LIC Aadhaar Stambh vs LIC Aadhaar Shila: The Ultimate Guide to Aadhaar-based Plans

LIC Aadhaar Stambh vs LIC Aadhaar Shila:  The Life Insurance Corporation of India offers two endowment assurance plans to Aadhaar cardholders that provide both investment potential and insurance protection. These plans provide protection for the insured’s life and help them create a corpus during the policy’s duration. LIC offers two distinct programmes tailored to men and women separately. The LIC Aadhaar Stambh is intended for males, whereas the LIC Aadhaar Shila is only available to women.

The two endowment plans also provide a lump-sum return at the time of maturity to the surviving policyholder or financial support for the family in the event of the unfortunate mortality of the policyholder during the coverage period.

LIC Aadhaar Stambh versus LIC Aadhaar Shila: insured amount, entry age, minimum term, and maximum age

The Aadhar Stambh savings plan from LIC is a non-linked, participating, individual life insurance savings plan that is only available to male applicants. This also provides financial protection to the family in the event of the policyholder’s demise.

The LIC Aadhaar Shila plan provides financial assistance to the policyholder’s family in the event of his or her demise before the policy’s maturity. This policy, however, is only available to women.

Moreover, both plans address liquidity needs by providing a lending facility, as the policyholder can borrow against the insurance plan.

Under both programmes, the minimum age to enrol is 8 and the maximum age to enrol is 55. There is a maximal maturity age of 70 years. Both programmes include two policy terms of 10 years and 20 years.

Under both plans, the minimum sum assured is 75,000 rupees and the utmost sum assured is 3,000 rupees. Optional premium payment schedules for policyholders include quarterly, semiannual, and annual.

The Loyalty Additions are available to policyholders who have paid their premiums for the first five years.

Link your PAN and Aadhaar by June 30: Simple Steps to Help You Out

Maturity and mortality benefit

The total sum assured and the loyalty additions are included in the maturity benefit if the policyholder survives the policy’s term.

The LIC Aadhaar Shila plan provides a mortality benefit equal to 110 percent of the Basic Sum Assured if the policyholder dies within the first five years of the policy’s inception. The death benefit will include 110% of the basic sum assured and loyalty additions if the insured dies after five years but before policy maturity.

100% of the sum assured will be paid out as a burial benefit if the insured dies during the first five years of the policy. In the event of the life insured’s mortality five years after the policy’s purchase, the loyalty additions will be paid in addition to the full sum insured.