LIC Aadhaar Stambh Plan

LIC Aadhaar Stambh Plan (843) Details

LIC Aadhaar Stambh plan (Table 843) with profit is a non-linked regular premium paying endowment assurance plan. This Policy will be Loyalty Addition (LA) based plan¬ exclusively designed for Male policy holders having Aadhaar Card (UIDAI). This plan will be available to standard healthy lives without any medical test requirement.

Key Features

  • Male Only Plan
  • Low Premium Plan
  • Auto Cover Facility
  • Paid premiums are exempted from income tax under 80C
  • Maturity amount is tax free under 10 (10D)

Plan Parameters

GenderMale Only
Age at Entry8 Years (Completed)
Maximum Age at Entry55 (Nearest Birthday)
Minimum Term10 Years
Maximum Term20 Years
Maximum Age at Maturity70 Years (Nearest Birthday)
Sum AssuredMinimum 75,000 and Maximum 3,00,000
Premium Paying ModeYearly, Half Yearly, Quarterly & Monthly (SSS and NACH Only)
Premium Payment Mode rebate2% on yearly, 1% on Half Yearly, Nil on Quarterly & Monthly

Maturity benefit

  • On survival of year term, Maturity will be¬ Basic Sum Assured¬†+¬ Loyalty Addition.

Death benefits

  • On death during¬ First Five Years¬†of the policy:
    • Death claim amount will be equal to Basic Sum Assured.
  • On death¬ after 5 years¬†of the policy and before maturity:
    • Death claim amount will be equal to Basic Sum Assured + Loyalty Addition(LA).

Please Note: It understandable that Loyalty Addition is applicable after successful completion of 5 Policy years.

Optional Accidental Benefit Rider

Policy holders above 18 years of age have option to opt for Accidental Benefit Rider with this plan, which will provide additional amount equal to basic sum assured in case of death caused due to accident.

LIC Aadhaar Stambh (843) with an Example

Let’s take an example of Aadhaar Stambh policy with following details

Sum Assured (Rs.)3,00,000
Age (Years)28
Policy Term(Years)20
Purchase Year2017
Yearly Premium (Rs.) (Without ST)10,443

So, as per above example, policy holder needs to pay the premium of Rs. 10,443 per year for 20 yearsand maturity will happen after completion of 20 years. The details of year-wise policy progress and maturity is exaplained below.

¬

Maturity Details

If Policy holder completes 20 years and pays all premium successfully, then Maturity will be as under.

Maturity YearAge at MaturityTotal Premium PaidMaturity Amount (Approx.)
2037482,08,8603,00,000 + Loyalty Addition

Death Claim Details

Following table provides policy year-wise and age-wise total premium paid and death claim details. In case of accidental death, additional amount equal to Sum Assured is also included in death claim amount.

How to Understand Following Table

Suppose if, unfortunate death of policy holder happens in year 2023 (at age 34), then by that time total premium paid will be Rs. 73,101 and nominee will get death claim as 3,00,000 + Loyalty Addition in case of normal death or Rs. 6,00,000 + Loyalty Addition as accidental death claim in case of death due to accident and policy will stop.

YearAgeTotal Paid PremiumNormal Life Cover (Approx.)Accidental Life Cover (Approx.)Return
20172810443300000600000
20182920886300000600000
20193031329300000600000
20203141772300000600000
20213252215300000600000
20223362658300000 + LA600000 + LA
20233473101300000 + LA600000 + LA
20243583544300000 + LA600000 + LA
20253693987300000 + LA600000 + LA
202637104430300000 + LA600000 + LA
202738114873300000 + LA600000 + LA
202839125316300000 + LA600000 + LA
202940135759300000 + LA600000 + LA
203041146202300000 + LA600000 + LA
203142156645300000 + LA600000 + LA
203243167088300000 + LA600000 + LA
203344177531300000 + LA600000 + LA
203445187974300000 + LA600000 + LA
203546198417300000 + LA600000 + LA
203647208860300000 + LA600000 + LA
203748Maturity300000 + LA

Above example has been prepared for illustration purpose only, for more details, please refer to LIC Website and in case of any query please write your comment below.

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