LICs AADHAAR SHILA–Plan No. 844
Regular Premium Endowment Assurance Plan
Exclusively designed for Female Lives
Aadhaar Card issued by UIDAI mandatory
Available for Standard healthy lives
S.A. maximum 3 lakhs
On survival to the end of the policy term
“Sum Assured on Maturity” along with
Loyalty Addition, if any, shall be payable.
Where “Sum Assured on Maturity” is equal to
Basic Sum Assured.
On death during first five years: “Sum Assured on Death” shall be payable.
On death after completion of five policy years but before the date of maturity:
“Sum Assured on Death” and Loyalty Addition, if any, shall be payable.
Where “Sum Assured on Death” is defined as the higher of 10 times of
annualised premium OR Absolute amount assured to be paid on death, i.e.
110% of Basic Sum Assured.
The death benefit shall not be less than 105% of all the premiums paid as on
date of death.
Accident Benefit Rider :
Accident Benefit Rider is available as an optional rider by
payment of additional premium during the term of the policy.
Under an inforce policy the LIC’s Accident Benefit Rider can be
opted for at any time within policy term of the Base Policy
provided, the outstanding policy term of the Base Policy is atleast
If this benefit is opted for, and if Life Assured is involved in an
accident, leading to death and such incident shall occur within
180 days from the date of accident then an additional amount
equal to the Accident Benefit Sum Assured is payable. However,
the policy shall have to be in force at the time of accident
irrespective of whether or not it is in force at the time of death.
Auto Cover Period:
“Auto Cover Period” under a paid-up policy is the period from due
date of first unpaid premium (FUP), which includes the Grace
Period. The applicable duration of Auto Cover Period shall be as
If at least three full years’ but less than five full years’ premiums
have been paid in respect of a policy and any subsequent
premium is not duly paid: Auto Cover Period of six months from
the due date of first unpaid premium (FUP) shall be available.
If at least five full years’ premiums have been paid in respect of a
policy and any subsequent premium is not duly paid: Auto Cover
Period of two years from the due date of first unpaid premium
(FUP) shall be available.
Minimum Age at entry : 8 years (completed)
Maximum Age at entry : 55 years (nearest birthday)
Minimum Policy Term : 10 years
Maximum Policy Term : 20 years
Maximum Age at Maturity : 70 years (nearest birthday)
Minimum Basic Sum Assured per life : Rs. 75,000/-
Maximum Basic Sum Assured per life : Rs. 300,000/-
The Basic Sum Assured shall be in multiples of Rs.5,000/- from Basic Sum Assured Rs. 75,000 to
Rs. 1,50,000/- and Rs.10,000/- for Basic Sum Assured above Rs.1,50,000/-.
“The total Basic Sum Assured under all policies issued to an individual under this plan shall not
exceed Rs. 3 lakh”. These wordings have to appear in the First Premium Receipt (FPR) and in the
policy document for every policy under this plan.
Age at entry for the Policyholder is to be taken as age nearest birthday except for the minimum age
at entry i.e. 8 years, where it is in completed years.
Eligibility Conditions and Restrictions:
For Accident Benefit Rider:
• Minimum Entry Age :18 years (completed)
• Maximum Entry Age : The cover can be opted for at any time within policy
term of the Base Policy provided, the outstanding
policy term of the Base Policy is atleast five years.
• Maximum cover ceasing Age : Same as under the base plan.
• Minimum Accident Benefit Sum Assured : Rs. 20,000/-
• Maximum Accident Benefit Sum Assured: An amount equal to the Basic Sum
Assured under the Basic Plan subject to the maximum of Rs.100 lakh overall limit
taking all existing policies of the Life Assured under individual as well as group
schemes including policies with inbuilt accident benefit taken with Life Insurance
Corporation of India and the Accident Benefit Sum Assured under the new proposal
• The Accident Benefit Sum Assured shall be in multiples of Rs. 5,000/-.
MODE OF PREMIUM PAYMENT
The modes of premium payment allowable are :
Monthly ( through NACH only or through salary deductions)
Loan facility is available under this plan, after
payment of premiums for at least 3 full years
subject to certain conditions.
The policy can be surrendered at any time
during the policy term provided atleast three
full years’ premiums have been paid.