LIC: Aadharshila was launched last year. This is a non-linked, participating, individual, life assurance plan.
LIC: If women are thinking of taking an insurance policy for themselves, then we have brought special information for you.
Life Insurance Corporation of India (LIC) has prepared the foundation policy keeping women in mind. It has many good features.
Was launched last year
The foundation stone of LIC was launched on 1st February 2020 and this scheme is becoming increasingly popular. This is a non-linked, participating, individual, life assurance plan.
Along with life cover, the policyholder also gets a savings option in this plan. With an average daily investment of just Rs 29, you can get Rs 4 lakh on maturity.
Minors can also take the policy
Minors can also take this policy. Any woman whose age is from 8 years to 55 years is eligible for this. It can also be bought for a term of 10 years. Its maximum term is 20 years. The maximum age of maturity is 70 years.
Minimum Sum Assured Rs 75,000
The minimum sum assured in this policy is Rs 75,000 and the maximum limit is Rs 30 lakh. The policyholder also has the option of Accident Benefit Rider.
This will be the premium
If a woman takes this policy at the age of 20 with a term of 20 years and gets a basic sum assured of Rs 3 lakh, then she will have to pay Rs 10,649 as annual premium in the first year.
This amount works out to Rs 887 per month. That is, you have to pay only Rs 29.58 every day.
But, from the second year onwards, the annual premium of the policy comes down to Rs 10,419 which works out to around Rs 28.94 per day.
Maturity benefit
At the time of maturity, you get around Rs 4 lakh. Out of this, there is a sum assured of Rs 2 lakh and the outstanding loyalty bonus.
Option to pay premium
The premium for LIC’s Aadharshila policy can be paid on a monthly, quarterly, half-yearly or yearly basis.
If you miss the premium payment, you get a grace period of 30 days. If you pay the premium monthly, you get a grace period of 15 days.
Family gets loyalty bonus
Sum Assured is paid if the Life Assured dies within five years from the commencement of the policy. If death occurs after five years, the family gets the sum assured and loyalty bonus.
