The LIC Kanyadan Plan is a superb, well-thought-out strategy to safeguard our girls' lives. It is regulated to a small premium and gives daughters security and support to support their future ambitions for study and marriage. Our goal is to assist and provide financial support to families so they can pay for our daughters' aspirational pursuits. By offering significant financial aid for our girls' better future and wellbeing, it is the ideal gift for our beloved daughters and a great relief to families.
What does LIC Kanyadan's plan entail?
The comprehensive financial strategy for the future welfare of your daughters is this plan. It aids in budgeting expenses for your daughter, supporting both her marriage and her studies by making investments in a fund with lower premiums.
What rewards come with the LIC Kanyadan plan?
One of the top things on parents' wish lists is to ensure their daughter's future. Here, LIC implements the Kanyadan Policy for the benefit of our daughter and ourselves in order to grant us financial freedom by funding her education, marriage, and other significant life events. Benefits of this strategy include:
A profit endowment assurance plan with a short premium-paying duration is what it is.
The term for paying premiums is three years shorter than the insurance duration.
Multiple options for paying the charge
10% of the basic sum guaranteed will be paid on each year of the policy before the maturity date in the event that the policyholder dies prior to the maturity.
provides Rs. 10 lakh in the event of the policyholder's death.
In the event of death, provide premium waiver of policyholder before the maturity of the policy
Exist any tax advantages for LIC Kanyadan?
It is a tax-free policy in accordance with Indian tax rules. There are two tax advantages to mention: First, by paying the premium, you can receive the tax benefit of Rs. 1,50,000 under Section 80 C. Second, the maturity sum is tax-free under Section 10 (10D).
Who may purchase this plan?
Only the daughter's father and not the daughter herself may purchase the insurance. When purchasing the father's insurance policy, the daughter must be at least one year old.
What is the minimum age required to purchase the LIC Kanyadan plan?
The lowest age to purchase an insurance is 18, and the oldest age at which a policy may be used is 50.
What is the LIC Kanyadan's locking period?
The policy's locking duration ranges from 13 to 25
What paperwork is needed to purchase the LIC Kanyadan Plan?
The required documentation is listed below.
Age, location, and identification documentation
Income Proof Girl Child Birth Certificate Aadhar Card Passport Size Photo Proposal Form
a check or a demand the first premium's
Can I receive a loan benefit under the Kanyadan Plan?
If your policy is active and you have paid premiums for three years running, then you are eligible to borrow money.
Does the Plan have any exclusions?
In the event that the policyholder dies by suicide within 12 months of purchasing the policy, no further benefits or claims may be made.
How frequently are premium payments made?
Depending on your suitability, the premium can be paid monthly, quarterly, semi-annually, or annually.
Are NRI citizens eligible for this policy?
Yes, both Indian nationals and NRI citizens are eligible for the program.
Exist any surrender advantages for the LIC Kanyadan plan?
Yes, after paying premiums for at least three years, there is a choice to cancel the policy.