LIC Scheme: Marriage or Studies, No tension! Create a fund of Rs 27 lakhs for the girl by depositing Rs 121 (Also tax-Free)
LIC Kanyadan Policy / LIC Kanyadan Yojana: If you are also a father of a daughter, this article is important for you. LIC’s Kanyadan Policy has set up a program
Where you can easily prepare for your daughter’s future (LIC’s Kanyadan Policy Benefits). LIC Kanyadaan fund is specially designed to meet the future needs of the girl, her marriage and her education.
The LIC Kanyadan policy provides excellent financial protection for your daughter at a low cost. This is a one-of-a-kind strategy that sets a backup fund for your daughter’s future costs in support of her marriage and education.
When a girl child is born into a family in India, the first issue that concerns the family is the cost of her education and marriage. However, LIC has recently developed a plan that provides financial aid to families in raising their daughters, which is a huge comfort for them.
LIC Kanyadan Policy / LIC Kanyadan Yojana Full Details
In this policy, you don’t need to invest more money (LIC Kanyadan Policy Investment). You can create a corpus of Rs 27 lakh simply by depositing Rs 121 every day. Along with this, along with your daughter’s education and marriage, other needs will also be easily met.
So let us know when and how much you will profit from the Kanyadan LIC policy interest rate.
LIC Kanyadan Policy Benefits
Buying a LIC Kanyadan policy will protect your daughter’s future while also benefiting you in a variety of ways. How the LIC Kanyadan policy will help you prepare better so that you can give your daughter entire financial freedom in terms of her schooling, marriage, and key life milestones.
- In this policy, the premium paying term is limited.
- This is a with-profits endowment insurance plan that comes with insurance and savings.
- The premium paying term is less by 3 years than the policy term.
- Various premium paying modes are available such as monthly, quarterly, half-yearly and annual.
- If the applicant dies within the policy tenure, 10% of the Sum Assured is payable every year till 1 year before the maturity date.
- The policy tenure for this plan is between 13 to 25 years.
- The policyholder has the option to pay for 6, 10, 15 or 20 years.
- If the policyholder, i.e. the father of the daughter, dies during the insurance term, the family will receive additional payments.
- If you’ve been paying premiums for at least 5 years, you’ll be eligible for the disability rider.
- Under India’s 1961 tax exemption laws, it is a completely tax-free policy.
Policy Documents Required
The age must be at least 30 years old to invest in this plan. Along with this, your daughter’s age should also be at least one year old.
For the application of this policy, it is very important that you have the necessary documents such as Aadhar card, birth certificate, income certificate, identity card.
And above all, with this plan, you benefit from a tax exemption on premiums paid below 80C. This tax exemption can go up to Rs 1.50 lakh.
Calculations of LIC Kanyadan Policy
At LIC Kanyadan Policy Profit, you will need to deposit a fund of Rs 121 per day. That is, the total for the month was Rs 3600. With a daily investment of Rs 121, you will get Rs 27 lakh after 25 years.
In this policy, you have to pay a premium for 22 years. Let’s say you can lower the limit for this policy as well. This policy can also be applied for 13 years and can also be applied for the education of a girl.
The speciality of this LIC Kanyadan Policy
- In the plan, a large fund is available at maturity.
- Exemption from payment of the premium in the event of the death of the parent or guardian.
- There is a payment of Rs 50,000 each year until maturity.
- In case of death in an accident, payment of Rs 10 lakh is received immediately.
- The full amount at maturity is available at the time of expiration.
- If the death took place under normal circumstances, the amount is five lakh rupees.