ABSLI Life Shield Plan

ABSLI Child Future Assured Plan

PROTECTING your child's key milestones with assured benefits and flexibility
PROTECTING your child's key milestones with assured benefits and flexibility
Unlimited Earning Potential Flexibility to save for Child’s major milestones
Enhanced Insurance Cover Option
Flexibility to choose from various pay terms & policy terms
Rider Options to Enhance Your Risk Cover

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

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

Give ₹1 lakh/year for 10 years
Get ₹ 21.58 lakhs total benefit¹.
Please enter a valid First Name.
+91 phone
Please enter a valid 10 digit Mobile No.
*This field is required.

Why buy ABSLI Child’s Future Assured Plan?

ABSLI 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. This plan ensures the key milestones of your child’s future are secured with a guarantee even in your absence.

Key Features:
  • iconbullet Flexibility to save for Child Education, Marriage or for both the life goals
  • iconbullet Flexibility to choose from various Pay term and Policy Terms
  • iconbullet Option to avail of Enhanced Insurance Cover
  • iconbullet Option to enhance your risk cover with appropriate rider option

Benefits of ABSLI Child’s Future Assured Plan

ABSLI Child’s Future Assured Plan ensures that your aspirations for your child are never compromised

Assured Benefit
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

Benefit year
1st 2nd
3rd
4th 5th 6th 7th 8th 9th
3 years 30% 30% 40%            
6 years 15% 15% 15% 15% 25% 25%      
9 years 10% 10% 10% 10% 10% 15% 15% 20% 20%

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.

Death Benefit
Death Benefit
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.
  • 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.
Loyalty Additions
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.
Maturity Benefit
Maturity Benefit
The Maturity Benefit shall be the amount of Assured Benefit payable at the end of the Policy Term.
Enhanced Insurance Cover
At inception you can also opt for Enhanced Insurance Cover equal to 50% or 100% or 200% of the sum assured, by paying an additional premium. If the Enhanced Insurance Cover is opted, additional Sum Assured as chosen at inception will be paid immediately to the nominee in case of death of life insured during the policy term. The Nominee will have the option to choose one of the following

ABSLI Child Future Assured Plan With Riders

  • Entry Age (age last birthday)

    18–65 years (50 years if Enhanced Insurance cover is chosen)

  • Maximum Maturity Age

    75 years

  • Plan options
    • Education Milestone Benefit
    • Marriage Milestone Benefit
    • Education and Marriage Milestone Benefit
  • 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
  • Minimum Sum Assured

    Rs. 4,00,000

  • Maximum Sum Assured

    No Limit (subject to Board Approved Underwriting Policy)

  • Minimum Annualized Premium

    Rs. 30,000 p.a.

  • Payment Mode

    Annual, Semi Annual, Quarterly and Monthly Modal Loading will be applicable as below:

    • Annual - 0.0%
    • Semi-annual - 1.0%
    • Quarterly - 1.5%
    • Monthly - 4.0%
  • Enhanced insurance Cover (Optional)

    50%, 100% or 200% of Sum Assured

  • Premium Paying Term

    Minimum:

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

    Maximum: 12 years

Buy ABSLI Assured Savings Plan Online

Secure your Child`s Key Milestones

Invest in ABSLI Child’s Future Assured Plan
Buy Online

Suicide Exclusion

We will pay the total premiums paid till date or surrender value available on the date of death, whichever is higher, in the event the life insured dies due to suicide, within 12 months from the date of commencement of risk under the policy or from the date of revival of the policy, as may be applicable provided the policy is in force

How to initiate Claim?

3 quick steps, everything online.

  • Fill basic details
  • Claim intimation
  • Document submission

Faqs

The sooner you start saving in a child future assured plan, the better it is. This gives the money invested more time to grow. An early start ensures that your child has adequate funds for their educational needs and/or for their wedding, when the time comes.
There are three main aspects to consider when buying a child savings plan like this one:
  • Life Insurance Cover: The amount should provide for your family’s daily needs in your absence.
  • Education Milestone Benefit: Factor in the current costs of schooling and higher education. Consider the impact of inflation to ensure that you save enough. Also think about when the pay-outs would be required.
  • Marriage Milestone Benefit: The child insurance plan pays this benefit at the end of the policy term. So you would need to choose a policy term accordingly.
Yes, you can. But the minimum policy terms are eight years when you choose the Marriage Milestone Benefit, 10 years for the Education Milestone Benefit, and 11 years for the Education and Marriage Milestone Benefit. So, consider the timelines before you finalize the policy terms.
While you cannot withdraw money from the plan corpus, your nominee will receive the assured benefits as per the schedule:
  • Education Milestone Benefit: You can time the policy pay-outs based on the child’s educational needs. For instance, you could fix a pay-out date around the time your child is likely to start college.
  • Marriage Milestone Benefit: This benefit is payable at the end of the policy term.
  • Death Benefit: If the policyholder passes away during the policy term, the child receives the sum assured.
The life insurance coverage should take care of your family’s regular expenses, including the costs of education and/or marriage for your child. Your loved ones should not have to compromise on their lifestyle in your absence.
The premium paid annually will provide you tax benefits² under Section 80C of the Income Tax Act, 1961. Any income received from the plan is eligible for tax benefits1 under Section 10 (10D) upon fulfilling conditions/ requirements of the section.
SHOW ALL
HIDE

Other Insurance Plans

ABSLI Fixed Maturity Plan
ABSLI Fixed Maturity Plan
ABSLI Fixed Maturity Plan is a life insurance savings plan which gives you a financial guarantee to fulfil your dreams while providing you with a life cover which safeguards your family in case of an eventuality.
iconbullet Guaranteed Returns
iconbullet Loan against policy for emergency situation
iconbullet Flexibility of Investment Amount and Policy Term
ABSLI Assured Income Plus
ABSLI Assured Income Plus
Aditya Birla Sun Life Insurance Assured Income Plus provides the benefit of life insurance cover during the Policy Term and guaranteed income for 20, 25 or 30 years to ensure fulfilment of your family’s long term goals and aspirations.
iconbullet Long term regular income for 20, 25 or 30 years
iconbullet Fully Guaranteed Returns on your investment
iconbullet Loyalty Additions
ABSLI Vision LifeIncome Plan
ABSLI Vision LifeIncome Plan
ABSLI Vision LifeIncome Plan is a traditional participating whole life insurance plan which offers a perfect blend of regular income and financial protection for your family in your absence.
iconbullet Whole life cover up to age 100
iconbullet Short premium paying term available
iconbullet Income for whole life
ABSLI Vision LifeIncome Plus Plan
ABSLI Vision LifeIncome Plus Plan
Aditya Birla Sun Life Insurance Vision LifeIncome Plus Plan provides the benefit of a comprehensive life insurance cover for a lifetime, up to a maximum of age 100 along with a guaranteed regular income.
iconbullet Life cover up to a maximum of age 100
iconbullet Option to enhance your insurance cover through riders
iconbullet Option to get cash-in-hand even while paying premiums
ABSLI SecurePlus Plan
ABSLI SecurePlus Plan
In today’s times of financial instability, there is a risk of your income not keeping pace with your needs and goals. Aditya Birla Sun Life Insurance SecurePlus Plan recognises such needs and provides you with a second income which secures your financial future.
iconbullet Commutation Option
iconbullet Loyalty Additions
iconbullet Customizable Benefits
ABSLI Assured FlexiSavings Plan
ABSLI Assured FlexiSavings Plan
ABSLI Assured FlexiSavings Plan offers guaranteed returns to help achieve your financial goals and the flexibility to access your corpus through unlimited withdrawals.
iconbullet Income Booster of 5% of the accrued amount each year
iconbullet Loyalty additions
iconbullet Enjoy a 10% additional benefit on total premiums paid
ABSLI Jeevan Bachat Plan
ABSLI Jeevan Bachat Plan
Aditya Birla Sun Life Insurance Jeevan Bachat Plan boosts your savings by offering guaranteed returns and life cover 10 times of your annualized premium along with tax benefits.
iconbullet Inbuilt accidental death benefit
iconbullet No medical tests required
iconbullet Easy and convenient to buy
ABSLI Vision Endowment Plus Plan
ABSLI Vision Endowment Plus Plan
ABSLI Vision Endowment Plus Plan offers secured savings and provides your family with comprehensive financial protection for longer durations.
iconbullet Comprehensive financial protection of your family
iconbullet Accrued regular bonuses to augment your savings
  • Disclaimer

    ¹ ABSLI Child’s Future Assured Plan. Plan option: Education & Marriage Milestone. Male | Age: 35 years | Policy term: 25 years | Premium paying term: 10 years | Education milestone benefit period: 3 yrs & Education assured benefit start term: 15 yrs | Marriage assured benefit start term: 25 years | Annualized premium: ₹1,00,000 (excluding tax) | Total Benefits Payout: Rs 21,58,664 [Education Milestone Payout: Rs 10,79,332 (policy year 15,16,17) and Marriage Milestone Payout: Rs 10,79,332 (policy year 25)] | Age of Child: 0 years, Child as a nominee | Sum assured multiple for marriage: 100%
    ²Tax benefits are subject to changes in tax laws. Kindly consult your financial advisor for more details.
    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/1/23-24/3166