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About Aadhar Stambh Plan

LIC’s Aadhar Stambh is an affordable regular premium endowment assurance plan exclusively designed for Male lives having Aadhaar Card issued by UIDAI.

Salient Features

  • Exclusive endowment insurance plan specially designed for MALE lives without any medical.
  • Ideal for Regular Savings & Life Cover.
  • Lowest premium in its category.
  • Discount in Premium for Sum Assured over Rs.2,00,000 Half yearly & Yearly modes of payment.
  • Life Cover to the extent Basic Sum Assured + Loyalty Addition (as applicable after 5 years)
  • Auto Cover - Life Cover continues for 2 years even if the premiums are in arrears.
  • Loan Available after 3 full years of premium payment.
  • On Maturity, Sum Assured + Loyalty Addition (as applicable) will be paid.
  • Can be easily aligned with your family objective with its wide choice of term.
  • Policy commencement can be backdated within the same financial year.
  • Double Accident Benefit is available as an optional rider by payment of nominal additional premium during the policy term.
  • Free lookup period for 15 Days.
  • Premium Paid are eligible for tax savings u/s 80 C, Maturity Amount is Tax Free u/s 10 (10) (D).

Plan Parameters

Parameter
MinimumMaximum
Age
855
Term
1020
Sum Assured
75000300000
Modes
Yly, Hly, Qly, Mly, SSS

Benefits of Aadhar Stambh Plan

Maturity Benefit

On successful completion of the term policy while the assured is alive i.e. after all the due premiums will be clear, Maturity Benefit=Basic Sum Assured+Loyalty Addition.

Death Benefit

On death during the first 5 years of the policy:

The death claim amount will be equal to Basic Sum Assured.

On death after 5 years of the policy and before maturity:

The death claim amount will be equal to Basic Sum Assured+Loyalty Addition (LA).

*Note: Loyalty Addition can be availed only after successful completion of 5 years.

Sum assured on death is the higher of 10 times of the annualized premium or basic sum assured. This benefit is not less than 105% of the premiums paid until death. Premiums paid does not include either taxes or any type of extra charges due to rider premiums.

Loyalty Addition

On completion of 5 yeras of the policy and payment of the full premium has been done for at least five years, then the policyholder is liable for Loyalty Addition if he/she dies during the policy term or by the time of maturity. On completion of policy years, Loyalty Addition will be paid covered by a paid-up policy if it was in force. Loyalty addition is also considered during Special Surrender Value Calculation on surrender of the policy during the term, only if the policy will complete five years, and at least for five years, full premium has been paid.

Optional Accidental Benefit Rider

Policyholders above 18 years of age have the option of taking the advantage of LIC’s Accidental Benefit Rider with this plan, which will provide an additional amount equal to basic sum assured in case of death caused due to the accident.

Date of Commencement of Risk

Under this plan, the risk will commence immediately from the date of inception of policy. It also includes minor lives.

Payment of Premiums

Premium under this policy can be paid in intervals in the form of yearly, half-yearly, quarterly and monthly, where monthly premium can only be through NACH or salary deduction during the term of the policy. A grace period of one month but not less than 30 days is allowed for payment of yearly or half-yearly or quarterly premiums and 15 days for monthly premiums.

Revival

A revival period of 2 years is given to the assured from the date of first unpaid premium but before the date of maturity. This happens when the policy gets lapsed if the premium is not paid by the end of the grace period. The policy can be revived by paying all due premium along with interest at such rate as fixed by the Corporation at the time of the payment, subject to the submission of satisfactory evidence of continued insurability.

Paid-Up Value

All the benefits under the policy will cease after the expiry of the grace period and nothing will be paid if the premiums have been paid for less than 3 years. In case of premium fully paid for three years and any subsequent premium is not duly paid, then the policy won’t be ceased but continued as a paid-up policy.

At Maturity the Maximum Age is 70 years (nearest birthday)

Date of risk initiation:

In this policy, the infant/juvenile is also covered and the risk will be initiated from the acceptance date itself.

*The overall Basic Sum Assured under this plan will not excel Rs. 3 lakhs.

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