LIC Kanyadan Plan is an excellent plan that is thoughtful and secures the future of your daughters. It’s limited to a certain cost and offers support and protection to girls to fund their future wedding and education plans. Our aim is to aid and financially assist families to help manage the costs of our daughters to achieve their goals. It’s a wonderful present to our daughters who are loved and appreciated. It is also an enormous relief for families, by providing significant financial assistance to ensure our daughters’ prospects and wellbeing.
1. How do I go about implementing what is the LIC Kanyadan program?
This is the complete financial strategy for your daughter’s future financial security. It will help you organize the expenses of your daughter, ensuring her education as well as marriage through investing into a fund that has lesser costs.
2. What’s the advantages that come with the Plan?
The future of a daughter is a major Wishlist to parents. This is why LIC offers Kanyadan Policy to benefit our daughter as well as us to give our children financial freedom by assisting her marriage, education as well as other important milestones. The benefits of this policy include:
- It is 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 of the policy
- Flexible ways to pay the premium
- If there is a the death of a policyholder prior to the date of maturity 10 percent of the amount guaranteed will be paid every policy anniversary prior to the date of maturity
- Provides Rs. 10 lakhs in the event of the death of the policy holder
- In the event that the policyholder dies prior to the expiration date of the policy
3. Do you have any tax advantages to LIC Kanyadan?
In Tax exemption laws in India it is a tax-free tax policy. Two tax advantages that provide: First, the tax benefits of the amount of Rs. 1,50,000 for those who are under the age of 80 C can be accessed through premiums, and Secondly, under the Section 10 (10D) The Maturity sums are also tax-free.
4. Who is eligible to purchase this service?
The policy is purchased from the father and not the daughter. The age of the daughter must be not less than one year old at the time of purchasing the father’s insurance.
5. How old is the minimum age to purchase this plan? LIC Kanyadan plan?
The minimum age at which you can purchase the policy is 18 and the maximum age for the point at which the policy may be available is 50 years.
6. What’s the locking time of LIC Kanyadan?
The lock-up time period of the insurance policy runs between 13 and 25 years.
7. What documents are required 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 of a girl child
- Demand Draft or Cheque for the first premium
8. Do I have the option of obtaining a of a loan benefit in the Kanyadan Scheme?
Yes, you can take out an amount of money if your insurance policy is current and you’ve paid your premium for the past three years.
9. Does there exist any exclusions within the plans?
Additional benefits or claims can’t be granted if the policyholder takes suicide within the first 12 months after purchasing the policy.
10. What’s the frequency of Premium payment?
The premium is payable every month or quarterly, semi-annually or even annually, depending on your ability to pay.
11. Does this policy apply to NRI residents?
Yes this scheme is available to Indian citizens in addition to NRI citizens.
12. Do you have any surrender benefits in this scheme? LIC Kanyadan program?
There is a possibility to surrender the policy following payment of the premium for at minimum three years. The value of surrender is the entire premium amount, minus any benefit of a rider.