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LIC Jeevan Adhar Policy

LIC Jeevan Aadhar Plan is a special category plan as it is a Life Insurance Policy especially for Handicapped dependents. It is basically a Limited Payment Whole Life Plan which can be utilized as a long term annuity plan after the death of the Life Insured.

In this plan, premium needs to be paid for a maximum period of 35 years but the life cover continues till the death of the handicapped dependent. If the Life Insured dies before the handicapped dependent, the Death Benefit is paid partly in lumpsum and partly in instalments. 20% of the Sum Assured is paid in Lumpsum and the remaining amounts of 80% of the Sum Assured along with additions are utilized to purchase an annuity certain for 15 years which continues as long as the handicapped dependent is alive.

However, if the handicapped dependent dies before the Life Insured and during the premium paying term of the policy, the Life Insurance contract ends and the Life Assured will have the option of either keeping the policy for a reduced paid-up Sum Assured or receive the refund of premiums.

Since this is a whole life plan, there is no maturity benefit under this plan.
Hence this plan is a Limited Payment Whole Life cum Annuity plan with Guaranteed Additions which caters to the needs and requirements of a handicapped dependent.

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Whole life plan
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Death Benefit
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Limited premium paying term

Key Features

This plan is basically a whole life plan for handicapped dependents.
The premium depends on the age of the handicapped dependent, which is defined.
The Death Benefit of the Life Insured for the handicapped dependent is 20% of the Sum Assured as lumpsum benefit and the remaining 80% along with additions would be utilized to provide an annuity for 15 years and then lifelong for the handicapped dependent.
This plan has limited premium paying term of a maximum of 35 years.
There are Guaranteed Additions if at least 10 years’ premiums have been paid
Terminal Additions are also provided in this plan
Optional higher cover through Accident Benefit rider

There is 1 Additional Riders available - Accident Benefit Rider


Death Benefit

In case of death of the Life Insured when the Handicapped dependent is alive, 20% of the Sum Assured is paid as a lumpsum to take care of immediate expenses. The remaining 80% of the Sum Assured + Guaranteed Additions + Terminal Additions is utilized to provide an annuity certain for 15 years and life thereafter of the handicapped dependant though a trustee or a nominee. The actual Annuity is calculated at the time of claim.

If the handicapped dependent dies before the Life Insured and during the premium paying term, then the policy ceases and the Life Insured has an option of either continuing the policy for a reduced paid-up Sum Assured or receive the refund of premiums and terminate the plan.

Maturity Benefit

Since this is a Whole Life Plan, there is no Maturity Benefit.

Income Tax Benefit

Premiums paid under life insurance policy are exempted from tax under Section 80DDA


  Minimum Maximum
Sum Assured (in Rs.) 50,000 No Limit
Policy Term (in years) Whole Life
Premium Payment Term (in years) 1 35
Entry Age of Policyholder 22 65
Age at Maturity - 75
Payment modes Single, Yearly, Half-Yearly, Quarterly, Monthly and SSS


angle down iconYou stop paying the premium

If you stop paying the premiums after 3 policy years, the policy acquires a Paid Up Value for a Reduced Sum Assured.

angle down iconYou want to surrender the policy

There is no Guaranteed Benefit under this plan

angle down iconYou want a loan against your policy

Loan facility is not available under this policy