Women PPF Scheme: LIC has launched two new life insurance plans namely LIC Aadhaar Shila & Aadhaar Stambh. LIC Women PPF Scheme is a gret intiative for the women empowerment. LIC claims that Aadhaar Shila life insurance policy has been exclusively designed for Female lives who are having Aadhaar card.
Women PPF Scheme
Public Provident Fund: Public Provident Fund (PPF) is an investor and tax-saver’s favorite long-term debt scheme which is under the aegis of the government. A minimum of Rs.500 and a maximum of Rs 1.50 lakh can be deposited in a PPF account in a single financial year. This deposit amount is also deductible from taxable income under section 80C of the Income Tax Act. As PPF is an EEE scheme, contribution, interest and maturity amount, all three are tax free.
Women PPF Scheme | LIC Aadhaar Shila | Aadhaar Stambh |
One of the most popular ‘news topic’ that has been doing the rounds now is Aadhaar. Almost every adult Indian knows what is Aadhaar number and its importance. I believe that LIC has launched this new plan keeping in view of the popularity of the word ‘Aadhaar’.
I believe that there are no ‘exclusive’ features in this insurance policy for female lives and can be ignored in case your requirement is to get adequate life insurance cover.
LIC Aadhaar Shila plan (Table 844) is a typical with profit, non-linked regular premium paying Endowment assurance plan.
LIC Aadhaar Shila (Life insurance plan for Females only) | LIC Women PPF Scheme |
Below are the main features of LIC’s new plan for females:
- Minimum Sum Assured : Rs 75,000
- Maximum Sum Assured : Rs 3,00,000
- Minimum Policy Term : 10 years
- Maximum Policy Term : 20 years
- Available for : Female Lives only
- Age at entry : 8 years
- Maximum age at maturity : 70 years
- Type of Plan : Endowment
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