LIC Aadhaar Stambh Plan

LIC Aadhaar Stambh Plan Overview

Plan Type: Non-Linked, Participating, Individual, Savings Life Insurance Plan designed exclusively for male lives.

Objective: Provides a combination of protection and savings with financial support for the family in case of the policyholder’s death before maturity, and a lump sum at maturity.

Key Features:

  1. Death Benefit:
    • During the first five years: “Sum Assured on Death” is payable.
    • After five years until maturity: “Sum Assured on Death” plus Loyalty Addition, if any, is payable.
    • “Sum Assured on Death” is the higher of 7 times the annualized premium or 100% of the Basic Sum Assured, but not less than 105% of the total premiums paid up to the date of death.
  2. Maturity Benefit:
    • On survival to the end of the policy term: “Sum Assured on Maturity” plus Loyalty Addition, if any.
  3. Loyalty Addition:
    • Provided the policy has completed five policy years and at least five full years’ premiums have been paid.

Eligibility Conditions:

  • Minimum Basic Sum Assured: ₹2,00,000
  • Maximum Basic Sum Assured: ₹5,00,000
  • Policy Term: 10 to 20 years
  • Premium Paying Term: Same as Policy Term
  • Age at Entry: Minimum 8 years (completed), Maximum 55 years (nearest birthday)
  • Age at Maturity: Minimum 18 years (completed), Maximum 70 years (nearest birthday)

Options Available:

  1. Rider Benefits: LIC’s Accident Benefit Rider can be availed.
  2. Settlement Option for Maturity Benefit: Option to receive the maturity benefit in installments over 5 years.
  3. Option to Take Death Benefit in Installments: Option to receive the death benefit in installments over 5 years.

Payment and Grace Period:

  • Premium Payment: Yearly, half-yearly, quarterly, or monthly (through NACH).
  • Grace Period: 30 days for yearly/half-yearly/quarterly premiums and 15 days for monthly premiums.

Revival and Paid-Up Policy:

  • Revival: Policy can be revived within 5 consecutive years from the date of the first unpaid premium.
  • Paid-Up Policy: If premiums for at least two years are paid and subsequent premiums are not paid, the policy continues as a paid-up policy with reduced benefits.

Contact Information:

  • For more details, contact your LIC agent or branch, visit the LIC website, or SMS your city name to 56767474.