TomorrowMakers

LIC has come up with the LIC Aadhaar Shila plan. LIC Aadhaar Shila plan is an investment every woman should look out for!

LIC Aadhaar Shila

With a choice of multiple investments in the financial market, people are always looking for less risk and huge profits. One such opportunity to earn profits without risking a large sum is the LIC Aaadhar Shila plan. LIC Aadhaar Shila plan is an investment for women looking to secure their future without sacrificing their present needs. A mere sum of Rs 29 to be paid daily under this plan can lead to a return of Rs 4 lakhs.

Also Read: Learn about endowment plan (LIC Aadhaar Shila plan)

LIC Aadhar Shila plan: Key attributes

To invest in the LIC Aadhar Shila plan, an investor must understand all the features of the scheme. Let us take a look at the key attributes of the LIC Aadhar Shila Plan:

  1. The minimum age for investing in this plan is 8 years, while the maximum is 55 years.
  2. A person can choose between two policy terms i.e. 10 years & 20 years.
  3. The maturity age for this scheme is 70 years.
  4. A person can assure a sum of Rs 75,000 to Rs 3,00,000 under this plan.
  5. The premium can be paid; Yearly, Half-yearly, Quarterly & Monthly.
  6. The returns received by the investor will depend upon the sum assured and the policy term.

Investing in the policy can lead to the following returns: 

​​​​​​​Investing in the policy can lead to the following returns

The premiums to be paid can be calculated by using the LIC premium calculator on the official website. As it is a life savings plan it takes into numerous factors while calculating the premium and the return.

Also Read: Its time for Women to start investing!

LIC Aadhaar Shila plan: Benefits

An investor can derive various benefits from the scheme. These benefits can secure the future of the investors and their families. The key benefits of this scheme are:

  • Loan facility

The investor can avail a loan facility under this scheme. If the investor needs to take a loan, they can efficiently utilize a part of their investment as a loan. This facility can only be availed after 3 years from the purchase date of the policy.

  • Death Benefit

In case of the investor's untimely death, the plan's benefits will go to their family. This benefit can be 7 times the annual premium or 110 percent of the sum assured. 

  • Loyalty additions

Loyalty addition is an additional profit that the investor receives once the plan matures. This profit is an addition to the sum received after the plan matures.

  • Surrender benefit

If the investor has to surrender the plan due to financial issues, a guaranteed sum will be paid back to the investor. Depending upon the policy term and sum assured, this amount may vary but will have an assured rate of interest. 

  • Tax benefits

An investor can avail of tax benefits from the premiums paid under this scheme. 

  • Free look period

The investor can cancel the plan and get a full refund from LIC within 15 days of investing in the plan. This time allows the investors to get their money back in case they change their minds. 

Also Read: Supporting your long-term goals with life insurance

LIC Aadhaar Shila Plan: Exclusions

There are certain exclusions mentioned within the policy which must be understood for the investor to make a clear choice. These exclusions are:

  1. The plan does not cover any critical illness of the investor and will not provide any related benefits.
  2. The plan, if lapsed, cannot be revived after 2 years of the date from which the premium was not paid.
  3. In case the investor commits suicide during the policy tenure, the family can claim only 80 percent of the sum assured. 

Final Words

LIC Aadhaar Shila plan is a step forward toward the growth and empowerment of women. This policy allows them to convert their small savings into huge returns, which can secure their future. Low-risk and guaranteed returns make this plan an invaluable investment for women!

Disclaimer: This article is intended for general information purposes only and should not be construed as investment or legal advice. You should separately obtain independent advice when making decisions in these areas.

With a choice of multiple investments in the financial market, people are always looking for less risk and huge profits. One such opportunity to earn profits without risking a large sum is the LIC Aaadhar Shila plan. LIC Aadhaar Shila plan is an investment for women looking to secure their future without sacrificing their present needs. A mere sum of Rs 29 to be paid daily under this plan can lead to a return of Rs 4 lakhs.

Also Read: Learn about endowment plan (LIC Aadhaar Shila plan)

LIC Aadhar Shila plan: Key attributes

To invest in the LIC Aadhar Shila plan, an investor must understand all the features of the scheme. Let us take a look at the key attributes of the LIC Aadhar Shila Plan:

  1. The minimum age for investing in this plan is 8 years, while the maximum is 55 years.
  2. A person can choose between two policy terms i.e. 10 years & 20 years.
  3. The maturity age for this scheme is 70 years.
  4. A person can assure a sum of Rs 75,000 to Rs 3,00,000 under this plan.
  5. The premium can be paid; Yearly, Half-yearly, Quarterly & Monthly.
  6. The returns received by the investor will depend upon the sum assured and the policy term.

Investing in the policy can lead to the following returns: 

​​​​​​​Investing in the policy can lead to the following returns

The premiums to be paid can be calculated by using the LIC premium calculator on the official website. As it is a life savings plan it takes into numerous factors while calculating the premium and the return.

Also Read: Its time for Women to start investing!

LIC Aadhaar Shila plan: Benefits

An investor can derive various benefits from the scheme. These benefits can secure the future of the investors and their families. The key benefits of this scheme are:

  • Loan facility

The investor can avail a loan facility under this scheme. If the investor needs to take a loan, they can efficiently utilize a part of their investment as a loan. This facility can only be availed after 3 years from the purchase date of the policy.

  • Death Benefit

In case of the investor's untimely death, the plan's benefits will go to their family. This benefit can be 7 times the annual premium or 110 percent of the sum assured. 

  • Loyalty additions

Loyalty addition is an additional profit that the investor receives once the plan matures. This profit is an addition to the sum received after the plan matures.

  • Surrender benefit

If the investor has to surrender the plan due to financial issues, a guaranteed sum will be paid back to the investor. Depending upon the policy term and sum assured, this amount may vary but will have an assured rate of interest. 

  • Tax benefits

An investor can avail of tax benefits from the premiums paid under this scheme. 

  • Free look period

The investor can cancel the plan and get a full refund from LIC within 15 days of investing in the plan. This time allows the investors to get their money back in case they change their minds. 

Also Read: Supporting your long-term goals with life insurance

LIC Aadhaar Shila Plan: Exclusions

There are certain exclusions mentioned within the policy which must be understood for the investor to make a clear choice. These exclusions are:

  1. The plan does not cover any critical illness of the investor and will not provide any related benefits.
  2. The plan, if lapsed, cannot be revived after 2 years of the date from which the premium was not paid.
  3. In case the investor commits suicide during the policy tenure, the family can claim only 80 percent of the sum assured. 

Final Words

LIC Aadhaar Shila plan is a step forward toward the growth and empowerment of women. This policy allows them to convert their small savings into huge returns, which can secure their future. Low-risk and guaranteed returns make this plan an invaluable investment for women!

Disclaimer: This article is intended for general information purposes only and should not be construed as investment or legal advice. You should separately obtain independent advice when making decisions in these areas.