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LICs New "Aadhaar Shila" Plan: A Unique Blend of Savings and Security
Posted on: 04/Sep/2023 11:28:58 AM
LIC (Life Insurance Corporation of India) has introduced the "LIC Aadhaar Shila" plan, offering a distinctive solution that combines savings and insurance. This endowment plan provides life insurance and investment benefits.
Key Features:
- Maturity Benefits: Lump-sum payout at policy maturity.
- Financial Protection: Family support in case of the policyholder`s demise.
- Surrender Option: Flexibility to surrender the policy under certain conditions.
- Loyalty Additions: Accrual of loyalty additions for enhanced savings.
- Loan Facility: Access to loans based on policy value.
- Tax Benefits: Avail tax benefits as per applicable laws.
- Premium Flexibility: Convenient premium payment options.
Eligibility:
Open to women aged 8 to 55, with a maximum maturity age of 70. Policy matures in 10 to 20 years.
Illustrative Scenario:
Investing Rs 87 per day from ages 15 to 25 accumulates Rs 3,17,550 in ten years. At age 70, the policy matures, yielding an estimated total payout of around Rs 11 lakhs.
The LIC Aadhaar Shila plan offers a flexible and advantageous savings and insurance solution, emphasizing financial security for policyholders and their families.
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