LIC Kanyadan Policy: The schemes of the country’s largest life insurance company LIC are popular for safe investment as well as strong returns. LIC has great schemes especially for daughters.
LIC’s portfolio has many great schemes for everyone from children to the elderly, which are helpful in raising huge funds even through small savings. LIC has made many plans especially for daughters, which can eliminate the tension from their education to marriage.
Usually in India, as soon as a daughter is born, people start worrying about her education and marriage. If you are also in this list, then LIC’s Kanyadan Policy can remove this worry, which will not let you feel the lack of money in the daughter’s marriage. Let’s know about it in detail…
LIC Kanyadan Policy can not only secure your daughter’s future but also free you from the tension of money during her marriage. As per the name of this plan, it can provide a huge
fund when the girl becomes marriageable. In this, you will have to deposit Rs 121 per day for the daughter, which means you will have to deposit a total of Rs 3,600 every month. Through this investment, you will get more than Rs 27 lakh in lump sum on completion of the policy’s maturity period of 25 years.
This is the maturity period of the scheme.
This great policy of LIC can be taken for a maturity period of 13 to 25 years. In such a situation, if your daughter is two years old and you take a sum assured plan of Rs 10 lakh for a maturity of 25 years and invest Rs 121 daily in the scheme, then when your daughter will be 27 years old, she will have Rs 27 lakh. If you want to increase or decrease the investment amount, you can increase or decrease it according to your wish and your fund will also change on that basis.
Tax benefits will also be available
Talking about the age limit to avail this LIC plan made for daughters, in this scheme the age of the father of the beneficiary should be at least 30 years, while the age of the daughter should be at least one year. Along with accumulating a huge fund, tax benefits are also available in this LIC plan. LIC Kanyadan Policy comes under the purview of Section 80C of Income Tax Act 1961, so those who pay the premium can get a tax exemption of up to Rs 1.5 lakh.
Not only this, if any untoward incident happens with the policyholder before the maturity period or he dies prematurely, then in such a situation there is a provision to give up to Rs 10 lakh to the family members and the family members will not have to pay the premium. On completion of the maturity period of the policy, the nominee will be given the full amount of Rs 27 lakh.
To avail LIC’s Kanyadaan policy, you will have to provide your Aadhaar Card or any other identity proof, income certificate, residential proof, passport size photo, daughter’s birth certificate.
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