In today’s time, many types of small savings schemes are operated by LIC to provide the benefit of security and savings for the future to the people. LIC Aadhar Shila Yojana has been launched by Life Insurance Corporation of India to provide the benefit of financial security and savings on investment to women through one such scheme. LIC Aadhar Shila Plan Through this, women are also provided with the benefit of premium, maturity, death claim, tax exemption along with the benefit of better and guaranteed returns on investing in the policy purchased for a specified period.
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Launched by Life Insurance Corporation of India LIC Aadhaar Shila Plan What is it, what benefit will be provided to the beneficiary on purchasing it and what are the necessary documents and eligibility the applicant will have to fulfill for the application, you will be able to know through our article.
What is LIC Aadhar Shila Scheme?
lic aadhar shila plan One of a kind Non Linked Participatory Endowment Plan scheme launched by Life Insurance Corporation of India. under which 8 years to 55 years Women up to the age of UIDAI having Aadhaar Card issued by UIDAI will be considered eligible to purchase the policy. In which women have to pay the policy on the basis of premium on monthly, quarterly, half-monthly or yearly basis. After which the policyholder is paid a lump sum installment after the maturity period is over. Many benefits are given to women in Aadhar Shila Yojana, like in this policy, women can buy a plan from minimum Rs 75,000 to a maximum of Rs 3 lakh, the special feature of this scheme is that the policy holder without any medical test. You can get the benefits of the policy.
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Overview of LIC Aadhaar Shila Plan
|scheme name||lic aadhar shila plan|
|initiated||by Life Insurance Corporation of India|
|application medium||both online/offline|
|beneficiaries of the scheme||country women|
|purpose||Providing security and savings benefits to women|
|maturity period||Minimum 10 years Maximum 20 years|
Features of LIC Aadhar Shila Plan
Aadhar Shila Policy To take advantage of it, it has some salient features like
- Under this policy, the women of the country will get the benefit of security and savings for the future.
- If the women buy and invest in the policy for a specified period, then on the completion of the maturity period of the policy, they will be provided the benefit of better and guaranteed returns.
- LIC Aadhaar Shila Plan To purchase the policy under 8 to 55 years women can apply.
- Policy holders can buy the policy for a minimum tenure of 10 years or maximum 20 years.
- Under the Aadhar Shila Plan scheme, a lump sum installment amount is paid to the policyholder after the maturity period of the policy.
- Under the scheme, the policy holder will also be able to get the benefit of tax benefits, free look period, grace period and loyalty addition facility.
- Along with savings, the policyholder is also given the benefit of life cover.
- No rider for critical illnesses is covered under the plan.
- Accident Benefit Rider is available for the scriber under LIC Aadhar Shila Yojana.
- Under the plan, if the policyholder dies before the maturity period of the policy, then his family is provided assistance.
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Benefits and Features of LIC Aadhar Shila Plan
LIC Aadhar Shila Plan Scheme Under this policy, the benefit of many facilities is provided to the policyholders, whose information is as follows.
- free look period Free Look Period is the period during which the policy holder after the purchase of the policy of the plan, if he is not satisfied with the terms and conditions thereof, can leave the policy within that stipulated period, after the purchase of the policy under the Aadhar Shila plan. If the policy holder wants to cancel it, he can 15 days policy, after which any investment made by him in the policy will be refunded.
- Tax exemption benefits To the policy holder under the plan Section 80 of the Income Tax Act The premium deposited under tax free, Section 10 (10 D) Maturity amount is tax free as well as no tax will be applicable on death claim.
- grace period- under the policy monthly premium in payment status grace period 15 days and grace period in case of premium payment for quarterly, half yearly and annual terms 30 day is of
- Loan facility – Under this policy, the facility of loan against the policy is also provided to the beneficiary after paying the premium continuously for a period of three years. The benefit of loan under the scheme is provided on the basis of the terms and conditions of the policy, up to 90% of the support value for inforce policies and and up to 80% of the support value for tree up policies will be provided.
- Surrender Value – Under the plan, if the policyholder surrenders the policy before the premium payment for three years from the date of purchase of the policy, then the benefit of surrender value will not be given to them.
- Death Benefit If the policyholder dies within a period of five years from the date of purchase of the policy, the death benefit will be provided to their family, but if the death occurs before the maturity period of the policy, the death benefit will be given to the policyholder’s nominee. On the death of the policyholder, 10 times the Sum Assured for one year or 110% of the Basic Sum Assured will be given, in addition to the benefit of loyalty addition if the policyholder dies after five years of buying the policy.
- Exclusion – Under the plan, if the policyholder commits suicide during one year from the date of purchase of the policy, then only the premium will be paid to the family of the policyholder. 80% amount or surrender value will be provided.
- Maturity Benefit – If premiums have been paid regularly by the policyholder on completion of the maturity period of the policy, then on maturity, the applicant will be given the Sum Assured along with the Loyalty Addition.
Other available options under the plan
- Settlement Benefit for Maturity Benefit – Under the plan, the policyholder is given the option to receive the maturity amount for a period of 5, 10 or even 15 years in lieu of a lump sum amount on the completion of the maturity period under the Settlement, under which the policyholder is at his convenience. One can choose the period for availing the maturity amount.
- Rider Benefit – Under the plan, the policyholder is also given the option of rider benefit, in which if the policyholder dies suddenly, on opting for this option, in such a situation, they will be provided with the accidental sum assured, which will ensure the rider benefits basic. cannot exceed the amount.
- Option to take Death Benefit at Installment – Under this policy, the policyholder can get the death benefit over a period of 5, 10 or 15 years instead of taking the lump sum death benefit, which the policyholder can choose at the time of purchase of the policy.
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Aadhar Shila Yojana Rebate
|annual mode||2% of tabular premium|
|half-monthly mode||1% of tabular premium|
|Quarterly, Monthly and Salary Deduction||Nil|
Higher Basic Shoe Assured Rebate
|Basic Sum Assured||rebate|
|200000-290000||1.50% of BSA|
|320000||2.00% of BSA|
Purpose of LIC Aadhar Shila Plan
Life Insurance Corporation of India The main objective of starting this scheme is to provide the benefit of financial security to the women, under which LIC Provides them the benefit of better and guaranteed returns on small investments by paying premiums for a stipulated period. Along with this, the policyholder has also been given the benefit of loan facility, maturity benefit, loyalty addition etc.
Eligibility of LIC Aadhar Shila Plan
LIC Aadhar Shila Plan To apply for this, the applicant is required to fulfill its prescribed eligibility, only those applicants who fulfill it will be able to get the benefit of the scheme.
- Application in LIC Aadhar Shila Plan Only women permanent residents of India will be considered eligible to apply.
- For investment in this scheme, only the applicant women of 8 years to 55 years will be eligible.
- The applicant should not be more than 70 years of age at the time of maturity under LIC Aadhar Shila Plan.
- The applicant will not need any kind of medical checkup to get the benefit of the scheme.
Documents of LIC Aadhaar Shila Plan
For applying in the scheme, the applicant is required to have all the important documents, whose information is as follows.
- applicant’s aadhar card
- Identity Card (Voter ID, Driving License)
- Address proof
- Ration card
- salary slip
- income tax return
- electricity bill
- mobile number
- passport size photo
LIC Aadhar Shila Policy Scheme Application Process
To get the benefit of this scheme, the women who want to apply in the scheme, they will be able to apply in the scheme by reading the procedure mentioned here.
- the applicant first Life Insurance Corporation of India Of official website Must visit.
- Now the home page will open on your screen, here you have to Aadhar Shila Policy Scheme You have to click on the option.
- After which the application form of the scheme will open in front of you on the next page.
- Here you have to fill all the information asked in the form carefully.
- Now you have to submit the scanned copy of all the documents asked in the form along with the form.
- In this way the process of application in your scheme will be completed.
LIC Policy Status: Check this way
LIC Aadhar Shila Yojana is a non-linked participatory endowment plan scheme launched by Life Insurance Corporation of India, through which women will be able to get the benefit of protection and savings by paying premiums for a specified period with low investment.
Under the scheme, only the women of 8 to 55 years of the country who have their Aadhar card will be able to purchase the policy.
Policyholder under Aadhar Shila Scheme Benefits of premium, maturity, death claim, tax exemption etc. are also provided.
The maturity period of the scheme has been kept minimum 10 years and maximum 20 years
The process of applying under the Aadhar Shila Policy Scheme has been provided through the above article, after which the applicant will be able to apply in the scheme.
LIC Aadhar Shila Policy Plan We have provided you all the information related to this article through our article and we hope that this information will be very useful for you, for this, if you like our article or have any questions related to it, then you can leave your comment in the comment box below. You can ask questions, we will do our best to answer your questions.
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