Key facts to know about LIC Aadhaar Stambh Policy, including loan facility

If you are looking for life insurance, strong maturity benefits and the option to loan against policy, read about the LIC Aadhaar Stambh Policy.

LIC Aadhaar Stambh Policy
  • LIC Aadhaar Stambh Policy is designed keeping male customers in mind 

  • The key features of this policy include financial protection with wealth growth 

  • The policy can become a collateral in times of need

Aadhaar Stambh is a protection cum savings plan offered by the Life Insurance Corporation of India, which is specifically designed for male policy buyers. 

Also Read: LIC’s New Jeevan Azad policy: You get guaranteed returns on maturity. Should you invest?

Here are the key features of the LIC Aadhaar Stambh policy:

  • It is a non-linked, participating policy that is designed as an individual savings plan

  • Its death benefit are - 

    • The death sum assured is paid on death during the first five years

    • The death sum assured and loyalty addition is payable if death occurs after five years and before policy maturity

    • This is paid when all due premiums have been paid

    •  Sum assured on death is higher of i) seven times of annualised premium or ii) 100% of the basic sum assured.

    • Death benefit cannot be less than 105% of total premium paid up to the date of death.

  • Its maturity benefit are - It comprises sum assured on maturity, which is the same as the basic sum assured. It also includes loyalty addition, which is given after payment of at least five years full premium

  • Basic sum assured for the policyholder under this policy is between Rs 2 lakh and Rs 5 lakh

  • Age limits for entry to this policy are eight years completed and till 55 years

  • The policy also has an accident benefit rider. The rider’s premium cannot exceed the base plan’s premium

  • Aadhaar Stambh offers a settlement option where maturity benefit is received in instalments over five years. Such instalments may be paid monthly, quarterly, half-yearly and annually. This option is also available on death benefits

  • Premium payment can be made yearly, half-yearly, quarterly, and monthly

  • A grace period of thirty days is available for premium payment. This is 15 days in the case of monthly premium payment

  • If a policyholder fails to pay a premium within the grace period, the lapsed policy can be revived within five consecutive years

Also ReadInvest in LIC Saral Pension plan to secure pension income and life cover

LIC Aadhaar Stambh Policy: Loan against policy

Loan against this policy can be applied after paying at least two full year’s premium. The interest rate cannot exceed the 10-year government securities rate, compounded half-yearly. 

The loan is available for 90% of surrender value in the case of in-force policies, and 80% of surrender value in the case of paid-up policies. Any outstanding loan and interest thereon is recovered from the claim proceeds at the time of settlement.

Also Read: LIC Jeevan Amar and Tech Term policies withdrawn, new policies swiftly launched. Find all details.

With this policy, you can ensure that you have a life insurance cover to protect your family, and a decent maturity sum to claim at the end of the term. Besides, the LIC Aadhaar Stambh policy will be your easy source for a quick loan, should you need it. 

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