LIC Aadhaar Stambh Plan (843) Details
LIC Aadhaar Stambh plan (Table 843) with profit is a non-linked regular premium paying endowment assurance plan. This Policy will be Loyalty Addition (LA) based plan exclusively designed for Male policy holders having Aadhaar Card (UIDAI). This plan will be available to standard healthy lives without any medical test requirement.
Key Features
- Male 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
| Gender | Male Only |
|---|---|
| Age at Entry | 8 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 Stambh 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 Basic Sum Assured.
- On death after 5 years of the policy and before maturity:
- Death claim amount will be equal to 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 Stambh (843) with an Example
Let's take an example of Aadhaar Stambh policy with following details
| Sum Assured (Rs.) | 3,00,000 |
| Age (Years) | 28 |
| Policy Term(Years) | 20 |
| Purchase Year | 2017 |
| Yearly Premium (Rs.) (Without ST) | 10,443 |
So, as per above example, policy holder needs to pay the premium of Rs. 10,443 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 | 48 | 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. 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. 73,101 and nominee will get death claim as 3,00,000 + Loyalty Addition in case of normal death or Rs. 6,00,000 + 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 | 10443 | 300000 | 600000 | -- |
| 2018 | 29 | 20886 | 300000 | 600000 | -- |
| 2019 | 30 | 31329 | 300000 | 600000 | -- |
| 2020 | 31 | 41772 | 300000 | 600000 | -- |
| 2021 | 32 | 52215 | 300000 | 600000 | -- |
| 2022 | 33 | 62658 | 300000 + LA | 600000 + LA | -- |
| 2023 | 34 | 73101 | 300000 + LA | 600000 + LA | -- |
| 2024 | 35 | 83544 | 300000 + LA | 600000 + LA | -- |
| 2025 | 36 | 93987 | 300000 + LA | 600000 + LA | -- |
| 2026 | 37 | 104430 | 300000 + LA | 600000 + LA | -- |
| 2027 | 38 | 114873 | 300000 + LA | 600000 + LA | -- |
| 2028 | 39 | 125316 | 300000 + LA | 600000 + LA | -- |
| 2029 | 40 | 135759 | 300000 + LA | 600000 + LA | -- |
| 2030 | 41 | 146202 | 300000 + LA | 600000 + LA | - |
| 2031 | 42 | 156645 | 300000 + LA | 600000 + LA | -- |
| 2032 | 43 | 167088 | 300000 + LA | 600000 + LA | -- |
| 2033 | 44 | 177531 | 300000 + LA | 600000 + LA | -- |
| 2034 | 45 | 187974 | 300000 + LA | 600000 + LA | -- |
| 2035 | 46 | 198417 | 300000 + LA | 600000 + LA | -- |
| 2036 | 47 | 208860 | 300000 + LA | 600000 + 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.
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