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Discover the benefits of LIC Aadhaar Stambh, a savings life insurance plan designed for male policyholders, offering financial protection and growth.
As your friendly neighborhood LIC agent in Kolkata, I’m excited to introduce you to LIC Aadhaar Stambh – a fantastic savings life insurance plan that’s tailor-made for the modern Indian man. Whether you’re just starting your career or planning for your family’s future, this plan offers a perfect blend of protection and savings. Let’s dive in and explore how LIC Aadhaar Stambh can secure your financial future!
Table of Contents
Key Takeaways
- LIC Aadhaar Stambh is a male-specific savings life insurance plan
- It offers both protection and savings benefits
- Policy terms range from 10 to 20 years
- Loyalty Additions can boost your returns
- Regular premium payments are crucial for uninterrupted benefits
- Starting early can help you secure lower premiums
What is LIC Aadhaar Stambh?
LIC Aadhaar Stambh is a non-linked, participating, individual savings life insurance plan designed exclusively for male lives. It’s like having a safety net and a piggy bank rolled into one! This plan provides financial support for your family if something unfortunate happens to you, and a lump sum amount at maturity if you outlive the policy term.
Key Features:
- Exclusively for Men: Tailored to meet the unique needs of male policyholders
- Dual Benefits: Combines life cover with savings
- Flexibility: Choose policy terms from 10 to 20 years
- Loyalty Additions: Potential for enhanced returns
- Loan Facility: Access to policy loans for financial emergencies
Why Choose LIC Aadhaar Stambh?
- Financial Security: Provides a safety net for your family
- Savings Discipline: Encourages regular savings through premium payments
- Tax Benefits: Offers potential tax advantages under existing tax laws
- Customizable: Various policy terms to suit your financial goals
- Trusted Brand: Backed by LIC, India’s largest life insurer
Understanding the Benefits
Death Benefit
If the unfortunate happens during the policy term, your family receives:
- First 5 Years: Sum Assured on Death
- After 5 Years: Sum Assured on Death + Loyalty Addition (if any)
“Sum Assured on Death is the higher of 7 times the annualized premium or 100% of Basic Sum Assured.”
Maturity Benefit
If you survive the policy term, you get:
- Sum Assured on Maturity
- Loyalty Addition (if any)
Loyalty Addition
After paying premiums for at least 5 years, you become eligible for Loyalty Additions. These are extra bonuses declared by LIC based on their financial performance.
How to Choose Your Policy Term
Selecting the right policy term is crucial. Here’s a simple guide:
| Your Current Age | Recommended Policy Term |
|---|---|
| 25-35 | 20 years |
| 36-45 | 15 years |
| 46-55 | 10 years |
Note: This is a general recommendation. Your specific needs may vary.
Premium Payment Options
LIC Aadhaar Stambh offers flexible premium payment modes:
- Yearly
- Half-yearly
- Quarterly
- Monthly (through NACH)
- Salary deduction
Pro Tip: Opt for yearly payments to enjoy a 2% rebate on the tabular premium!
Making the Most of Your Policy
- Start Early: The younger you are, the lower your premiums
- Choose the Right Sum Assured: Aim for at least 10-15 times your annual income
- Stay Consistent: Regular premium payments ensure uninterrupted coverage
- Review Periodically: Reassess your coverage as your life circumstances change
Real-Life Scenario
Let’s look at an example:
Rahul, a 35-year-old software engineer, opts for LIC Aadhaar Stambh with a Sum Assured of ₹5,00,000 for a 20-year term. His annual premium is approximately ₹19,380 (excluding taxes).
- If Rahul survives the policy term, he receives ₹5,00,000 plus any Loyalty Additions at maturity.
- If something unfortunate happens to Rahul in the 12th year, his family receives ₹5,00,000 plus any applicable Loyalty Additions.
This ensures Rahul’s family is protected, and he has a substantial savings corpus if he survives the policy term.
As your dedicated LIC agent in Kolkata, I’m here to help you navigate the world of life insurance. LIC Aadhaar Stambh is just one of the many excellent plans LIC offers. Every individual’s needs are unique, and I’m committed to finding the perfect fit for you.
Remember, life insurance is not just a financial product; it’s a promise of security and peace of mind for you and your loved ones. So why wait? Let’s secure your future today!
Are you ready to take the next step? Have more questions? I’m just a phone call away. Reach out to me, Somenath Naskar, your trusted LIC agent in Kolkata, at 7980031260. Let’s work together to build a secure financial future for you and your family!
FAQs
Can I increase my Sum Assured later?
No, the Sum Assured is fixed at the time of policy purchase. However, you can consider buying additional policies if needed.
What happens if I miss a premium payment?
There’s a grace period of 30 days for yearly/half-yearly/quarterly modes and 15 days for monthly mode. If you don’t pay within this period, the policy lapses.
Can I surrender my policy?
Yes, you can surrender after paying premiums for at least two consecutive years. However, it’s advisable to continue the policy for the full term to maximize benefits.
Is medical examination required?
It depends on your age, sum assured, and answers to health questions. In many cases, especially for younger ages and lower sum assured, medical tests may not be required.
How do I revive a lapsed policy?
You can revive a lapsed policy within 5 years from the first unpaid premium date by paying all due premiums with interest.
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