LIC Aadhaar Stambh Plan 943

LIC Aadhaar Stambh Plan 943 Overview

LIC Aadhaar Stambh Plan 943 is a low-cost, regular premium, non-linked endowment assurance plan designed exclusively for male lives holding an Aadhaar card. It offers financial security for the family in case of untimely demise of the policyholder and a lump sum amount at the time of maturity.

Eligibility & Rules

• Death Benefit: "Sum Assured on Death" (higher of 7x annualized premium or 100% of Basic SA) + Loyalty Addition.
• Maturity Benefit: Basic Sum Assured + Loyalty Addition payable on survival till end of the term.
• Auto Cover Facility: Life cover continues for up to 2 years if policy lapses after paying 5 years premium.

Key Plan Benefits

• Death Benefit: "Sum Assured on Death" (higher of 7x annualized premium or 100% of Basic SA) + Loyalty Addition.
• Maturity Benefit: Basic Sum Assured + Loyalty Addition payable on survival till end of the term.
• Auto Cover Facility: Life cover continues for up to 2 years if policy lapses after paying 5 years premium.

Standard Policy Features

• Grace Period: 30 days for Yearly, Half-Yearly, and Quarterly premium payment modes, and 15 days for Monthly mode.
• Free Look Period: 30 days from the date of receipt of the policy document to review the terms and conditions.
• Loan & Surrender Facility: The policy acquires a Surrender Value and Loan facility after the payment of 2 full years' premiums.
• Tax Benefits: Premiums paid are eligible for tax deduction under Section 80C, and maturity/death benefits are tax-free under Section 10(10D), subject to prevailing tax laws.

Example Calculation

Note: The values shown above are indicative examples. Actual premiums and maturity amounts may vary based on exact age, riders, and declared bonus rates.