Is the ABSLI Child's Future Assured Plan A Good Investment?
Updated On Feb 17, 2022
The ABSLI Child's Future Assured plan includes life insurance as well as a savings option. This plan provides guaranteed benefits to help you fulfill your child's future needs, such as college tuition or marriage expenses. You can choose to develop your corpus for one or both of your child's important life events. You will receive a 20% loyalty bonus if you pay your premiums on a regular basis, which will be added to the guaranteed benefit at each distribution. In the case of the life assured's untimely death during the policy's term, the ABSLI Child's Future Assured plan provides financial security to the life assured's family. This plan also contains a maturity benefit, which is paid at the end of the policy term if the life assured survives the whole policy period.
Features of ABSLI's Child's Future Assured Plan
The ABSLI Child's Future Assured program has several critical components, which are outlined below:
- Provides financial security to the life assured's family in the case of the life assured's untimely death within the policy's term.
- This plan is specifically designed to ensure that your child's future expenses, such as higher education or marital expenses, are covered. There are three guaranteed benefits available under this plan: Education Milestone Benefit, Marriage Milestone Benefit, and Education and Marriage Milestone Benefit.
- In the event of the life assured's untimely death within the policy's term, the insurance provides financial stability to the life assured's family.
- This plan is designed to cover your child's future needs, such as further education or marriage expenses, with three guaranteed benefits: Education Milestone Benefit, Marriage Milestone Benefit, or Education and Marriage Milestone Benefit.
- In the case that the ABSLI Child's Future Assured plan offers a maturity benefit equivalent to the assured benefit payable at the end of the policy duration, loyalty enhancements are paid at a rate of 20% at each scheduled payout under the ABSLI Child's Future Guaranteed plan.
- Death and Disability as a result of an accident The six rider options are Rider, Critical Illness Rider, Surgical Care Rider, Hospital Care Rider, and Hospital Care Rider. Accidental Death Benefit Plus Rider and Premium Rider Waiver
- You can choose the premium payment period and the policy length with this plan.
- You may achieve your goals with ease thanks to the ABSLI Child's Future Assured plan's Policy Continuance Benefit.
The majority of us would agree that children are our society's future generation, and there are few things more vital than guaranteeing their safety and pleasure. We all want to save for the future, yet our plans for doing so frequently fail. As a result, devising a plan and starting to save is a good move. The Child plan can be set up in the name of the child or the parent. Your insurance should be versatile and effective when you need money to meet your child's expenses. ABSLI Vision Star and ABSLI Child's Future Assure are two ABSLI products. Child insurance is available from Aditya Birla. Sun Life can help you ensure that your child's wishes are honoured, even if you are no longer alive.
Also Read: How To Purchase Child Plans Online In India?
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.