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LIC Women Plans

LIC Women plans


LIC of India plans are common for both male and female.

At the same time, LIC of India has made a special provision for females dependents. It is called as  Married Women’s Property Act 1874 (MWP Act).

Married Women’s Property Act 1874 (MWP Act) was created to protect the properties owned by women from relatives, creditors and even from their own husbands. This provision would be a biggest life saver in many cases. The Section 6 of the MWP Act covers life insurance plans. 

But, recently introduced plan LIC Aadhaar Shila ( Plan : 844 ) given some exclusive benefit to female proposer.

Nowadays Aadhaar number is very important for every purpose. Keeping this in mind, LIC had introduced  new plan LIC Aadhaar Shila, plan 844 recently. 


Features of LIC Aadhaar Shila Plan : 

  • Only for female lives
  • Aadhaar card is a must
  • Minimum Sum Assured is Rs 75,000
  • Maximum Sum Assured is  Rs 3,00,000
  • Minimum Policy Term is 10 years
  • Maximum Policy Term is 20 years
  • Minimum age at entry : 8 years
  • Maximum age at maturity : 70 years
  • like other plans, All mode of payments are available

LIC Aadhaar Shila Plan benefits :

  • Death Benefit under Aadhaar Shila LIC Plan :
    • On death during first Five Years of the policy ;
      • Death claim amount  equal to 110% of Basic Sum Assured is payable to the Nominee.
    • On death after 5 years of the policy and before maturity:
      • Death claim amount will be equal to 110% Basic Sum Assured + Loyalty Addition (LA). (So, Loyalty addition is applicable after 5 policy years only)
  • Maturity Benefit under LIC Aadhaar Shila Policy : If the Life Assured survives till the end of the policy term, “Sum Assured on Maturity” along with Loyalty Addition, if any will be payable to the Life Assured.
  • Auto Cover Benefit : In case, policy holder does not pay the life insurance premium, the policy will be converted as ‘Paid-up Policy.’ But, under LIC Aadhaar Shila plan, full risk cover is available (for certain extended period) to the policy holder even if the regular premium is not paid. This duration is termed as ‘Auto Cover Period‘.
    • If  three policy year premiums have been paid (but less than five full years’ premium have been paid) and any subsequent premium is not paid then “Auto Cover period” of six months from the due date of the first unpaid premium (FUP) will be available to the policyholder.
    • If five policy year premiums have been paid and any subsequent premium is not duly paid: “Auto Cover period” of 2 years from the due date of the first unpaid premium will be available.