LIC Aadhar Shila Plan 2021
As you all know, different types of insurance plans are operated by the Life Insurance Corporation of India. Through which benefits ranging from life insurance to health insurance are provided to the citizens. Recently LIC Aadhar Shila Yojana has been launched by the Life Insurance Corporation of India. Security and savings will be provided to the customers through this scheme. Through this article, complete information related to the Aadhar Shila plan will be provided.
By reading this article, you will be made aware of the procedure to avail the benefits of the LIC Aadhar Shila Scheme. Apart from this, you will also be able to get information related to Aadhar Shila Yojana LIC’s purpose, benefits, features, eligibility, important documents, interest rate, etc. So please read this article till the end to get the complete details of LIC Aadhaar Shila Plan 2021.
Lic Aadhaar Shila Premium Calculator
Lic Aadhaar Shila Premium Calculator has been launched by the Life Insurance Corporation of India. This plan is a non-linked participant endowment plan through which it is designed to increase savings and financial security in case of an emergency.
Under this plan, the policyholder will have to pay the premium in monthly, quarterly, half-yearly, or yearly terms. After the end of the policy term, a lump sum amount is paid to the policyholder. All those women whose age is between 8 to 55 years are eligible to get the benefit of this scheme. Apart from this, it is mandatory to have a valid Aadhar card to get benefits from this scheme.
Under LIC Aadhar Shila Plan 2021 Premium Calculator, if the policyholder dies, then in this situation financial assistance is also provided to the family of the policyholder. The policyholder is also not required to undergo any kind of medical test to take this plan. Under LIC Aadhar Shila Yojana, the minimum Basic Sum Assured is ₹ 75000 and the maximum Basic Sum Assured is Rs 300000.
Highlights Key Of LIC Aadhar Shila Plan 2021
|01||Scheme name||LIC Aadhar Shila plan|
|02||who started||Life Insurance Corporation of India|
|04||Objective||Providing financial security.|
|06||Application Type||Online / Offline|
|07||Minimum term||10 Years|
|08||Maximum duration||20 Years|
|09||Maximum age at maturity||70 Years|
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The objective of LIC Aadhar Shila premium chart
The main objective of Aadhar Shila Yojana is to provide economic security and savings opportunities to the women of the country. This plan is a non-linked participant enjoyment plan through which it has been designed to increase savings and financial security in case of emergency. This plan provides financial security to the policyholders.
Apart from this, the policyholder can also get a loan if needed through LIC Aadhar Shila Yojana. The women of the country can get various benefits by investing in this scheme. In case the policyholder has paid all the premiums for the entire policy term, then the policyholder gets the Sum Assured along with the Loyalty Addition.
Key Facts of LIC Aadhar Shila Plan 2021
- LIC Aadhaar Shila Yojana has been specially designed for women.
- A tax exemption facility is also provided on premiums, maturity claims, and death claims through this plan.
- Premium can be paid monthly, quarterly, half-yearly, or annually.
- The minimum policy term is 10 years and the maximum is 20 years.
- The maximum age of maturity in the plan is 70 years.
- Accident Benefit Rider is also available under this plan for the subscriber.
- There is no rider covered for critical illnesses under this plan.
- Loyalty Addition on Maturity facility is also provided in case the policyholder dies after 5 years of taking the policy.
- If the policyholder dies before the end of the policy term, then the benefit of this plan is provided to the family of the policyholder.
- A lump sum amount is also provided at the end of the policy term.
Benefits of Aadhar Shila Yojana
- Tax Benefits – The premium paid under this scheme is exempt from tax under section 80C of the Income Tax Act. Section 10 (10D) maturity amount is also tax-free. Apart from this, no tax will be applicable on death claims also.
- Free Look Period – If the policyholder wants to cancel the policy after buying the policy, then the policy can be canceled within 15 days. After the cancellation of the policy, the premium, if any, deposited by the policyholder is also returned.
- Grace Period – The premium grace period is 30 days in the case of annual, half-yearly, and quarterly premium payment modes. The grace period is 15 days in case of monthly premium payment mode.
- Loan – A loan can also be taken against this policy after paying the premium continuously for 3 years.
- Surrender Value – If you surrender this policy before paying the premium for 3 years, then no surrender value will be paid to you.
- Death Benefit – If the policyholder dies within a period of 5 years from the date of purchase of the policy, the death benefit will be provided to the family of the policyholder. In case the policyholder dies before maturity, the death benefit will be provided to the nominee. The Sum Assured on Death will be 10 times the Annualized Premium or 110% of the Basic Sum Assured. If the policyholder dies after 5 years of buying the policy, then loyalty addition will also be provided to him.
- Maturity Benefit – If the policyholder has successfully paid all the premiums for the entire policy term, then the Sum Assured on Maturity will get the Loyalty Addition as well.
- Exclusion – In case the policyholder commits suicide during the first 12 months of policy purchase, only 80% of the premium or surrender value (whichever is less) will be paid to the policyholder.
Options Available Under LIC Aadhaar Shila online Yojana
Rider Benefit –
The rider benefit option is also available under this plan. If this option is chosen by the policyholder, then in case of accidental death, the accidental sum assured will be paid. This rider’s benefits cannot exceed the Basic Sum Assured.
Settlement option for maturity benefit –
Under the Settlement Option, the policyholder is provided with the option to receive maturity benefit over a period of 5 or 10, or 15 years instead of a lump sum amount. The tenure to receive maturity benefit can be selected by the policyholder at his/her convenience. The installments will be paid in advance at yearly or half yearly or quarterly or monthly intervals.
Option to take death benefit in installments
Under LIC Aadhaar Shila Yojana, instead of taking a lump sum death benefit, the death benefit can be obtained over a period of 5 or 10, or 15 years. This option can be exercised by the policyholder during his lifetime.
LIC Aadhaar Shila premium calculator and grace period / Aadhar Shila premium chart
The premium payment under this plan can be done at monthly, quarterly, yearly, or half-yearly intervals. A grace period of 30 days has been prescribed for paying premiums annually, half-yearly, and quarterly. A grace period of 15 days has been prescribed for monthly payments. If the premium is not paid by the policyholder before the completion of the grace period, the policy will terminate.
LIC Aadhaar Shila online Yojana Rebate
|01||Yearly Mode||2% of Tabular Premium|
|02||half yearly mode||1% of tabular premium|
|03||Quarterly Monthly and Salary Deduction||Nil|
Higher Basic Sum Assured Rebate
|Sl No.||Basic Sum Assured||Rebate|
|02||200000-290000||1.50% of BSA|
|03||300000||2.00% of BSA|
LIC Aadhar Shila Plan 2021 Loan
Loans against policy can also be availed by the policyholders on this plan. This loan is provided subject to the terms and conditions of the policy. The interest rates on the loan provided on the policy are determined from time to time. Loan up to 90% of the support price is provided for enforcing policies and up to 80% of the support price for paid-up policies. Any outstanding debt along with interest, if any, at the time of withdrawal is recovered.
LIC Aaadhar Shila yojana free look period
If the policyholder is not satisfied with the terms and conditions of the policy, then within a period of 15 days from the date of taking the policy, the policy may be returned giving reasons for objections. If this happens, the policy will be canceled by LIC and the premium deposited will be refunded to the policyholder less the proportionate risk premium.
LIC Aadhar Shila Plan 2021 Exclusion
- In case the policyholder commits suicide within 12 months from the date of commencement of risk, no claim shall be entertained by the Life Insurance Corporation of India. Only 80% amount of Priyam will be refunded in this situation.
- In case the Life Assured commits suicide within 12 months from the date of revival, 80% of the premiums paid up to the date of death or the Surrender Value available on the death penalty (whichever is higher) will be paid.
Eligibility of LIC Aadhar Shila Plan 2021
- All those women whose age is between 8 to 55 years are eligible to take advantage of this scheme.
- Only women can get benefit from this scheme.
- The minimum term of the policy is 10 years and the maximum term is 20 years.
- To get the benefit of this scheme, the applicant does not need to undergo any kind of medical checkup.
- The age of the policyholder should not be more than 70 years at the time of maturity.
important documents of LIC Aadhaar Shila premium calculator
- Aadhar card
- Voter ID Card
- passport size photograph
- driving license
- electricity bill
- Ration card
- Voter ID Card
- income tax return
- salary slip
- health record
Procedure to apply under LIC Aadhar Shila Yojana
- First of all, you have to go to the official website of LIC. Now the home page will open in front of you.
- On the home page, you have to click on the option of Aadharshila Scheme.
- Now the application form will open in front of you.
- You have to enter all the important information asked in the application form.
- Now you have to upload all the important documents.
- After that, you have to click on submit option.
- In this way, you will be able to apply under LIC Aadhar Shila Yojana.