The LIC Kanyadan Plan
is an excellent and thoughtful strategy for safeguarding our daughters’ futures. Print this article Recommend this article Comments Print this article Share this article on Facebook Share this article on Twitter Share this article on Linkedin Share this article on Reddit Share this article on Pinterest It is inexpensive and provides daughters with safety and support so that they can continue their plans for marriage and education. In order to help our daughters realize their dreams, our initiative aims to assist and provide financial assistance to families. Because it provides significant financial support for our cherished daughters’ improved future and welfare, it is the ideal present for them and a great relief for their families.
What is LIC Kanyadan’s strategy?
This plan is the entire financial strategy for your daughters’ future well-being. Your daughter’s education and marriage are supported by investing in a fund with a lower premium, and it also helps her organize her expenses.
What are the benefits of the LIC Kanyadan plan?
Providing for their daughter’s future is one of their most important goals. By supporting our daughter’s education, marriage, and other significant life events, LIC provides the Kanyadan Policy for our own financial freedom. The advantages of this plan are as follows:
It has a short premium-paying term and is a profit endowment assurance plan. The policy term is longer than the premium-paying term by three years. The premium can be paid in a variety of ways. On each policy anniversary prior to the maturity date, ten percent of the basic sum assured will be paid out in the event of a policyholder’s death prior to the policy’s expiration. 10 lakhs in the event of the death of the policyholder; a waiver of the premium in the event that the policyholder dies before the policy’s maturity date. The LIC Kanyadan is associated with any tax advantages.
According to India’s tax exemption law, it is a tax-free policy. Two tax advantages exist: The Rs, first and foremost. The maturity amount is also exempt from taxation in accordance with Section 10 (10D), and premium payment is required to obtain 1,50,000 under 80 C. Who may purchase this plan?
The daughter cannot purchase the policy on her own. Only the daughter’s father can. The daughter must be at least one year old when the father purchases the policy.
To purchase the LIC Kanyadan plan, how old must you be?
The policy can only be purchased by people over the age of 18 and can be used up to 50 years old.
What is the locking period for LIC Kanyadan?
The locking period of the policy ranges from 13 to 25 years.
Which forms are needed to buy the LIC Kanyadan Plan?
You must have the following documents: evidence of identity, age, and address; evidence of income; the Aadhar card; a photo in the size of a passport; a proposal template; a certificate of birth for a girl child; a demand draft or check for the first premium. Can the Kanyadan Scheme provide me with a loan benefit?
You are eligible for a loan if you have an active policy and have paid your premiums for three consecutive years.
Is the Plan incomplete in any way?
The policyholder will not be eligible for any additional benefits or claims if they commit suicide within a year of purchasing the policy.
How often do you have to pay the premium?
The premium can be paid monthly, quarterly, semiannually, or annually, depending on your suitability.
Is this policy open to citizens of NRI countries?
Yes, both Indian nationals and citizens of NRI nations can participate in the program.
Are there any surrender benefits for the LIC Kanyadan plan?
After paying the premiums for at least three years, the policy can be cancelled. The surrender value is the total paid premium value minus any rider benefits.