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What is a Savings Plan?
Savings plans are easy-to-understand life insurance products that help you save for the future while keeping your family safe. They make it simple to put money aside regularly, offering good returns when you need them most. These plans also include insurance, so your loved ones are financially protected if something unexpected happens.
With a savings plan, you get a guaranteed payout when the policy ends. Some plans even provide regular income during or after the term, helping you plan for big moments like buying a car or funding your child’s education. You can choose payment amounts and durations that suit your budget and goals, making it a flexible way to save.
These plans can come with added benefits, like coverage for serious illnesses or a payout to your family if you pass away. They’re a smart, low-risk way to grow your savings and ensure peace of mind.
- ● Secures your future.
- ● Saves you tax.
- ● Flexible payment terms.
Types of Savings Plans
Whether you’re saving for a short-term goal or a lifelong dream, the right savings plan can make all the difference. Here’s a look at the main types available in India:
Endowment Plans
These plans combine life cover with savings, offering a fixed lumpsum at maturity or death. Ideal for risk-averse investors, they ensure steady growth for goals like retirement or education.
Unit-Linked Insurance Plans (ULIPs)
ULIPs blend insurance with market-linked investments, allowing higher returns for those comfortable with risk. You can switch funds to align with your strategy, perfect for long-term wealth creation.
Guaranteed Return Plans
The best saving schemes, like ABCDs guaranteed plans, provide fixed payouts unaffected by market fluctuations. They suit conservative investors seeking security for milestones like marriage or home purchase.
Each savings policy offers unique benefits, from assured returns to flexible investments. Choose based on your risk appetite and goals, with ABCDAB’s plans leading as the best savings plans in India for reliability.
Our Savings Plans At A Glance.
ABSLI Assured Income Plan
UIN: 109N127V16
KEY FEATURES 
- Guaranteed returns on your investments
- Loyalty additions boost the benefits
- Choose from two income payout options
Minimum Sum Assured
₹5,50,000Minimum Premium
₹50.000/ YearABSLI Nishchit Aayush Plan
UIN: 109N137V06
KEY FEATURES
- Guaranteed# income
- Customisable options
- Lump sum benefit at maturity
Get Maturity Amount
₹ 35 Lakhs1Pay Premium
₹ 10,000/month for 10 yearsABSLI Assured Savings Plan
UIN: 109N134V08
KEY FEATURES
- Maturity corpus with Loyalty Additions
- Option to cover spouse under the same plan
- Enhanced coverage through riders
Get Maturity Amount
₹5.81 lakhs2Pay Premium
₹5,000/month for 6 yearsComparison of Savings Plans in India 2026
Here’s how the best savings plans in India compare to each other:
| Features | ABSLI Assured Income Plan | ABSLI Nishchit Aayush Plan | ABSLI Assured Savings Plan |
|---|---|---|---|
| Best For | Low-risk income seekers wanting steady returns | Long-term planners needing flexible payouts | Family-focused investors seeking spouse coverage |
| Entry Age | 30 Days | 30 Days | 30 Days |
| Joint Life Protection | No | No | Yes |
| Staggered Death Benefit | Yes | Yes | Yes |
| Loyalty Additions | Yes | No | Yes |
| Minimum Annualised Premium | ₹50,000 |
Income Only Benefit: Up to Age 45 years: ₹50,000; Age 46 years and above: ₹1,00,000; Other than Income Only Benefit: ₹30,000 |
Single Pay: ₹1,00,000; 6-12 Pay: ₹30,000; 5 Pay: ₹20,000 |
| Whole Life Income | No | Yes | No |
| Tax Saving | Yes | Yes | Yes |
| Example Returns | Pay ₹50,000/year for 10 years, get steady income for 25 years | Pay ₹10,000/month for 10 years, get ₹35 lakhs maturity | Pay ₹5,000/month for 6 years, get ₹5.81 lakhs maturity |
ULIPs offer market-linked growth for higher returns, while endowment plans ensure stability. Compare premiums (₹20,000–₹1,00,000/year), sum assured (₹5.5 lakhs+), and riders.
Aditya Birla Capital’s best savings plans in India lead with a 98.12% claim settlement ratio and tax benefits. Use our calculator for personalised insights.
Add Riders for Extra Protection
ABSLI Accidental Death Benefit Rider Plus
Provides 100% of Rider Sum Assured as an additional lump sum amount in case of death due to accident of Life Insured. Additionally, the rider premiums collected after the date of accident till date of death, shall be refunded with interest, along with death benefit payable. This rider is only applicable for a Life Insured aged 18 years & above and the rider Policy Term cannot exceed the base Policy Term.
ABSLI Critical Illness Rider
Provides lump sum on survival of 30 days from the date of diagnosis of any of the specified critical illnesses. This rider is only applicable for a Life Insured aged 18 years and above and the rider Policy Term cannot exceed the base Policy Term.
ABSLI Surgical Care Rider
Provides lump sum benefit in case of hospitalisation for a minimum period of 24 hours for undergoing medically necessary surgery in India. This rider is only applicable for a Life Insured aged 18 years and above and the rider Policy Term cannot exceed the base Policy Term.
ABSLI Waiver of Premium Rider
Waives off all future premiums of the base plan and the attached riders throughout the rest of the premium payment in case of diagnosis of Critical Illness, Disability or Death (only if Life Insured is a minor i.e., below 18 years of age and is different from the Policyholder).
ABSLI Hospital Care Rider
Provides daily cash benefit in case of hospitalization for a minimum period of 24 hours for medically necessary treatment of any Illness or Injury payable from the first day for the duration of hospitalization. This rider is only applicable for a Life Insured aged 18 years and above and the rider Policy Term cannot exceed the base Policy Term.
Check Your Eligibility
Eligibility Criteria
- Age Depends on the plan and option selected
- Citizenship Indian citizen residing in India at the time of purchase
- Income Varied criteria depending upon plan
- Medical tests Underwriting of genuine medical history
- Job profile The level of occupational risk needs to be assessed
- Smoking habits Affect your premium
Documents Needed
- Proposal form
- Age proof
- Photo identity proof
- Address proof
- Medical report
- Income proof
- PAN/ Aadhaar card
Documents & Eligibility Criteria for Savings Plan in India
Steps to Buy Savings Plan Online
Starting a saving investment plan is quick and easy with Aditya Birla Capital’s online process. Follow these steps to secure your future:
Assess Your Goals
Identify your financial needs, like retirement or education, to decide the right sum assured and premium for your savings plan.
Research Plans
Visit Aditya Birla Capital’s website to explore top saving schemes, checking inclusions, exclusions, and terms to find the best fit.
Check Insurer Credentials
Confirm insurance reliability with its 98.12% claim settlement ratio and strong financial stability.
Confirm Eligibility
Ensure you meet the age, income, and medical requirements for your chosen savings policy.
Submit Details Online
Complete the online forms and upload documents like ID and income proof through ABCD’s secure portal.
Pay and Activate
Make your first premium payment online to activate your savings plan. Start today at https://lifeinsurance.adityabirlacapital.com
Customer Satisfaction Stories
Aditya Birla Sun Life Insurance Customer
Entire surrender process was quite smooth with timely documentation and payout. Great experience!
Aditya Birla Sun Life Insurance Customer
Gujarat, India
Aditya Birla Sun Life Insurance Customer
Due to seamless branch support and timely communication from ABSLI, my maturity payout process was quite smooth.
Aditya Birla Sun Life Insurance Customer
Haryana, India
ABCD - One app for
Secure yourself and your loved ones financially with life insurance. Buy online through the ABCD app and get instant coverage.
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Range of insurance policies to choose from -
Online premium payments
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Few clicks to buy the plan
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Understanding Savings Plan
What is a Savings Plan ?
- It is a type of Life Insurance plan that helps you save and grow your money over time while providing life cover.
- In the event of your death during the term, it ensures that your loved ones are financially secure by paying the sum assured as a lump sum or in regular instalments.
- A Savings Plan is a very low-risk investment and an excellent option for people with low risk-taking capacity.
How does a Savings Plan work?
A savings plan is a smart way to grow your money while securing your family’s future. By paying regular premiums, you build wealth and gain insurance protection tailored to your goals.
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Regular Premium Payments
Pay premiums monthly, quarterly, or annually over a term of 5–30 years to suit your budget.
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Wealth Growth
Your money grows through secure or market-linked funds, enhanced by bonuses like annual reversionary additions or a terminal payout at maturity.
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Maturity Benefits
At the end of the term, receive a lumpsum or regular income to meet goals like retirement or education.
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Life Cover
If you pass away, your nominees receive the sum assured, ensuring their financial security.
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Flexible Options
Choose from ABCDs best saving schemes with customizable premiums and guaranteed returns for steady wealth creation.
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Plan with Ease
Use our online calculator to estimate premiums and payouts, making planning simple and effective.
Who should buy a Savings Plan?
Savings plans are perfect for people at different stages of life looking to secure their financial future. They blend wealth creation with insurance protection, making them ideal for various goals and life events. 
Parents
Secure funds for your children’s education or marriage with guaranteed payouts that align with key life milestones. With regular premium payments, you can build a financial safety net that matures just when your child needs it the most, whether it's for higher studies, overseas education, or wedding expenses.
Young Earners
Start investing early to benefit from the power of compounding. Savings plans help you stay disciplined with your finances while accumulating wealth for big goals like buying a home, funding a start-up, or even taking a sabbatical later in life. Starting young gives you more time to grow your money steadily.
Mid-Career Professionals
Diversify your investment portfolio with stable, low-risk savings options. If you're already saving through mutual funds or equities, adding a savings plan brings insurance coverage and steady returns, helping you plan better for retirement or large expenses like your child’s college fees or a second home.
What are the additional bonuses associated with a Savings Insurance Plan?
Bonuses can significantly boost the value of your savings plan. They are typically linked to your insurer’s performance and are an added advantage for policyholders who pay premiums consistently and stay invested over the long term.-
Reversionary Bonus
This bonus is declared annually and is added to your policy's sum assured. It depends on the insurer's performance and your sum assured, meaning the longer you stay invested, the more your corpus grows. These annual bonuses are compounded over time and can considerably increase the policy value at maturity or death.
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Terminal Bonus
A terminal bonus is a one-time payout added at the end of your policy, either at maturity or upon death. It’s usually higher for long-term investors and acts as a reward for sticking with the plan throughout its term. It boosts your overall returns significantly and is over and above other benefits.
What factors should determine the duration of your investment in a Savings Plan?
Choosing the right tenure for your savings plan is crucial to align it with your financial aspirations and life goals. The plan’s duration impacts how much wealth you can build, the compounding benefit, and even liquidity options. Financial Goals
Match your plan’s tenure with your objective. For short-term goals like an international vacation or car purchase, a plan of 5–10 years may suffice. For long-term goals like retirement, you should opt for tenures ranging from 15 to 30 years to maximise the compounding effect.
Age
Younger investors have the luxury of time on their side. Starting in your 20s or early 30s means you can afford to stay invested for a longer duration, gaining significantly from compound interest. Older investors, on the other hand, may need to opt for shorter terms with guaranteed payouts closer to retirement.
Inflation
Always consider how inflation affects the future value of your savings. Choose a savings plan that offers returns in the range of 4–8% to beat inflation, which typically hovers around 5–6%. Longer terms allow your returns to accumulate and retain purchasing power.
What are the key advantages of investing in a Savings Plan?
Savings plans offer a smart way to grow wealth while providing life cover. They help you stick to a savings habit and deliver guaranteed returns, making them ideal for risk-averse individuals and long-term planners.
Tax Savings
You can claim deductions of up to ₹1.5 lakhs under Section 80C of the Income Tax Act for premiums paid. Additionally, the maturity benefit and death benefit may be exempt from tax under Section 10(10D), provided certain conditions are met. This makes savings plans a tax-efficient way to invest.
Guaranteed Returns
Unlike market-linked products, savings plans often come with fixed or guaranteed returns. These returns, usually in the range of 4–8% annually, are ideal for those who prioritise stability over high but uncertain gains. They offer peace of mind with assured payouts.
Life Cover
Savings plans also include a life insurance component, typically starting from ₹5.5 lakhs and up. In the event of your untimely demise, your family receives the sum assured, ensuring financial stability and helping them meet critical expenses in your absence.
What are the liquidity options offered by a Savings Plan?
While savings plans are primarily long-term products, they also provide useful liquidity options for emergencies or planned withdrawals, striking a balance between growth and access.- Loan Availability: You can withdraw a portion of your savings from the plan up to a specified limit without terminating the policy, which can be useful during financial emergencies.
- Partial Withdrawal: Some savings plans offer partial withdrawal facilities after the initial lock-in period. This is especially useful for planned expenses such as a child’s school fees or a medical emergency. While not all plans offer this feature, it adds significant value by ensuring flexibility.
What are the things to consider before investing in a Savings Plan?
Investing in a savings plan should align with your overall financial goals. Evaluate your risk appetite, budget, and investment timeline carefully before making a decision.
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Risk Appetite
If you prefer safety, go for traditional savings plans with guaranteed returns. If you're comfortable with moderate risk, Unit Linked Insurance Plans (ULIPs) offer market-linked growth along with life cover, providing higher return potential.
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Plan Type
Choose from various types such as endowment plans for steady returns or ULIPs for flexible investment options and higher returns. Knowing the difference helps you match the plan with your investment strategy.
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Tenure
Pick a term that suits your goal—shorter durations for short-term needs like vacations, longer terms for goals like retirement or child’s education. Typical tenures range from 5 to 30 years.
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Premium Affordability
Ensure the premium fits well within your monthly or annual budget. Overcommitting can strain your finances, so choose a plan where you can pay consistently without disrupting other financial responsibilities.
How to compare different Savings Plans?
Not all savings plans are created equal. To find one that best suits your financial needs, it’s important to evaluate the features and benefits carefully.
- Premium:Check if the premium amount fits your income level and spending capacity. A plan with ₹20,000–₹1,00,000 per year should be manageable and aligned with your income without putting strain on your finances.
- Return on Investment: Evaluate the expected returns—are they fixed, guaranteed, or market-linked? While guaranteed returns offer safety, market-linked ones can deliver better growth if you're comfortable with some risk.
- Term: Ensure the plan's term fits your goal timeline. Whether it’s 5 years or 30, the tenure should support your savings objective like retirement, children’s future, or wealth creation.
- Sum Assured: Choose a plan with adequate life cover, ideally ₹5.5 lakhs or more, to ensure your family is protected financially in case of your absence. This adds an insurance safety net to your investment.
Important factors to consider while investing in Savings Plans
Choosing a savings plan isn’t just about returns. It’s about aligning the product with your life goals, budget, and risk profile. Here's a checklist to help you make the right choice.
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Start Early
The earlier you start, the more you benefit from compounding. Starting in your 20s or early 30s helps you build a larger corpus with smaller premiums over time.
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Risk Profile
Pick a plan that suits your risk appetite. Conservative investors can stick with traditional guaranteed plans, while those with moderate risk tolerance might explore ULIPs for higher returns.
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Tenure
Your investment term should match your financial goals. A longer term offers better compounding benefits and higher maturity values. Plans usually offer terms ranging from 5 to 30 years.
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Financial Goals
Be clear about why you’re investing—whether it’s for your child’s education, a home, or retirement. Choosing a plan aligned with your goal ensures better outcomes.
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Charges
Be aware of policy charges like administration, fund management, or mortality charges. Lower fees mean more of your money stays invested, leading to better overall returns.
Solutions-Oriented Retirement Fund
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Equity returns for attractive investments
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Variety of plans available
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ABC Of Life Insurance
*Tax benefits are subject to changes in tax laws. Kindly consult your financial advisor for more details.
**Sec 10(10D) benefit is available subject to fulfilment of conditions specified therein.
^ As per annual audited figures submitted to IRDAI for the period FY 22 – 23 for individual death claims paid.
$ As on 30th November 2023
$$ As on 31st December 2023
^^There are exclusions attached to the riders. For more details on risk factors, terms and conditions, please read the rider sales brochure carefully before concluding the sale.
¹ Male- 25 yrs invests in ABSLI Nishchit Aayush Plan with Level Income + Lumpsum Benefit. He chooses premium payment term 10 yrs , policy term 40 years, benefit option -Long Term Income, Sum Assured 7 times of Annualized Premium and Deferment Period 0 years. Annualized Premium is ₹1,20,000 (Exclusive of GST.). Annual Income of ₹45,900 (45,900*40=18,36,000) + Maturity Benefit (₹16,80,000) = ₹35,16,000
² Assured Savings Plan: Scenario: Healthy female age 21, investment for 6 years, maturity benefit after 12 years, payment frequency monthly, Sum Assured Rs.8,34,000 lakhs, monthly investment Rs.5000/-. You give Rs.3.60 lakhs and get Rs. 5,81,400 lakhs.
ABSLI Nishchit Aayush Plan (UIN: 109N137V06) is a non-linked non-participating individual savings life insurance plan.
ABSLI Assured Savings Plan (UIN: 109N134V08) is a non-linked non-participating individual savings life insurance plan.
ADITYA BIRLA CAPITAL DIGITAL LIMITED is a corporate agent of Aditya Birla Sun Life Insurance Company under IRDAI Registration No: CA0871 and does not underwrite the risk or act as an insurer.
Registered Address: 18th Floor, One World Center, Tower 1, Jupiter Mills Compound,841 Senapati Bapat Marg, Elphinstone Road Delisle Road, Mumbai Maharashtra 400013. Participation by the ABCD’s clients in the insurance products is purely on a voluntary basis.
The Trade Logo “Aditya Birla Capital” Displayed Above Is Owned By ADITYA BIRLA MANAGEMENT CORPORATION PRIVATE LIMITED (Trademark Owner) And Used By ADITYA BIRLA SUN LIFE INSURANCE COMPANY LIMITED (ABSLI) under the License. This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). 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. For policies issued on minor life, the date of commencement of risk shall be the date of commencement of the policy. Where a policy is issued on a minor life, the policy will vest after attainment of majority of the Life Insured. Where the Life Insured (whether major or minor) and Proposer/Policyholder is different, on the death of the Proposer/Policyholder, his legal heirs, in accordance with the existing succession laws, will be considered as new Proposer/Policyholder. Tax benefits are subject to changes in tax laws.
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding the sale. Registered Office: One World Centre Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013.
IRDAI Reg No.109 | Toll Free No. 1-800-270-7000 | Website: https://lifeinsurance.adityabirlacapital.com | CIN: U99999MH2000PLC128110 | ADV/3/23-24/3895
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.