Key Features of LIC Aadhaar Stambh Plan 843
LIC Aadhaar Stambh Plan 843 is a traditional savings-cum-protection life insurance policy specially designed for male Aadhaar card holders. The plan combines life cover with savings benefits and offers loyalty additions to enhance overall returns.
Exclusive for Male Aadhaar Holders
This policy is available only to male individuals who possess a valid Aadhaar card issued by UIDAI at the time of purchasing the policy.
Entry Age Eligibility
Individuals can enter the plan between 8 years and 55 years of age (nearest birthday), subject to LIC’s underwriting guidelines.
Flexible Policy Term
Policyholders can select a policy term ranging from 10 years to 20 years, depending on their financial goals and protection requirements.
Sum Assured Options
The plan offers affordable coverage with:
- Minimum Basic Sum Assured: โน75,000
- Maximum Basic Sum Assured: โน3,00,000
Maximum Maturity Age
The policy must mature before the life assured attains 70 years of age (nearest birthday).
Non-Medical Underwriting
For eligible standard healthy lives, the policy can generally be issued without undergoing a medical examination, making the application process simpler and faster.
Premium Payment Rebates
Policyholders can enjoy rebates on tabular premiums based on the chosen premium payment mode:
- Yearly Mode: 2% rebate
- Half-Yearly Mode: 1% rebate
High Sum Assured Rebates
Additional premium discounts are available for higher coverage amounts:
| Basic Sum Assured | Rebate |
|---|---|
| โน2,00,000 to โน2,90,000 | โน1.50 per โน1,000 Sum Assured |
| โน3,00,000 | โน2.00 per โน1,000 Sum Assured |
Loyalty Addition Benefit
The policy participates in LIC’s loyalty addition declarations. Eligible loyalty additions are payable along with policy benefits, subject to LIC’s prevailing rules and experience.
Death Benefit
If the life assured passes away during the policy term while the policy remains in force, the nominee receives:
- Basic Sum Assured on Death
- Loyalty Additions (if applicable)
- Final Additional Bonus, if declared
This provides financial support to the family during difficult times.
Maturity Benefit
Upon surviving the policy term, the policyholder receives:
- Basic Sum Assured
- Loyalty Additions (if applicable)
- Final Additional Bonus, if declared
The maturity amount is paid as a lump-sum benefit at the end of the policy term.
Loan Facility
A policy loan can be availed after payment of premiums for at least three full policy years, subject to LIC’s loan conditions and surrender value requirements.
Surrender Value
The policy acquires surrender value after three full years’ premiums have been paid. If the policyholder decides to discontinue the plan after this period, surrender benefits may become payable according to LIC’s rules.
LIC Aadhaar Stambh Plan 843
LIC Aadhaar Stambh Plan 843 was a traditional endowment insurance plan introduced by the Life Insurance Corporation of India (LIC) exclusively for male Aadhaar card holders. The plan offered a combination of life insurance protection and long-term savings, providing financial security during the policy term and a lump-sum benefit on maturity.
Plan Status, Launch and Withdrawal Details
| Particular | Details |
|---|---|
| Plan Name | LIC Aadhaar Stambh |
| Plan Number | 843 |
| Plan Type | Non-Linked, With-Profits Endowment Assurance Plan |
| Launch Date | 24 April 2017 |
| Withdrawal Date | 1 February 2020 |
| Eligibility | Male Aadhaar Card Holders Only |
Although the plan has been withdrawn from new sales, all existing policyholders continue to receive benefits according to the original policy conditions.
Eligibility Conditions
Eligibility Criteria of LIC Aadhaar Stambh Plan 843
| Criteria | Details |
|---|---|
| Eligible Gender | Male Only |
| Minimum Entry Age | 8 Years (Completed) |
| Maximum Entry Age | 55 Years (Nearest Birthday) |
| Maximum Maturity Age | 70 Years |
| Policy Term | 10 to 20 Years |
| Premium Paying Term | Equal to Policy Term |
| Minimum Basic Sum Assured | โน75,000 |
| Maximum Basic Sum Assured | โน3,00,000 |
| Premium Payment Modes | Yearly, Half-Yearly, Quarterly, Monthly (NACH/ECS/SSS) |
Sum Assured Multiples
- โน5,000 multiples from โน75,000 to โน1,50,000
- โน10,000 multiples above โน1,50,000 up to โน3,00,000
For eligible healthy applicants, the plan was generally offered under non-medical underwriting provisions, subject to LIC’s underwriting guidelines.
Key Features of LIC Aadhaar Stambh Plan 843
Designed for Male Aadhaar Holders
The policy was specially created for male individuals possessing a valid Aadhaar card issued by UIDAI.
Protection and Savings Combination
The plan combined life insurance coverage with long-term savings, helping policyholders build a corpus while enjoying insurance protection.
Non-Linked With-Profits Plan
The plan was not linked to stock market performance. Benefits depended on policy terms and Loyalty Additions declared by LIC.
Loyalty Addition Benefit
Loyalty Additions could become payable upon:
- Death claim
- Maturity claim
- Eligible surrender
provided at least five policy years had been completed and five full years’ premiums had been paid.
Settlement Option
Policyholders had the flexibility to receive maturity or death claim proceeds either:
- As a lump-sum payment, or
- In installments over a period of up to five years
subject to LIC’s prevailing settlement option rules.
Optional Rider Benefits
Eligible policyholders could enhance coverage by opting for:
- Accident Benefit Rider (ABR)
- Accident and Disability Benefit Rider
subject to rider eligibility conditions and minimum remaining policy term requirements.
Loan Facility
Loans could be availed against the policy after satisfying the minimum premium payment conditions prescribed by LIC.
Surrender Benefit
The policy acquired surrender value after completion of the required premium-paying period, allowing policyholders to discontinue the policy and receive surrender benefits according to LIC rules.
Why LIC Aadhaar Stambh Plan 843 Was Popular
- Exclusively designed for Aadhaar card holders
- Affordable life insurance protection
- Savings and insurance under one policy
- Flexible premium payment options
- Loyalty Addition benefits
- Loan and surrender facilities
- Optional accident protection riders
- Tax benefits as per prevailing income tax laws
The plan served as a simple endowment solution for individuals seeking modest life cover along with disciplined savings and guaranteed policy benefits.
Premium Calculation Basics
The premium payable under LIC Aadhaar Stambh Plan 843 was determined using several factors, including:
- Age of the life assured at policy commencement
- Chosen policy term
- Basic Sum Assured selected
- Premium payment frequency
Higher ages, longer policy terms, and larger Sum Assured amounts generally resulted in higher premium requirements.
Premium Rebates
Mode Rebate
LIC offered discounts on tabular premiums depending on the premium payment mode selected:
| Premium Payment Mode | Rebate on Tabular Premium |
|---|---|
| Yearly | 2% |
| Half-Yearly | 1% |
| Quarterly | Nil |
| Monthly | Nil |
Choosing yearly or half-yearly payments helped reduce the overall premium payable.
Sum Assured Rebate
Additional rebates were available for higher Basic Sum Assured amounts. The rebate increased according to LIC’s applicable Sum Assured slabs and was calculated per โน1,000 of Basic Sum Assured.
Sample Premium Illustration (Indicative)
| Age (Years) | Policy Term (Years) | Basic Sum Assured (โน) | Approximate Yearly Premium (โน)* |
|---|---|---|---|
| 28 | 20 | 3,00,000 | 10,443 |
| 35 | 20 | 2,00,000 | 7,869 |
*The figures above are illustrative and based on standard healthy lives under yearly premium mode. Actual premiums varied according to LIC’s official premium tables, underwriting decisions, and applicable tax rates.
Grace Period
LIC provided a grace period for premium payments to help policyholders keep their policies active:
| Premium Mode | Grace Period |
|---|---|
| Yearly | 30 Days |
| Half-Yearly | 30 Days |
| Quarterly | 30 Days |
| Monthly | 15 Days |
If the premium remained unpaid even after the grace period, the policy could lapse subject to policy provisions.
Auto Cover Benefit
LIC Aadhaar Stambh Plan 843 included an Auto Cover feature that helped maintain insurance protection for a limited period after premium discontinuance.
Auto Cover Duration
- After payment of at least 3 full years’ premiums: Auto Cover available for 6 months
- After payment of at least 5 full years’ premiums: Auto Cover available for 2 years
During the applicable Auto Cover period, risk cover continued according to LIC’s policy conditions despite non-payment of premiums.
LIC Aadhaar Stambh Plan 843 Calculator
The LIC Aadhaar Stambh Calculator was designed to help policyholders estimate various policy values, including:
- Yearly, Half-Yearly, Quarterly, and Monthly premiums
- Total premium payable throughout the policy term
- Estimated maturity benefit
- Projected death benefit
- Loan eligibility indicators
- Surrender value estimates in advanced calculators
These calculations assisted users in understanding policy costs and expected benefits before purchasing the plan.
How the Calculator Works
The calculator generally follows a simple process:
Step 1: Enter Policy Details
The user provides:
- Current age
- Policy term
- Basic Sum Assured
- Premium payment mode
Step 2: Premium Computation
The calculator applies LIC’s premium rates for Plan 843 and incorporates applicable taxes and rebates based on the selected payment mode and Sum Assured.
Step 3: Benefit Projection
Based on the entered information, the calculator estimates:
- Premium payable
- Total premium outflow
- Projected maturity benefit
- Estimated death benefit
- Potential Loyalty Additions (where applicable)
Step 4: Display Results
The calculator presents a detailed summary showing premium obligations and estimated policy benefits, helping users make informed insurance decisions.
Benefits of LIC Aadhaar Stambh Plan 843
LIC Aadhaar Stambh Plan 843 offered a combination of life insurance protection and long-term savings benefits. The plan provided financial support to the nominee in case of the policyholder’s death and rewarded survival with a lump-sum maturity benefit enhanced by Loyalty Additions, wherever applicable.
1. Death Benefit
If the life assured passed away during the policy term while the policy was in force (or covered under the Auto Cover provisions), LIC paid the Sum Assured on Death along with eligible Loyalty Additions.
Sum Assured on Death
The Sum Assured on Death was the higher of:
- 7 times the Annualized Premium, or
- Basic Sum Assured
Additionally, the death benefit could never be less than 105% of the total premiums paid up to the date of death, excluding taxes, rider premiums, and extra premiums.
Death During First Five Policy Years
If death occurred within the first five policy years, the nominee received only the applicable Sum Assured on Death.
Death After Five Policy Years
If the policy had completed five policy years and at least five full years’ premiums had been paid, the nominee became eligible to receive:
- Sum Assured on Death
- Loyalty Addition (if declared and applicable)
Additional Rider Benefit
Where an eligible Accident Benefit Rider was attached and in force, an additional rider benefit became payable in accordance with the rider conditions.
2. Maturity Benefit
If the policyholder survived until the end of the policy term and all premiums had been paid, LIC paid the maturity proceeds.
Maturity Benefit Formula
Maturity Benefit = Basic Sum Assured + Loyalty Addition (if any)
For LIC Aadhaar Stambh Plan 843, the Sum Assured on Maturity was equal to the Basic Sum Assured selected when the policy was purchased.
3. Loyalty Addition
Loyalty Addition was a one-time additional benefit payable under this with-profits plan.
Eligibility for Loyalty Addition
The benefit became payable only when:
- The policy completed at least five policy years, and
- Five full years’ premiums had been paid
When Loyalty Addition Was Payable
Loyalty Addition could become payable:
- On death after completion of five years
- On maturity
- Under eligible Special Surrender Value claims
The rate of Loyalty Addition was determined and declared by LIC from time to time based on the overall experience of the plan.
4. Loan Facility
The policy provided financial flexibility through a loan facility after completion of the minimum required premium payment period.
Loan Eligibility
Loans generally became available after payment of the prescribed number of full years’ premiums, subject to LIC’s prevailing loan rules.
Maximum Loan Amount
- Up to 90% of the surrender value for in-force policies
- Up to 80% of the surrender value for paid-up policies
Any outstanding loan balance along with accrued interest was deducted from the claim amount payable under maturity, surrender, or death claims.
5. Surrender Benefit
The policy acquired surrender value after satisfying the minimum premium payment conditions specified by LIC.
Surrender Value Payable
The surrender value payable was the higher of:
- Guaranteed Surrender Value (GSV), or
- Special Surrender Value (SSV)
The Guaranteed Surrender Value was calculated using LIC’s applicable surrender factors on premiums paid, excluding taxes, rider premiums, and extra premiums.
Where eligible, Loyalty Addition could also be considered while determining the Special Surrender Value.
6. Paid-Up Value
If at least two full years’ premiums had been paid and subsequent premiums were discontinued, the policy could acquire a reduced paid-up status instead of lapsing completely.
Paid-Up Benefit Formula
Paid-Up Sum Assured = Basic Sum Assured ร (Number of Premiums Paid รท Total Number of Premiums Payable)
Under paid-up status, the policy continued with proportionately reduced benefits. Eligible Loyalty Addition, if declared, could also be payable according to LIC’s rules.
Illustrative Maturity Example
Consider the following example:
| Particular | Value |
|---|---|
| Age at Entry | 35 Years |
| Policy Term | 20 Years |
| Basic Sum Assured | โน2,00,000 |
| Premium Mode | Yearly |
| Approximate Annual Premium | โน7,869 |
Total Premium Paid
Total Premium Outgo over 20 years:
โน7,869 ร 20 = โน1,57,380
Estimated Maturity Benefit
At maturity, the policyholder would receive:
- Basic Sum Assured: โน2,00,000
- Loyalty Addition: As declared by LIC and subject to eligibility
Therefore:
Estimated Maturity Benefit = Basic Sum Assured + Loyalty Addition
The actual Loyalty Addition depends entirely on LIC’s declared rates and cannot be guaranteed in advance.
Illustration โ Death Benefit
Death Within the First Five Policy Years
If the life assured passes away during the first five policy years while the policy is in force, the nominee receives the Sum Assured on Death.
The Sum Assured on Death is the higher of:
- 7 times the Annualized Premium, or
- Basic Sum Assured
Additionally, the death benefit cannot be less than 105% of the total premiums paid up to the date of death, excluding taxes, rider premiums, and extra premiums.
No Loyalty Addition is payable if death occurs before completion of five policy years.
Death After Completion of Five Policy Years
If death occurs after the policy has completed five years and at least five full years’ premiums have been paid, the nominee becomes eligible for:
- Sum Assured on Death
- Loyalty Addition (if declared and applicable)
This increases the overall benefit payable to the family.
Accidental Death Benefit
Where an eligible Accident Benefit Rider is attached and active, an additional rider benefit becomes payable in case of accidental death, subject to the rider’s terms and conditions.
The rider benefit is paid in addition to the base death benefit available under the policy.
Tax Benefits
LIC Aadhaar Stambh Plan 843 offered tax advantages under the Income Tax Act, subject to prevailing laws and conditions.
Premium Tax Benefit
Premiums paid under the policy qualified for deduction under Section 80C of the Income Tax Act, 1961, within the overall limits prescribed under the section.
Tax Treatment of Benefits
Death claims and eligible maturity proceeds generally qualified for exemption under Section 10(10D) of the Income Tax Act, subject to compliance with applicable tax provisions.
Disclaimer: Tax benefits are subject to changes in tax laws and individual circumstances. Policyholders should consult a qualified tax advisor for current tax treatment.
Policy Revival
If the policy lapses due to non-payment of premiums, LIC provides an opportunity to restore the policy benefits through revival.
Revival Conditions
The policy can generally be revived within five years from the date of the first unpaid premium by:
- Paying all outstanding premiums,
- Paying applicable interest on arrears, and
- Satisfying LIC’s health and underwriting requirements.
The applicable revival interest rate is determined by LIC from time to time.
Where riders were attached to the policy, their revival is subject to LIC’s prevailing rules and underwriting approval.
Settlement Option
The plan offered flexibility by allowing claim proceeds to be received in installments instead of a single lump-sum payment.
Available Installment Frequencies
Benefits could be received through:
- Yearly installments
- Half-Yearly installments
- Quarterly installments
- Monthly installments
Settlement Period
Installment payouts could continue for a maximum period of five years from the date of maturity or death claim settlement.
This feature can help policyholders or nominees create a regular income stream rather than receiving the entire amount at once.
Optional Riders
Accident Benefit Rider / Accident and Disability Benefit Rider
Eligible policyholders could enhance protection by adding accident-related riders to the base policy.
Key rider benefits generally included:
- Additional benefit on accidental death
- Disability-related benefits as per rider provisions
- Additional financial support during unforeseen events
Rider premiums were charged separately and were subject to eligibility conditions, underwriting requirements, and LIC’s rider rules.
Suicide Exclusion
The policy contained a suicide exclusion clause in accordance with LIC’s standard policy provisions.
Suicide Within 12 Months of Policy Commencement
If the life assured committed suicide within twelve months from the date of commencement of risk, the nominee became entitled to:
- 80% of the premiums paid (excluding taxes, rider premiums, and extra premiums), or
- The surrender value available on the date of death,
whichever was higher.
Suicide Within 12 Months of Policy Revival
If suicide occurred within twelve months from the date of revival, the nominee became entitled to:
- 80% of the premiums paid up to the date of death, or
- The surrender value available on the date of death,
whichever was higher.
Except for the amount payable under the suicide clause, no other policy benefits become payable in such cases.
How to Use the LIC Aadhaar Stambh Plan 843 Calculator
The LIC Aadhaar Stambh Plan 843 Calculator is a useful tool that helps policyholders estimate premiums, maturity benefits, and death benefits based on their policy details. It simplifies financial planning by providing quick projections for different policy scenarios.
Step-by-Step Guide
Step 1: Open a Plan 843 Calculator
Visit a website that offers LIC Aadhaar Stambh Plan 843 calculations. Many LIC-focused insurance portals and premium calculator websites continue to provide calculations for withdrawn LIC plans.
Step 2: Enter Your Details
Provide the required information, including:
- Age of the life assured
- Policy term
- Basic Sum Assured
- Premium payment mode (Yearly, Half-Yearly, Quarterly, or Monthly)
Step 3: Generate the Calculation
After entering the details, click the calculate button to generate premium and benefit estimates.
Step 4: Review the Results
The calculator typically displays:
- Premium payable under the selected mode
- Total premium outgo during the policy term
- Basic Sum Assured at maturity
- Estimated Loyalty Addition (where applicable)
- Projected maturity value
- Estimated death benefits during different policy years
Step 5: Compare Different Scenarios
You can modify inputs such as age, policy term, Sum Assured, or premium mode to compare various options and identify the most suitable plan structure.
Step 6: Save or Print the Report
Many calculators allow users to save, download, or print the generated results for future reference or financial planning discussions.
Frequently Asked Questions (FAQs)
Who was eligible to purchase LIC Aadhaar Stambh Plan 843?
The plan was available exclusively to male individuals holding a valid Aadhaar card, subject to LIC’s eligibility conditions and underwriting requirements.
What was the entry age range for the plan?
The minimum entry age was 8 years (completed), while the maximum entry age was 55 years (nearest birthday). The maximum maturity age allowed under the plan was 70 years.
What were the minimum and maximum Sum Assured limits?
- Minimum Basic Sum Assured: โน75,000
- Maximum Basic Sum Assured: โน3,00,000
The Sum Assured had to be selected in the prescribed multiples specified by LIC.
Is LIC Aadhaar Stambh Plan 843 still available for purchase?
No. LIC Aadhaar Stambh Plan 843 has been withdrawn from new sales. However, existing policies continue to remain valid and receive all contractual benefits according to the policy terms.
Were tax benefits available under the plan?
Yes. Premiums paid qualified for tax benefits under Section 80C, while eligible maturity and death benefits generally qualified for exemption under Section 10(10D), subject to prevailing tax laws and applicable conditions.
Is there a newer version of Aadhaar Stambh available?
LIC has introduced updated products over time, and some insurance portals may refer to newer Aadhaar-linked plans with different plan numbers. Such products are separate policies with their own features, eligibility conditions, and benefit structures.
Conclusion
LIC Aadhaar Stambh Plan 843 was a traditional endowment insurance plan created specifically for male Aadhaar card holders seeking affordable life insurance protection combined with long-term savings. With features such as Loyalty Additions, loan availability, flexible premium payment options, and tax advantages, it offered a balanced approach to protection and wealth accumulation.
Although the plan is no longer available for new purchases, existing policyholders continue to enjoy its benefits according to the original policy contract. The LIC Aadhaar Stambh Calculator remains a useful tool for estimating premiums, maturity proceeds, and death benefits, helping policyholders better understand and manage their in-force policies.
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