Aditya Birla Sun Life Insurance launches
Child’s Future Assured Plan
~ A Child Plan
that offers guaranteed returns for a secured future~
Aditya Birla Sun Life Insurance (ABSLI),
the life insurance subsidiary of Aditya Birla Capital Limited (ABCL), has
launched a one-of-its-kind insurance plan called ABSLI Child’s Future
Assured Plan. It
aims at assured returns combined with protection, to financially secure a
child’s future milestones.
This child
plan offers guaranteed returns and is a non-linked non-participating life
insurance plan. ABSLI Child’s Future Assured Plan enables you to plan
for child’s two significant milestones - education & marriage by providing the
required cash flow to help you meet your goals for your child’s future. It has
an in-built Waiver of Premium element that ensures that the policy continues
in case anything unfortunate happens to the life insured. This plan offers the
flexibility to choose periodic pay-outs of 3, 6 or 9 years to plan for child’s
education and a lumpsum at the desired milestone, to plan for marriage. The customer
can also avail the option to receive both, guaranteed regular income to plan
for their child’s high school, graduation, and post-graduation expenses and
guaranteed lump sum as corpus for marriage related expenses.
Plan at
a glance
|
|
Entry Age
|
Minimum: 18 Years
Maximum: 65 Years (50 years if Enhanced insurance
cover is chosen)
|
Age at Maturity
|
75 years
|
Minimum Premium
|
Rs.
30,000 p.a.
Max No Limit
|
The plan can be tailor-made and customized basis an
individual’s requirement by opting for solutions such as flexible benefit options,
premium paying term, death benefit, and additional riders. It offers the choice
to enhance risk cover up to 200% of Sum Assured. This plans also enhances the benefits
by providing Loyalty Additions of 20% of each pay-out for policies, where all the
premiums have been paid through the premium paying term (PPT).
Policyholder can avail assured pay-outs and high sum
assured rebate with maximum guaranteed benefits, to plan for his/her child’s
education, marriage, or both together by opting from any of the following
options:
·
Education
Milestone: Option to
receive guaranteed annual pay-outs for 3/6/9 years as per the need for child’s
education preferably on child’s age from 15 to 21 years.
·
Marriage
Milestone: Option to
receive a guaranteed lump sum on maturity for a child’s marriage fund
preferably on child’s age from 24 to 32 years.
·
Education
and Marriage Milestones:
Option to receive both guaranteed income and a lump sum for a child’s education
& marriage.
Death
Benefit: In the event of unfortunate death of Life insured, any premiums due
thereafter will be waived off and nominee will continue to receive scheduled
Assured pay-outs. The nominee can also avail the option to receive a lump sum
of future Assured pay-outs at a discounted rate.
Commenting
on the launch, Kamlesh Rao, MD & CEO, Aditya Birla Sun Life Insurance said, “Building and sustaining
wealth corpus for child’s important milestones has always been the topmost
priority for every parent. During such unprecedented times, protection for your
child’s dreams and goals becomes a matter of utmost importance, hence the need
for creating a tailored solution, which provides guaranteed returns for addressing
your child’s future needs. We believe that ABSLI Child’s Future Assured Plan is
a distinctive product with assured pay-outs, which will cater to suit financial
goals of parents and a defined corpus will ensure peace of mind"
Key Benefits:
- Comprehensive planning for your child's future: Plan for your child's education, marriage or both life stage needs together under one product
- Guaranteed Benefits : All benefits are fully guaranteed
- Enhanced value for loyal customer: get 20% extra on each benefit as & when due as loyalty addition
- Flexibility to plan according to your desired milestone : Picka PPT & Assured Benefit Payment Term as per your desired milestone
- Enhanced risk coverage : Choice of enhancing risk cover up to 200% of Sum Assured to provide financial security to your loved ones in case of any exigency. Additionally, enhance coverage through riders
- Policey Continuance Benefit: We shall pay the monies at your desired milestones and the policy shall continue as is even in your absence
- High Sum Assured Rebate available
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