LIC Aadhaar Stambh Plan 943 Calculator
UIN: 512N310V03
Launch Date: 01 August 2022
Withdrawal Date: 01 January 2025
Plan Type: Non-Linked Participating Endowment Plan (For Male Lives Only)
Premium Calculation Results
The Life Insurance Corporation of India (LIC) has introduced several innovative insurance plans to cater to the needs of diverse customers. One such plan was the LIC Aadhaar Stambh Plan 943, designed exclusively for male lives with Aadhaar cards issued by UIDAI.
This unique plan was both a protection and savings endowment plan, offering financial security and a savings component in one package. To make the most of this plan, LIC provided a Calculator tool that helps prospective buyers estimate premiums, maturity benefits, and other policy-related values easily.
Introduction to LIC Aadhaar Stambh Plan 943
The LIC Aadhaar Stambh Plan (Plan No. 943, UIN No. 512N310V03) was a Non-Linked, Participating, Individual Life Assurance Plan. It was designed specifically for males, aged between 8 and 55 years, who hold an Aadhaar card. This plan blended savings with protection, making it an ideal choice for those seeking to secure their family’s financial future in case of unforeseen events.
This plan was launched on 1st August 2022 and was recently withdrawn from the market on 1st January 2025. Despite its withdrawal, understanding this plan and how the associated calculator operates remains relevant for buyers looking for similar endowment insurance plans or evaluating past investments.
Key Features of LIC Aadhaar Stambh Plan 943
- Plan Type: Non-Linked, Participating Endowment Plan
- Eligibility: Male lives only, between the ages of 8 and 55 years (nearest birthday)
- Policy Term: Ranged from 10 to 20 years
- Premium Payment Term: Equal to policy term
- Maximum Maturity Age: 70 years (nearest birthday)
- Sum Assured: Minimum Rs. 75,000; Maximum Rs. 3,00,000 in multiples of Rs. 5,000 (for sums up to Rs. 1,50,000) and Rs. 10,000 for sums above Rs. 1,50,000
- Loan Facility: Available after payment of at least two full policy years
- Surrender Value: Available if premiums paid for at least two years
- Tax Benefits: Premiums eligible for deduction under Section 80C of the Income Tax Act; maturity proceeds exempt under Section 10(10D)
- Suicide Clause: Provides 80% of premium paid if suicide occurs within 12 months of risk commencement with certain conditions
- No Medical Tests: Available to standard lives without medical tests
- Coverage: Financial support in case of unfortunate death before maturity and lump sum on maturity
This plan was especially popular due to its convenience, simple eligibility, and affordable premiums tailored for middle-income male policyholders with Aadhaar identification.
Eligibility Criteria
| Parameter | Detail |
|---|---|
| Minimum Entry Age | 8 years (completed) |
| Maximum Entry Age | 55 years (nearest birthday) |
| Policy Term | 10 to 20 years |
| Sum Assured | Min Rs. 75,000; Max Rs. 3,00,000 |
| Minimum Premium Term | Equal to policy term |
| Loan Facility | Available after at least two full premium years |
Benefits of LIC Aadhaar Stambh Plan 943
Death Benefit
In the event of the insured’s death during the policy term, the nominee receives the sum assured along with accrued bonuses, providing financial protection to the family.
Maturity Benefit
If the policyholder survives the policy term, a lumpsum maturity amount comprising the sum assured plus bonuses is paid, providing a savings boost.
Loan Facility
Policyholders can avail loans against the policy after paying premiums for at least two years. This provides liquidity in case of financial emergencies.
Surrender Value
The policy can be surrendered after at least two years of premium payment, and the surrender value (higher of guaranteed or special surrender value) is paid.
Tax Benefits
Premiums paid under this plan qualify for tax deductions under Section 80C, while maturity proceeds are exempt under Section 10(10D) of the Income Tax Act.
No Medical Tests Required
The plan was designed to be accessible with no mandatory medical tests, making it simpler to buy for standard healthy lives.
Launch and Withdrawal Dates
- Launch Date: 1st August 2022
- Withdrawal Date: 1st January 2025
The withdrawal was part of LIC’s periodic plan reviews to streamline offerings and introduce newer or modified plans aligned with market needs.
Understanding the LIC Aadhaar Stambh Plan 943 Calculator
The LIC Aadhaar Stambh Calculator was an online tool to help users estimate their premium payments, maturity benefits, surrender values, and other important values based on inputs like age, sum assured, and policy term.
How It Works
- Inputs Required: Age of the policyholder, Sum Assured, Policy Term, and occasionally the mode of premium payment.
- Calculation: Using actuarial formulas and official LIC bonus rates, the calculator would project yearly premiums and the eventual maturity or death benefits.
- Output: Displays the projected maturity amount, yearly premium payable, surrender value estimates, and loan eligibility.
This tool helped users make informed decisions by giving a clear picture of the financial commitment and benefits throughout the policy period.
Stepwise Guide to Using the LIC Aadhaar Stambh Calculator
- Visit the LIC official website or a trusted LIC calculator tool platform.
- Enter your Age: Make sure it is between 8 to 55 years.
- Select Sum Assured: Choose an amount within the allowed range of Rs. 75,000 to Rs. 3,00,000.
- Choose Policy Term: Between 10 to 20 years.
- Select Premium Payment Mode: Annual, half-yearly, quarterly, or monthly.
- Calculate: Hit the calculate button to get the result.
- Review the Output: Check the premium amount payable, expected maturity benefits, and other values.
This calculator gave an instant and accurate preview of what to expect from the plan financially.
LIC Aadhaar Stambh: Advantages for Policyholders
- Affordable Premiums: The plan was designed especially for males with moderate incomes, offering an affordable premium structure.
- Flexibility in Terms: Policy terms offered flexibility between 10 and 20 years, suiting different savings horizons.
- Simple Buying Process: Aadhaar card only was required with minimal documentation.
- Dual Benefit: Offers both protection and savings in a single scheme.
- Bonuses: As a participating plan, it provided regular bonuses, enhancing returns.
These benefits gave confidence to policyholders, knowing they had life cover and a disciplined savings plan.
Important Considerations and Limitations
- Exclusively for Male Lives: Female applicants were not eligible for this plan.
- Maximum Sum Assured Restriction: The maximum sum assured limit was Rs. 3,00,000 which may not be sufficient for high-income individuals.
- Withdrawn Plan: Since withdrawn in 2025, new policy issuance is discontinued, but existing policyholders continue under prevailing terms.
- No Rider Facility: The plan does not allow adding extra benefits like critical illness or accidental death riders.
How LIC Aadhaar Stambh Compares to Other LIC Endowment Plans
| Feature | LIC Aadhaar Stambh Plan 943 | Other LIC Endowment Plans (e.g., Jeevan Saral) |
|---|---|---|
| Eligibility | Male only, 8-55 years | Both Male & Female, broader age range |
| Sum Assured Range | 75,000 – 3,00,000 | Typically higher and more flexible |
| Policy Term | 10 to 20 years | Varied terms available |
| Medical Tests | Not Required | Often required |
| Loan Facility | Available after 2 years | Available |
| Premium Payment | Annual, Half-Yearly, Quarterly, Monthly | Similar options |
| Applicable Riders | None | Some plans offer riders |
| Plan Status | Withdrawn (from 2025) | Active |
Tax Benefits Explained
Premiums paid under LIC Aadhaar Stambh were eligible for tax deductions under Section 80C up to Rs. 1,50,000 per annum. Further, the maturity proceeds were exempt from tax under Section 10(10D), making it a tax-efficient savings tool in addition to protection.
Tips for Prospective Buyers
- Since this plan is now withdrawn, examine other current LIC endowment or money-back plans.
- Use LIC’s official online calculators specific to new plans for premium and maturity estimates.
- Always verify the latest plan brochures and official LIC announcements.
- Consider your risk cover needs: the Rs. 3 lakh maximum sum assured may be insufficient for large families.
- Check for rider options for enhanced coverage.
- Focus on plans offering flexible premium payment modes for your convenience.
Frequently Asked Questions
What is LIC Aadhaar Stambh Plan 943?
It is a non-linked, participating endowment life insurance plan exclusively for male lives with Aadhaar cards, offering savings and protection benefits.
Who is eligible to buy the Aadhaar Stambh Plan 943?
Only male individuals aged 8 to 55 years (nearest birthday) holding Aadhaar cards are eligible to purchase this plan.
What is the policy term for Aadhaar Stambh Plan 943?
The policy term ranges from 10 to 20 years, and the premium payment term is equal to the policy term.
Can I avail of a loan on this policy?
Yes, a loan facility is available after paying premiums for at least two full policy years.
What happens if the policyholder dies during the policy term?
The nominee receives the sum assured along with accrued bonuses as the death benefit.
Conclusion
The LIC Aadhaar Stambh Plan 943 was an innovative, endowment life insurance plan designed with simplicity and affordability for male policyholders holding Aadhaar cards. With its combined benefit of savings and life cover, it served as a stable financial instrument for many. Though withdrawn as of January 2025, its concept and calculator remain good examples for understanding LIC’s approach to tailored life insurance plans.