Every social group is covered by LIC's (Life Insurance Corporation of India) policies which makes it the market leader in the insurance sector. Plans are also available for all income levels.
For low- and middle-income groups, the LIC Aadhaar Shila policy offers a minimum sum assured of Rs. 75,000 and a maximum value assured of Rs. 3 lakhs. You can invest a measly amount each day in the LIC Aadhaar Shila scheme. Like most LIC plans, it is an investment for the long term. Additionally, it provides death insurance.
When the investment matures, an individual who invests Rs. 58 every day will receive lakhs of rupees. Let's look at the main components of the plan. The death benefit is seven times the yearly premiums and 110 percent of the initial benefit. The basic sum promised ranges from Rs. 75,000 to Rs. 3 lacs.
Entry requirements include a minimum age of 8 and a maximum age of 55. Ten to twenty years is the policy term. Only women are eligible for this scheme. The minimum term of the strategy is between ten and twenty years. The age at which someone reaches adulthood is 70. The feature of loyalty adding is also present.
If you invest at the rate of Rs. 58 per day and are 20 years old, you will have made an annual investment of Rs. 21918. Your initial investment will have grown to Rs 429392 after 20 years. When the scheme matures, you will receive Rs. 794000.
