Aditya Birla Sun Life Insurance Child’s Future Assured Plan is a life insurance savings plan, which offers assured benefits to take care of the important milestones in your child’s life – Education and Marriage
Key Features of this Plan
- Complete Financial Security
- Flexibility to save for child’s Education, Marriage or for both the life goals
- Flexibility to choose from various Pay term and Policy Terms
- Worry free goal achievement through Policy Continuance Benefit
- Option to avail of Enhanced Insurance Cover
- Option to enhance your risk cover with appropriate rider options
Plan at a glance:
|Life Insured Entry Age (age last birthday)||Minimum : 18 years
Maximum :65 years;(50 years if Enhanced Insurance cover is chosen)
|Maximum Maturity Age (age last birthday)||75 years|
|Plan Options||Education Milestone Benefit,
Marriage Milestone Benefit,
Education and Marriage Milestone Benefitx
|Policy Term (PT)||Education Milestone Benefit: 10 to 29 years
Marriage Milestone Benefit: 8 to 32 years
Education and Marriage Milestone Benefit: 11 to 32
|Premium Paying Term (PPT)||Minimum:
Education Milestone Benefit/Marriage Milestone Benefit: 5 years
Education and Marriage Milestone Benefit: 6 years
Maximum: 12 years
|Minimum Annualized Premium||Rs. 30,000|
|Minimum Sum Assured||Rs. 4,00,000|
|Maximum Sum Assured||No Limit (subject to Board Approved Underwriting Policy)|
|Enhanced insurance Cover (Optional)||50%, 100% or 200% of Sum Assured|
|Payment Mode||Annual, Semi Annual, Quarterly and Monthly Modal Loading will be applicable as below:
ABSLI Child’s future assured plan offers assured benefits to fund your child’s education, marriage, or both future milestones. Simply choose one of the following options at policy inception to receive the assured benefits:
Education Milestone Benefit
Get assured annual pay-outs amounting to a fixed percentage of your sum assured with this policy. You can choose the tenures of payouts to coincide with your Child's education milestones such as High School, Graduation, and Post-Graduation. The Education Milestone Benefit as a percentage of the sum assured is payable as per the table below:
|Education Milestone Benefit payable at the end of each year|
Marriage Milestone Benefit
Receive a guaranteed lump sum pay-out for your child’s wedding at the end of the policy term. Your child should be between 24 and 32 years of age to get the policy benefit.
Education and Marriage Milestone Benefit
ABSLI Child’s Future Assured Plan offers a combined Education and Marriage Milestone Benefit. The Education Milestone Benefit is paid as defined above on the respective due dates, while the Marriage Milestone Benefit is paid when the policy term ends.
In case of the life insured’s unfortunate demise during the policy period, the death benefit will be paid to the nominee in either of the following ways:
- Assured benefits chosen by you shall be paid on their respective due dates; plus
- Any excess amount of Sum Assured on Death over the discounted value of the payable assured benefits will be paid immediately as lump-sum
- All future premiums shall be waived off.
- Nominee has an option to opt immediate lump sum payment. In that case higher of Sum Assured on Death or discounted value of all the future Assured Benefits, will be paid immediately and the policy will be terminated.
If you pay all your due premiums, a 20% loyalty addition is added to your assured benefits at the end of each scheduled pay-out.
The Maturity Benefit shall be the amount of Assured Benefit payable at the end of the Policy Term.
ENHANCED INSURANCE COVER
At the start of the policy, you can also opt for Enhanced Insurance Cover equal to 50% or 100% or 200% of the sum assured, by paying an additional premium.
You can enhance your insurance cover during the policy term by adding the following riders at a nominal extra cost:
- ABSLI Accidental Death and Disability Rider (UIN: 109B018V03)
- ABSLI Critical Illness Rider (UIN: 109B019V03)
- ABSLI Surgical Care Rider (UIN: 109B015V03)
- ABSLI Hospital Care Rider (UIN: 109B016V03)
- ABSLI Waiver of Premium (UIN:109B017V03)
- ABSLI Accidental Death Benefit Rider Plus (UIN:109B023V02)
Please note that you can opt for either ABSLI Accidental Death and Disability Rider or ABSLI Accidental Death Benefit Rider Plus, but not both. There are exclusions attached to the riders. Please refer rider brochure for more details.
The Trade Logo “Aditya Birla Capital” Displayed Above Is Owned By ADITYA BIRLA MANAGEMENT CORPORATION PRIVATE LIMITED (Trademark Owner) And Used By ADITYA BIRLA SUN LIFE INSURANCE COMPANY LIMITED (ABSLI) under the License.
This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). A non-linked non-participating individual life insurance savings plan. All terms & conditions are guaranteed throughout the policy term. GST and any other applicable taxes will be added (extra) to your premium and levied as per extant tax laws. An extra premium may be charged as per our then existing underwriting guidelines for substandard lives, smokers or people having hazardous occupations etc.
The insurance cover for the life insured (including minors) will commence on the policy issue date. For further details, please refer to the policy contract. Tax benefits are subject to changes in the tax laws. For more details and clarification call your ABSLI Insurance Advisor or visit our website and see how we can help in making your dreams come true. UIN: 109N124V01 ADV/7/21-22/626
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding the sale. For further details, please refer to the policy contract. Tax benefits are subject to changes in the tax laws. For more details and clarification, call your ABSLI Insurance Advisor or visit our website and see how we can help in making your dreams come true.
Aditya Birla Sun Life Insurance Company Limited.
Birla Sun Life Insurance Company Limited, One Indiabulls Centre, Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400 013.
Call Centre: 1-800-270-7000
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