Overview
LIC's Aadhaar Stambh Plan (Plan No: 943, UIN: 512N310V01) is a non-linked, with-profits, regular premium-paying endowment plan. It is a combination of savings and protection. LIC’s Aadhaar Stambh Plan is exclusively for male policyholders holding Aadhaar cards issued by UIDAI (Unique Identification Authority of India). This is a loyalty addition-based plan that does not require medical tests and is available for standard healthy lives.
It provides financial support to the family in case of the unfortunate death of the policyholder before maturity and a lump sum amount at the time of maturity for the surviving policyholder.
LIC Aadhaar Stambh Plan offers a range of benefits including:
- Death Benefits
- Maturity Benefits
- Loyalty Additions
- Policy Revival
- Multiple Rider Options
How to Buy LIC Aadhaar Stambh Plan Online via PolicyX.com
- Visit the official website of PolicyX.com.
- Click on the 'Investment' tab.
- A new page will appear on the screen.
- Fill out the form at the top of the page with the necessary details.
- Select your income and city. Click on 'Proceed'.
- Update your education and occupation details.
- Choose your preferred plan and click on 'Buy this plan'.
- Select the policy term, premium period, investment amount, and riders (if required), and then proceed to pay.
Benefits of LIC Aadhaar Stambh Plan
There are various benefits to buying the LIC Aadhaar Stambh Plan. Let’s understand each of them in detail:
- Death Benefit: On death during the first five policy years, a benefit is payable in case of the death of an insured person before the maturity time. Before the date of commencement of risk: Refund of premium(s) paid without interest will be payable.
- Maturity Benefits: In the case where the insured survives till the end of the policy period, provided all the due premiums have been paid, the Sum Assured on Maturity along with Loyalty Addition, will be payable.
- Loyalty Additions: On completion of policy years and if the premiums have been paid for at least 5 years, Loyalty Addition will be covered by a paid-up policy if the policy is in force. Loyalty addition is also considered during the Special Surrender Value Calculation on the surrender of the policy during the term, only if the full premium has been paid for at least five years.
- Policy Revival: A revival period of 2 years is given to the assured from the date of the first unpaid premium but before the date of maturity. This happens when the policy lapses if the premium is not paid by the end of the grace period.
Grace Period
A grace period of 30 days shall be allowed for payment of yearly, half-yearly, or quarterly premiums, and 15 days for monthly premiums from the date of the first unpaid premium.
Loan Facility
You can avail of a loan against your LIC Aadhaar Stambh Plan for a certain period at the prevailing interest rate.
Free Look Period
This plan offers a 30-day free look period to cancel the policy if you are not satisfied.
Tax Benefits
LIC Aadhaar Stambh Plan offers term insurance tax benefits under Section 80C of the Income Tax Act, 1961, for up to ₹1.5 lakhs of the total premium paid in the same financial year.
How to Buy LIC Aadhaar Stambh Plan Online via LIC Website
- Visit the official website of Life Insurance Corporation of India.
- Hover over 'Wealth Creation'.
- Click on 'LIC Aadhaar Stambh'.
- Click on ‘Buy Online’ and you will be redirected to a new page.
- Enter your name and contact information. One of their representatives will reach out to you and discuss the quotes.
- Once discussed, you can make the premium payment and get the policy documents.
Exclusions
- If the policyholder commits suicide within 12 months of policy purchase, no death benefits are offered to their family members. Either 80% of the premiums paid to date or the surrender value acquired to date, whichever is higher, is paid.
Documents Required to Buy LIC Aadhaar Stambh Plan
Here is the list of documents required to buy the LIC Aadhaar Stambh Plan:
- Photo ID Proof: Passport, Aadhaar card, PAN card, Driving license (any one of the following).
- Age Proof: Passport, Aadhaar card, PAN card, Driving license (any one of the following).
- Address Proof: Utility bill, passport, Voter ID, ration card (any one of the following).
- Medical Records: Medical records of the policyholder (if requested).
- Income Proof: Bank statement, last three months' salary slips (if you are salaried) (any one of the following).
Plan At a Glance
| What's Good Here |
What's Missing |
| Death Benefits |
Premium Offset |
| Maturity Benefits |
High sum assured rebate |
| Loyalty Additions |
Auto cover continuance |
| Additional Riders |
Top-up premium |
In a Nutshell
If you are looking for a life insurance plan for a male policyholder that provides death benefits to your family in case of your unfortunate demise along with maturity benefits, then the LIC Aadhaar Stambh Plan is a suitable option. If you are still confused about whether this plan is right for you, contact us at PolicyX.com.
For more information about this plan, you can visit PolicyX.com, or call us at 1800 - 420 - 0269. Our insurance experts listen to your unique needs and suggest the best solution.
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