The correct answer is option 2 which includes statements 2 and 4 only.

Statement 1 posits that Aadhaar metadata cannot be stored for more than three months. This is incorrect as the Aadhaar Act does not prescribe a specific time limit for the storage of metadata.

Statement 2 states that the State cannot enter into any contract with private corporations for sharing of Aadhar data. This is accurate. The Aadhaar Act restricts sharing of information with any other entities, ensuring privacy and security of the data embedded in Aadhaar.

Statement 3 indicates that Aadhaar is mandatory for obtaining insurance products. This is false. In fact, It was declared by the Supreme Court of India that Aadhaar is not necessary for insurance products, bank accounts, and phone connections.

Statement 4 affirms that Aadhaar is mandatory for getting benefits funded out of the Consolidate fund of India. This statement is correct. The Supreme Court verdict made Aadhaar compulsory for availing facilities of social welfare schemes and government subsidies.

So, the answer 2 is correct, which involves statements 2 and 4.