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LIC Kanyadhan Policy: The country's largest insurance company LIC (Life Insurance Corporation) has special plans for people of all ages, from children to the elderly. LIC also has many plans for daughters, with the help of which parents can plan their daughter's future better. Most parents start worrying about their daughter's education and marriage expenses as soon as their daughter is born. In such a situation, LIC's Kanyadaan policy can remove this worry of the parents. Let us know about this policy in detail.
You will have to deposit only Rs 121 every day
LIC's Kanyadan policy can relieve you of your worries about your daughter's future. As the name of this policy suggests, it can help you raise a good amount of money when your daughter reaches marriageable age. Under this policy, you will have to deposit only Rs 121 every day. That means you will have to pay Rs 3,630 as premium every month.
You can raise Rs 27 lakh for your daughter's wedding
Under the LIC Kanyadan policy, you get a lump sum of Rs 27 lakh on completion of the maturity period of 25 years. There is a time limit for this policy, you can take this policy for a minimum of 13 years and a maximum of 25 years. By saving Rs 121 every day, you can raise a fund of Rs 27 lakh for your daughter through this policy.
Policy Terms & Conditions
If you want to increase or decrease the investment amount, you can increase or decrease it as per your wish, but then the fund received on maturity will also change on the same basis. At the time of taking the policy, the age of the daughter's father should be more than 30 years and the girl's age should be at least 1 year.
You can claim tax deductions
This policy of LIC comes under Section 80C of the Income Tax Act 1961. That is, you can claim tax deduction on the money deposited as premium. Under Section 80C of 1961, tax benefits can be claimed on investment up to Rs 1.5 lakh.
Not only this, if the policyholder dies before the maturity of the policy, then his family will not have to pay the premium. If the policyholder dies in an accident, then his family will be given a lump sum of Rs 10 lakh. At the same time, if the death occurs under normal circumstances, then Rs 5 lakh will be given. LIC Kanyadan policy includes a death benefit clause.
How to invest in Kanyadan policy
To get LIC's Kanyadan policy, you have to fill a form. Apart from the form, you will have to submit your Aadhar card, income certificate, identity certificate, residential certificate and your daughter's birth certificate along with a passport size photo. To get this policy, you can deposit money by cheque or cash.
