LIC’s Aadhaar Shila is a life insurance plan specifically designed for women, offering a combination of protection and savings. It provides financial support for the family in case of the policyholder’s death and a lump sum amount at maturity.

Key features:

• Eligibility:

  • Age: 8 to 55 years

  • Policy Term: 10 to 20 years

  • Basic Sum Assured: ₹2 lakhs to ₹5 lakhs

• Benefits:

  • Death Benefit: Payable if the policyholder dies during the policy term. The amount depends on the policy term and premiums paid.

  • Maturity Benefit: Payable if the policyholder survives the policy term. It includes the Basic Sum Assured and Loyalty Addition (if any).

  • Loyalty Addition: Payable if the policy has completed five years and five full years’ premiums have been paid.

• Options:

  • LIC’s Accident Benefit Rider: Provides additional coverage in case of accidental death.

  • Settlement Option: Allows the policyholder to receive the Maturity Benefit in installments over five years.

  • Option to take Death Benefit in installments over 5, 10, or 15 years.

• Additional features:

  • Premium Payment: Yearly, half-yearly, quarterly, or monthly.

  • Grace Period: 30 days for yearly, half-yearly, and quarterly premiums; 15 days for monthly premiums.

  • Revival: A lapsed policy can be revived within five years.

  • Paid-up Policy: If premiums are not paid after two years, the policy continues as a paid-up policy with reduced benefits.

  • Surrender: The policy can be surrendered after two years.

  • Policy Loan: Available after two years’ premiums have been paid.