LIC Aadhaar Stambh and LIC Aadhaar Shila: Your complete guide to Aadhaar-based plans

The Life Insurance Corporation of India offers two endowment assurance plans for Aadhaar card holders which offer both savings potential and insurance coverage. These plans provide protection to the life insured and also help them to build a corpus fund over the policy period. LIC offers two separate plans specifically designed for men and women. The LIC Aadhaar Stambh is meant for men while the LIC Aadhaar Shila can only be subscribed by women.  

The two endowment plans also offer a lump-sum amount of return at the time of maturity to the surviving policyholder or financial support for the family in case of unfortunate death of policy holder during the policy coverage period.

LIC Aadhaar Stambh vs LIC Aadhaar Shila: sum insured, entry age, minimum term and maximum age  

LIC’s Aadhar Stambh is a non-linked, participating, individual life assuring savings plan that is available only for male applicants. This also offers financial protection to the family in case of death of the policyholder.

The LIC Aadhaar Shila plan offers financial support to the family in case of death of the policyholder before maturity. However, only women can avail this policy.

Additionally, both the plans address liquidity requirements by offering a lending facility as the policyholder can avail loan against the insurance scheme.

The entry age under both the plans is 8 years and the maximum entry age is 55 years. The maximum age of maturity is 70 years. Both the plans come with two policy terms of 10 years and 20 years.

The minimum sum assured is Rs 75,000 and the maximum sum assured under both the plans is Rs 3,00,000.  The policy subscribers can choose quarterly, half-yearly, or annual premium paying options. 

A policyholder is eligible for the Loyalty Additions if they have paid their premiums for the first five years.

LIC Aadhaar Stambh vs LIC Aadhaar Shila: Maturity benefit and death benefit

The maturity benefit on survival of the policyholder after the policy term includes the total sum assured along with the loyalty additions.

The LIC Aadhaar Shila plan offers death claim amount equal to 110 percent of Basic Sum Assured for the death of the policyholder within the first five years of subscribing the plan. On death after 5 years of the policy and before maturity the death benefit will include 110 per cent of basic sum assured and loyalty additions.

In case of unfortunate death of the insured person under the LIC Aadhaar Stambh within the first five years of the commencement of the policy 100 per cent of the sum assured will be paid as death benefit. In case of the death of the life insured after five years of purchasing the policy, the loyalty additions will be paid along with the 100 per cent of sum insured amount.