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Launch Date Table No. UIN Status
6/4/2017 844 512N309V01 Active

About LIC Aadhaar Shila

  • LIC Aadhaar Shila is an endowment plan that offers a lump sum on maturity
  • Primary objective of this plan is investments with low risk returns
  • This plan is exclusively for females who own Aadhar Card
  • Nominal premium amount is to be paid under this plan
  • Medical tests are not required under this plan
  • Has a flexible policy term between 10 and 20 years

How Does This Plan Work?

Under this LIC Aadhaar Shila plan an individual especially a female chooses a policy term between 10 and 20 years. She pays regular annual premium for the entire policy term. On maturity, she receives Sum Assured on Maturity along with Loyalty Additions (if payable). Sum Assured on Maturity is Basic Sum Assured.

During the first five years of the policy term, if her unfortunate death occurs then her nominee would only get Sum Assured on Death. But if she dies anytime after fifth year during the policy term then her nominee would get Loyalty additions( if payable) along with Sum Assured on death.

The Sum Assured on Death is a higher value chosen from:

  • 10 times of annualised premium
  • Sum Assured on Maturity
  • 110% of Basic Sum Assured


Now let us understand this plan with the help of an example.


Woman’s age: 35 years
Sum assured: Rs 3 lakh
Policy term: 20 years
Premium paying term: 20 years

 A 35 years old woman agrees to pay Rs10,498 as an annual premium for a sum assured of 3 lakhs under LIC Aadhaar Shila plan for a term of 20 years. After the policy term ends, at maturity she will receive Basic Sum assured (Rs 3 lakhs) + Loyalty additions payable at 8% (Rs 49,500) as Maturity Benefit.

In-case of an unfortunate death of the woman occurs in the 6th year of the policy; her nominee will receive Sum assured on Death and loyalty additions (Rs7500).

The sum assured on death paid is a higher value from:

  • 10 times of annualised premium (Rs 1,04,980)
  • Sum Assured on Maturity (Rs 3 lakhs)
  • 110% of Basic Sum Assured (Rs 3,30,000)


So, the total death benefit received is of Rs 3,37,500.

Why should you buy LIC Aadhaar Shila plan?

  • LIC Aadhaar Shila is a low savings investment plan that offers high returns
  • This plan takes care of liquidity needs through auto cover and provides loan facility
  • Offers tax exemptions under Section 80C on premiums paid
  • Maturity amount is tax free 
  • If higher sum assured is opted for then LIC Aadhaar Shila plan offers tax rebates


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Who should buy LIC Aadhaar Shila plan?

  • Minimum and maximum entry ages are 8 years and 55 years
  • Minimum sum assured is Rs 75,000
  • Maximum age at maturity is 70 years
  • Women who are sole earning members that for an additional source of income that would be helpful for their child’s marriage
  • Individuals who want income tax benefits

Understand the Bonus Declared

A percentage of surpluses (profit) are declared by the insurer in the form of Loyalty Additions depending upon the number of years the insured has been with the company.
It is accrued at the end of every fifth year and paid to the nominee on death during policy term or to the insured on maturity
For this plan Loyalty rate is assumed to be calculated at Rs 11 per thousand of Sum Assured
For a sum assured of Rs 1,00,000  it would be 1.1%, then the amount of Rs 11,000 gets accumulated into the policy for that year.

Riders and Add-ons

Rider available with this plan is as follows:

LIC’s Accidental Death Benefit Rider: If the insured dies due to an accident, an additional lump sum benefit will be paid to his nominee.

Claim Process

Know Claim Process of LIC Aadhaar Shila

Claim Process

Company Overview

Life Insurance Corporation is an Indian state-owned insurance group and investment company headquartered in Mumbai. It is the largest insurance company in India with an estimated asset value of Rs.1560482 crore.


OneInsure is owned by Robinhood Insurance Broker Pvt. Ltd.

Robinhood is known for its user & customer centric approach. We take care of all the phases of insurance, whether you've bought the policy from us or not.


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Tab 2

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Tab 3

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