LIC Aadhaar Shila Policy: Life Insurance Corporation of India keeps on coming out with different schemes to provide facilities to its customers. Due to this, LIC has come up with a scheme to make women self-reliant. LIC’s Aadhar Shila policy is the best scheme to make women financially strong. Women of 8-55 years can invest under this scheme.
Special scheme made for women
LIC Aadhar Shila Policy provides both security and savings to its customers. However, only women can take advantage of this scheme. Only those women can invest in this scheme, whose Aadhar card is already made. The policyholder gets the money on the maturity of the policy.
How much to invest under the scheme?
Under this scheme, a minimum of Rs 75000 and a maximum of Rs 3 lakh can be invested. The maturity period of this policy is minimum 10 years and maximum 20 years. A woman of 8-55 years can invest in LIC’s plan and the maximum maturity age is 70 years.
How much money do you get on maturity?
If you invest Rs 29 every day, you can get Rs 4 lakh on maturity. The premium payment period under this scheme can be on monthly, quarterly, half yearly and yearly basis.
How to get 4 lakh rupees?
Let us understand this scheme with an example. Suppose you are 30 years old and you deposit 29 rupees daily for 20 years in it. By doing this you will have a total deposit of Rs 10,959 in the first year. Now it will attract a tax of 4.5 percent. Next year you will have to pay Rs 10,723. Now in 20 years you will have Rs 2,14,696 deposited and at the time of maturity you will get a total of Rs 3,97,000.
Features of this scheme
This scheme is only for women and the premium amount is less in this. In this you get the facility of auto cover. After 3 years you can take a loan against this policy. Income tax is not levied on the amount invested in this scheme under 80C. At the same time, the maturity amount is also tax free under section 10(10D).