LIC Scheme: LIC Aadhaar Pillar is a non-linked, with-profits endowment assurance life insurance plan available only to applicants who have an Aadhaar card.
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LIC Aadhar Stamp: If you want to invest, then you can get good returns by investing in LIC’s Aadhar Stambha policy. In today’s times, when it comes to choosing an insurance plan, many people are looking for a balance between savings and protection. LIC Aadhaar Stambh is one such plan that offers exactly that, making it an excellent option for those looking for a comprehensive insurance solution. This non-linked, with-profits Bandobast Assurance life insurance plan is exclusively available for applicants who have an Aadhaar card.
Eligibility for LIC Aadhaar Pillar
- LIC Aadhaar Stambh is a non-linked, with-profits endowment assurance life insurance plan available only to applicants who have an Aadhaar card.
- The minimum age to apply in this scheme is 8 years, and the maximum age is 55 years. The maximum maturity age for the scheme is 70 years.
- The minimum basic sum assured offered under the scheme is Rs. 75,000, and the maximum Basic Sum Assured is Rs. 3,00,000, which is Rs. Will be given in multiples of 5,000.
- The policy term for this plan is 10 years to 20 years and the premium paying term is equal to the policy term.
- The risk coverage under this plan will start from the date of issue of the policy. The premium for the plan can be paid yearly, half-yearly, quarterly or monthly. However, only NACH mode will provide monthly premium payment.
LIC Aadhaar Pillar Plan Death Benefit
In case of accidental death of the insured policyholder before the end of the term of this plan, then his nominee will be entitled for the benefit. This benefit will help to meet the future needs of the family, provided all due premiums have been paid. Sum Assured on Death and Loyalty Addition (if any) will be paid if the policyholder passes away before the cover is effective for five years. then the death benefit proposed shall not be less than 105 percent of the total amount of premiums paid till the date of death.
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Maturity Benefits of LIC Aadhaar Pillar
If the policyholder survives the policy term and has paid all due premiums, they will be entitled to the maturity benefit or the ‘Sum Assured on Maturity’ plus any loyalty benefits. Basic Sum Assured will be equal to “Sum Assured on Maturity”.
Understand LIC Aadhaar Pillar like this
- For example, suppose a person is 35 years old and wants to invest in LIC Aadhaar Stambh scheme. He decides to invest a premium of Rs 10,000 per year for a policy term of 15 years. So the sum assured for this plan is Rs.2,00,000.
- If the individual pays all due premiums and survives the policy term, they will be entitled to a maturity benefit of Rs. 2,00,000 plus any loyalty additions.
- In the event of accidental death of the individual during the policy term, his nominee will be entitled to a death benefit of Sum Assured on Death, which is Rs.2,00,000 plus any Loyalty Additions (if any).
- It is important to note that this is only an example and the actual premium amount and sum assured will vary depending on the age of the individual, policy term and other factors.
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