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LIC Aadhaar Shila Plan: Big Benefits, Less Requirements

By on June 9, 2020 0 2297 Views

Everyone has a different lifestyle, different needs. Hence policymakers have come-up with a range of life insurance policies. But there is one policy in the market that can benefit almost every woman. Its requirements are minimum, and benefits are enormous. LIC Aadhaar Shila Plan can be a perfect fit for every woman. If you are a woman, or there is a woman that you about, be it your mother or wife, then you must see this policy plan.

As the name suggests, this plan is only for women who have Aadhaar cards. This policy plan gives a large sum of money after the maturity period ends. It also provides financial help to the family if the policyholder dies for some reason for the maturity period ends.

Who Can Buy LIC Aadhaar Shila Plan?

Any woman between the age of 8 to 55 can buy this policy. As mentioned earlier, she must also have an Aadhaar card. The maturity period of this policy varies between 10 and 20 years. At the time of the maturity period ends, the age of the policyholder should not be more than 70 years.


The terms and conditions in LIC’s Aadhaar Shila Plan are flexible than most of the other policies available in the market. Policy buyer doesn’t need to go under any medical test before buying the policy.

The premium of the policy can be paid on a yearly, half-yearly, quarterly, or even monthly basis. The minimum sum covered will be Rs 75,000, while the maximum covered value is Rs 3,00,000.

Death Benefit

If the policyholder dies for some reason before five years, then her family member will get the insured money. And if the policyholder dies after five years of paying premiums for LIC’s Aadhaar Shila Plan, then the family will get insured death money and a loyalty addition.

Maturity benefit

After the competition of the maturity period, the policyholder will get the maturity money plus loyalty addition.


Loyalty Addition

If the policyholder pays every premium for five years, then she will get a loyalty addition, be it on pre-mature death or after the completion of the maturity period.

Grace Period

In the Yearly, Half-yearly, and Quarterly premiums, the policyholder gets a grace period of one month. This means, even if the premium date passes, the policyholder can still pay the premium within one month without any late fine. In the case of the monthly premium, the policyholder gets a grace period of half month.


Probably the biggest perk of buying this policy is that one can get a loan on the premium paid after the competition of the first three years.

Surrender Value

For any reason, if the policyholder wants to end the plan before even completing the first three years, then she will have to surrender all the money that has been paid until the date of surrender.

However, if the policyholder surrenders the policy plan after paying premiums of at least three years, then she will get her money back minus some Surrender Value.

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