LIC Aadhaar Stambh Plan 843 Calculator

LIC Aadhaar Stambh Plan 843 was a special endowment assurance plan from LIC, designed exclusively for male policyholders who possess an Aadhaar card.

LIC Aadhaar Stambh Plan 843

LIC Aadhaar Stambh Plan 843 was a non-linked, regular premium-paying endowment plan, aimed at providing protection and savings under one policy for male lives with an Aadhaar card. It offered life coverage in the case of death and a lump-sum maturity benefit for surviving policyholders, promoting savings with tax benefits.​

Launch and Withdrawal Dates

• Launch Date: 24th April 2017.​
• Withdrawal Date: 1st February 2020.​

This plan is no longer available for new purchases, but existing policyholders continue to receive the promised benefits.​

Eligibility Criteria

• Gender: Male only, Aadhaar card mandatory.​
• Age at Entry: 8 years (minimum), 55 years (maximum).​
• Policy Term: 10 to 20 years.​
• Sum Assured: ₹75,000 (minimum) to ₹3,00,000 (maximum).​
• Premium Payment Term: Same as the policy term; modes: yearly, half-yearly, quarterly, monthly (NACH/SSS).

Key Features

• Low-cost savings plan for male Aadhaar card holders.​
• No medical test required for standard healthy lives.​
• Loyalty Addition dependent on LIC’s performance.​
• Accident and Disability Benefit Rider available.​
• Option to receive death or maturity benefit in installments over 5 years.
• Grace Period:
  • Yearly/Half-yearly/Quarterly modes: 30 days
  • Monthly mode: 15 days
• Auto Cover after missing premiums (6 months to 2 years based on years of payment.

Premium Calculation

Premiums are calculated based on age, term, sum assured, and mode of payment.

• Mode Rebate: Yearly (2%), Half-yearly (1%), others (Nil).​
• Sum Assured Rebate: Varies; higher rebates for larger sum assured.

Example Table

LIC Aadhaar Stambh Calculator

A dedicated LIC Aadhaar Stambh Plan 843 calculator lets users estimate premium amounts, maturity returns, and death benefits simply by inputting age, term, sum assured, and premium payment mode. Tools like those at Insurance and InsuranceFunda provide real-time, year-wise calculations for actual and projected benefits.​

How It Works:

• User inputs policyholder details (age, sum assured, term).
• The calculator computes yearly premium, total premiums paid, maturity amounts, death claims, and projected loyalty additions.​

Benefits of the Plan

Protection and Savings

• Death Benefit: Pays higher of (7 times annual premium or 100% sum assured), not less than 105% of total premiums paid. Loyalty Addition applies after 5 years.
• Maturity Benefit: Sum assured on maturity plus loyalty addition, if any, provided all due premiums are paid.
• Auto Cover Period: If 3+ years premiums paid, 6 months cover; if 5+ years, 2 years cover after unpaid premium.
• Loan: Available after 3 full years’ premium payment.​

Maturity and Death Benefit Examples

Maturity Illustration

For a 35-year-old, 20-year policy, ₹2,00,000 sum assured:

• Yearly premium: ₹7,869.
• Total premium paid in 20 years: ₹1,57,380.
• Maturity benefit: ₹2,00,000 + Loyalty Addition (assumed ₹33,000 at 8% return).

Death Benefit Example

• If death occurs before 5 years: Only sum assured
• If after 5 years: Sum assured + Loyalty Addition
• Accidental death: Additional sum assured with the Accident Benefit Rider.​

Loyalty Addition

This is a bonus declared by LIC based on its performance and provided to policyholders after 5 years of successful payments. In case of death after 5 years, this bonus is also added to the claim amount.​

Surrender and Loan Facility

• Surrender: Allowed after 2 consecutive years of premium payment. Guaranteed and Special Surrender Values apply.
• Loan: Up to 90% of surrender value for in-force policies, 80% for paid-up policies, at prevailing loan interest rates.

Calculator Tool UI and Usage

Online calculators are available from portals like LIC Calculator and Policy Bazaar, requiring user entry of essential parameters to give real-time, clear results. These calculators demonstrate year-wise benefit values for easy user understanding.​

Actual Plan Example

Let’s review an example of a policy purchased by a 28-year-old male for ₹3,00,000 sum assured, for 20 years.

Important Rules and FAQs

• If premiums lapse: Auto Cover (6 months/2 years based on full years paid); revival allowed within 5 years of lapse.
• Settlement Option: Maturity/death benefit can be received as installments over 5 years, instead of lump sum.
• Paid-up Policy: If premiums unpaid after 2 years, a reduced paid-up value is provided.

Tax Benefits

• Premiums paid qualify for deduction under Section 80C of the Income Tax Act.​
• Maturity proceeds are tax-free under Section 10(10D).​

Policy Revival

After lapse, policy can be revived within 5 years by paying arrears and satisfying health requirements; interest rates apply as per G-Sec rates.

Settlement Options

Policyholders may opt to get maturity or death benefit as annual, half-yearly, quarterly, or monthly installments rather than as a lump sum. Minimum amounts apply per mode (e.g., ₹5,000/monthly), and the first payment happens at maturity/death.

Riders Available

• Accident Benefit Rider: Provides additional accidental death coverage up to the basic sum assured, available for policies with an outstanding term of at least 5 years.

Policy Exclusions

• Suicide Clause: Limited benefit if the policyholder dies within 12 months from policy commencement or revival (80% of premiums paid or surrender value, whichever higher.

How to Use the Calculator (Step-by-Step)

1. Go to a LIC Aadhaar Stambh calculator page (like LIC Calculator, InsuranceFunda, OneInsure).​
2. Enter the policyholder’s age, sum assured, policy term, and premium payment mode.
3. View the output for yearly premium, total premium paid, maturity sum, projected loyalty addition, and death benefit.
4. Adjust input values to see year-wise changes and benefits.
5. Save results or print for reference.

FAQ Section

Conclusion

LIC Aadhaar Stambh Plan 843 was tailored for easy access to savings and protection for male Aadhaar card holders, making financial security affordable with simple conditions, transparent calculation tools, and broad benefits. Although now withdrawn, its structure and calculator tools remain valuable reference points for understanding LIC’s customer-centric products and for benefit estimation by existing policyholders and financial advisors.​