If you are planning an investment plan for your daughter, then LIC’s scheme can be helpful for you.
Actually, as soon as the daughters are born, the parents start adding money for her better future. For this, we start planning to take a good investment policy, so that there is no hindrance in the education and marriage of the daughter. In such a situation, the Life Insurance Corporation of India (LIC) has come up with a special scheme keeping in mind the daughters. Its name is LIC Kanyadaan Policy. This scheme of LIC helps low-income parents to raise funds for the marriage of their daughters.Also Read:ATM Cash Withdraw: What is the free limit for withdrawing cash from ATM? Know the rules of RBI
Know, details about this policy
Under the LIC Kanyadan policy, an investor has to deposit Rs 130 per day (Rs 47,450 per annum). Premium will be paid for less than 3 years of the policy term. After 25 years, LIC will pay him around Rs 27 lakh. The minimum age of the investor for enrollment in LIC Kanyadaan policy is 30 years and the minimum age of the daughter of the investor should be 1 year.Also Read:Gram Sumangal Scheme: Invest in this post office scheme, you will get a return of up to Rs 14 lakh for Rs 95
27 lakhs will be available on maturity
The minimum maturity period of this policy is 13 years. If the insured person dies due to any reason, then the person will have to pay an additional Rs 5 lakh on behalf of LIC. If a person takes insurance of Rs 5 lakh, then he will have to pay a monthly installment of Rs 1,951 for 22 years. On completion of time, Rs 13.37 lakh will be received from LIC. Similarly, if a person takes insurance of 10 lakhs, then he will have to pay an installment of Rs 3901 for the month. 26.75 lakh will be paid by LIC after 25 years.Also Read:OLA e-Scooter: Colours, Price, Mileage, Features & Specs – Know Everything in One Click
Tax exemption will be available
Under Section 80C of the Income Tax Act 1961, an investor can claim tax exemption on the premium paid. Tax exemption is maximum up to Rs 1.50 lakh. Explain that for applying for this scheme, important documents like Aadhar Card, Income Certificate, Identity Card, Birth Certificate are required.Also Read:LPG connection will be available even without ration card or residence certificate, apply like this
