LIC's Aadhaar Shila plan is a non-linked, with profits, regular premium paying endowment assurance plan. Offering a combination of protection and savings. This plan is exclusively designed for Male lives having Aadhaar Card issued by UIDAI (Unique Identification Authority of India).This plan shall only be available for standard healthy lives without any medical examination.
|Minimum Age at Entry||8 Years (Completed)|
|Maximum Age at Entry||55 Years(Nearest Birthday)|
|Maximum Maturity Age||70 Years(Nearest Birthday)|
|Policy Term||10 Years to 20 Years|
|Premium Paying Term(PPT)||Policy Term -3 Years|
|Maximum Sum Assured||75000/-|
|Maximum Sum Assured||300000/-|
|Policy Mode||Yearly, Half-Yearly, Quaterly, Monthly (NACH only)
|Rebate Of Mode Of Premium||Yearly-2%
Quaterly & Monthly-Nil
|High Sum Assured Rebate||75,000 to 1,90,000 - Nil
2,00,000 to 2,90,000 - 2% on B.S.A.
3,00,000 - 3% on B.S.A
|Loan||After payment of premiums for at least 3 full years|
|Surrender||Allowed after 3 year|
|Revival||Within 2 Years of lapse|
On the death of the Life Insured during first five years: “Sum Assured on Death” shall be payable.
On the death of the Life Insured after completion of five policy years but before the date of maturity: “Sum Assured on Death” and Loyalty Addition, if any, shall be payable.
Where “Sum Assured on Death” is defined as the highest of 10 times of annualized premium, or Sum Assured on Maturity as defined in 1. b) below; or Absolute amount assured to be paid on death, i.e. 110% of Basic Sum Assured. The death benefit shall not be less than 105% of all the premiums paid as on date of death.
On the life assured surviving to the end of the policy term, provided all due premiums have been paid,