If the policyholder dies after five years, the nominee is given loyalty additions (if anything). If you invest Rs 51 daily for 15 years in this policy, then you will get Rs 3 lakh 60 thousand on maturity.
Life Insurance Corporation of India (LIC) is one of the most trusted companies in the country. If you are planning for safe investment, then you can invest in this company’s endowment plan ‘Adharshila’ (944). This policy is designed for women. The specialty of this policy is that only women can invest in it. In addition, only those women who have an Aadhaar card are eligible for it.
There are certain conditions for investment in this policy. Covers from an 8-year-old girl to a 55-year-old woman. The minimum insurance cover is Rs 75 thousand while the maximum is fixed at Rs 3 lakh. If the policyholder dies in the first 5 years of the commencement of the policy, then the benefit received will be paid to his / her nominee.
If the policyholder dies after five years, the nominee is given loyalty additions (if anything). If you invest Rs 51 daily for 15 years in this policy, then you will get Rs 3 lakh 60 thousand on maturity.
Age: 55
Term: 15
Sum Assured: 30,00,00
DAB: 30,00,00
Death Sum Assured: 330000
Basic Sum Assured: 300000
First Year Premium with 4.5% Tax –
Annual: 18855 (18043 + 812)
Half Yearly: 9526 (9116 + 410)
Quarterly: 4812 (4605 + 207)
Monthly: 1604 (1535 + 69)
YLY Mode Average Premium / Daily: 51
After deducting the first year premium with reduced tax –
Annual: 18449 (18043 + 406)
Half Yearly: 9321 (9116 + 205)
Quarterly: 4709 (4605 + 104)
Monthly: 1570 (1535 + 35)
YLY Mode Average Premium / Daily: 50
Total Estimated Premium Payable: Rs 2,77,141
SA: 300000
LA: 60000
Total Estimated Return at Maturity: 3,60,000
According to the above example, if a parent chooses her 55-year-old female 15-year term plan and 30,00,00 sum assured option, then they have to pay 51 rupees daily for 15 years. In this way, they have to pay a total of Rs 277141. This amount will be Rs 36,00,00 on maturity.
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