LIC Aadhaar Stambh

LIC Aadhaar Stambh is an insurance plan which provides both protection and savings. It is only for male applicants and an Aadhaar card is mandatory. Some of the benefits offered are death and maturity benefit as well as add-on riders.
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If you are looking for an insurance plan which gives the combined benefit of savings and protection, then the LIC Aadhaar Stambh is the right plan for you. This is a non-linked, with-profit endowment assurance life insurance plan which is offered exclusively to male applicants who hold an Aadhaar Card. In case of the sudden death of the insured policyholder before the end of the plan term, his/her nominees will be entitled to the death benefit which will help take care of the family’s future needs. In case the policyholder survives the policy term, they will be entitled to a maturity benefit which is paid in lump sum.

Eligibility for LIC Aadhaar Stambh

Plan type This is a non-linked, with-profit endowment assurance life insurance plan available only for male applicants holding an Aadhaar Card
Min. entry age The applicant must at least be 8 years of age when first applying for the plan
Max. entry age The applicant must not be above 55 years of age when applying for the plan for the first time
Max. maturity age The applicant’s maximum age at the time of plan maturity must not be above 70 years
Sum assured The min. basic sum assured offered under the plan is Rs.75,000; the max. basic sum assured is Rs.3,00,000; basic sum assured will be provided in multiples of Rs.5,000
Policy term This policy will be issued for a term of 10 years to 20 years
Premium payment term The premium payment term for this plan will be the same as the policy term
Date of risk commencement The risk coverage under this plan will commence immediately from the date of policy issue
Payment of Premiums Premiums for the plan can be paid on an annual, semi-annual, quarterly, or monthly basis; premium payment on a monthly basis will only be allowed under the NACH method

Benefits Offered Under LIC Aadhaar Stambh

Death benefit

  • If the life assured dies before the end of the policy term, their nominee will be entitled to a death benefit, on the condition that all due premiums have been paid.
  • If the policyholder dies during the first 5 ears of the policy tenure, the “Sum Assured on Death” will be payable. If the policyholder dies after the policy has completed 5 years, then the “Sum Assured on Death” plus the Loyalty Addition (if any) will be payable.
  • Here, the sum assured will be the greatest of (i) 10x of the annualised premium; OR (ii) sum assured on maturity; or (iii) basic sum assured. The death benefit offered will not be below 105% of the total sum of premiums paid till the date of death.

Maturity Benefit

If the life assured survives the policy term, and have paid all due premiums, they will be entitled to the maturity benefit or ‘sum assured on maturity’, along with any Loyalty Addition.

The ‘sum assured on maturity’ will be equal to the Basic Sum Assured.

Add-on Riders

The policyholder has an option of availing LIC’s Accident Benefit Rider (UIN: 512B203V02). Rider sum assured cannot exceed the Basic Sum Assured.

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