Aadhar Shila Plan 944

Aadhaar Shila Plan 944

🧕 What is LIC Aadhaar Shila Plan 944?

It is a limited-premium, endowment plan suitable for housewives, working women, and young girls (minimum age 8 years).


FeatureDescription
Plan TypeNon-linked, Participating, Endowment
Gender EligibilityOnly for female lives with Aadhaar card
Maturity BenefitBasic Sum Assured + Loyalty Additions (if any)
Death BenefitFinancial protection for the family
Premium Payment TermLimited premium payment
Tax BenefitsUnder Sections 80C and 10(10D)
Policy ParticipationEligible for loyalty additions (after 5 policy years)
Loan FacilityAvailable after 3 years

ParameterDetails
Minimum Age at Entry8 years (completed)
Maximum Age at Entry55 years (nearest birthday)
Policy Term10 to 20 years
Premium Paying TermSame as policy term
Minimum Sum Assured₹75,000
Maximum Sum Assured₹3,00,000
Maximum Maturity Age70 years (nearest birthday)
Premium Paying ModesYearly, Half-Yearly, Quarterly, Monthly (ECS)

1. ✅ Maturity Benefit

If the policyholder survives the policy term:

  • Basic Sum Assured + Loyalty Addition (if any) will be paid.

2. ☠️ Death Benefit

If the policyholder dies during the policy term:

  • Before risk commencement (for age below 8 years): return of premiums (excluding taxes and rider premiums)
  • After risk commencement: Sum Assured on Death + Loyalty Addition (if any)

Sum Assured on Death is higher of:

  • 10 times of annualized premium, OR
  • 105% of all premiums paid (excluding taxes), OR
  • Basic Sum Assured

3. 💸 Loyalty Addition

  • Payable on maturity or death (after completing 5 years)
  • Depends on LIC’s performance (non-guaranteed)

4. 🏦 Loan Facility

Available after payment of 3 full years’ premiums.


Available for individuals aged 18 years and above by paying extra premium. The rider provides additional amount in case of accidental death or disability.


Let’s understand this with an example.

👩 Profile:

  • Policyholder Name: Priya
  • Age: 30 years
  • Policy Term: 20 years
  • Sum Assured: ₹2,00,000
  • Premium Mode: Yearly
  • Annual Premium: ₹6,155 (excluding taxes)

ParticularsValues
Age at Entry30 years
Policy Term20 years
Premium Paying Term20 years
Sum Assured₹2,00,000
Yearly Premium₹6,155
Total Premium Paid₹1,23,100 (₹6,155 × 20)
Maturity YearAfter 20 years (Age 50)

ComponentAmount (₹)
Basic Sum Assured₹2,00,000
Loyalty Addition (est.)₹70,000
Total Maturity Payout₹2,70,000

If Priya dies in the 10th policy year, the nominee will get:

  • Sum Assured on Death = Higher of:
    • 10 × Annualized Premium = ₹61,550
    • 105% of Premiums Paid = ₹64,627
    • Basic Sum Assured = ₹2,00,000

So, ₹2,00,000 + Loyalty Additions (if applicable) will be paid to the nominee.


Policy YearAgeAnnual PremiumSum AssuredLoyalty AdditionLoan Eligible?
130₹6,155₹2,00,000NIL
332₹6,155₹2,00,000NIL
534₹6,155₹2,00,000Starts Accruing
1039₹6,155₹2,00,000Moderate
2049₹6,155₹2,00,000₹70,000 (est.)

FeatureDetails
Risk CoverStarts immediately (after age 8)
Grace Period30 days (yearly/HY), 15 days (monthly)
Revival Period5 years from the date of first unpaid premium
SurrenderAllowed after 3 full years of premium payment
Tax BenefitsUnder Section 80C and 10(10D)
Nomination & AssignmentAllowed
BackdatingPermitted within same financial year
Cooling-off Period15 days from policy receipt

LIC Aadhaar Shila Plan 944 is ideal for women seeking a simple and secure savings + insurance combo with minimal investment. It’s best suited for:

  • Young women (ages 8–40)
  • Homemakers wanting life cover + savings
  • Parents looking to gift a low-risk policy to their daughters

It may not offer high returns compared to ULIPs or market-linked plans, but it guarantees security, tax benefits, and a lump sum payout — all backed by LIC’s trust.

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