LIC’s Aadhaar Shila
Details of Aadhaar Stambh
This is a regular premium non-linked with profits endowment assurance plan exclusively designed for Female lives. This plan shall be allowed to standard lives under non-medical only.
Sum assured on death – Basic sum assured
First 5 years of policy – sum assured on death
6th year on wards sum assured on death + loyalty Addition if any…
Basic sum assured + loyalty addition if any….
Maturity /Death claim in instalments for 5,10,15 years for full or part of maturity/death claim amount – option to be exercised -3 months before maturity and for death claim during life time by life assured.
Age35,sum assured Rs.3,00,000 , term-20years , Basic yearly premium Rs.10,528. In case of death at age 40 in 6th year of policy.
Sum assured on death +loyalty Additions
Rs.3,00,000 + Rs.7500(25*300)
In case of Accidental Death (If Opted for Accident benefit Rider)
Additional Rs.3,00,000 will be paid along with natural death benefits.
Total – Rs.3,07,500 + Rs.3,00,000 = Rs.6,07,500
Maturity at age 55
Basic sum assured + loyalty addition @8%
Rs.3,00,000 + Rs.49,500(165 * 300)
Features & Condition
- Minimum age at entry – 8year
- Maximum age at entry -55year
- Maximum age at maturity – 70year
- Minimum term -10year
- Maximum term -20year
Minimum sum assured – Rs.75,000 & in multiples of Rs.15,000 up to 1,50,000 & Maximum Sum Assured Rs.3,00,000 there after policies.
- Accidental Riders
Mode of Payments
- Yearly ,half yearly ,Quarterly
- Modes rebate yearly 2% , Half yearly 1%
- High Basic Sum Assured Rebate
- Up to 1.90lacks – Nil
- 2lacks to 2.90lacks – Rs.1.50% Basic sum assured
- 3lacks –Rs.2.00% Basic sum Assured
15 days for monthly mode and 30 days for other mode. Claim Cessions available under base plan only . Not apply to riders and death due to suicide.
Paid up /surrender /policy loan – Available after payment of premium of 2full years
Auto cover period for death benefit
- Premium paid 3 to 5years – 6months
- Premium paid 5years or more – 2years
- Revivals – with 5 years of FUP
- Back dating – Allowed lean month’s benefits
- Tax Benefits
- On basic premiums – U/S 80c
- Maturity /Death claim – U/S 10(10D)
- Actual sum assured (ASA) for SUC
For NM limit –Basic sum assured only this is stand alone plan not to be clubbed with any other plan for SVC/Max insurance allowed under any category of lives.
Age proofs – all allowed
Female lives – Not allowed
Minor lives / Major Students
Allowed to school going and standard lives only , without parents matching insurance standard age proof is must.
LIC’s Aadhaar Shila Insurance is very useful for us .It is an important part of our lives and after life .It is confident that it will be an anchor not only for us but also for our family.