LIC Aadhaar Shila Plan (844) Details

LIC Aadhaar Shila plan (Table 844) with profit is a non-linked regular premium paying endowment assurance plan based on loyalty addition. This Policy exclusively designed for Female lives having Aadhaar Card (UIDAI). This plan will be available to standard healthy lives without any medical test requirement.

Key Features

  • Female Only Plan
  • Low Premium Plan
  • Auto Cover Facility
  • Paid premiums are exempted from income tax under 80C
  • Maturity amount is tax free under 10 (10D)

Plan Parameters

GenderFemale Only
Age at Entry8 Years (Completed)
Maximum Age at Entry 55 (Nearest Birthday)
Calculate your Age
Minimum Term 10 Years
Maximum Term 20 Years
Maximum Age at Maturity 70 Years (Nearest Birthday)
Sum Assured Minimum 75,000 and Maximum 3,00,000
Premium Paying Mode Yearly, Half Yearly, Quarterly & Monthly (SSS and NACH Only)
Premium Mode Rebate 2% on yearly, 1% on Half Yearly, Nil on Quarterly & Monthly

Related Link: LIC Aadhaar Shila Premium Calculator

Maturity benefit

  • On survival of year term, Maturity will be Basic Sum Assured + Loyalty Addition.

Death benefits

  • On death during First Five Years of the policy:
    • Death claim amount will be equal to 110% of Basic Sum Assured.
  • On death after 5 years of the policy and before maturity:
    • Death claim amount will be equal to 110% Basic Sum Assured + Loyalty Addition(LA).

Please Note: It understandable that Loyalty Addition is applicable after successful completion of 5 Policy years.

Optional Accidental Benefit Rider

Policy holders above 18 years of age have option to opt for Accidental Benefit Rider with this plan, which will provide additional amount equal to basic sum assured in case of death caused due to accident.

LIC Aadhaar Shila (843) with an Example

With the help of following policy details, Maturity and Risk cover details have been explained below.

Sum Assured (Rs.)3,00,000
Age (Years)30
Policy Term(Years)20
Purchase Year2017
Yearly Premium (Rs.) (Without ST)10,472

So, as per above example, policy holder needs to pay the premium of Rs. 10,472 per year for 20 years and maturity will happen after completion of 20 years. The details of year-wise policy progress and maturity is exaplained below.

Maturity Details

If Policy holder completes 20 years and pays all premium successfully, then Maturity will be as under.

Maturity Year Age at Maturity Total Premium Paid Maturity Amount (Approx.)
2037 50 2,08,860 3,00,000 + Loyalty Addition

Death Claim Details

Following table provides policy year-wise and age-wise total premium paid and death claim details. The death claim in first five year will be 110% of Basic Sum Assured and after completion of 5 years, death claim amount will be 110% of Sum Assured + Loyalty Addition (LA). In case of accidental death, additional amount equal to Sum Assured is also included in death claim amount.

How to Understand Following Table

Suppose if, unfortunate death of policy holder happens in year 2023 (at age 34), then by that time total premium paid will be Rs. 94,248 and nominee will get death claim as 3,30,000 + Loyalty Addition in case of normal death or Rs. 6,30,000 + Loyalty Addition as accidental death claim in case of death due to accident and policy will stop.

Year Age Total Paid Premium Normal Life Cover (Approx.) Accidental Life Cover (Approx.) Return
2017 28 10472 330000 630000 --
2018 29 20944 330000 630000 --
2019 30 31416 330000 630000 --
2020 31 41888 330000 630000 --
2021 32 52360 330000 630000 --
2022 33 62832 330000 + LA 630000 + LA --
2023 34 73304 330000 + LA 630000 + LA --
2024 35 83776 330000 + LA 630000 + LA --
2025 36 94248 330000 + LA 630000 + LA --
2026 37 104720 330000 + LA 630000 + LA --
2027 38 115192 330000 + LA 630000 + LA --
2028 39 125664 330000 + LA 630000 + LA --
2029 40 136136 330000 + LA 630000 + LA --
2030 41 146608 330000 + LA 630000 + LA -
2031 42 157080 330000 + LA 630000 + LA --
2032 43 167552 330000 + LA 630000 + LA --
2033 44 178024 330000 + LA 630000 + LA --
2034 45 188496 330000 + LA 630000 + LA --
2035 46 198968 330000 + LA 630000 + LA --
2036 47 209440 330000 + LA 630000 + LA --
2037 48 Maturity 300000 + LA

Above example has been prepared for illustration purpose only, for more details, please refer to LIC Website and in case of any query please write your comment below.

Comments & Reviews (12)

Wrote :

01-09-2019 23:08:27

My mother took this policy in march 2018. She passed away on 15th july 2019. Will any money be paid by the insurance company

Wrote :

03-09-2019 11:17:32

Yes, if the policy is in force i.e. all due premiums are paid at the time of death then, policy is eligible for death claim. Please visit your servicing branch for more details.

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Wrote :

06-07-2018 10:13:47

How to calculate loyalty addition in adhaar sheila? SA: 100000, Term: 10 years.

Wrote :

09-07-2018 02:41:52

Generally, It is declared per thousand of Sum Assured for the year in which policy is coming to claim by virtue of surrender, death claim or maturity.

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Wrote :

22-06-2017 13:00:19

If we select accidental Rider, do we need to pay any additional Premium

Wrote :

22-06-2017 13:06:59

Yes. Riders come with extra premium. You may check premium without rider and with rider.

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Wrote :

19-06-2017 13:28:46

MY MOTHER AGE IS 57 .WHAT IS PREMIUM AMOUNT DETAILS FOR 2 LAKH SUM ASSURED

Wrote :

19-06-2017 14:10:15

Maximum allowed age is 55 years.

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Wrote :

27-04-2017 15:07:52

I am 55yrs and 11 months old. Is there LIC policies suitable for me? Am I eligible for the new one - Aadhaar Stambh plan?

Wrote :

27-04-2017 16:18:01

Maximum age of entry in this plan is 55 year (nearest birthday), In your case, 55 year and 11 months will be considered as 56 years.

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Wrote :

27-04-2017 10:28:25

If a policy holder dies during the policy term ,are the next premiums waived ?

Wrote :

27-04-2017 15:53:51

No, in case of death of policy holder, his/her nominee will get death claim amount and policy will stop.

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Wrote :

26-04-2017 17:15:16

Sir, Please highlight about calculation of Loyalty Addition . Please rectify the figure shown in the column "Maturity Amount (Approx.)" in the "MATURITY DETAILS" para as "3,00,00 + Loyalty Addition" . It should be "3,00,000 + Loyalty Addition".

Wrote :

27-04-2017 15:51:41

Thanks for your support, typing error has been corrected.

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Wrote :

24-04-2017 14:57:31

MY WIFE ' s AGE is 46, WHAT IS PREMIUM AMOUNT DETAILS FOR 2 LAKH SUM ASSURED ? & ALSO WHAT IS PREMIUM AMOUNT DETAILS FOR 3 LAKH SUM ASSURED ?

Wrote :

24-04-2017 15:16:42

Please use premium calculator of this plan. Click Here to go to premium calculator of this plan.

Wrote :

27-04-2017 12:59:47

Hi. For more details do contact me on mayekar.pushpa@gmail.com

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Wrote :

24-04-2017 14:37:34

MY MOTHER AGE IS 54 .WHAT IS PREMIUM AMOUNT DETAILS FOR 2 LAKH SUM ASSURED

Wrote :

24-04-2017 14:44:30

She can have max term as 16 yrs and premium will be 11608 in yealy mode.

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Wrote :

24-04-2017 14:25:21

My Age in 36 Years, Sum Assured Rs 300000/- Terms 16 years, what will be yearly premium and Maturity amount

Wrote :

24-04-2017 14:33:16

Premium will be 14368(excluding taxes) in yearly mode.

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Wrote :

24-04-2017 10:08:17

My age 49, in Aadhaar Shila policy for three lakhs sum assured n term 10yrs what will be the yearly premium n maturity amount

Wrote :

24-04-2017 11:10:59

Total First Year Premium will be 28023 (Premium- 27010 + Service Tax- 1013), you may use premium calculator yourself to know more. Maturity will be 3,00,000 +Loyalty Addition.

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Wrote :

21-04-2017 14:29:56

What is the yearly premium for sum assured of ruoees 5 lakhs ?

Wrote :

21-04-2017 23:55:19

Maximum allowed sum assured in this plan is 3Lakh.

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