Now you will not have to worry about your daughter’s marriage and her education. Because with a simple investment, you can get a good amount for your daughter’s future.
The name of this special policy is LIC Kanyadan Policy. This policy of LIC can remove the worries of parents. Let us now understand this scheme in detail.
The maturity period is 25 years
It is clear from the name of LIC’s Kanyadan policy that it will help in raising a good amount of funds. This policy will come at the time of marriage. If you save and invest a small amount of Rs 121 every day, you can get a lump sum of Rs 27 lakh after 25 years. All you have to do is invest Rs 3630 every month. The time limit of this policy is a minimum of 13 years and a maximum of 25 years.
If you want to increase or decrease the investment amount, you can do so as per your wish. The fund received on maturity will also keep changing on the same basis. The condition for the policy is that the age of the daughter’s father should be at least 30 years. At the same time, the age of the girl should be at least one year.
You will also get help in tax
Along with securing your daughter’s future, you can also save your taxes with this policy. This policy comes under Section 80C of Income Tax Act- 1961. This means that you will be able to claim tax deduction on the premium. At the time of investment, you can get tax benefits on investments up to Rs 1.5 lakh. Suppose if the policy holder dies before the policy matures, then you do not need to pay the premium. If the policy holder dies a natural death, then the family will get Rs 5 lakh, whereas those who die in an accident will get Rs 10 lakh. Death Benefit clause is included in LIC Kanyadan policy.
