New Delhi: In its continued commitment to inclusive financial planning, the Life Insurance Corporation of India (LIC) has running a scheme, the LIC Aadhaar Shila Yojana, tailored specifically to empower female customers. Notably, LIC has garnered widespread trust for its low-risk, consumer-centric policies, and the latest offering further solidifies its dedication to catering to diverse financial needs.
Read More: Fixed Deposit New Rules: RBI Now Allows Premature Withdrawal on FDs up to Rs 1 Crore
LIC Aadhaar Shila Yojana: Return Calculator
The scheme’s structure is exemplified by a comprehensive illustration: for instance, if a 30-year-old individual deposits a modest sum of Rs 29 daily for 20 years, the total contribution at the end of the first year would amount to Rs 10,959, subject to a 4.5 percent interest rate.
Subsequently, the following year’s payment would stand at Rs 10,723. This strategic financial planning holds the potential to yield substantial returns, enabling participants to accumulate up to Rs 4 lakh by saving a modest sum of Rs 29 daily.
Read More: Making health insurance easy for senior citizens: Here’s how insurance costs can be managed
LIC Aadhaar Shila Scheme: Investment Amount
Under the LIC Aadhaar Shila Scheme, investors can make an initial investment ranging from Rs 75,000 to Rs 3 lakh, with the policy offering a minimum maturity period of 10 years and a maximum maturity period of 20 years.
Read More: India to become $30-trillion economy by 2047: Niti draft vision document
LIC Aadhaar Shila Plan: Payment Duration
Additionally, the scheme accommodates a maximum maturity age of 70 years, ensuring extended financial security for participants. The premium payments can be conveniently managed on a monthly, quarterly, half-yearly, or annual basis, enhancing accessibility and convenience for investors.
LIC Aadhaar Shila Scheme: Women Investors
With its explicit focus on addressing the financial well-being of women, the LIC Aadhaar Shila Yojana aims to empower female investors between the ages of 8 and 55, fostering a supportive and inclusive financial ecosystem.
