LIC Aadharshila Scheme 2024: In a world where financial security and independence are crucial, Life Insurance Corporation of India (LIC) continues to spearhead initiatives to safeguard the future of Indian citizens.
Among its array of offerings, the LIC Aadharshila Scheme stands out as a beacon of financial empowerment, particularly tailored for women. Let’s delve into the depths of this scheme to understand its nuances, eligibility criteria, benefits, and the process to avail them.
Understanding LIC Aadharshila Scheme
Launched recently, the LIC Aadharshila Scheme represents an endowment plan designed with the dual objective of protection and savings.
It serves as a platform for women to not only secure their financial future but also cultivate a habit of saving for the long term. The scheme operates on a participatory and non-linked basis, ensuring transparency and flexibility for the policyholders.
Key Features of LIC Aadharshila Policy 2024
Scheme Overview:
- Scheme Name: LIC Aadharshila Scheme
- Target Beneficiaries: Women
- Policy Tenure: Minimum 10 years, Maximum 20 years
- Objective: Encourage women towards savings and security investments
- Maturity Age: 70 years
- Official Website: LIC.gov.in
Eligibility Criteria and Documentation
To be eligible for the LIC Aadharshila Scheme, the applicant must fulfill certain criteria:
- Gender: Female
- Age: Minimum 8 years, Maximum 55 years
- No medical examination required
- Mandatory Documents: Aadhar Card, Voter Card, Ration Card, Passport-size Photo, Income Tax Return, Salary Slip
Applying for LIC Aadharshila Scheme
The application process for the LIC Aadharshila Scheme is straightforward:
- Visit the official LIC website.
- Navigate to the Aadharshila Scheme section.
- Fill out the application form with requisite details.
- Upload scanned copies of necessary documents.
- Submit the application.
- LIC officials will guide you through further premium and procedural formalities via call.
Benefits and Additional Information
- Tax Benefit: Enjoy tax exemptions under Section 80C and Section 10D.
- Free Look Period: Cancel policy within 15 days for a full refund.
- Grace Period: 30-day grace period for premium payment; 15 days for monthly premium payers.
- Loan Facility: Obtain a loan against the policy after three years of premium payment.
- Surrender Value: Eligible for surrender value after three years of premium payment.
- Death Benefit: Family receives death benefit if the policyholder passes away within five years of policy initiation.
- Maturity Benefit: Loyalty addition provided along with maturity benefit for early premium payment.
Frequently Asked Questions
- Settlement Options: Policyholders can opt for periodic maturity benefits over 5, 10, or 15 years.
- Rebate on Sum Assured: Rebates vary based on the sum assured, ranging from 1.50% to 2%.
- Loan Amount: Policyholders can avail up to 90% of the policy value as a loan.
In conclusion, the LIC Aadharshila Scheme emerges as a commendable initiative aimed at empowering women by fostering a culture of financial prudence and security.
By providing a comprehensive array of benefits and a hassle-free application process, LIC reaffirms its commitment to the welfare of Indian citizens, especially women. So, seize the opportunity, secure your future, and embark on a journey towards financial liberation with LIC Aadharshila Scheme.
