This policy of LIC is special for women, more benefit in less investment

This policy of LIC is special for women, more benefit in less investment

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LIC Aadhaar Shila Plan: Life Insurance Corporation of India (LIC), the country’s largest insurance company, keeps launching more than one policy for the people. From children to the elderly, LIC definitely has some policy for every category. LIC has also launched some such plans for women which provide them financial security. One such plan is LIC Aadhaar Shila Policy.

LIC’s Aadhar Shila Yojana provides women with savings as well as protection at the same time. It has been specially designed for those women who have an Aadhaar card given by the Unique Identification Authority of India- UIDAI. This plan provides financial assistance to the family of the policyholder (on death) before maturity. And on the maturity of the policy, a lump sum amount is paid to the policyholder.

many benefits
LIC Aadhar Shila Yojana is a non-linked participatory endowment plan designed to increase savings and financial security in case of emergency. Under this plan, the policyholder has to pay the premium monthly, quarterly, half yearly or annually. After the end of the policy term, a lump sum amount is paid to the policy holder. This plan has been prepared for women of 8 to 55 years.

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In this policy, women get benefits in many ways. For example, in this policy, any woman can take an insurance plan from a minimum of Rs 75 thousand to a maximum of Rs 3 lakh.

LIC Aadhaar Shila Plan Benefits
Under this plan, the policyholder gets benefits like tax benefits, free look period, grace periods, loan and maturity benefits.

The premium deposited in Aadhar Shila Yojana is exempt from tax under section 80C of the Income Tax Act as a tax benefit and the maturity amount is also tax free under section 10(10D). No tax will be applicable on death claim also.

Under the free look period, if the policy holder wants to cancel the policy after purchasing the policy, then the policy can be canceled within 15 days. Loan against this policy can also be taken after paying premiums continuously for 3 years. If you surrender this policy before paying premium for 3 years, you will not get any surrender value.

Know more about LIC’s Aadhar Shila Plan LIC’s Aadhaar Shila can be obtained from the link.

Tags: insurance, Investment tips, Life Insurance, Personal finance

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