- LIC Kanyadan Scheme: Under the Kanyadan scheme, the insured can deposit installments daily or in one, four or six months.
- On the death of the insured between the policies, his family gets 5 to 10 lakh rupees under the policy.
LIC Kanyadan Policy
new Delhi. Every parent starts adding money to their daughter’s marriage right from her birth. They do not want their daughter to have any problem when they leave. If you are also worried about your daughter’s wedding expenses, then do not take tension. Because under a specific policy of LIC, this problem can be solved. The name of this policy is Kanyadan Yojana. In this, you can get a return of up to Rs 27 lakh by saving about Rs 121 daily. So what is this scheme and how to invest in it, know the process?
What is LIC Kanyadan Policy?
This insurance plan can be taken for 13 to 25 years. In this, any person can take insurance of at least Rs 1 lakh. Also, the premium will have to be paid for less than 3 years of the term. The minimum age of the father should be between 18 and 50 years to take the policy. While the daughter should be at least one year old. The main objective of the scheme is to help in adding money for the bright future of the daughter. This will not cause problems with money in marriage. The good thing about this policy is that it also has an exemption on premium in section 80C of the Income Tax Act 1961. This discount is available on the amount of up to Rs 1.5 lakh.
Special things related to the scheme
1. Subsidy Policy Applicants may increase or decrease the premium amount according to their income.
2. You can pay the premium daily or you can pay it in 6, 4 or 1 month.
3. To invest in the policy, you can check the details on the LIC official website or contact the LIC agent.
4. If a person dies after taking part in the policy, then his family will not have to pay the premium in this policy.
5. The family will be given 1 lakh rupees every year by the LIC company and after completion of 25 years of the policy, a separate policy nominee will be given 27 lakh rupees.
Benefits of the Kanyadan Yojana
- If the insured dies in the middle of the policy, the family will get 5 lakh rupees.
- The death benefit to the policyholder will be given in the annual instalment.
- On the death of the insurance holder in the accident, the family will get Rs 10 lakh.
- If the insured used to deposit 75 rupees a day, then the daughter will get 14 lakh rupees under the policy for her marriage after 25 years. Similarly, the higher the amount, the higher the return. For example, if you deposit Rs 121 daily, then at maturity you will get around Rs 27 lakh.
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