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A comprehensive guide to LIC’s innovative savings plan tailored for women, offering protection and wealth creation.
As a seasoned LIC Agent in Kolkata, I’ve seen firsthand how the right insurance policy can transform lives. Today, I’m excited to share insights about one of LIC’s most innovative offerings – the Aadhaar Shila plan. This unique policy is designed specifically for women, combining financial protection with savings in a way that addresses the unique needs and aspirations of Indian women.
Table of Contents
Key Takeaways
- LIC Aadhaar Shila is a women-centric life insurance plan offering both protection and savings.
- It provides death benefits, maturity benefits, and loyalty additions for enhanced returns.
- The policy is flexible with terms ranging from 10 to 20 years and sum assured from ₹2,00,000 to ₹5,00,000.
- Additional options like riders and settlement options make it customizable to individual needs.
- As your LIC Agent in Kolkata, I’m here to provide personalized guidance and support throughout your policy journey.
What is LIC Aadhaar Shila?
LIC Aadhaar Shila is a non-linked, participating, individual savings life insurance plan created exclusively for women. It offers a perfect blend of protection and wealth creation, making it an ideal choice for women looking to secure their financial future.
Key Features:
- Exclusive for Women: Tailored to address the specific financial needs of women
- Combination of Protection and Savings: Provides life cover and helps in wealth accumulation
- Loyalty Additions: Boosts your returns with loyalty additions after 5 policy years
- Flexible Policy Terms: Choose from 10 to 20 years to suit your financial goals
- Tax Benefits: Enjoy tax advantages under Section 80C and 10(10D) of the Income Tax Act
Why Choose LIC Aadhaar Shila?
- Financial Independence: Empowers women to take control of their financial future
- Customizable: Flexible options to align with different life stages and goals
- Affordable Premiums: Accessible to women from various income groups
- Death Benefit: Provides financial security to the family in case of unfortunate events
- Maturity Benefit: Lump sum amount at maturity for future needs or aspirations
Benefits in Detail
Death Benefit
If the policyholder passes away during the policy term:
- Within first 5 years: “Sum Assured on Death” is payable
- After 5 years: “Sum Assured on Death” plus Loyalty Addition (if any) is payable
“Sum Assured on Death” is the higher of:
- 7 times the annualized premium
- 110% of Basic Sum Assured
Maturity Benefit
On surviving the policy term:
- “Sum Assured on Maturity” (equal to Basic Sum Assured)
- Loyalty Addition (if any)
Loyalty Addition
After completing 5 policy years and paying at least 5 full years’ premiums, policies become eligible for Loyalty Addition. This is paid:
- At the time of death (if it occurs after 5 policy years)
- At maturity
- On surrender (if at least 5 full years’ premiums are paid)
Eligibility and Terms
| Criteria | Details |
|---|---|
| Minimum Age at Entry | 8 years (completed) |
| Maximum Age at Entry | 55 years (nearest birthday) |
| Policy Term | 10 to 20 years |
| Premium Paying Term | Same as Policy Term |
| Minimum Basic Sum Assured | ₹2,00,000 |
| Maximum Basic Sum Assured | ₹5,00,000 |
Additional Options
- Rider Benefits: Option to add LIC’s Accident Benefit Rider for enhanced protection
- Settlement Option: Receive maturity benefit in installments over 5 years
- Death Benefit in Installments: Option to receive death benefit in installments over 5, 10, or 15 years
Why Choose Me as Your LIC Agent in Kolkata?
As an experienced LIC Agent in Kolkata, I offer:
- Personalized Guidance: I take the time to understand your unique financial goals and recommend the best plan for you.
- Prompt Service: Quick responses to your queries and efficient processing of your policy.
- Ongoing Support: I’m here to assist you throughout the policy term, from purchase to claims.
- Expert Advice: With years of experience, I can provide insights into maximizing your policy benefits.
How to Get Started
Ready to secure your financial future with LIC Aadhaar Shila? Here’s how:
- Contact Me: Call me directly at 7980031260
- Free Consultation: Let’s discuss your financial goals and how Aadhaar Shila fits in
- Customized Plan: I’ll help you choose the right sum assured and policy term
- Easy Application: I’ll guide you through the application process, making it hassle-free
- Policy Issuance: Once approved, you’ll receive your policy document
Investing in your financial security is one of the most important decisions you’ll make. With LIC Aadhaar Shila, you’re not just buying an insurance policy; you’re investing in peace of mind and a secure future for yourself and your loved ones.
Ready to take the next step? Give me a call at 7980031260, and let’s work together to secure your financial future with LIC Aadhaar Shila!
FAQs
Can I surrender my LIC Aadhaar Shila policy?
Yes, you can surrender the policy after paying premiums for at least two consecutive years. The surrender value will be the higher of the Guaranteed Surrender Value and Special Surrender Value.
Is there a loan facility available with this policy?
Yes, you can avail a loan against your policy after paying premiums for at least two full years, subject to terms and conditions.
What happens if I miss a premium payment?
There’s a grace period of 30 days for yearly, half-yearly, or quarterly premium modes, and 15 days for monthly mode. If the premium isn’t paid within this period, the policy lapses.
Can I revive a lapsed policy?
Yes, you can revive a lapsed policy within 5 years from the date of first unpaid premium, subject to certain conditions and payment of due premiums with interest.
Are there any tax benefits with LIC Aadhaar Shila?
Yes, premiums paid are eligible for tax deduction under Section 80C, and maturity benefits are tax-free under Section 10(10D) of the Income Tax Act, subject to prevailing tax laws.
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