Investment Plans 507 views August 23, 2021

ABSLI Child’s Future Assured Plan helps your children complete their key milestones – education and marriage. With this plan, you can also protect your family’s finances in case of your demise during the policy term.


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Before we move to the next section, let’s check out the key features of the plan mentioned below.

  • Comprehensive Financial Protection
  • Option to Save for Children’s Education, Marriage or Both
  • Multiple Policy and Premium Payment Term Options
  • Availability of Multiple Sum Assured Options
  • Loan Against Policy up to 85% of its Surrender Value
  • Enhance Your Risk Cover with Riders
  • Multiple Premium Payment Modes
  • High Sum Assured Rebate
  • A 15 or 30-day Free Look Period
  • Tax Benefits
  • A Grace Period of 15 or 30 Days

Continue reading this page to get detailed information about the features of the ABSLI Child’s Future Assured Plan. Let’s start right away.

Let’s Understand the Features and Benefit of the ABSLI Child’s Future Assured Plan in Detail

It is a non-linked, non-participating individual life insurance savings plan. We have discussed its features and benefits in detail below.

Availability of Multiple Sum Assured Options

The minimum sum assured option stands at INR 4,00,000, and there is no maximum limit on the same. Also, policyholders will get a premium rebate on choosing the higher sum assured. The rate will be according to the below table.

Sum Assured BandSum Assured (In INR)Premium Rebate per INR 1,000 of Sum Assured
Band 14,00,000 - 7,99,999Nil
Band 28,00,000 - 11,99,9991.5
Band 3Above 12,00,0002.5

What is the Policy and Premium Payment Term?

The policy and premium payment term depends on the chosen plan options. To know more, check the below table.

Benefit OptionsPolicy Term (In YearsMinimum Premium Payment Term (In YearsMaximum Premium Payment Term (In Years)
Education Milestone10 to 29512
Marriage Milestone8 to 32512
Education and Marriage Milestones11 to 32612

What is the Minimum Annualized Premium?

The minimum annualized premium stands at INR 30,000 under the Future Assured Plan.

Multiple Premium Payment Modes

ABSLI Child’s Future Assured Plan offers multiple premium payment modes – Annual, Semi-annual, Quarterly and Monthly. The modal loading for these options will be as per the below table.

Premium Payment ModeModal Loading Factor

Assured Benefits

ABSLI Child’s Future Assured Plan allows policyholders to choose the desired assured benefit option at inception. The first two options are Education Milestone and Marriage Milestone Benefit. Under the third option, you can pick both of them. We have talked about them in detail below. Please check.

Education Milestone Benefit

Under this benefit option, you can plan your savings to get guaranteed annual assured benefits. It will help you fulfill the education needs of your children. The plan provides assured benefit at the end of the 3rd, 6th or 9th year (as chosen by you). This benefit will be a certain percentage of the sum assured. To know more, check the below table.

Benefit Year3 years6 years9 years

Marriage Milestone Benefit

This plan from Aditya Birla Sun Life Insurance also helps you save for your child’s marriage. You can choose the policy term in such a way that it matures when your child is between 24 to 32 years. Under this option, you will get a guaranteed lump sum payout at the end of the chosen policy term.

Education and Marriage Milestone Benefits

Under this, you will get both benefits mentioned above. The date of payout for the marriage milestone should be on or after the last installment of the education milestone benefit. Also, policyholders can choose to get 100% or 150% or 200% of the sum assured as an assured benefit for the marriage milestone.

Note: You can also defer the payment of assured benefits by 1, 2 or 3 years. The insurer will enhance the deferred payout by 6% per annum.

Death Benefit

If the life assured dies during the policy term, the plan provides the following death benefit to the nominee.

  • Assured Benefits (as per the option chosen by the policyholder)
  • Any excess amount of the Sum Assured on Death over the discounted value of the Assured Benefits (Payable in future) immediately as lump-sum

Note – All future installment premiums shall be waived off.

Other than this, the nominee can also choose the immediate payment of death benefit. In such a case, the nominee will get a death benefit higher of the following amounts.

  • Sum Assured on Death ( maximum of 10 Times the Annualized Premium or 105% of Total Premiums paid
  • Discounted Value of All Future Benefits (Discounted at 8% per annum)

Maturity Benefit

If the life assured survives till the end of the policy term, he/she will get a maturity benefit. This amount will be an assured benefit.

Multiple Rider Options

You can also enhance your existing protection by choosing the following rider options.

  • Accidental Death and Disability Rider
  • Critical Illness Rider
  • Surgical Care Rider
  • Hospital Care Rider
  • Waiver of Premium Rider
  • Accidental Death Benefit Rider Plus

ABSLI Child’s Future Assured Plan Eligibility Criteria

You will need to meet the following conditions before purchasing this plan.

  • Minimum Age at Entry for the Life Assured – 18 years
  • Maximum Age at Entry – 65 years (50 years on choosing Enhanced Cover option)
  • Maximum Age Allowed at Maturity – 75 years

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