The Life Insurance Corporation of India (LIC) offers a range of plans to suit different needs. One such option is the LIC Aadhar Shila policy, designed for women with modest incomes. This plan, exclusively for women, reflects LIC’s commitment to gender-specific financial solutions.
What makes the LIC Aadhar Shila plan special?
It’s a non-linked, personal life insurance scheme that empowers women. It offers a fixed payout on maturity, and moreover, it provides support to the family if, unfortunately, the policyholder passes away during the policy term. Special eligibility and features: Exclusively for women with Aadhaar cards, it covers ages 8 to 55, allowing even an 8-year-old girl child as a policyholder. The policy duration is flexible, spanning 10 to 20 years. The insured amount ranges from Rs 2 to 5 lakh, with loans available after 3 years.
Maturity payouts: Imagine a 21-year-old woman choosing the Jeevan Aadhar Shila plan for 20 years. With an annual premium of Rs 18,976 (around Rs 1,600 per month or about Rs 53 per day), she accumulates around Rs 3.8 lakh over two decades. At maturity, she gets Rs 6.62 lakh, including Rs 5 lakh basic sum assured and Rs 1,62,500 loyalty addition.
Calculations: The provided premium and maturity calculations are indicative. Different calculations apply for an 8-year-old. For precise details, consult your local LIC office. Importantly, the policy allows annual installment payments for maturity.
Nominee benefits: If the policyholder passes away, the nominee gets the sum assured, up to 7 times the annual premium or 110 percent of the sum assured. The plan also includes loyalty additions with maturity sum assured.
Remember, this info offers an overview. For personalized details, connect with LIC representatives.
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