The Life Insurance Corporation of India (LIC) has various small savings schemes where subscribers get great benefits and returns at a low premium. The Aadhaar Stambh (Plan-843) is one such scheme that is customised specially for Aadhaar card holding males to generate around Rs 4 lakh money after maturity. Apart from being a premium small savings scheme it also gives investors good after death benefits too.
Speaking about the policy, Jitendra Solanki — SEBI registered tax and investment expert, said, "LIC Aadhaar Stambh is an insurance policy which provides both protection and savings. The plan is only for male applicants and an Aadhaar card is mandatory for buying this LIC plan. Some of the benefits offered in this small saving scheme of the LIC are death and maturity benefit as well as add-on riders."
In case of the sudden death of the policy holder before the end of the plan term, his or her nominees will be entitled to the death benefit. In case the policyholder survives the policy term, they will be entitled to a maturity benefit, which is paid in lump sum.
Features of Aadhaar Stambh (Plan-843)
Men holding Aadhar cards and between the ages 8 to 55 years can buy this LIC Aadhaar Stambh Policy. The applicant's maximum age at the time of policy scheme maturity must not be above 70 years. The minimum basic sum assured offered under the Aadhaar Stambh LIC Policy is Rs 75,000 while the maximum basic sum assured is Rs 3,00,000, sum assured is provided in multiples of Rs 5,000. This LIC policy is offered for the period of 10 years to 20 years.
An Aadhaar card holder opting for the Aadhaar Stambh LIC Policy can expect to get a maturity amount of Rs 3.97 lakh after investing for 20 years and paying an annual premium of Rs 10,314, as per an LIC Maturity Calculator.
The risk coverage under this plan commences immediately from the date of policy issue.