All You Need to Know About LIC Aadhaar Stambh Policy

Table of Content

Introduction to the LIC Aadhaar Stambh Policy
Benefits of Investing in the LIC Aadhaar Stambh Policy
Eligibility Criteria for the LIC Aadhaar Stambh Policy
Calculate Returns from the LIC Aadhaar Stambh Policy
Documents Needed for Applying for the LIC Aadhaar Stambh Policy
Other Investment Options Comparable to the LIC Aadhaar Stambh Policy

Are you a young adult looking for a smart investment option that can offer financial protection and growth potential? Look no further than the LIC Aadhaar Stambh Policy! This policy not only provides life coverage but also allows you to save money and earn attractive returns. With its flexible premium payment options, tax benefits, and simplified application process, it’s no wonder why this policy is becoming increasingly popular among young investors. In this post, we’ll explore all the reasons why the LIC Aadhaar Stambh Policy should be at the top of your investment list. So buckle up and get ready to learn about one of the best investment choices available for young adults today!

Introduction to the LIC Aadhaar Stambh Policy

The LIC Aadhaar Stambh Policy is a unique policy that offers financial protection to the family of the policyholder in the event of their untimely death. The policy provides for a lump sum payment to the nominee in the event of the policyholder’s death. The policy also offers additional benefits such as accident and disability cover.

Benefits of Investing in the LIC Aadhaar Stambh Policy

The LIC Aadhaar Stambh policy is a unique life insurance policy that offers several benefits to the policyholder. Some of the key benefits of investing in this policy are mentioned below:

• The policy provides financial protection to the family of the policyholder in case of his/her untimely death.

• It offers a lump sum benefit to the nominee in case of the policyholder’s death.

• The maturity benefit received under this policy is exempted from income tax.

• The policy also offers certain additional benefits like accident and disability cover.

Eligibility Criteria for the LIC Aadhaar Stambh Policy

The LIC Aadhaar Stambh Policy is a life insurance policy that offers financial protection to the family of the policyholder in case of his/her death. The policy can be purchased by any Indian citizen who is aged 18 years or above and has a valid Aadhaar card. The policy term ranges from 5 years to 30 years, and the sum assured starts from Rs.1 lakh and goes up to Rs.5 lakhs. The premium for this policy is very affordable, starting from just Rs.330 per year for a sum assured of Rs.1 lakh.

How to Calculate Returns from the LIC Aadhaar Stambh Policy

Assuming you have already paid the premium for your LIC Aadhaar Stambh policy, here is how you can calculate the returns from the policy:

The first step is to find out the sum assured on your life. This can be found in the policy document or by contacting customer care. The sum assured is the guaranteed amount that will be paid out to your beneficiaries in case of your death.

The second step is to find out the rate of return on the policy. This can also be found in the policy document or by contacting customer care. The rate of return is generally a percentage of the sum assured and is used to calculate the maturity value of the policy.

The third and final step is to calculate the maturity value of the policy using the following formula:

Maturity Value = Sum Assured + (Sum Assured * Rate of Return)

For example, if your sum assured is Rs. 1 lakh and your rate of return is 10%, then your maturity value would be Rs. 1 lakh + (Rs. 1 lakh * 10%) = Rs. 2 lakhs.

Documents Needed for Applying for the LIC Aadhaar Stambh Policy

Individuals who wish to apply for the LIC Aadhaar Stambh Policy will need to provide the following documents:

-A copy of their Aadhaar card

-A copy of their PAN card

-A copy of their bank passbook or statement

-A completed application form

-Proof of age (such as a birth certificate or passport)

-Proof of identity (such as a driver’s license or passport)

Other Investment Options Comparable to the LIC Aadhaar Stambh Policy

When it comes to investment options, the LIC Aadhaar Stambh Policy is just one of many. There are a variety of other options available that offer comparable benefits. Here are a few examples:

The SBI Bluechip Fund is one option that offers similar benefits to the LIC Aadhaar Stambh Policy. The fund has a minimum investment amount of Rs. 5,000 and offers an annual return of up to 15%.

Another option is the HDFC Mid-Cap Opportunities Fund. This fund has a minimum investment amount of Rs. 1 lakh and offers an annual return of up to 17%.

For those looking for a more conservative investment option, the Birla Sun Life Savings Fund is a good choice. This fund has a minimum investment amount of Rs. 1,000 and offers an annual return of up to 8%.

Conclusion

LIC Aadhaar Stambh Policy is a great option if you are looking for an affordable, long-term life insurance coverage with additional benefits. The policy provides adequate protection and savings to meet your financial goals in the long run. With flexible premium payment options and tax deductions available, this policy is a smart choice for anyone who wants to secure their future. So, go ahead and explore more about the LIC Aadhaar Stambh Policy today!