LIC Aadhar Stambh Plan (Plan Number: 943; UIN: 512N310V0101) is a non-linked insurance plan with regular premium payments and profits. An aggregation that provides both savings and protection. 

The Aadhar Stambh Plan by LIC is strictly for male policyholders. They must have Aadhar cards issued by UIDAI to apply.

This loyalty plan is not a supplemental plan. It does not require any tests or other medical procedures.

It provides financial assistance to the family in the event of the unfortunate death of the policyholder before maturity, and a lump sum amount for the policyholder who survives.

LIC Aadhar Stambh – The Features

  • Only available for males
  • Low premium
  • This plan does not provide critical illness benefits.
  • This plan does not provide a loan facility, but it is possible to obtain one after three years.
  • LIC’s permanent disability rider and accidental rider can be accessed
  • This policy allows you to revive a lapsed policy within two years of the first premium not paid.
  • Paid premiums aren’t taxable under Section 1980c of the Income Tax Act 1961.
  • The Income Tax Act 1961, Section 10 (10D), exempts the maturity amount from tax.
  • This plan offers auto coverage
  • This policy is called an Endowment policy. The amount is paid as a lump sum at maturity, i.e. at the end of the term.
  • This plan will pay Loyalty Addition if there is a death within 5 years. Normal insurance coverage will still be available but will only cover Basic Sum Assured.
  • The policyholder will receive Basic Sum Assured Loyalty Plus upon maturity.

Eligibility for LIC Aadhar Stambh

Entry Age: 8 – 55 Years

Minimum age for Maturity: Less than 70 years

Minimum Assured sum: 75,000 Thousand

Maximum Assured Sum 3 Lakhs

Premium Payment Cycle: Monthly/Quarterly/Half-yearly/Annual

Rebate: Per Year 2%, Half Yearly 1 1%

Benefits of LIC Aadhar Stambh

Maturity Benefit

It is an endowment policy. The assured will be able to complete the policy term while they are alive, and only after all due premiums have been paid.

The Basic Sum Assured will equal the sum assured at maturity.

Loyalty Additional

If the premiums have not been paid for more than five years, loyalty addition will be covered by a paid up policy. If the premium has not been paid in full for five years, loyalty addition will be considered.

Death Benefit

On death within the first five years the policy:

The Basic Sum Assured will pay the death claim amount.

After 5 years the policy has been in force and before maturity, upon death

No cost look period

If the person is not happy with the terms of the policy within 15 days, they can cancel it anytime. LIC will refund the premium deposit after cancellation, deducting any risk premium or stamp duty fees.

Surrender Value

The policyholder may surrender it anytime after the premiums have been paid continuously for three years. LIC will pay Surrender Value equal to the higher of Guaranteed Surrender value or Special Surrender Value, upon surrendering.