New Delhi, Business Desk. In today’s rapidly changing era, everyone wants to buy an insurance policy. Its target is investment, health and life cover. However, each person’s needs and preferences vary. For this reason, a policy does not prove to be effective for everyone. Life Insurance Corporation of India (LIC) offers insurance policies from time to time according to the needs of different classes of people. LIC’s Aadhaar Shila Plan is one such scheme, which the company has brought, especially for women. As is clear from the name, this scheme is for women who have Aadhaar card.
- LIC launched this plan on February 1, 2020.
- This policy provides life cover as well as savings.
- When this policy is matured, the policy holder gets a lump sum.
- However, the family gets the assistance when the policy holder dies.
Who can take this policy
The minimum age limit for investment in this scheme is eight years. Maximum 55 years old woman can take this policy. At the same time, the policyholder’s age should not be more than 70 years at the time of maturity. The term of the policy is 10 to 20 years.
How many policy can you take for an assured
The scheme can be availed with a sum assured of at least Rs 75,000. At the same time, the maximum sum assured can be three lakh rupees.
Payment of premium
Premiums can be paid on an annual, half-yearly, quarterly or monthly basis under this plan. If you want, you can also keep the option of auto debit from the account for a policy term.
What is the expert’s opinion
Regarding LIC’s Aadharshila plan, SEBI Registered Investment Advisor Jitendra Solanki said that generally, returns on traditional plans do not get very high. He said that the reason is that its cost is high, due to this, it does not get too much return nor does it get very high value life cover. However, investors who do not want to take any risk at all can invest in the s
