ABSLI Child’s Future Assured Plan
Why buy ABSLI Child’s Future Assured Plan?
ABSLI Child’s Future Assured Plan is a life insurance savings plan designed to provide financial support for your child’s important milestones: Education and Marriage. This plan guarantees that these key milestones will be secured, even in your absence.
Key Features:
- Flexibility: Choose to save for Education, Marriage, or both.
- Customization: Select various Pay Term and Policy Terms.
- Enhanced Coverage: Opt for additional insurance coverage.
- Riders: Enhance your risk cover with appropriate rider options.
Benefits of ABSLI Child’s Future Assured Plan:
- Assured Benefits: Fund your child’s education, marriage, or both.
- Education Milestone Benefit: Receive annual payouts to cover education costs.
- Marriage Milestone Benefit: Get a lump sum payment for your child’s wedding.
- Education and Marriage Milestone Benefit: Combine both benefits.
- Death Benefit: In case of the life insured’s untimely demise:
- Assured benefits will be paid as scheduled.
- Any excess sum assured will be paid as a lump sum.
- Future premiums will be waived.
- Loyalty Additions: Earn a 20% bonus on assured benefits for timely premium payments.
- Maturity Benefit: Receive the assured benefit at the end of the policy term.
- Enhanced Insurance Cover: Choose additional coverage for increased protection.
ABSLI Child Future Assured Plan With Riders:
- Accidental Death and Disability Rider: Get protection for accidental death or disability.
- ABSLI Accidental Death Benefit Rider Plus: Receive a lump sum amount in case of accidental death.
- ABSLI Critical Illness Rider: Get a lump sum benefit upon diagnosis of a specified critical illness.
- ABSLI Surgical Care Rider: Receive a lump sum benefit for hospitalization and surgery.
- ABSLI Hospital Care Rider: Get daily cash benefits for hospitalization.
- ABSLI Waiver of Premium Rider: Waive future premiums in case of critical illness, disability, or death (if the life insured is a minor).
Check Your Eligibility:
- Age: 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: Varies based on chosen plan
- 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, or Monthly
- Enhanced Insurance Cover: 50%, 100%, or 200% of Sum Assured
- Premium Paying Term: Minimum and Maximum terms vary based on chosen plan
Secure Your Child’s Key Milestones:
Invest in ABSLI Child’s Future Assured Plan to ensure your child’s financial security.
Suicide Exclusion: If the life insured dies by suicide within 12 months of policy commencement or revival, the death benefit will be the premiums paid or surrender value, whichever is higher.
How to Initiate a Claim: Follow three simple steps:
- Fill basic details.
- Intimate the claim.
- Submit documents.
FAQs:
- When to buy ABSLI Child’s Future Assured Plan? The sooner you start, the better for your child’s future.
- Can I purchase it for my 15-year-old kid? Yes, you can.
- When can I withdraw money? The withdrawal options depend on the plan and policy terms.
- How much coverage should I take? Consider your child’s future needs and financial goals.