Insure and give wings to your child’s dreams!

Child Insurance Plans


As a parent, you want to provide the best of everything to your child. Isn’t it? Child Insurance Plans help you in your endeavour and help secure their future by  giving wings to their dreams.

Providing triple benefits of insurance, saving and investment,child plan ensures that money is not a hurdle when you are on your journey to fulfilling important milestones for your child, right from education to higher studies to marriage. Be a part of your child’s success with our child plans.

Why do you need a Child Insurance plan?


Child insurance plans are aimed to secure the financial future of your child in your absence and ensure all his/her needs are well taken care of in case of an unfortunate event. They give you peace of mind and help you build a sizeable corpus for crucial future needs of your child, including education and marriage, among others.

  • Financially secures your child even in your absence
  • Builds corpus for child’s education
  • Financial aid for child’s marriage
  • Tax benefits1

Child Plans

ABSLI Child’s Future Assured Plan

This plan offers assured benefits to take care of the important milestones in your child’s life- Education and Marriage UIN: 109N124V01

  • Guaranteed2 returns on death/maturity
  • Flexibility to save for child’s life goals
  • Option to avail of Enhanced Insurance Cover

ABSLI Vision Star Plan

This plan helps you nurture and fulfil every dream of your child. UIN: 109N096V03

  • Flexibility to choose sum assured
  • Accrued bonuses3 to augment your savings
  • Waiver of premium benefit

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Benefits of Child Insurance Plan

Aids in saving for your child’s future needs

What if your child wants to start his own venture and needs money for the same? Entrepreneurship requires initial capital, possible only through disciplined and sustained savings. With our child plan,  you can save for these future needs of your loved one.

Gives peace of mind

In case of the unfortunate death of the life insured (parent) , the waiver of premium benefit in child plan ensures all the future premiums are waived off and the policy continues to be in force till maturity giving all the mentioned benefits.

Helps build a corpus for your child’s higher education

Did you know that even by conservative estimates of annual education inflation by 6%, an MBA course costing Rs. 10 lakhs today would cost around Rs. 34 lakhs after 21 years. The amount will easily run into crores for the same course abroad. Child plans helps you build a sizeable corpus for your child’s higher education.

Provides financial aid for your child’s marriage

Why should funds be a scarcity in making your child’s special day truly memorable? Provide financial assistance to your child in making their dream a reality with our child plans.

Provides tax benefits1

Premiums paid up to Rs. 1.5 lakhs qualify for tax deduction under section 80C of the Income Tax Act, 1961. The maturity pay-out at the end of the policy term or on death is exempt from tax under section 10(10D).

Child Future Planning Calculator

Know the amount you need to save today to fulfil your child’s dreams

Tips for Buying Child Insurance Plan

  • Start early

    Buying a child plan early has its perks. Not only it secures your child’s future but pay-outs at key milestones of your child’s life ensure that their needs are well taken care of. As the plan has a savings component, an early start gives more time to your money to grow, bringing in the power of compounding in the long run.

  • Choose an adequate sum assured

    Note that education inflation is very different from retail, and is growing at an alarming rate. What may seem adequate today can very well fall short tomorrow. With higher education costs expected to jump up by several notches, opt for a sum assured that ensures all future needs of your child, particularly related to higher education are met with ease.

  • Waiver of premium benefit

    Are you worried about premium payment in case of an untoward incident? Relax! Most child plans, including ours, offer inbuilt waiver of premium benefit wherein in case of the death of the parent, all future premiums are waived off. However, the policy continues with all the said benefits thus ensuring your child’s future needs are taken care of no matter what.

  • Read the fine print and understand the T&Cs

    Go through the fine print to get a better understanding of the child insuranceplan. Make sure you pay attention to every minute detail including the inclusions, exclusions and other clauses to make an informed choice.

Riders

  • ABSLI Accidental Death Benefit Rider Plus (UIN: 109B023V02)

    Get additional protection for accident leading to death at a nominal cost.

  • ABSLI Accidental Death and Disability Rider (UIN: 109B018V03)

    Get additional protection for accident leading to death or disability at a nominal cost.

  • ABSLI Critical Illness Rider (UIN: 109B019VO3)

    Get benefit amount as a lumpsum upon diagnosis of any of the 4 specified critical illnesses.

  • ABSLI Hospital Care Rider (UIN: 109B016V03)

    Get daily cash benefit, additional ICU benefit and lumpsum recuperating benefit upon hospitalization

  • ABSLI Surgical Care Rider (UIN: 109B015V03)

    Get lump sum benefit amount to cover surgical expenses

  • ABSLI Waiver of Premium Rider (UIN: 109B017V02)

    All future premiums waived in case of permanent disability, death or 4 specified major illness

Frequently Asked Questions

  • Is it compulsory to buy child insurance plans?

    It’s certainly advisable but not compulsory. However, to ensure your child’s future requirements and dreams aren’t compromised due to lack of funds or in your absence, it’s advisable to invest in child plans.

  • What is the right time to buy a child investment plan?

    The moment your child is born. Buying early not only secures your child’s future but also gives more time to your money invested to grow. This helps in building a bigger corpus and ensures you have adequate funds needed at key milestones of your child’s life.

  • Does a child insurance plan provide any tax benefits?

    Yes, it does. Premiums paid towards a child insurance plan qualify for tax benefits1 under section 80C of the Income Tax Act, 1961. Also, the pay-out at maturity is tax exempt under section 10(10D).

    1Tax benefits are subject to changes in tax laws. Please consult your tax advisor for the same.

  • How is the premium computed?

    Premiums depend on many factors including sum assured, premium paying term,  riders opted for and any other additional features availed. Today insurers offer online calculators which help in gauging premiums.

  • Should I buy this plan online or offline?

    You can buy a child insurance plan online as well as offline. It is a smart decision to buy online as it not only saves time but also money as it is cost effective.

  • How to choose the right child insurance plan?

    Adequate sum assured, waiver of premium benefit and pay-out structure are some important considerations which you must take into account before opting for a child insurance plan.

  • What is the uniqueness of waiver of premium feature?

    The insurer waives off all the future premiums in case of the life insured’s death during the policy term while policy benefits continue till maturity. This makes sure that the maturity benefit that was set for a certain age remains intact as planned. This waiver of premium rider must be chosen if not an inbuilt feature.

  • Will the policy terminate once it pays the death benefit?

    No, it won’t. After the death benefit is paid, the policy continues till maturity and the matured amount is paid at the end of the policy term.

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1Tax benefits are subject to changes in tax laws. You are advised to consult your tax advisor for the same.
2Provided all premiums are paid
3Some benefits are guaranteed and some benefits are variable with bonuses based on the future performance of the participating business and economic conditions

Disclaimer

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. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding the sale. 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. Aditya Birla Sun Life Insurance Company Limited Registered Office: One Indiabulls Centre Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013.Toll free no: 1800-270-7000 IRDAI Reg No. 109 www.adityabirlasunlifeinsurance.com CIN: U99999MH2000PLC128110 VER2/FEB/2020

ADV/9/20-21/1051

Need help with life insurance?

+91
I agree to the Terms of Usage and Privacy Policy and authorize Aditya Birla Sun Life Insurance Company Limited and its associates to call/SMS/Email/WhatsApp me.

Thank you for your details. We will reach out to you shortly.

1800-270-7000 or reach out to us on this number.

Thank you for your details. Currently we are facing issue in our system.

1800-270-7000 or reach out to us on this number.