ABSLI Child Future Assure Plan Calculator

ABSLI Child Future Assure Plan calculator is a vital online tool used to calculate and plan the children's financial goals and milestones. This online calculator helps the customers prepare for their financial goals and secure their children's future. It helps the customers to discern the right insurance plan for the benefit of their children.

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Why should you use the Term Insurance Premium Calculator?

ABSLI Child Future Assure Plan calculator helps the customers estimate their corpus required to fund their children's essential milestones such as education and marriage. It helps the customers calculate the amount of savings required to achieve their children's financial goals when they grow up and mature into adults. The company offers multiple plans for children, and one can utilize the calculator to choose the best-suited plan for one’s child.

Some of the reasons to use the Child plan calculator are as follows:

  • It determines the fund corpus needed for the child’s education and marriage.
  • The calculator also takes into consideration possible interest rates before arriving at the sum assured.
  • The most exciting part of the ABSI Child Plan calculator is that it assumes a specific inflation rate while calculating the sum assured, giving the customers insights on the savings amount that needs to be put aside for their children's milestones.
  • The customers can use either plan for a child's education, or child’s marriage, or both by making good use of the online tool.
  • It helps in determining the percentage of the amount covered with the current savings amount.
  • It gives an idea of the premium amount, sum assured, and the amount to be saved for the policy's effective utilization.

The Process to use ABSLI Child Future Assure Plan Calculator

The online tool is easy to use. It is designed and programmed in a user-friendly manner. It comes with interactive features, which makes it a customer-oriented tool. The customers can visit the insurer's official website and choose the desired plan under the sub-menu Child plans. The customer can proceed to use the online calculator with the following steps.

Choose the Goal

The first step is to choose the goal type whether the customer wants to plan the child's education or his marriage. The customer can choose from the two given options depending upon his financial goal. The calculator may also prompt the user to choose one's child's current age when choosing the plan.

Provide the Details of Education

The parent can choose from the options for which he intends to save, such as higher education, graduation and post-graduation. If the parents dream of sending their child abroad to pursue his education, then the parents can also choose the country to which they are sending their child.

Financial Details

The customer can enter the approximate cost of the child’s education as on date and select the child's age at which he will need the funds. The next step is to enter the total savings amount allocated for the purpose and the money saved every month to achieve the target. The customer can also assume the interest rate before calculating the assured sum and premium rate. The final result that provides the sum assured and premium rate can also be recalculated according to its budget.

Advantages of ABSLI Child Future Assure Plan Calculator 

ABSLI Child Future Assure Plan calculator helps the customers to determine the amount of savings required to fund their child’s graduation, post-graduation, and marriage. Some of the benefits of using the online calculator are as follows.

Easy way to Calculate the Premium Amount 

The online calculator provides a simple way of calculating the sum assured for the policy plan. It gives the customers insight into the expenses involved, inflation rates, and interest rates to fund the child's milestones. The customer may realize that he may have to save more or less to achieve their goal.

Quicker Process

A policyholder can access the tool with the click of a mouse by visiting the insurer’s official website. The calculator prompts for relevant information such as the child's age, amount of savings, etc., and the child's age at which the sum assured is needed. The calculator eliminates human error when done using paper and pen.

Zero Charges

Using ABSLI Child Future Assure Plan calculator means that the calculations are done at zero charges, meaning it is free of cost. The online calculator also has interactive features custom-made for users to efficiently identify their financial goals and achieve them.

It eliminates the need for the customers to make frequent visits to the insurer's office locations, thus helping them significantly.

Information required while using ABSLI Child Future Insurance Plan

A customer using the calculator would need the following mandatory information. 

  • Goal type – The customer needs to choose the goal he is trying to attain for his child; in this case, it can be either education or marriage. The customer needs to choose one of the options.
  • The policyholder needs to enter his child's age when buying the policy.
  • In marriage, one needs to choose the age intended to get his child married.
  • The amount required to fund the milestone, total savings in hand, and the amount of money saved each month is also required to estimate the premium and the sum assured.

Key Benefits of buying ABSLI Child Future Assure Insurance Plan

Access to quality education is expensive, and the cost of sending a child to colleges and universities needs careful planning. Some of the benefits of buying a child's future assure insurance plan are as follows.

Education Milestone benefit

Parents who aspire to fulfil their dreams and desires can receive guaranteed annual Assured benefits for their child’s educational needs. The assured benefit payment is designed so that the payouts will commence when the beneficiary child reaches the age between 15 years to 21 years. 

The assured benefit is payable annually as per the Education Milestone benefit period of 3, 6 or 9 years chosen by the policyholder. If the policyholder has chosen three years, the company will pay the assured sum of 30 percent in the first and second year consecutively; the company will pay the rest of the 40 percent of the sum assured in the third year. The payout percentage varies for different benefit periods. 

Marriage Milestone Benefit 

The customers can also use the policy for saving and planning the marriage of one’s child. In this case, the sum assured will be paid to the beneficiary child when he/she attains the age between 24 to 32 years. This option will ensure a lump sum paid to the customer at the end of the policy tenure.

Education and Marriage Milestones Benefits

The customers have the privilege to choose both the milestones under this option. In this case, the company will pay the Education milestone as per the customer's benefit period. In the marriage milestone, the sum assured will be paid to the customers at the end of the policy term.

Maturity Benefits

Suppose there is an unfortunate event, such as the life insured's death during the policy term. The company will pay the death benefit to the nominee. The company will pay assured benefits as per the option selected by the policyholder. The insurer will also waive off all future installments in case of death of the life insured. Alternatively, the nominee has an option to receive an immediate payment of death benefit.

Enhanced Insurance Cover 

Suppose the customer opts for Enhanced insurance cover at the time of inception. In that scenario, the nominee will receive the additional amount in the death of the life insured during the policy term. The nominee can choose to receive the payment as a lump sum or as a staggered payment with fixed annual or monthly income. If the customer opts for staggered payment, the company will pay 20 percent of the enhanced insurance cover at the settlement time; the remaining amount is paid as an annual or monthly income for 5, 10, or 15 years.

ABSLI Child Future Assure Insurance Plan Premium Rates

  • The ABSLI child future-assure insurance plan is a savings plan that secures the child’s future by taking care of important milestones such as education and marriage. The premium rates differ for each purpose chosen by the customer.
  • The age limit of the life insured is between 18 years to 65 years.
  • The policy term for education milestone benefit ranges from 10 to 29 years, for marriage milestone benefit ranges from 8 to 32 years, for both education and marriage milestone benefits range from 11 to 32 years.
  • The payment term for marriage/education milestone benefit is five years; the payment term is six years for marriage and education milestone benefits.
  • The minimum annualized premium is Rs.30000 with a minimum sum assured value of Rs.4,00,000 (*Standard terms and conditions apply)
  • The payment mode is flexible on an annual, semi-annual, quarterly, and monthly basis.
  • There’s a premium rebate offered if both education and marriage milestones are chosen.

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

The customer can use the ABSLI Child Future Assure Plan calculator to calculate and achieve the child's milestone without any worry. It provides a hassle-free experience to the users along with great interactive features.

About Aditya Birla Sun Life Insurance

Aditya Birla Sun Life Insurance is a famous company that offers various insurance policies to guard one’s financial interests throughout his/her lifespan. ABSLI has a flexible, innovative, and caring approach towards its customers and is always keen to add long-term value to those who trust it. ABSLI provides a flagship insurance term plan for children and their future. The insurance covers aspects such as education, marriage, and health. The premium for the term plan can be effortlessly calculated using the ABSLI Child Future Assure Plan Calculator.

FAQs

  • Q1. What is the assured benefit payment term?

    A1. Since policy inception, it is the term when the first installment of the assured benefit becomes due for payment.

  • Q2. What is Child Insurance?

    A2. It is a term insurance plan specifically designed to meet children's milestones such as marriage and education. The child insurance plan provides triple benefits of insurance saving and investment. It clears all financial hurdles for a child’s future.

  • Q3. Why do we need a Child Insurance plan?

    A3. The child insurance plan's primary purpose is to create a corpus and secure the child's plans. It also ensures that all the child's financial needs are taken care of even during the parent's unfortunate demise event.

  • Q4. Should one buy a Child Insurance Plan compulsorily?

    A4. It is not compulsory to buy a child insurance plan, but it is an excellent suggestion to consider buying one for the child's benefit. It helps the child tide through uncertain times such as natural disasters, the death of a parent, providing sufficient funds for the child's higher education, and managing marriage expenses.

  • Q5. When is the right time to buy an investment plan for a child?

    A5. As a responsible parent, one can start investing in a child's insurance plan when a child is born. Investing early not secures the child's financial future and builds significant wealth by the power of compounding. Thus small and regular savings invested in a disciplined manner leads to financial freedom.

  • Q6. What factors are considered while estimating premium?

    A6. Factors such as sum assured premium paying term and age of the life insured are considered for computing premiums. There is an online calculator at the insurer’s official website that helps customers in calculating the premium.

  • Q7. How to buy a child insurance plan using online and offline methods?

    A7. The customer can easily buy the child insurance plan online by visiting the insurer's official website, browsing through the required information, and selecting the appropriate plan by making an online payment. One can also buy offline by visiting the nearest ABSLI branch and getting in touch with the representatives.

  • Q8. What are the important considerations while choosing the right insurance plan for the child?

    A8. Sum assured, and tax benefits are important considerations for buying an insurance plan for the child.

  • Q9. What is a maturity benefit?

    A9. The benefit paid by the company to the life insured at the end of the policy tenure.

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 134 Reviews)
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ABSLI Child Future Assure Plan Calculator Reviews & Ratings

4.4 / 5 (Based on 144 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.
Jasveer
Auraiya, March 22, 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.
Ankur
Kopargaon, March 16, 2021
Different plans at best price
I bought a birla sun life insurance plan and it is reasonable in nature. I have got amazing offer when I took this plan last year. I bought this plan from the website of the policybazaar. Thanks a lot team.
Gauhar
Kakanad, March 16, 2021
Provide financial stability
Recently I bought a birla sun life insurance plan online from the website of the policybazaar. It has given me the sense of financial stability and happiness. I can now save something in the future for my loved ones. Thanks team.
Bhoomi
Avarikarai, March 09, 2021
Different plans at best price
I bought a birla sun life insurance plan and it is reasonable in nature. I have got amazing offer when I took this plan last year. I bought this plan from the website of the policybazaar. Thanks a lot team.
Ahuja
Buxar, March 08, 2021
Great plans
I have recently bought a birla sun life insurance policy from the website of the policybazaar. It is indeed one of the best plan I have got. I am happy and peaceful to buy such a good plan. Thank you team.
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.
Swadhin
Sirsa, October 28, 2020
Tax benefits to be get
Under the Birla life insurance plan I got the tax benefits too. I saved a lot more money at buying the plan of Birla and also I got the tax rebate too. I bought this plan from the policybazaar. Thanks to whole team for giving such best one.
Jatin
Haveli, October 28, 2020
Discount available
I have taken the life insurance policy from the website of the policybazaar. It was of Birla Sun life insurance plan and under the same I got to know about different price and additional features plans. They are wonderful and best. I got the discount too when I bought it.
Virendra
Bilsanda, October 28, 2020
Security and safety
The Policybazaar will give you such platform where you can easily get your type of plan easily. I got the security and sense of happiness when I bought the Birla Sun life insurance plan. A healthy and life changing plan it is. Thanks to whole team of policybazaar.
Vanshika
Ilkal, October 28, 2020
Purchase the policy online
It’s been 3 years that I am the customer of Policybazaar and Birla Sun life. I took the Birla Sun life insurance plan. It is really good and can be useful for a long period of time with better returns. I bought it online portal and it was fast.
Vishesh
Bijnor, October 28, 2020
Variety of policy
I have taken the Birla Sun life insurance plan from the help of the policybazaar. I have got to know about various plans related to life insurance and this plan suits me a lot. Thanks to whole team of policybazaar and Birla Sun life for such tremendous work.
Rajveer
Ahmedabad, October 20, 2016
Superb Plan
Having great experience with my ulip insurance, purchased by birla sun life insurance company. Service is facilitated 24X7 by the executives. Coverage is maximum and claims are high. Online services are really very good and even the renewals are done through online portal of the company.
Ranvir
Puducherry, October 20, 2016
Trusted insurance Plan
I purchased birla sun traditional insurance policy at very low price. The service facilitated to me is fantastic and on time always. Policy coverage is high and claims are high. Claims are easy to sanctioned due to fast service which is given by the staff members.
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.
Vijay
Mohali, September 27, 2016
Future Savings Plan
I have purchased birla sun life pension insurance plan. Service is fabulous from all the other insurers. Premium is less and payed thrice annually. Claims are the best part which are cleared by the staff and executives. Renewal and updates are easy to get through websites of the company.
Piyush
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.
Eklavaya
Bisalpur, August 25, 2016
Quality Investment
After a long search on web, i finally found good ulip insurance policy. I took it for me and my family. Service is unimaginable and always on time. The online portal give easy renewals of the policy and reduces paperwork. The insurance plan cut down my taxes also.
Jayant
Jabalpur, August 25, 2016
Fair Coverage
Wonderful policy i have got in very low investment i.e., bharti axa life insurance and product is traditional insurance. Policy cover maximum expenditures and claims are high which can be easily sanctioned. Updates of the insurance policy is send by the company regularly to my email address.
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.
Vijay
Panipat, August 19, 2016
Best Plan
Policy coverage is approx. 89% and the claims are even better. Service facilitate by the staff members of the company is quick and behaviour is nice. Great work birla sun life insurance and best ulip insurance policy. The online renewal option is very simple to use.
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