LIC’S NEW ENDOWMENT PLAN
LIC’S AADAR SHILA PLAN
This plan is designed by keeping working women and housewives in mind.
This plan provides protection against death and financial help on maturity.
We can also get loan facility through this policy.
Benefit on Death: -
If Death happens within first five policy years.
“Sum Assured on death will be paid to the family or nominee of the policy holder”.
If Death happens after five years but before maturity date.
“Sum Assured on death” + loyalty benefit (if generated till death or last paid premium) shall be given to deceased family or nominee.
NOTE: - Here “Sum Assured on Death” will be count on the basis of
1). 7 times of annualised premium paid.
OR
2).110% of Basic Sum Assured.
3). Above benefit will be eligible for policy holder only if his/her has paid premium regularly and policy should not be lapsed during time of death.
4). LIC Merchant
Benefit on Maturity: -
Here “Basic sum Assured” will be paid as a “Basic Sum Assured on Maturity” + Loyalty benefit that will be generated according to the profit earned by corporation through policy.
Eligibility Conditions and Restrictions for policy: -
NOTE: - This plan is available for standard healthy females only without undergoing any medical examination.
a). Basic Sum Assured per life (Minimum): - Rs.75,000
b). Basic Sum Assured per life (Maximum): - Rs. 3, 00,000
NOTE: - Beneficiaries will get 5,000 rupees multiples of basic sum assured if she apply for policy between Rs.75, 000 to Rs. 1, 50,000 and 10,000 rupees multiples of basic sum assured if she apply for policy more than Rs.1, 50,000.
c).Policy Entry Age (Minimum): - 8 Years (Completed).
d).Policy Entry Age (Maximum): -55 Years( before or after 6 months from birthday.)
e).Policy Period: - 10 to 20 years.
f).Premium Paying Period: - same as policy period.
g).Maximum Age for Maturity: - 70 years (before or after 6 months.)
h).LIC Merchant.
i). LIC Merchant login.
Riders Option Available: -
LIC’s Accident Benefit Rider is available under this policy from activating of policy to last 5 years available for completion of this policy.