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LIC : Special policy of LIC for Aadhaar cardholder women, security will get bonus

LIC’s Aadhaar Shila Plan is one such policy, which is specially made for women. This policy has been prepared for those women who have Aadhaar Card issued by UIDAI.

New Delhi. In today’s time, life insurance is essential for every person. Life cover is also available along with your savings on insurance. The country’s largest life insurance company Life Insurance Corporation of India (LIC) has introduced different insurance policies according to the needs of the people. LIC’s Aadhaar Shila Plan is one such policy, which is specially made for women. This policy has been prepared for those women who have Aadhaar Card issued by UIDAI.

LIC’s Aadhaar Shila Plan is a guaranteed return endowment plan. This is not a market related plan. In this, you are given the benefit of bonus facility. LIC’s Aadhaar Stila plan also provides you with security and savings at the same time. This scheme provides financial support to your family if you are not there before maturity. If you survive the policy term then you are paid a specified amount at maturity.




Sum Assured: Minimum – Rs 75,000, Maximum – Rs 3,00,000
Policy term: 10-20 years
Premium payment period: Up to the chosen policy term

Payment Payment Mode: Annual, Half-yearly, Quarterly or Monthly

Benefits of LIC Aadhaar Plan –

1. Death Benefit:

If the policy holder dies in the first 5 years of the commencement of the policy, the death benefit will be paid to him. is. If the policy holder dies 5 years after the commencement of the policy but before maturity, then his nominee is also paid Loyalty Additions (if any) along with the Sum Assured on death.

Here the Sum Assured on death means maximum of the following:

10 times the annual premium or
110% of the basic sum assured
Death benefit should not be less than 105% of the total premium paid till death.

2. Maturity benefits

If the policy holder survives the entire policy term and has paid all his outstanding premiums, he is also paid a Loyalty Addition (if any) along with the Sum Assured on maturity. Here the Sum Assured on Maturity is the Basic Sum Insured.

3. Loyalty Addition

If you remain in the policy for 5 years, and you have paid all the premiums, then under this plan you are eligible for Loyalty Addition on death or maturity during your policy term. The LIC rate you get is announced by LIC. If your policy has changed to a paid-up policy, then you will get the Loyalty Addition for the same policy period as the period you were in the policy.

Who can take this policy

The minimum age limit for investing in this scheme is eight years.

Maximum 55 years old woman can take this policy.

At the same time, at the time of maturity, the policyholder’s age should not be more than 70 years.

This policy provides life cover along with saving.

Once the policy is matured, the policy holder gets a lump sum.

However, on the death of the policy holder, the family gets the assistance.

Other conditions under the scheme-

Revival – A policy that has been closed and is running on paid up can be revived again. But it can be revived within two years from the last full premium. For this, along with the outstanding premium, interest on it has to be paid.

Grace period – Payment of premium is required on regular fixed date. If for some reason you could not pay the premium on the due date, then LIC gives you extra time to pay the premium. This time is 30 days and 15 days. Additional time of 30 days is given to those who pay the premium annually, half-yearly or quarterly. Additional time of 15 days is given to those who pay the premium monthly.

Paid up valueIf the premium is not paid even during the grace period, the policy is terminated. If the premium for at least three years has been paid, then the policy changes to a paid up policy. The payment of the amount received in this paid up policy is calculated as follows, the sum assured is reduced by the ratio of the premium paid and the actual premium payable. Accumulated bonus is also added to the amount received from this calculation. No future bonus is added to the paid up policy. And this paid up amount is paid by LIC on maturity or death.

Surrender Value-If the policy holder wishes, the policy can surrender, and the surrender can get the value. But the surrender value applies only if you have paid the first three years premium under the policy. On surrendering the policy, the guaranteed surrender value and the special surrender value, whichever is higher, are paid. It is calculated as follows.

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