Get Rs 31 lakh in this LIC Kanyadan Policy by investing only Rs 200 | Check how to apply for the best LIC scheme

Here you will get information about LIC Kanyadan Policy. Under this scheme, you can get your daughter married easily, and you will get huge profits on maturity.

What is LIC Kanyadan Scheme

LIC Kanyadan scheme helps parents to bear the marriage expenses of their daughter and give her benefits. Under this policy, if a father buys a LIC Kanyadan policy for his daughter, then till her marriage, he will have so much money that he can easily do his daughter’s marriage without financial problems. This is a scheme specially started for daughters only.

Get Rs 31 lakh in this LIC Kanyadan Policy by investing only Rs 200 | Check how to apply for the best LIC scheme

Additional Details of LIC Kanyadan Policy

Exclusions: If the policyholder commits suicide within 12 months of the commencement of the policy, then the policyholder will not get any benefit from this policy. 

Free Look Period: A free look period of 15 days is provided to the policyholder from the date of commencement of the policy. If that policyholder is not satisfied with any of the terms and conditions of the policy, he/she can opt out of the policy.

Grace Period: LIC Provides a grace period of 30 days under the LIC Kanyadan scheme in the case of annual, or quarterly payments. LIC provides a grace period of 15 days in case of monthly payments. LIC does not collect late fees from the policyholder during the grace period. If the policyholder does not pay the premium before the expiry date of the grace period, LIC will terminate his policy. 

Surrender Value: Permission: LIC allows the policyholder to surrender the policy under this plan after paying the premium for 3 years.

LIC Kanyadan Policy Income Tax Benefits

Under LIC Kanyadan Policy, policyholders get an exemption on the premium under Section 80C of the Income Tax Act 1961. Policyholders can avail of this exemption up to a maximum of 1.5 lakh rupees. Along with this, policyholders also get the exemption on maturity or death claim amount under section 10(10D).

For You: This Post Office scheme can give you lakhs only with An investment of 1000 rupees every month. Invest now!

Till what age will LIC Kanyadan Policy be available?

To take the LIC Kanyadan policy, your minimum age should be 30 years, and your daughter’s minimum age should be one year. You get this policy for 25 years. Under this, you have to pay a premium only for 22 years. You don’t need to get this policy done only when your daughter is one year old. You can take this policy at any time. The policyholder can increase and decrease the term as per the daughter’s age. 

LIC Kanyadan Policy Premium Amount

Under the LIC Kanyadan policy, the applicant can increase or decrease the amount of the premium according to his income. The applicant doesn’t need to deposit only ₹ 121 per day. If he can deposit more than this, then he should deposit more. If he cannot deposit ₹121, then he can make a plan with a premium of less than this. For other information related to LIC Kanyadaan policy, visit the official website of LIC, or you can also meet a LIC agent.

When will the premium be paid?

You can pay the premium under this plan at your convenience. You can either pay the premium daily or in 6, 4 months, or 1 month. You can pay the premium as you like.

Key Facts of LIC Kanyadan Policy

  • Through LIC Kanyadan Policy, you can make your daughter’s future financially independent.
  • This policy will provide life risk cover for up to 3 years before the maturity date.
  • Under this policy, the insured person will get a lump sum amount at the time of maturity.
  • Under LIC Kanyadaan policy, no premium has to pay in case the father dies.
  • If the beneficiary dies due to the accident, his family will get Rs.1000000.
  • If the beneficiary’s death is due to a natural cause, then, in this case, the family will get ₹ 500000.
  • A premium of ₹ 50000 per annum will be paid till the date of maturity.
  • Indian citizens residing outside India can also take advantage of the LIC Kanyadan Policy.

For You: Top 11 Differences between LIC Kanyadan Policy and Sukanya Samriddhi Yojana

Features of Life Insurance corporation Kanyadan Policy 2022

  • Under this policy, if a person dies after taking part, his family will not have to pay the premium.
  • And his family will be given Rs 1 lakh every year by the LIC company, and after the completion of 25 years of the policy, Rs 27 lakh will be given separately to the nominee of the policy.
  • Any person can invest under this scheme for the marriage of his daughter.
  • This scheme creates a fund for your daughter’s marriage and education.

Benefits of LIC Kanyadan Policy 2022

  • Under this policy, if the insured dies, his family will be given Rs 5 lakh immediately.
  • The death benefit received by the policyholder during the plan is paid in annual installments, which meet the financial needs of the family of the policyholder after the death of the policyholder.
  • In this plan, you also get the benefit of a bonus declared by LIC every year.
  • If the insured dies in an accident, his family will get 10 lakh rupees.
  • If a person deposits Rs 75 per day, then after 25 years of paying a monthly premium, Rs 14 lakh will be provided at the time of the daughter’s marriage.
  • If a person saves Rs 251 daily, then after 25 years of paying a monthly premium, Rs 51 lakh will be given.
  • This LIC Kanyadaan policy keeps paying every year for the rest of your life, even after you get married.
  • If the death of the insured occurs between the term of 25 years, 10% of the Basic Sum Assured will be given every year from the year of death till the date of maturity.
  • Any person can save Rs.75 per day and get Rs.11 lakh for the marriage of his daughter.
  • The premium payment term under the LIC Kanyadan policy is limited.
  • This policy is a for-profit endowment insurance plan that comes with insurance and savings.
  • The premium paying term is three years less as compared to the policy term.
  • There are different premium payment modes under the LIC Kanyadan policy which are Monthly, Quarterly, Half-Yearly, and Yearly.
  • If the beneficiary of this plan dies within the term of the policy, 10% of the Sum Assured is payable every year up to 1 year before the maturity date.
  • The term of the LIC Kanyadan policy is between 13 to 25 years.
  • The policyholder can choose to pay as per his requirement which is 6, 10, 15, or 20 years.
  • The benefit of a disability rider can also be availed under this plan. This benefit can be availed only if the premium-paying tenure is at least 5 years.
  • The premium chart of the LIC Kanyadan policy is easy and can be understood easily.
  • Under this plan, if the policy is active and the policyholder has paid the premium for 3 years, then a loan can also be obtained through this policy.
  • This policy is completely tax-free.

Eligibility for LIC Kanyadan Policy

If one wants to invest under this policy, then his/her age should be at least 30 years, and the daughter’s age should be one year. At the same time, even if the daughter’s age is more than one year, its benefit is given. A term of 25 years is given in this plan. However, the option of paying the premium is only 22 years.

  • This policy can be purchased only by the father of the daughter.
  • The age limit under this scheme is 18 to 50 years.
  • The daughter’s age should be at least one year to buy the LIC Kanyadan policy.
  • The minimum Sum Assured at the time of maturity should be ₹100000.
  • There is no limit on the maximum Sum Assured at the time of maturity.
  • There is a policy term of 13 to 25 years under this plan.
  • The term of the policy under LIC Kanyadan policy is 3 years more than the premium paying term. If the policy term is 15 years, then the policyholder will have to pay the premium for 12 years only.

Documents of Kanyadan Policy Scheme 2022

  • Aadhar Card
  • income certificate
  • identity card
  • address proof
  • passport size photo
  • Duly filled and signed form of a proposal of the scheme
  • Check or cash to pay the first premium
  • Birth certificate

How to apply for LIC Kanyadan Policy 2022?

Interested beneficiaries who want to apply under this policy, then you can contact your nearest LIC office / LIC agent, and you have to go there and tell them that you want to invest in the LIC Kanyadan policy. Then he will tell you the term of the LIC Kanyadaan policy, you have to choose it according to your income, then the LIC agent will have to give you all your information and your documents, and after that, he will fill out your form. In this way, you can join LIC Kanyadan Policy Scheme 2022. To get more information related to the scheme, you can visit the official website of LIC.

How to get 31 lakh rupees

If an investor takes a term policy of 25 years under this scheme, then he will have to invest monthly, quarterly, half-yearly, and annual premiums for 22 years with a savings of Rs 151 daily. You took this policy at the age of 30 and paid a premium for 22 years. On maturity of the policy at 25 years, your age will be 55 years. At that time, you will get the full 31 lakh rupees in this policy.

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