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Aditya Birla Sun Life Insurance Company Limited

What is Savings with Protection Plan?

Endowment policy or Savings with Protection Plan is a long term financial protection that one would need. Unlike Term Insurance, endowment plans are for a limited period & are one of the best ways to get the benefits of life insurance as well as wealth accumulation through years of regular investing.

Why do you need Savings with Protection Plan?

Endowment policy provides a dual benefit i.e. Savings plus Protection. It is one of the wisest ways to secure your earnings for future. These plans may have lesser returns but are considered to be risk-free when it comes to sum assured. Tax benefits are an added bonus to the plan.

In case of any mishap, if the policyholder dies the dependants or the family members get the added benefit of risk coverage. Apart from providing a life cover during any mishaps, at maturity the entire sum assured is paid to the policy holder if she/he survives.

Savings with Protection Plans By ABSLI

ABSLI SecurePlus Plan

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ABSLI Guaranteed Milestone Plan

Nothing is more important that your family's happiness. You work hard to earn and strive to fulfill everything your loved ones wish for. In today's unpredictable times, having your family's future... KNOW MORE

ABSLI Assured FlexiSavings Plan

Introducing ABSLI Assured FlexiSavings Plan - the new age way of saving your money. This plan offers you guaranteed returns to achieve your financial goals and the flexibility to access that corpus... KNOW MORE

ABSLI Vision MoneyBack Plus Plan

Fulfill the dreams and aspirations of your family with the Vision MoneyBack Plus Plan by Aditya Birla Sun Life Insurance. It is a traditional participating plan, which provides you with regular... KNOW MORE

ABSLI Vision LifeIncome Plan

In today's world, we try to plan for all of life's important stages and milestones keeping in mind our growing responsibilities. And, to supplement these efforts, we sometimes wish... KNOW MORE

ABSLI Savings Plan

From the assurance of providing quality education to taking your loved ones for a vacation. You work hard to fulfill every commitment towards your loved ones. To fulfill every goal and... KNOW MORE

ABSLI Vision LifeSecure Plan

Today you are young and you don't have as many responsibilities. Even then you don't know where the money goes as your desires are increasing and you want to lead a good lifestyle... KNOW MORE

ABSLI Income Assured Plan

You diligently chalk out plans and work hard in life to give your near and dear one's a financially secure future. But, uncertainties can always put you on the back foot. To fulfill the rising needs... KNOW MORE

ABSLI Vision Endowment Plus Plan

In life, when we face so much uncertainty around us, there's nothing more reassuring than knowing that not only is your money safe, but also that you will receive more than what you have... KNOW MORE

ABSLI - Jeevan Bachat Plan

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ABSLI Monthly Income Plan

Retirement is certain in everyone's life and hence having funds for the same is a must. The rising cost of living, changing times and needs etc. in such scenario investment towards retirement corpus is a necessity... KNOW MORE

  • Maturity benefit:

    Upon the maturity of the policy/plan, the policy holder receives the sum assured plus bonus. The amount received at maturity is tax free.

  • Offers long term savings:

    Endowment insurance is relatively safer as compared to any other investment plans. Once can choose a policy term of10, 15, 20, 30 years and so on.

  • Additional bonuses:

    The insurer gives out additional bonus to the insured in an instance of any profits gained during the policy term. The bonuses can be classified as:
    1. Reversionary bonus:

      This is the additional money that is added to the sum assured on maturity or death with profit policy. Once a revisionary bonus is announced, it cannot be withdrawn even if the policy matures or when the insured has an accidental death.

    2. Terminal bonus:

      You receive tax exemption on both premium payments, maturity and final payouts under the Section 80C and Section 10(10D) of the Income Tax Act, 1961. This benefit makes it easier to save more money and receive the same sum assured as promised by the insurer.

How does saving with protection plan work?

Endowment plans provide insurance protection just as the term insurance plans. However, these plans play dual role as they provide life cover as well as help you save on a regular basis. When the policy matures, the sum assured is given as a lumpsum amount to the insured if he/she survives the policy term. If the insured has an accidental death or total permanent disability then the sum assured is paid to the beneficiary or the policyholder respectively. The amount received can be utilized for any purposes later. Therefore, savings with protection plan enables one to secure their long term goals and provides a financial aid in an hour of need.

It might be tough to choose an endowment insurance policy since there are more than hundred similar options. However, when you narrow down upon one final plan you must consider the following factors to gain maximum returns:

  • Guaranteed and non-guaranteed returns:

    Most of the endowment plans in India offer a dual benefit of saving feature and death cover along with a combination of guaranteed or non-guaranteed returns. The non-guaranteed returns include bonuses that depend on the investment performance. The guaranteed returns remain fixed and are payable only at the time of maturity or death.

  • Bonuses:

    Most of the insurance companies declare bonuses depending on their performance. When the company incurs profits from its investments, they can distribute a part of it to its policyholder at the end of each financial year. The profit that is incurred depends on the current valuation of the company's assets and liabilities.

  • Begin planning early:

    When you start investing in endowment insurance policy early, you gain more time and secure your future at an early age. This ensures disciplined saving and offers a broad spectrum to grow your investments.

  • Review flexibility option:

    Insurance companies offer various types of endowment plans with a flexible option of premium payments. If you are a salaried person then you can choose regular endowment policy but if you have irregular income then you can choose the single payment option or limited premium payment option.

An endowment policy redeems you financially & can also be used to clear any debts. It is best to have some knowledge about the plan you choose to buy as it will not only help you enjoy all the benefits but also invest judiciously.

  • Higher returns:

    Endowment insurance offers a better and long lasting financial security to your family. The death benefit and survival benefit are much higher and yield more pros as compared to the pure Term Life Insurance.

  • Flexibility in cover:

    The insured can add various riders like accidental benefits, critical illness and permanent disability to the base plan to enhance his /her life cover. An additional advantage that most of the insuring companies offer is waiver of the premium in case of death or total permanent disability.

  • Tax benefits:

    The insured gets a tax exemption on premium payouts under section 80C as well as maturity or death payouts under section 10(10D). This allows the insured to get maximum benefits and thus providing a secure way of financing oneself and the beneficiary.

  • Survival benefits:

    If the policy holder outlives the policy then he/she is bound to get the sum assured along with bonuses. This ensures that the insured enjoys all the benefits of the policy.

  • Death benefits:

    The beneficiary/nominee gets the sum assured along with the added bonuses (if any) in case of the policyholder's death. Thus, this makes the nominee financially independent.

Toll free (Within India):

1800 270 7000

Outside India: :

+91 22 66917777

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Types of Life Insurance Plans


Health Plans


Saving with Protection

Why choose ABSLI?

Claim Settlement Ratio

It is often said that higher the claim settlement ratio, better it is. ABSLI has an astounding claim settlement ratio of 97.54%.

Strong legacy

Aditya Birla Capital is one of the most trusted brands & its joint venture with Sun Life Insurance has gained accolades in the industry with the name Aditya Birla Sun Life Insurance.

Simple & need based products

ABSLI aims to make savings and living easier for each individual. So, each product has been made in accordance with the basic and simple needs of every customer.

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Frequently Asked Questions


There is no such plan which is safer than the others. However, the returns and sum assured in case of endowment plans are higher.


No, the returns on endowment policy are not taxable under section 10(10D). This ensures maximum returns at lower risks.


Yes, the policy offers tax benefits. The final sum assured at maturity is tax-free even if you are a high tax-payer.