LIC Kanyadan Policy: The country’s largest insurance company LIC (Life Insurance Corporation) has special schemes for people of all ages, from children to the elderly. LIC also has many schemes for daughters, which can help parents in better planning of their daughter’s future.
Most parents start worrying about the education and marriage expenses of their daughter as soon as she is born. In such a situation, LIC’s Kanyadan Policy can remove this worry of the parents. Let us know about this policy in detail.
You will have to deposit only Rs 121 every day
LIC’s Kanyadan policy can remove your worries about your daughter’s future. As the name of this policy suggests, it can help you raise a good amount of funds when your daughter is of marriageable age . Under this policy, you will have to deposit only Rs 121 every day. That means you will have to pay Rs 3,630 as premium every month.
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Under the LIC Kanyadan Policy, you get a lump sum of Rs 27 lakh on completion of the maturity period of 25 years. There is a time limit for this policy, you can take this policy for a minimum of 13 years and a maximum of 25 years. By saving Rs 121 every day, you can raise a fund of Rs 27 lakh for your daughter through this policy.
Policy Terms
If you want to increase or decrease the investment amount, you can increase or decrease it according to your wish, but then the fund received on maturity will also change on the same basis. At the time of taking the policy, the age of the daughter’s father should be more than 30 years and the girl child should be at least 1 year old.
You can claim tax deduction
This policy of LIC comes under section 80C of Income Tax Act 1961. That is, you can claim tax deduction on the money deposited as premium. Under section 80C of 1961, tax benefit can be claimed on investment up to Rs 1.5 lakh.
Not only this, if the policy holder dies before the maturity of the policy, then his family will not have to pay the premium. If the policy holder dies in an accident, then his family will be given Rs 10 lakh in lump sum. If the death occurs under normal circumstances, then Rs 5 lakh will be given. The clause of death benefit is included in the LIC Kanyadan policy.
In this way, invest in Kanyadan policy
To get LIC’s Kanyadan policy, you have to fill a form. Apart from the form, you will have to submit your Aadhaar Card, Income Certificate, Identity Proof, Residential Proof and Passport Size Photo along with your daughter’s Birth Certificate. To get this policy, you can deposit money by cheque or cash.
