LIC Kanyadan Plan is a great thoughtful intend to secure living of our daughters. It is limited by limited premium and support and security to daughters to sustain their future education and marriage plans. Our initiative should be to help and financially support families to handle the expenses of the daughters in fulfilling their dreams. It can be a perfect gift to valued daughters plus a big relief to families through providing major financial aid for our daughters’ better future and welfare.
What may be the LIC Kanyadan plan?
This plan could be the all-in-one financial plan to your daughters’ future welfare. It helps organize expenses for ones daughter, supporting her education and marriage both by investing in a fund with less premium.
What include the benefits with the LIC Kanyadan plan?
Securing a daughter’s future is among the major Wishlist for mothers and fathers. Here LIC brings Kanyadan Policy to profit our daughter and ourselves to supply financial liberty by supporting her education, marriage, and also other milestones. The important things about this plan are:
It is usually a profit endowment assurance plan that has a limited premium paying term
Premium paying term is several years less than the protection term
Flexible modes of forking over the premium
In case of death of the policyholder prior to maturity, 10% with the basic sum assured will be provided on each policy anniversary prior to a maturity date
Provides Rs. 10 lakhs regarding death from the policyholder
Provide premium waiver in the case of death of policyholder ahead of the maturity of a policy
Are there any tax benefits against LIC Kanyadan?
Under the tax exemption law of India, it can be a tax-free policy. There are two tax benefits to offer: Firstly, The tax advantage of Rs. 1,50,000 under 80 C might be availed by paying premium, and Secondly, Under Section 10 (10D), Maturity sum can also be tax-free.
Who can buy this plan of action?
The policy may be bought with the father from the daughter only rather than the daughter herself. The daughter’s age need to be at least one year during the time of buying the father’s policy.
What may be the age limit for acquiring the LIC Kanyadan plan?
The minimum age to buy the insurance policy is 18 years, along with the maximum age nearly which a policy can be availed is fifty years.
What will be the locking quantity of LIC Kanyadan?
The locking period of the plan is available from 13 to twenty five years.
Which documents are required to purchase LIC Kanyadan Plan?
The following documents are required
Age, address, and identity proof
Passport size photo
Girl child birth certificate
Cheque or Demand Draft in the first premium
Can I avail loan benefit contrary to the Kanyadan Scheme?
Yes, you’ll be able to borrow a borrowing arrangement if your policy is active and also have paid reasonably limited for three consecutive years.
Is there any exclusion from the Plan?
Any additional benefits or claims can not be taken when the policyholder commits suicide within yr of buying a policy.
What would be the frequency on the premium payment?
The premium might be paid monthly, quarterly, semi-annually, or annually based upon your suitability.
Is this plan available for NRI citizens?
Yes, the scheme can be acquired for Indian nationals along with NRI citizens.
Are there any surrender benefits up against the LIC Kanyadan scheme?
Yes, it has an option to surrender the protection after paying limited for at least 3 years. The surrender value will be the total paid premium value excluding any rider benefits.