LIC Kanyadan Plan All details given

LIC Kanyadan Plan: What is LIC Kanyadan Plan, now you will get Rs 27 lakh instead of Rs 121, know full details –

LIC Kanyadan Scheme:- LIC insurance company keeps on launching schemes one after the other to remove the stress from the death of the person to the marriage, education etc. of his children.

LIC Kanyadan Yojna: Every day LIC insurance company starts some or the other scheme to remove the stress from the death of a person to the marriage, education etc. of his children. Keeping this in mind, LIC has started Kanyadan scheme.

This life insurance company of India has started investing for the marriage and education of daughters. Under this scheme, any person can invest in it for the marriage of his daughter. This plan is for 25 years.

Under this scheme people have to save Rs 121 per day and have to pay a premium of Rs 3600 per month, but people have to pay the premium only till the age of 22 years. On completion of 25 years of this LIC Kanyadan policy, you will be given Rs 27 lakh.

Life Insurance Corporation Donation Policy 2023

The father of the beneficiary of LIC’s Kanyadan policy should be at least 30 years old and the daughter should be at least one year old. You can take this policy for 13 to 25 years. In this scheme you have to deposit Rs 121 per day. That is, you will have to deposit a total of Rs 3,600 in a month. On completion of the maturity period of the policy, you will get a lump sum amount of Rs 27 lakhs. Even if you deposit Rs 75 per day, you will get Rs 14 lakh after 25 years.

Objective of LIC Kanyadan Policy

The main objective of this scheme is to save for daughter’s marriage, so Life Insurance Corporation of India has started investment policy for daughter’s marriage, so that people invest in this scheme and save money for the bright future of their daughter. It may be added that through this LIC Kanyadan policy the father will be able to fulfill all the future needs of his daughter.

Kanyadan policy information

Exclusion: If the policyholder commits suicide within 12 months from the inception of the policy then no benefit will be paid to him/her under this policy.

Free Look Period: The policy holder is provided with a free look period of 15 days from the date of inception of the policy. If the policyholder is not satisfied with any of the terms and conditions of the policy, he/she can choose to exit from the policy.

grace period In case of annual, quarterly payments, a grace period of 30 days is provided under this policy. In case of monthly payment, a grace period of 15 days is provided. No late fee is charged from the policy holder during the grace period. If the policyholder does not pay the premium before the end date of the grace period, his policy will be cancelled.

surrender value: Permission: Under this plan the policy holder is allowed to surrender the policy after paying the premium for 3 years.

Difference between LIC Kanyadan Policy and Sukanya Samriddhi Yojana

  1. Only Indian citizens can apply for citizenship. It is not mandatory for the applicant to be an Indian citizen to take advantage of this scheme.
  2. Age This plan can be purchased before the girl child completes 10 years of age. Daughter’s age is at least 1 year Father’s age is 18 years to 50 years
  3. The account holder under Sukanya Samriddhi Yojana will be a girl child. Under LIC Kanyadan policy, the account holder will be the father of the daughter.
  4. Minimum one lakh limited, maximum no limit as per sum assured paid.
  5. Limit 150000 lac No limit.
  6. Account Maturity Period The account can be operated till the girl child attains the age of 21 years or gets married after 18 years. 13 to 25 years
  7. Loan facility is not available. Loan can be taken after 3 years of purchasing the policy.
  8. Payment terms A maximum of Rs 1.5 lakh per year can be invested under this scheme. 3 years within the policy term.
    9. Type of Scheme It is a savings scheme launched for the education and marriage of the girl child. This plan combines the features of Jeevan Lakshya plan.
  9. In case of death If the account holder dies, the amount is paid to the parents of the account holder at regular interest. In case of death of the father, the premium is waived off.
  10. Compensation No compensation is given. ₹ 500000 in case of death due to natural causes, ₹ 1000000 in case of death due to accident.

Here are the kanyadon policy tax benefits

LIC’s Kanyadan policy is covered under Section 80C of the Income Tax Act, 1961, hence tax exempt on the premium collected. In this, you can get tax exemption of up to Rs 1.50 lakh.

Conditions in case of death of the policy holder

If the policyholder dies prematurely, no premium will be paid to his family members. The family will get Rs 10 lakh in case of accidental death and Rs 5 lakh in case of death under normal circumstances. Apart from this, on completion of 25 years, the nominee will get full Rs 27 lakh.

At what age will the LIC Kanyadan policy be applicable?

To avail the benefits of LIC Kanyadan Policy, your minimum age should be 30 years and the minimum age of the daughter should be 1 year. You get this policy for a period of 25 years. Under which you have to pay the premium only for 22 years. Let us tell you that it is not necessary that you get this policy only when your daughter is 1 year old. You can take this policy anytime. Depending on the age of your daughter, the term of this policy can be reduced or increased.

lic kanyadan policy premium amount

Under LIC Kanyadan policy, the applicant can increase or decrease the amount of premium according to his income. It is not necessary that the applicant should deposit only ₹ 121 per day. If he can deposit more than this, he should deposit more. If he is not able to deposit ₹ 121, then he can take a plan with a lower premium than that.

When to Pay LIC Kanyadan Policy Premium

You can pay the premium as per your convenience. If you want, you can pay the premium daily or in 6 months or in 4 months or in 1 month. You can pay the premium as per your convenience.

Main information of LIC Kanyadan policy

Through LIC Kanyadan policy, you can make your daughter’s future financially independent.
The policy will provide life risk cover for a period up to 3 years prior to the maturity date
Under this policy, the insured will be given a lump sum amount at the time of maturity.
Under the LIC Kanyadan policy, if the father dies, the premium will not be paid.
If the beneficiary dies due to an accident then Rs 1000000 will be provided to his family.
If the beneficiary dies due to natural causes then in this case ₹500000 will be provided.
A premium of ₹50000 will be paid every year till the maturity date.
Indian citizens living outside India can also avail the benefits of LIC Kanyadan policy.

Features of LIC Kanyadan Policy

Under this policy, if a person dies after participating in this policy, then his family will not have to pay premium in this policy.
And his family will be paid Rs 1 lakh every year by LIC company and Rs 27 lakh will be paid separately to the nominee of the policy on completion of 25 years.
Under this scheme, any person can invest for his daughter’s marriage.
This is a unique scheme that creates a fund for your daughter’s marriage and education.

Documents for LIC Kanyadan Policy

To take LIC Kanyadan policy, you have to submit some important documents. This includes your Aadhaar card or identity card, income proof, residential proof, passport size photograph. Apart from this, the signed application form and the birth certificate of the girl child will also have to be submitted. You can pay the premium by check or cash.

How to apply for LIC Kanyadan Policy?

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

Source link

Leave a Comment

Your email address will not be published.