LIC Aadhar Shila Policy is a non-linked individual life insurance policy designed for women. As part of this policy, a fixed payment is made to the insured person on maturity. In case of his untimely demise, the family is provided financial assistance.

LIC is known for its low-risk, consumer-oriented policies with a variety of options to suit financial goals and needs. LIC Aadhar Shila policy also helps policyholders earn up to Rs 11 lakh on a nominal investment of Rs 87 per day.

How to make Rs 11 lakh by investing less than Rs 100?

If a woman at the age of 55 deposits at least Rs 87 every day for the next 15 years, the total contribution of that woman at the end of the first year will be Rs 31,755.

Over a period of ten years, the accumulated amount will be Rs 3,17,550 and finally, on reaching the age of 70 years, the policy holder will be entitled to receive a total of Rs 11 lakh.

Minimum age to take the policy?

Under LIC Aadhar Shila Policy, the minimum entry age for the policy is 8 years, while the maximum age limit is 55 years. Investors can go for a minimum policy term of 10 years and a maximum policy term of 20 years.

Maximum maturity age is 70 years. A person who is willing to invest in it can invest a minimum of Rs 75,000 to a maximum of Rs 3 lakh.

Policy Benefits

• If the insured person survives for the entire period for which the policy is taken, he becomes eligible to receive the maturity benefit. On maturity, the policyholder can reinvest the lump sum amount in a new policy.
• Death benefit is available in this policy. In case of untimely demise of the insured person, the death benefit is given to the nominee of the policy.
• Policyholders can apply to surrender their policy after completing two consecutive policy years. On surrender of the policy, the Guaranteed Surrender Value payable should be equal to the total premium paid during the policy term.
• The investor can also get the benefit of loan after receiving the policy surrender value.
• The premium for the payment term is considered equal to the policy term and can be paid in annual, monthly, quarterly or half yearly mode.

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In case of untimely death of the insured during the policy tenure, up to 125% of the premium is paid to the family. Wherein, in case of survival till maturity, the total premium deposited is returned to the investor. Are being given. At the same time, the premium rates for smokers are also different.

What is LIC’s Jeevan Kiran policy?

LIC launched Jeevan Kiran Life Insurance Policy in the last week of July last month. It is a non-linked, non-participating individual savings scheme as well as life insurance scheme. ALIC has prescribed different premium rates for smokers and non-smokers in this policy.

Maturity Benefits of Jeevan Kiran Policy

The biggest benefit of LIC Jeevan Kiran Life Insurance Policy is that the total accumulated premium amount is paid to the policy holder on maturity. If the policy is in force, the Sum Assured on maturity will be equal to the total premium received by LIC under regular premium or single premium payment.

How much amount will the relatives get on the death of the policy holder

If the policyholder dies within the policy term after the date of commencement of risk but before the stated date of maturity, the sum assured will be paid. This payment will be on the basis of regular and single premium. The scheme covers all types of deaths including accidental deaths except suicide during the first year.

1. Under Regular Premium Payment Policy, in the event of death, 7 times of the Annualized Premium or 105% of the total premiums deposited till the date of death, or Basic Sum Assured will be paid.
2. Under Single Premium Payment Policy, 125% of Single Premium will be paid on death. Apart from this, the basic sum assured will be paid.

Multiple payment options

The mode of payment in case of death of the policy holder can be chosen by the policy holder at the time of taking the policy or before death. In this, apart from giving lump sum payment option to the nominee, there is also an option to pay the total amount in installments i.e. in 5 equal instalments. Either of the two options can be chosen by the life assured during his life time.

LIC Jeevan Kiran Policy Tenure and Conditions

The minimum Basic Sum Assured under LIC Jeevan Kiran Life Insurance Policy is Rs.15,00,000 and there is no limit on the maximum Basic Sum Assured. The minimum policy tenure is 10 years and the maximum policy tenure is 40 years. House wife and pregnant women will not be eligible for the scheme.

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