When it comes to investing our hard-earned money, we all seek a platform that provides both security and excellent returns. The Life Insurance Corporation of India (LIC) has been a longstanding choice for countless Indians, offering a wide range of investment plans tailored to the financial needs of individuals, be it men, women, or children. LIC’s Aadhaar Shila Plan is one such unique offering that’s worth exploring.
Aadhaar Shila Plan: The Basics
LIC’s Aadhaar Shila Plan is a non-linked individual life insurance product exclusively designed for female subscribers. This plan not only assures policyholders of a guaranteed payout upon maturity but also provides essential financial support to the family in the unfortunate event of the policyholder’s demise.
Why Choose the LIC Aadhaar Shila Plan?
LIC’s hallmark lies in its ability to offer low-risk, customer-centric policies catering to a wide spectrum of financial needs. The Aadhaar Shila scheme is no different. It empowers investors and policyholders to accumulate a substantial sum by making a modest daily investment of just ₹87.
Calculating Your Returns
Let’s delve deeper into the numbers. Consider a 55-year-old individual who decides to invest ₹87 per day for the next 15 years. By the end of the first year, their total contributions will reach ₹31,755. Over a decade, the cumulative investment will amount to ₹3,17,550. Finally, when the policyholder reaches 70, they become eligible to receive a total sum of ₹11 lakh.
Key Features of the LIC Aadhaar Shila Plan
Eligibility:
- Minimum entry age: 8 years
- Maximum entry age: 55 years
Flexible Policy Terms:
- Minimum policy term: 10 years
- Maximum policy term: 20 years
Maturity Age:
- Maximum maturity age: 70 years
Investment Range:
- Minimum investment: ₹75,000
- Maximum investment: ₹3 lakh
The LIC Aadhaar Shila Plan offers a secure and hassle-free way for women to invest in their financial future. With the flexibility of policy terms and a modest daily investment, policyholders can look forward to a substantial ₹11 lakh return at the end of their investment period. It’s a smart choice for those seeking financial stability and growth.
