. Service given by the staff of the company is fantastic and even there web service is easy which can do renewals and many more things.
Saurabh
Bawal, June 28, 2016
Good Policy
My term insurance plan is very good and returns are much more than investment. The premium of the policy is low and claims are high. Policy coverage is fantastic and claims are easily sanctioned due to superb service provided by the company members. Nice future investment.
DEEPA
Mumbai, May 14, 2016
THREE EASY STEP
I M VERY HAPPY TO HAVE THIS PLAN AS IT IS VERY EASY TO TAKE IN THREE EASY STEPS WHICH WOULD BE NOT AVAILABLE WITH DIFFERENT POLICIES IN INSURANCE SECTOR.SERVICE PROVIDED BY BSLI IS SO EXCELLENT FOR WHICH I M SUGGESTING FOR OTHERS TO TAKE THIS PLAN.
Hitesh
Pune, March 30, 2016
Full Point
I purchased birla sun life insurance policy and the product is term insurance policy plan. The premiums are ~Rs.7 K per month. The claims are good and easily sanctioned. Service facilitate by executives and staff members are very nice and fast. The policy saves taxes and it is really very good investment for future.
Nitin
Agartala, March 30, 2016
I Like The Policy Plan
Searching for life insurance and finally got one from birla sun Life Insurance one of the best insurance company. I took term insurance policy plan. The premium is normal and the policy coverage is approx. 93% and claims are high. The service is fine and the web services are also good.
Mayank
Manesar, March 30, 2016
Damn Good
My term policy plan is with birla sun life insurance policy plan. The policy coverage is high ~80%. Claims are easily sanctioned because of the quick services. The amount of payback is Rs.23 L. I'm satisfied with this policy plan.
Tarun
Mohali, March 30, 2016
Perfect Term Plan
My term policy plan has 90% policy coverage. Claims are high and easily sanctioned due to fast service. Premiums are ~37 K annually. Service is fast and always with taking good care by executives and staff members. Thank you, birla sun life insurance for this great policy. I like it very much.
Poonam
Udaipur, March 30, 2016
Fast Services
My term policy plan is good but the claims are less as compare with investment. The premiums is ~9.2 K twice per year. And returns are around Rs. 21 L. Birla sun life insurance is basically good policy company like they give 5% extra less for women on premiums. I like it.
Ritesh
Ranchi, March 30, 2016
Super Policy
I buy birla sun life term insurance policy plan. The policy coverage is good about 81% and the claims are high. The premium is low ~rs.33 K thrice per year. The services are fast and the claims are easily sanctioned. My taxes are also saved due to this policy. Good investment good policy plan, I like it.
Jignesh
Lonavla, March 30, 2016
Much Better Plan
Birla sun life insurance term policy plan i buy in low premiums and the policy coverage is 95% with good claims. The service is great provided by the executives and the 5% less on premiums for women. I like the policy plan. Behaviour also really nice from the staff members.
Rahul
Mysore, March 30, 2016
Fair Deal
The policy provide benefits according to premiums, so the term policy plan which i buy from birla sun life insurance is fair deal. Policy coverage is 70% and the claims are little bit low as the premiums are low. Around 23 L is the returns and the online portal is good and respond well.
Yajan
Jammu, March 30, 2016
Good Future Investment
My term policy plan is with birla sun life insurance. It has low premiums and the returns are high. Policy coverage is 90% and the claims are sanctioned easily form the insurance department. The taxes are not for premiums and claims. Even the 5% extra benefits for women on premiums. I like the policy plan, nice future investment.
Saahir
Malapuram, March 30, 2016
Fine Term Plan
Birla sun life insurance is equally good as other insurers for term insurance policy plan. The policy has low premiums and 5% extra less for women. The policy coverage is high with high claims and the claiming part is easy and no paper work so no waiting. Nice job guys.
Aman
Chandigarh, March 30, 2016
Best Policy
Policy plan is wonderful with huge benefits like low premiums and the policy coverage is high 90%. Claims are are good and the payback amount is around Rs.25 L after the policy get mature. Internet services are great with easy interface and vast variety of policies are there with full descriptions.
Jiten
Hyderabad, March 30, 2016
Wonderful
Birla sun life insurance is one of the best insurer for term insurance policy plan. The policy coverage is 93% and the claims are good even the the claiming procedure is easy because the service provided by the company members are good and even the web services are even better. The premiums are low and for women 5% less extra benefits.
Devesh
Faridabad, March 30, 2016
Good Plan
I buy term insurance policy plan from birla sun life insurance. The policy coverage is 80% and the premiums are low ~25 K per year. The claims are easily sanctioned because the services are fast from the executives side and from online web services also. The policy premiums are 5% less for women.