LIC Kanyadan Policy, Advantages, Eligibility Criteria, Maximum 2 CRORE

LIC Kanyadan Policy details | kanyadan policy | www.lic.in |

LIC Kanyadan Policy’s official name is LIC Jeevan Lakshay(Plan No.833) and also known as LIC Kanyadan Policy. LIC Kanyadan Policy is an ideal plan for your daughter’s future. It gives financial freedom to your daughter. LIC Kanyadan policy is best for future expenditure of your daughter. You can use the LIC Kanyadan Policy for daughters education, marriage. The LIC Kanyadan Policy is made up for the safe and secure future of your daughter. The policy will give your daughter freedom.

Know About LIC Kanyadan Policy

You can understand this policy with some examples and it will be helpful for you. You have to be paid premium for a short time and you can choose for yourself for 6, 10, 15, 20 years according to your comfort. We can understand this with a simple example :

If you save Rs 70 daily for his daughter so under this Policy you will get Rs 14 lakh at the time of marriage of your daughter.

Assume that you can save Rs 10000 per day for your girl child. Then the benefit she will receive after 15 years is a total of 50 lakhs per year until she turned the age of 16. The benefits get paid to your daughter in 10 equal installments until she turns the age of 26 years. Your daughter gets a pension for a lifetime of RS 45000per month once she completes the age of 26 years. She also receives a life insurance cover of Rs 1 crore.

LIC Kanyadan Policy is a very helpful policy for the girl child it helps her to give financial freedom and the same time it will help her to fulfill her requirements in the case of her parent’s death.

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Advantages of LIC Kanyadan Policy

You always try to give best to your daughter. But after some time you realize that there is not enough time and money for her education, marriage, and other expenses. But LIC Kanyadan Policy helps you to give your daughter a great gift from parents side. LIC Kanyadan Policy helps your daughter for her education, marriage, and other unseen problems. The Policy LIC Kanyadan providing financial freedom to your daughter. She can help herself by using this LIC Kanyadan Policy. The policy will help her for the lifetime. You can fulfill her all the future needs and dreams with the help of LIC Kanyadan Policy.

 Advantages of the LIC Kanydan Policy given below

  • Gives financial freedom for the life to your daughter
  • If you do not live LIC Kanyadan Policy will help your daughter
  • LIC Kanydan Policy will help her even after marriage
  • You have to be paid premium for a short time and you can choose for yourself for 6, 10, 15, 20 years according to your comfort

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Main features of the LIC Kanyadan Policy

Here are some of the main features of Kanyadan Policy LIC which will help your daughter’s marriage.

  • If the father has died then the premium will automatically stop
  • In the case of an accident demise, Rs 10 lakh will be given to you immediately
  • In the case of non – accidental demise Rs 5 lakh given to you
  • Every year 50000 will pay until the date of maturity
  • The full amount at the time of maturity

Eligibility Criteria

  • Maximum Age 18 to 50
  • Maximum Maturity Age 65 Year

Premium Paying Term:

Premium paying term is 3 year

Sum Assured According to the Kanyadan Policy LIC

  • Minimum  Sum Assured: Rs. 1,00,000
  • Maximum Sum Assured: No Limit

The basic Sum Assured shall be in multiples of Rs. 10,000/- only

Policy Term

You can avail the LIC Kanyadan Policy for 13 to 25 years

Modes Of Premium Payment

LIC Kayadan Policy user can pay Yearly, Half Yearly, Quarterly, and Monthly
The modes of premium payment allowable are Yearly, Half Yearly, Quarterly, and Monthly.

LIC Kanyadan Policy’s Benefits in the Case of Death

In the case of death of the Policy user, the nominee will get the amount of 10% of the basic sum assured on every policy anniversary from the year of the death till the date of maturity.

Maturity Benefits

If Policy user uses until the end of the Policy term and paid all the due premiums then the benefits from the policy will be given to the nominee  Basic Sum Assured + Bonus + Final Addition Bonus.

Tax Implementation

Premium paid for this plan is allowable for availing refund on income tax under section 80c and the maturity amount is free from tax as per section 10D

Loan on Policy 

After successful payment of 3 years of premiums, a loan can be availed on the policy.

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If You Stop To Paying Premium Of LIC Kanyadan Policy

Guaranteed Surrender Value is availed if the policy is surrendered after at least three years’ payment of premiums. It’s a percentage of the total premiums paid till date. These surrender value factors, which are guaranteed will depend on the policy term and policy year in which year the policy is surrendered.

About the author

Mukesh Jindal

Mukesh Jindal

My name is Mukesh Jindal, and I am from New Delhi, India. I am an engineer by profession. I am employed by an IT company in which I work. My topics of interest include technology, mobile, and apps.

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