LIC Kanyadan Policy: Invest Rs.121 Daily, Get Rs.27 Lakh

LIC Kanyadan Scheme, Apply Online, LIC Kanyadan Policy 2020, LIC Kanyadan, Kanyadan Policy Form: As we all know, how important for all of us to save some money for our future use. Life Insurance Corporation of India is one of them who provides the number of schemes for all of us to save some amount of earnings for our better future. Now, LIC (Life Insurance Corporation of India) has begun LIC Kanyadan Policy Scheme to save money for the education and marriage of daughters. In this scheme, any citizen or person can apply to invest for his or her daughter marriage. Let’s inform you all that this overall plan or procedure is applicable for only twenty-five years. For this scheme, every person who wants to take benefit from this scheme should save Rs.121/- every day and the premium allowance is of Rs.3600/- every month. In this scheme, every person can pay for only twenty-two years. After the finishing of 25 years of LIC Kanyadan Policy, you will get 27 lakhs of amount from LIC. In this article, we will discuss everything related to the LIC Kanyadan Policy Scheme, Objectives, Required Documents, Benefits, Features, the procedure to apply online, and much other information. Interested applicants should read this article very carefully.

LIC Kanyadan Scheme

Topic Name LIC Kanyadan Policy: Invest Rs.121 Daily, Get Rs.27 Lakh
Article Category LIC Kanyadan Policy Scheme 2020
LIC Kanyadan Policy 2020: Objective
LIC Grant Policy Premium Amount
Life Insurance Corporation Kanyadan Policy 2020: Features
LIC Kanyadan Policy Apply Online
LIC Kanyadan Policy Additional Information
Frequently Asked Questions
Official Website Click Here
Govern By Life Insurance Corporation of India (LIC)


LIC Kanyadan Policy Scheme 2020

As we know, this Kanyadan policy scheme has been applicable for only daughters. Every one of you should get this insurance scheme for about 13 to 25 years. Below this LIC Kanyadan Policy, every single person can pay the premium allowance for not more than three years. This premium allowance should be made according to the LIC terms & conditions. For this Policy, anyone should receive insurance of One Lakh Rupees. In this article, we will discuss everything related to the Kanyadan Policy application process, eligibility conditions, etc. So, every one of you should read this article very carefully.


Life Insurance Corporation Kanyadan Policy 2020

If any applicant wants to take the Policy below LIC Kanyadan Policy Scheme, then the minimum father age should be between 18 to 50 years, and their daughter minimum age should be one year. This LIC Kanyadan Policy Scheme has been applicable for twenty-five years. You can apply for this Policy according to the different age group of you and your daughter. According to the age group of your daughter, the total time-limit of Policy also is reduced. If there is any citizen who wants to invest more or less premium, then he may join this Policy and take benefit from it.


LIC Kanyadan Policy 2020: Objective

Here we will discuss the various objectives behind LIC Kanyadan Policy. The most basic aim or goal of this LIC policy is to provide money for daughter’s marriage. As we know, that everyone does not save his or her savings for their daughter’s weddings. So, the Life Insurance Corporation has begun the Policy to start investing for their daughter marriage. In this scheme, people should be able to add money or savings for their daughter future. In this scheme, every father should be able to fulfil the dreams of their daughter and always be free from any money problems during the daughter’s wedding day.

 

  • The benefit of LIC grant policy income tax

Here we will discuss the advantages of LIC policy income tax. Let’s inform you all that below LIC Kanyadan, Income Tax Act 1961 Section 80C has a concession from premium. This concession amount should get up to a maximum of Rs.1.5 lakh. At the same time, that citizen or people should be able to get concession during the amount of maturity or claim of death below section 10 (10D).

 

  • At what age will LIC Kanyadan Policy be applicable?

For LIC grant policy, your min age should be of thirty years, and your daughter min age should be one year. You will be able to get this policy scheme for 25 years. Below this scheme, every eligible applicant should pay the premium for 22 years. Let’s remind you all that you don’t have to apply for this scheme when your daughter’s age is one year old. Not like that. You can apply for this Policy Scheme anytime according to your need. The policy total time limit should increase or decrease as per the daughter’s age.


LIC Grant Policy Premium Amount

As we told above, below this policy scheme, it will all depend on the applicant to decrease or increase the premium amount as per their income. It is also not necessary that the applicant will be able to deposit Rs.121 daily. If an applicant has more money to deposit, then he or she may deposit. If for some reasons, the applicant did not deposit Rs.121, then he may opt for a plan that has a lower premium. If anyone here who want to apply for this LIC Kanyadan Policy and want to read more information related to this policy scheme, then you may visit an official website of Life Insurance Corporation (LIC) or you meet LIC agent.

Kanyadan Policy

  • Time to pay the premium

Here we will discuss the timings to pay the particular LIC Premium. Let’s inform you all that every applicant should pay the premium as per their convenience below this policy scheme. For this, you can submit your tip daily, six months, four months, or one month. It wholly depends on you. Whenever you feel right or have money to pay, you can only spend or submit your policy premium.


Life Insurance Corporation Kanyadan Policy 2020: Features

Here we will give you the basic features of the LIC Kanyadan Scheme. The steps are as follows:

  • Below this policy scheme, if, unfortunately, any person dies after registration, then his or her family would not pay any premium.
  • And, the applicant’s family has got Rs.1 lakh every year from LIC company. After completing twenty years of the policy, then LIC Company will provide separate Rs.27 lakh to an applicant’s family.
  • Below this Scheme, any citizen or person should invest in his daughter’s marriage.
  • It is a unique policy scheme that will be provided by the LIC company to save funds for the marriage of the education of your daughter.


Advantages

  • Below this scheme, If an insured person or applicant dies, then the company will provide Rs.5 lakh immediately to his family.
  • In this scheme, the policyholder death benefit should be pay in a yearly instalment that meets the family’s financial needs after the policy holder’s death.
  • Let’s inform you all that below this scheme, you will be able to receive the advantage of a bonus which was mention by LIC every year.
  • If unfortunately, an insured person dies in an accident, then his or her family will get Rs.10 lakh.
  • If any person saves Rs.75/- per day, then he will be able to get Rs.14 lakh after completing 25 years of pay money as a monthly premium during the time of his daughter’s marriage or education.
  • If any person saves Rs.251 per day, then he will be able to get Rs.51 lakh after the completion of 25 years of pay money as a monthly premium.
  • Let’s inform you all that the LIC Kanyadan Policy Scheme keeps working per year even after getting married for the entire life.
  • If unfortunately, an applicant’s death occurs between the age group of 25 years, then the family has to pay 10% of the real sum assured every year from the death date till maturity time.
  • Any citizen can pay Rs.75/- per day and receive Rs.11 lakh for the marriage of their daughter.


Important Documents

Here we will discuss the essential documents that we will need during the LIC Kanyadan Policy Scheme registration process. The papers are as follows:

  • The time of the entry of an applicant should be in between 18 years to 50 years.
  • Applicant Income Certificate
  • Address Proof
  • Policy Term should be 13 to 25 years
  • Identity Card
  • Birth Certificate
  • Applicant Aadhaar Card
  • Passport size photo
  • To pay the first premium need to have a cheque or cash.
  • Duly filled & signed form of the scheme proposal.


LIC Kanyadan Policy Apply Online

Here we will discuss the procedure to apply online for LIC Kanyadan Policy Scheme. The steps are as follows:

  • If you want to join this LIC Kanyadan Policy online, then visit the official website of Life Insurance Corporation, which is as follows Click Here.
  • If there is any candidate or applicant who wants to apply for this scheme, you may visit or contact the nearest LIC company or agent.
  • After visiting the LIC agent or company, tell them you want to apply for the LIC Kanyadan Policy. The LIC agent has provided you with all the important information related to the LIC Kanyadan Policy. It depends on you to choose the particular plan as per your income.
  • Now, agents provide you with all the necessary information on that particular plan and documents.
  • Now, they will fill your application form.
  • In this manner, every citizen or applicant can join this LIC Kanyadan Policy Scheme 2020.
  • If anyone gets to know more details about the LIC Policy scheme, you may visit LIC’s official website.


To know LIC Kanyadan Policy

Here we will give you a basic idea of the LIC Kanyadan Policy and its benefits. Let’s take an example if someone has applied for this LIC Kanyadan Policy at the age of 30 years, and he decided to apply for this scheme for a term policy of fifteen years. The total investment for the Sum Assured (maximum) policy is Rs.5 Lakhs. 

Term Policy Sum Assured Premium Amount second Onward Year Premium Payment Term (15-3) Premium Paid (1 Year) Purchase Year
15 Years Rs.5 lakhs 44 years 12 years Rs.39966 + 4.50% GST 2019


LIC Kanyadan Policy Additional Information

Here we will discuss some of the extra information related to the LIC Kanyadan Policy Scheme. The points are as follows:

  • Exclusions

If unfortunately, any policyholder or applicant commits suicide between the twelve months of the policy, they will not benefit or extra coverage. 

  • Free Look Period

Every policyholder should provide a free look time of fifteen days from the policy announcement if they do not satisfy the policy clause of any information. 

  • Grace Period

In this grace time, every applicant or policyholder does not charge any late fees if the last date for payment ends. This policy admits a grace period of around thirty days for yearly, quarterly, or half-yearly payment of premium. And, for monthly premium payments, it has allowed taking fifteen days. Without saying anything, this policy scheme will end if an applicant would not save any money before the date of the grace period expired date.

  • Surrender Value

In this, every applicant has admitted to policy surrender after they submit the premium payment for around three years. The total value is the percentage value of premium that depends upon the term policy & policy surrender year.


I hope you will understand this article very well and are ready to take advantage of it. Suppose you face any problems related to the LIC Kanyadan Policy Scheme, Objectives, Required Documents, Benefits, Features, the procedure to apply online. In that case, you may ask your queries in the given comment box.


Frequently Asked Questions


Name all essential documents that should be needed while applying for the LIC Kanyadan Policy Scheme?

The necessary documents are as follows The time of the entry of an applicant should be in between 18 years to 50 years, Applicant Income Certificate, Address Proof, Policy Term should be 13 to 25 years, Identity Card, Birth Certificate, Applicant Aadhaar Card, Passport size photo, To pay the first premium need to have a cheque or cash, Duly filled & signed form of the scheme proposal.


At what age should I apply for the LIC Kanyadan Policy Scheme?

For LIC grant policy, your min age should be of thirty years, and your daughter min age should be one year.


What is the maturity period of Kanyadan Policy Scheme?

According to the Life Insurance Corporation of India, The maturity period of Kanyadan Policy Scheme is for 25 years.

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