The LIC Aadhaar Shila plan-944 Shila policy is a straightforward, low-cost life insurance plan designed specifically for women in India. This policy by the Life Insurance Corporation of India (LIC) is non-linked, combining life insurance protection with savings. Ideal for women who want both security and financial growth, Aadhaar Shila offers peace of mind and helps create a financial cushion for the future.
What is the LIC Aadhaar Shila Policy?
LIC Aadhaar Shila plan-944 is a unique life insurance plan for women with an Aadhaar card, blending life insurance protection with maturity benefits. This policy not only provides a financial safety net for the family in case of an untimely event but also allows savings to grow over time. It’s an accessible and budget-friendly option, especially for those just beginning their financial planning journey.
Key Features of LIC Aadhaar Shila plan-944
- Life Coverage with Savings: The policy offers life coverage along with a maturity benefit if the policyholder survives the term.
- Loyalty Additions: At maturity, policyholders receive the assured amount plus any applicable loyalty additions, adding to the final payout.
- Low Premiums: This policy is affordable, making it accessible to a wider range of women.
- Loan Facility: You can take a loan against this policy after a certain period, offering flexibility when needed.
- Death Benefit: If the policyholder passes away during the term, the family receives a death benefit, providing them with financial support.
Why Choose LIC Aadhaar Shila plan-944?
- Affordable Financial Security: With low premiums, Aadhaar Shila offers budget-friendly financial protection.
- Maturity Benefit: On survival of the policy term, the sum assured is paid along with loyalty additions, helping you build savings.
- Flexibility with Premium Payments: You can choose to pay premiums monthly, quarterly, semi-annually, or annually to fit your budget.
- Eligibility for Women Only: Specifically tailored for women who have Aadhaar cards, making it accessible and targeted.
Eligibility for LIC Aadhaar Shila Policy
| Feature | Details |
|---|---|
| Minimum Age | 8 years |
| Maximum Age | 55 years |
| Policy Term | 10 to 20 years |
| Minimum Sum Assured | ₹75,000 |
| Maximum Sum Assured | ₹3,00,000 |
| Premium Payment Options | Monthly, Quarterly, Semi-Annually, Annually |
Benefits of LIC Aadhaar Shila Policy
LIC Aadhaar Shila plan-944 is designed to offer multiple benefits for policyholders who want security without breaking the bank. Here’s what you gain by opting for this policy:
- Death Benefit: In the unfortunate event of the policyholder’s passing during the policy term, the sum assured will be paid to the family, providing essential financial support.
- Maturity Benefit: If the policyholder survives the term, they receive the sum assured along with any applicable loyalty additions.
- Loan Facility: A loan facility is available, offering flexibility in times of financial need.
- Tax Savings: Premiums paid under this policy qualify for tax deductions, adding further value.
How to Apply for LIC Aadhaar Shila?
You can apply for LIC Aadhaar Shila plan-944 by visiting an LIC branch, contacting an LIC agent, or applying online through the official LIC website. Make sure to have your Aadhaar card handy, as it is mandatory for this policy.
FAQs on LIC Aadhaar Shila plan-944
1. What is the minimum sum assured in LIC Aadhaar Shila?
- The minimum sum assured is ₹75,000, ensuring essential coverage for policyholders.
2. Can men apply for the LIC Aadhaar Shila policy?
- No, LIC Aadhaar Shila is specifically designed for women. Men can consider other policies from LIC that offer similar benefits.
3. Is Aadhaar card mandatory for the LIC Aadhaar Shila policy?
- Yes, having an Aadhaar card is necessary to apply for this policy.
4. Does the LIC Aadhaar Shila policy offer a loan facility?
- Yes, you can take a loan against this policy after it has accumulated some value, providing financial flexibility if needed.
5. What happens if the policyholder survives the policy term?
- If the policyholder completes the policy term, they receive the maturity benefit, which includes the sum assured and any loyalty additions.
Conclusion
The LIC Aadhaar Shila plan-944 policy is a practical and affordable option for women who want both life insurance coverage and a savings element. With easy premiums, maturity benefits, and an optional loan facility, Aadhaar Shila provides a flexible and dependable way to build financial security for yourself and your family. It’s a simple step toward peace of mind and future savings.
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