Under LIC’s Aadhaar Shila plan, a fund of lakhs can be created by saving a small amount every day. In this plan, no medical tests are required for the policyholder.
Life Insurance Corporation of India (LIC) has launched a new scheme named ‘LIC Aadhaar Shila Yojana’ which is exclusively for women. Its objective is to provide safety and savings to the customers. Women in the age group of 8 to 55 years can apply for this scheme. However, only those who have a valid Aadhaar card will be eligible for the scheme. It is very similar to general insurance plans.
Financial assistance is also available to the family of the policyholder on the death of the policyholder before the maturity of the Aadhar Shila plan. Whereas, if the policyholder survives till maturity then they get a lump sum payment. Unlike normal circumstances, this plan does not require any medical tests for the policyholder.
Highlights of Aadhar Sheela Plan
>> This is a non-linked participatory endowment plan, designed to increase savings and financial security in case of emergency.
>> In this, a lump sum amount is available at the end of the policy term.
>> If the policyholder dies before the end of the policy term, then his family gets its coverage.
>> Apart from this, if the policyholder dies after 5 years of taking the policy, then the facility of loyalty addition on maturity is also available.
>> Accident Benefit Rider is also available for the subscribers of this plan. However, it does not include any rider for critical illness.
>> Policy term is minimum 10 years and maximum 20 years. The maximum age of maturity in this plan is 70 years.
>> Premiums of this plan can be paid monthly, quarterly, half yearly or annually.
>> Under this plan specially designed for women, tax exemption facility is available on premium, maturity claim and death claim.
You will get 4 lakhs like this
Under LIC Aadhar Shila plan, the minimum amount of Basic Sum Assured is Rs 75,000 and maximum is Rs 3 lakh. If used wisely, this plan can fetch you lakhs of rupees. You can get up to Rs 4 lakh by saving just Rs 29 every day.
Death benefit amount
>> If the woman dies before the completion of the policy term, the lump sum amount to the nominee will be 10 times the annual premium or 105% of all premiums or Absolute Sum Assured.
>> If the policyholder dies after 5 years of taking the policy, then the nominee gets the death benefit equal to the sum assured. In such a situation, the death benefit claim amount will be equal to 110% of the Basic Sum Assured.
>> If the policyholder dies after 5 years of taking the policy but before the maturity, then the nominee will get the Basic Sum Assured and Loyalty Addition.
