LIC Kanyadan Policy Scheme has been started by the Life Insurance Company of India to invest in the marriage and education of daughters. Under this scheme, any person can invest in the marriage of his daughter. This plan is for 25 years. Under this scheme, people will have to pay a premium of Rs 3600 per month by saving Rs 121 per day, but people will have to pay the premium only for 22 years. 27 lakhs will be given to you after the completion of 25 years of this LIC Kanyadan policy.
LIC Kanyadan Policy
- 1 LIC Kanyadan Policy
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To take the policy under LIC Kanyadan Policy Scheme, the minimum age of the father should be between 18 to 50 years and the minimum age of the daughter should be 1 year. This plan will be available for 25 years. This LIC Kanyadan policy scheme can also be available according to the different ages of you and your daughter. The time limit of this policy will be reduced according to the age of the daughter. If a person wants to pay more or less premium then he can join this policy plan and can take advantage of this plan.
Life Insurance Corporation Kanyadan Policy Scheme 2021 – Overview
|Name of the Organizer||Life Insurance Corporation of India|
|Policy Name||Kanyadan Policy|
|Benefits for||Only Girls Child|
|Availability of Policy||Available Now|
|How to Apply||Apply Online|
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The objective of the LIC Kanyadan Policy Scheme
- Exclusions: If the policyholder commits suicide within 12 months of the commencement of the policy, then no benefit of this policy will be provided to him.
- Free Look Period: A free look period of 15 days is provided to the policyholder from the date of commencement of the policy. If that policyholder is not satisfied with any of the terms and conditions of the policy, he/she can opt-out of the policy.
- Grace Period: A grace period of 30 days is provided under this policy in the case of annual, quarterly payments. A grace period of 15 days is provided in case of monthly payments. No late fee is collected from the policyholder during the grace period. If the policyholder does not pay the premium before the expiry date of the grace period, his policy will be terminated.
- Surrender Value: The policyholder is allowed to surrender the policy under this plan after paying the premium for 3 years.
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Key Facts of LIC Kanyadan Policy
- Through LIC Kanyadan Policy, you can make your daughter’s future financially independent.
- This policy will provide life risk cover for a period up to 3 years prior to the maturity date.
- Under this policy, a lump sum amount will be provided to the insured at the time of maturity.
- Under LIC Kanyadan Policy, no premium will have to be paid in case the father dies.
- If the beneficiary dies due to the accident, then 1000000 rupees will be provided to his family.
- If the death of the beneficiary is due to a natural cause then in this case ₹ 500000 will be provided.
- Premium of ₹ 50000 per annum will be paid till the date of maturity.
- Indian citizens living outside India can also take advantage of the LIC Kanyadan policy.
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Benefits of LIC Kanyadan Policy 2021
- Under this policy, if the insured dies, his family will give Rs 5 lakh immediately.
- In this plan, you also get the benefit of a bonus declared by LIC every year.
- If the insured dies in an accident, then his family will give Rs 10 lakh.
- A person deposits Rs 75 per day, then after 25 years of paying a monthly premium, Rs 14 lakh will provide at the time of the daughter’s marriage.
- If a person saves Rs.251 per day, then after 25 years of paying a monthly premium, Rs.51 lakh will be given.
- This LIC Kanyadan policy keeps paying every year for the entire life even after getting married.
- If the death of the insured occurs between the term of 25 years, 10% of the Basic Sum Assured will be given every year from the year of death till the date of maturity.
- Any person can save Rs 75 per day and get Rs 11 lakh for the marriage of his daughter.
- The premium payment term under the LIC Kanyadan policy is limited.
- This policy is a for-profit endowment insurance plan that comes with insurance and savings.
- The premium paying term is 3 years less as compared to the policy term.
- There are different premium payment modes under LIC Kanyadan policy which are Monthly, Quarterly, Half-Yearly, and Yearly.
- If the beneficiary of this plan dies within the term of the policy, 10% of the Sum Assured is payable every year up to 1 year before the maturity date.
- The term of LIC Kanyadan policy is between 13 to 25 years.
- The policyholder can choose to pay as per his requirement. Which is 6, 10, 15, or 20 years.
- The benefit of a disability rider can also availe under this plan. This benefit can be availed only if the premium paying tenure is at least 5 years.
- Under this plan, if the policy is active and the policyholder has paid the premium for 3 years, then the loan can also obtain through this policy.
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Eligibility for LIC Kanyadan Policy Apply Online
- This policy can be purchased only by the father of the daughter.
- The age limit under this scheme is 18 to 50 years.
- The daughter’s age should be at least 1 year to buy the LIC Kanyadan policy.
- The minimum Sum Assured at the time of maturity should be ₹100000.
- There is no limit on the maximum Sum Assured at the time of maturity.
- There is a policy term of 13 to 25 years under this plan.
- The term of the policy under LIC Kanyadan policy is 3 years more than the premium paying term.
- If the policy term is 15 years, then the policyholder will have to pay the premium for 12 years only.
Documents Required For Kanyadan Scheme 2021
- Aadhar Card
- Income Certificate
- Identity Card
- Address Proof
- Passport Size Photo
- Duly Filled And Signed Form Of Proposal Of The Scheme
- Check Or Cash To Pay The First Premium
- Birth Certificate
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How to apply for Life Insurance Corporation Kanyadan Scheme ?
- If the interested person wants to apply under this scheme Licindia.in.
- So by going to your nearest LIC office, tell any employee or officer sitting there that you want to invest in LIC Kanyadan policy.
- Then he will give you all the necessary information for this.
- You have to choose it according to your income.
- After this, you will give all your information and documents to the agent present there so that he can fill your form.
- In this way, you can invest in LIC Kanyadan Policy.
- Apart from this, if any LIC agent is well known to you, then you can get all the information from him and take the necessary advice.
- LIC Kanyadan Policy has started its official website, you can get more information regarding it by visiting that website.
This post was last modified on October 12, 2021 10:24 am