Monday, April 13, 2020



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 Entry55 (Nearest Birthday)
Calculate your Age
Minimum Term10 Years
Maximum Term20 Years
Maximum Age at Maturity70 Years (Nearest Birthday)
Sum AssuredMinimum 75,000 and Maximum 3,00,000
Premium Paying ModeYearly, Half Yearly, Quarterly & Monthly (SSS and NACH Only)
Premium Mode Rebate2% 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 YearAge at MaturityTotal Premium PaidMaturity Amount (Approx.)
2037502,08,8603,00,000 + 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.
YearAgeTotal Paid PremiumNormal Life Cover (Approx.)Accidental Life Cover (Approx.)Return
20223362832330000 + LA630000 + LA--
20233473304330000 + LA630000 + LA--
20243583776330000 + LA630000 + LA--
20253694248330000 + LA630000 + LA--
202637104720330000 + LA630000 + LA--
202738115192330000 + LA630000 + LA--
202839125664330000 + LA630000 + LA--
202940136136330000 + LA630000 + LA--
203041146608330000 + LA630000 + LA-
203142157080330000 + LA630000 + LA--
203243167552330000 + LA630000 + LA--
203344178024330000 + LA630000 + LA--
203445188496330000 + LA630000 + LA--
203546198968330000 + LA630000 + LA--
203647209440330000 + LA630000 + LA--
203748Maturity300000 + LA


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