LIC Scheme For Daughters: Daughters are the form of Lakshmi, if you also have a daughter and you want Lakshmi ji’s grace to always remain on your daughter, then LIC’s Kanyadaan policy can fulfill your needs. This policy can save your daughter’s future.
LIC’s Kanyadaan Policy for Daughters
LIC’s Kanyadan policy is specially designed keeping in mind those fathers who have low income, and who want to add money for the daughter’s marriage. Under this policy, the father has to pay a premium of Rs 130 per day i.e. Rs 47,450 annually, which becomes 27 lakhs on maturity. Maturity of LIC’s Kanyadaan policy is 25 years, but premium has to be paid only for 22 years. No premium has to be paid for the remaining 3 years.
Get Rs 27 lakh on maturity
The age of the purchaser of this policy should be at least 30 years. Whereas the age of the girl child for whom the policy is being purchased should be at least 1 year. That is, when the daughter is 26 years old, she will get 27 lakh rupees. This amount can be used for daughter’s marriage or higher education. However, this policy can also be purchased for 13 years.
Cover is available with the policy
In this policy, along with saving, cover is also available. If the father dies in an accident, the remaining premiums are waived off and the daughter gets an immediate payment of Rs 10 lakh. If the father dies under normal circumstances, then he gets Rs 5 lakh immediately and Rs 50 thousand annually till the maturity of the policy. The full amount is paid at the time of maturity.
Maturity in 25 years
Maturity of LIC’s Kanyadaan policy is 25 years, but premium has to be paid only for 22 years. No premium has to be paid for the remaining 3 years.
Tax exemption is also available
If the father buys a policy of 5 lakh sum assured, then he will have to pay the premium for 22 years, his monthly premium will be around Rs 1951, on maturity he will get Rs 13.37 lakh. Similarly, if there is a sum assured of 10 lakhs, then the monthly premium will be Rs 3901. After maturity, LIC will give about Rs 27 lakh to the investor. In this, the investor also gets tax exemption on premium under 80C, the investor can claim tax exemption on investment of Rs 1.5 lakh annually.
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