ABSLI Child’s Future Assured Plan

• Why should you buy ABSLI Child's Future Assured Plan?
  Child insurance plans like this one provide life cover along with assured benefits to secure your child’s future. A key advantage here is the plan’s flexibility in terms of the premium-paying term and the policy term. Besides, you can choose either or both the following benefits when buying the policy: Education Milestone Benefit: Pays out lump sum amounts as per a pre-decided schedule
  
  Marriage Milestone Benefit: Pays out a lump sum when the policy term ends
  
  The plan also provides a death benefit in the event of the policyholder’s demise.
  
  
• What are the things to consider while buying ABSLI Child's Future Assured Plan?
  There are three main aspects to consider when buying a child savings plan like this one:
  
  Life Insurance Cover: The amount should provide for your family’s daily needs in your absence.
  
  Education Milestone Benefit: Factor in the current costs of schooling and higher education. Consider the impact of inflation to ensure that you save enough. Also think about when the pay-outs would be required.
  
  Marriage Milestone Benefit: The child insurance plan pays this benefit at the end of the policy term. So, you would need to choose a policy term accordingly.
  
  
• What is the right time to buy ABSLI Child's Future Assured Plan?
  The sooner you start saving in a child future assured plan, the better it is. This gives the money invested more time to grow. An early start ensures that your child has adequate funds for their educational needs and/or for their wedding, when the time comes.
  
  
• What is so special about ABSLI Child's Future Assured Plan?
  The plan helps you to ensure complete financial security for your child. With the child education benefit option, you can provide for your child’s education over the long term. The Marriage Milestone Benefit allows you to build a corpus for their wedding.  Meanwhile, the life cover ensures that the family is provided for even in your absence. Plus, the plan offers a great deal of flexibility. You can choose the benefit you want, select the premium-paying and policy terms, enhance your life insurance cover, and extend your coverage with additional riders.
  
  
• Can I get tax benefits under the Child's Future Assured Plan?
  The premium paid annually will provide you tax benefits1 under Section 80C of the Income Tax Act, 1961. Any income received from the plan is eligible for tax benefits1 under Section 10 (10D) upon fulfilling conditions/ requirements of the section.
  
  ¹Tax benefits are subject to changes in the tax laws. Please consult your tax adviser to know more.
  
  
• Can I purchase ABSLI Child's Future Assured Plan for my 15-year old kid?
  Yes, you can. But the minimum policy terms are eight years when you choose the Marriage Milestone Benefit, 10 years for the Education Milestone Benefit, and 11 years for the Education and Marriage Milestone Benefit. So, consider the timelines before you finalize the policy terms.
  
  
• How much coverage should be taken to insure child’s future?
  The life insurance coverage should take care of your family’s regular expenses, including the costs of education and/or marriage for your child. Your loved ones should not have to compromise on their lifestyle in your absence.
  
  
• When can one withdraw money from ABSLI Child’s Future Assured Plan?
  While you cannot withdraw money from the plan corpus, your nominee will receive the assured benefits as per the schedule:
  
  Education Milestone Benefit: You can time the policy pay-outs based on the child’s educational needs. For instance, you could fix a pay-out date around the time your child is likely to start college.
  
  Marriage Milestone Benefit: This benefit is payable at the end of the policy term.
  
  Death Benefit: If the policyholder passes away during the policy term, the child receives the sum assured.

HDFC Bank Limited (IRDAI Registration No: CA0010) is the Corporate Agent of Aditya Birla Sun Life Insurance Company Limited and does not underwrite the risk or act as an insurer.

Registered Address: HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400 013. Participation by the Bank’s clients in the Insurance products is purely on a voluntary basis. The contract of Insurance is between Aditya Birla Sun Life Insurance Company Limited and the Insured and not between HDFC Bank and the Insured.

This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). A non-linked non-participating individual life insurance savings plan. All terms & conditions are guaranteed throughout the policy term. GST and any other applicable taxes will be added (extra) to your premium and levied as per extant tax laws. An extra premium may be charged as per our then existing underwriting guidelines for substandard lives, smokers or people having hazardous occupations etc. The insurance cover for the life insured (including minors) will commence on the policy issue date. For further details, please refer to the policy contract. Tax benefits are subject to changes in the tax laws. For more details and clarification call your ABSLI Insurance Advisor or visit our website and see how we can help in making your dreams come true. For more details on the risk factors, terms and conditions please read the sales brochure carefully before concluding the sale. Aditya Birla Sun Life Insurance Company Limited. Registered Office: One World Centre Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013. Call Centre: 1-800-270-7000 www.adityabirlasunlifeinsurance.com IRDAI Reg. No. 109 CIN: U99999MH2000PLC128110 ADV/9/20-21/1161 UIN: 109N124V01

BEWARE OF SPURIOUS / FRAUD PHONE CALLS!

​​​​​​​IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.

“As per recent changes in section 10(10D) of Income Tax Act, where the amount of aggregate annual premium payable in the financial year in case of Traditional plans (all non-unit linked plans except Annuity, Pension and Pure Risk Plans) issued on or after 1st April 2023 exceeding INR 5,00,000 the benefits of the policy/policies shall not be eligible for exemption under section 10(10D) except in case of death”. The customer is requested to seek advice of a tax advisor with respect to his/her personal tax liabilities under the Indian Income-tax law."