LIC Kanyadan Plan is an excellent plan that is thoughtful and secures our daughters’ future. It’s limited to a certain costs and offers assistance and security for daughters to fund their education and plans for marriage. Our goal is to assist families financially to help them manage the costs of our daughters as they pursue their goals. It’s the perfect present to our daughters who are loved and appreciated. It is also an enormous relief for families as it provides substantial financial aid to our daughters’ future and well-being.
- How do I go about implementing it? LIC Kanyadan strategy?
This is the complete financial plan to ensure your daughter’s future financial security. It assists in arranging expenses for your daughter, ensuring her education as well as marriage through investing into a savings account with lesser costs.
- What’s the advantages from the Kanyadan LIC Plan?
Making sure that your daughter’s future is on the top Wishlist to parents. This is why LIC provides Kanyadan Policy to benefit our daughter as well as us to give our children financial freedom by assisting her education as well as marriage and other important milestones. The advantages of this plan include:
- It’s a profit endowment assurance plan that has a limit on the time frame for premium payments.
- The premium-paying term is 3 years shorter than the term for the policy
- Flexible ways to pay the premium
- If there is a loss of the policy holder prior to the maturitydate, 10 percent of the initial amount assured will be paid at each policy anniversary, prior to the date of maturity
- Provides Rs. 10 lakhs in the event of death of the policy holder
- Offer a premium waiver in the event of death of the policyholder prior to the date of maturity of the policy.
- Are there tax advantages for LIC Kanyadan?
According to the law of tax exemption in India this is a tax-free tax policy. Two tax advantages that provide: First, the tax benefits of 150,000 rupees under the tax exemption law. 1,50,000 in the 80 C is available by paying a premium. Secondly, under the Section 10 (10D) The Maturity sums are also tax-free.
- Who is able to buy the plan?
The policy can be purchased from the father and not by the daughter. The age of the daughter must be at the minimum of one year old at the time of purchasing the father’s insurance.
- How old is the minimum age for purchasing this plan? LIC Kanyadan plan?
The minimum age at which you can purchase the policy is 18 The maximum age at when the policy can be available is 50 years.
- How long is the lock period for LIC Kanyadan?
The lock-up time period of the policy can be used from 13 years to 25 years.
- What documents are needed to purchase the LIC Kanyadan Plan?
These documents must be submitted
- Address, age and proof of identity
- Income Proof
- Aadhar Card
- Size of photo for passport
- Proposal Form
- Birth certificate for a girl child
- Demand Draft or Cheque of the first premium
- Do I have the option of obtaining a benefits from loans under the Kanyadan Scheme?
Yes, you can take out the amount you need if your policy is in force and you have paid a monthly premium for the past three years.
- Is there an exclusion from the plan?
Additional benefits or claims are not granted if the policyholder takes suicide within the first 12 months after purchasing the policy.
- How often is it? frequency of cost of the premium?
The premium may be paid every month either quarterly, semi-annually, or every year, depending on your eligibility.
- Is this policy accessible to NRI citizen?
Yes it is, and the scheme is accessible to Indian citizens in addition to NRI citizens.
- Do you have any surrender benefits to this scheme? LIC Kanyadan plan?
There is a possibility to surrender the policy following payment of the premium for minimum three consecutive years. The value of surrender is the entire premium amount, minus any benefits of the rider.
You can buy LIC Kanyadan Plan from our site. The LIC Kanyadan Scheme offers you the security of knowing that you have one daughter.