Save for a secured future along with life cover

What is Savings Plan?

Savings Plan or Endowment Plan is a life insurance plan providing dual benefits of savings and protection in a single plan. The plan helps you to save for various life goals. You get to build a corpus in a disciplined and sustained manner over several years. At the same time, it provides financial protection for family in case of an unfortunate event.

Why do you need Savings Plan?

Securing the future of your loved ones is easy when you have an endowment or moneyback plan. The annual premium on a savings plan has two functions: One part of the premium is used to build a savings corpus for the future life goals. The other part goes towards the life cover. In case of the death of the life insured within the policy term, the nominee receives the payout in the form of sum assured. This can help the family to maintain their standard of living and take care of daily needs. Also, upon life insured’s survival of the policy term, the entire sum assured is paid along with accumulated bonuses, if any at maturity

  • Financial security for your family
  • Sum assured and bonuses2, if any paid out at maturity
  • Benefit of guaranteed savings
  • Provides tax benefits1

Savings Products

ABSLI Assured Income Plus

Invest for a short term, get guaranteed returns for a long term. UIN 109N127V03

  • Guaranteed3 returns on your investment
  • Long term regular income
  • Tax Benefits1

ABSLI Savings Plan

Get life cover and build a substantial corpus to ensure a secure financial future for your loved ones. UIN: 109N088V02

  • Additional Sum Assured on accidental death
  • Bonuses2 to boost your savings
  • Guaranteed3 Additions

ABSLI Vision LifeIncome Plan

Get life cover till the age of 100 as well as an assured income to achieve your financial goals UIN: 109N079V05

  • Get flexibility to receive payouts
  • Life cover till age 100 years
  • Minimum entry age is 30 days

ABSLI Guaranteed Milestone Plan

Guarantee your family’s happiness with life insurance and a savings corpus that fulfils their needs. UIN: 109N106V08

  • Fully guaranteed benefits3
  • Guaranteed3 Additions to boost your corpus
  • Sum Assured of 15 times the annual premium

ABSLI SecurePlus Plan

Secure your finances with life insurance cover and the advantage of a second income stream UIN:109N102V03

  • Flexibility in selecting annual premium
  • Flexibility to choose the Income Benefits
  • Inbuilt Accidental Death Benefit

ABSLI Vision MoneyBack Plus Plan

Pay-outs at regular intervals, coupled with life protection, help you to achieve your life goals. UIN: 109N093V04

  • Financial protection of your family
  • Regular payouts
  • Tax Benefits1

ABSLI Vision LifeSecure Plan

Ensure long-term financial security for your family with this savings-focused life insurance plan.

  • Life Cover till age 100 years
  • Maturity benefit at the end of policy term
  • Regular bonuses2

ABSLI Monthly Income Plan

Enjoy the twin benefits of adequate life cover and a tax-free monthly income till maturity. UIN: 109N122V02

  • Bonuses2 to augment your savings
  • Choice of Level and Increasing Income Benefit Options
  • Monthly income benefit

ABSLI Income Assured Plan

This plan offers life insurance cover and an assured monthly income for you and your family. UIN: 109N089V06

  • Assured monthly income
  • Life cover
  • Tax Benefit1

ABSLI Vision Endowment Plus Plan

This plan pays out regular bonuses and offers return of premium at maturity. UIN: 109N092V04

  • Accrued regular bonuses2
  • Choice of 2 death benefit options
  • Minimum entry age is 30 days

ABSLI Jeevan Bachat Plan

Get triple advantage of life cover, guaranteed returns and tax benefits. UIN: 109N107V03

  • Guaranteed3 benefits on death or maturity
  • Inbuilt accidental death benefit
  • No medical tests

ABSLI Assured FlexiSavings Plan

Unlock the flexibility to withdraw and lock in guaranteed returns along with a life cover. UIN 109N126V02

  • Guaranteed3 returns on your investment
  • Flexibility of unlimited withdrawals
  • Tax Benefits1

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Benefits of Savings Plan

Death and survival benefits

Death within the policy term ensures a pay-out for the life insured’s family. If the life insured survives the term, they receive the \sum assured along with any accumulated bonuses.

Gain from regular bonuses

The insurer may share a part of its profit with you in the form of bonuses. Reversionary and terminal bonuses boost your final pay-out

Suitable for Long-term savings

An endowment policy or moneyback policy can help you build savings for the long run.

Tax Benefits

Enjoy tax exemption of premiums paid, maturity and final pay-out under section 80C and 10(10D) of the Income Tax Act, 19611

Wealth Calculator

Know the amount you need to invest today to fulfil your life goals

Things to Consider Before Buying an Endowment Plan

  • Get an early start

    The earlier you buy an endowment or money-back plan, the better it is for you. Such plans encourage disciplined savings over the long term. This gives your money more time to grow into a large corpus and you have life cover for a longer period.

  • Seek flexibility in premium payments

    Endowment plans often come with flexible payment options. Annual premium payments work perfectly well for salaried individuals. However, those with irregular earnings could benefit from a single-premium or limited-premium payment option.

  • Review the returns on offer

    Check the nature of returns from your endowment or money-back plan. Some plans offer guaranteed returns which are payable on death or maturity. Non-guaranteed returns include bonuses which are variable and depend on the performance of the investment.

  • Assess the potential for bonuses

    Inquire about the amount of bonus you could get from your savings plan. Note that insurers declare bonuses based on their performance. When profits are made, the insurer distributes a part of it through bonuses.

Riders

  • ABSLI Accidental Death Benefit Rider Plus (UIN: 109A024V01)

    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: 109A039V01)

    All future premiums waived in case of permanent disability due to illness or accident, any of the specified critical illnesses or death.

Frequently Asked Questions

  • What is the right time to buy an endowment or moneyback plan?

    There’s no fixed time to buy an endowment or moneyback plan. However, the sooner you buy, the better it is as it gives more time to your money to grow and helps you build a bigger corpus, enabling disciplined savings in the process.

  • Can I buy endowment or moneyback policy for my child?

    Yes, you can. In this case, you can buy the policy to fund the future education expenses of your child & plan a grand wedding for him/her. Also, your child (once major) would receive the pay-out in case of your death during the policy term.

  • Can I surrender my endowment or moneyback plan before completion of the policy term?

    Yes, you can. However, for your policy to acquire a surrender value, you need to have paid premiums of at least two years.

  • How to buy endowment or moneyback policy online?

    To buy endowment or moneyback policy online, visit the website of your insurer, fill up the proposal form with all relevant details along with the required documents and pay online. The soft copy of the policy will be sent to your registered email id.

  • Are there any tax benefits on endowment or moneyback plans?

    Yes, there are tax benefits on endowment or moneyback plans. The premiums paid qualify for tax exemption under section 80C, while the maturity or death benefit pay-out qualify for tax exemption under section 10(10D) subject to changes in the tax laws.

  • Which is the best endowment or moneyback plan that I can buy?

    The best endowment or moneyback policy is one which helps you save in a disciplined manner to accumulate a corpus for essential life goals, along with providing an adequate financial cushion to your dependents in your absence. It should be flexible in terms of premium payment and pay-outs along with guaranteed additions. Explore our endowment or moneyback policies

  • How does an endowment or moneyback plan work?

    Working of an endowment or moneyback plan is simple. A part of the premium paid goes towards paying life cover while the other half is invested in safe avenues to generate returns.

  • Is endowment or moneyback plan a good investment?

    Definitely it is. It not only helps you to save in a disciplined manner for important life goals but also gives your family a financial protection in your absence.

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1Tax benefits are subject to changes in tax laws. Please consult your tax advisor for the same
2For more details please refer to the sales brochure.  Some benefits are guaranteed and some benefits are variable with bonuses based on the future performance of the participating business and economic conditions.
3Provided all premiums are paid. For more details please refer to the sales brochure

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.

Aditya Birla Sun Life Insurance Company Limited Registered Office: One World Center Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013. IRDAI Reg No. 109 www.adityabirlasunlifeinsurance.com CIN: U99999MH2000PLC128110 Toll free no. 1800-270-7000

ADV/9/20-21/1067

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.