If you are willing to save money for you daughters future then you are at right place. You are going to know about the Lic Kanyadan. LIC Kanyadan is a plan which is designed to help parents to save money for their daughter’s education and also marriage. It is not an official plan but it was launched launched by the company of LIC it is also but a customized version of LIC Jeevan Lakshya policy sold by some LIC agents.
It is a combination of insurance and savings which offers financial protection and benefits to the daughter and the family.In this article you are going to know about the LIC Kanyadan Yojana. It’s Eligibility to apply, How yo apply online | What are the Benefits of the This scheme. Required documents to get apply online.
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The Main Objective Of LIC Kanyadan
LIC Kanyadan Policy Scheme is a plan made by the LIC Which is a life insurance company this companies motive is to help parents by saveing money for their daughters’ education and marriage. Anyone can join this plan for their daughter’s future. This plan lasts for 25 years. By saving ₹ 121 every day, people who join this plan have to pay ₹ 3600 every month, but only for 22 years. After 25 years, they will get ₹27 lakhs. The official website of the lic Kanyadan
Total Plan of the Kanyadan Insurance
This is a plan for fathers to save money for their daughters’ weddings. And also You can choose how long you want to save money for your daughters marriage and Education. This plan is valid upto for 13 to 25 years. Therefore You only need to pay money for the first 3 years of the plan. Moreover The minimum amount of money you can save with amount of ₹ 1 lakh.
You should that The father of the girl should must be at least 18 years old, and the daughter must be at least 1 year old to join this plan. The plan will end when the daughter is 25 years old or when the father chooses to end it. You can join this plan with a low or high price. This plan is called LIC Kanyadan Policy Scheme. It is a type of life insurance policy that gives benefits to the father and the daughter.
Overview of LIC Kanyadan
| LIC Kanyadan Policy | Description |
|---|---|
| Name Of Scheme | LIC Kanyadan Policy |
| Launched By | Life Insurance Corporation of India (LIC) |
| Beneficiary | Parents of girl child |
| Objective | To provide financial security and support for the daughter’s education and marriage expenses |
| Official Website | [LIC of India] or [PolicyX] |
| Launched Year | Not specified, but available in 2023 |
| Mode Of Application | Online or offline |
The Eligibility Criteria For LIC Kanyadan Insurance
The eligibility criteria for LIC Kanyadan Insurance are as follows:
- To Apply for policy the policyholder must be the parent or legal guardian of a girl child who is unmarried and below 18 years of age.
- Also the policyholder must be between 18 and 50 years of age at the time of entry into the policy.
- Therefore the policy term can be chosen from the age group between the 13 to 25 years and also it is depends upon on the age of the girl child and the desired maturity date.
- Also The premium paying term is less than 3 years than the policy term. For example if the policy term is 20 years the premium paying term is 17 years.
- The minimum sum assured is Rs. 1 lakh and the maximum sum assured is Rs. 5 crore.
- The policy offers rebates for choosing a high sum assured and paying the premium annually or half yearly.
- The policy also provides loan facility, surrender value and paid up value after paying at least 3 years of premium.
How to apply for LIC Kanyadan Insurance
To apply for LIC Kanyadan, you can follow these steps:
- First of all you have to visit your nearest LIC office or you have to contact a LIC agent and tell them that you want to invest in LIC Kanyadan policy.
- After that They will give you all the necessary information and documents required for this policy.
- Then You will have to choose the sum assured, policy term and premium payment mode according to your income and needs.
- However You will have to fill up an application form and submit it along with the required documents such as identity proof, address proof, income proof, etc.
- Therefore You will also have to undergo a medical examination if required by LIC.
- After verifying your details and documents LIC will issue you a policy document with all the terms and conditions of the policy
Required Documents To Apply
- Aadhar card
- Address proof
- Passport size photo
- Income certificate
- Birth certificate of the girl child
- Policy form (filled)
- Cheque or demand draft of the first premium.
What are The Benefits of Kanyadan Insurance
LIC Kanyadan offers several benefits to the parents and the daughter, such as:
- It helps them save money for the daughter’s future such as education and marriage.
- It gives them peace of mind by thought of their daughter will be financially secure even if something happens to them.
- It also offers the parents to get tax benefits under Section 80C and Section 10(10D) of the Income Tax Act.
-Therefore It gives them a guaranteed return on their investment as LIC is backed by the sovereign guarantee of the government. - policy kanyadaan allows the parents to choose from various premium paying modes, such as monthly, quarterly, half-yearly or yearly.
Frequently Asked Questions
Q .What is Kanyadaan Yojana?
A .Kanyadaan Yojana is a scheme launched by various state governments in India to provide financial assistance for the marriage of daughters from economically weaker sections of the society.
Q .Who is eligible for Kanyadaan Yojana?
A . The eligibility criteria for Kanyadaan Yojana may vary from state to state, but generally, the applicant should belong to a below poverty line (BPL) family, have a valid Aadhaar card, and have a daughter who is at least 18 years old and unmarried.