LIC Kanyadan Scheme: If you’re checking out kanyadan yojana then you’re at the proper place here is all information available about LIC Kanyadan Scheme Like Eligible criteria, important document, benefits, rules, and also LIC kanyadan policy online apply so this is often the right place to understand about this scheme.
Using LIC kanyadan yojana calculator you’ll calculate installment, premium, benefits, and more. Also, LIC kanyadan policy premium chart Available on the LIC Policy document so you’ll easily know it . Sukanya Samriddhi schem and LIC kanyadan policy are different but both are the simplest Scheme for the daughter.
LIC Kanyadan Yojana the way to Apply ?
In India, when a daughter is born, the householder gets very worried, for which she is afraid of giving birth to girls. The biggest reason for this is dowry, which is very difficult for a middle-class family to collect. But those who are a little poorer have a little more trouble with their daughter’s marriage.
But now there is good news for her parents for a better future for their daughters, which is why LIC will be investing in them. Today we are going to tell you about it in which you will get this good return of LIC. The name of this LIC plan is Kanyadan Policy.
Learn a few special things about the policy
The age for taking the LIC Kanyadan policy should be from one year to 20 years, and this plan will be up to 5 years. But the premium has to be paid for 3 years only. But you also get the policy according to the different ages of your second daughter, in which the time limit of this policy will be reduced according to the age of the daughter.
LIC Kanyadan Scheme
Be sure to visit the nearest LIC office once and for all and you will find answers to other related questions.
- So take a look at this policy
- Premium has to be paid for 5 years.
- 151 per day or Rs. 500 per month.
- In the meantime, if the insured dies, the family will not have to pay any premium.
- If the insured dies, the daughter will get Rs 1 lakh every year during the year between the policies.
- Upon completion of the policy, the nominee will get Rs 5 lakh.
- This policy can be taken with more or less premium.
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Key Features of LIC Kanyadan Policy
- The plan comes out with great features. Some of them are mentioned below
- Offers to protect your daughter’s future financially independent.
- It offers cover for life risk over a certain period of time up to 3 years before the maturity date.
- The insured will get a lump sum amount at the time of maturity.
- In case the father expires, then the premium is waved off.
- Immediate payment of Rs. 10 lakhs in the case of an accidental demise.
- Immediate payment of Rs. 5 lakhs in the case of non-accidental/natural dmise.
- Rs. 50,000 will be paid every year until the maturity date.
- Full maturity amount will be availed at the time of maturity.
- Those who stay outside India can also go for this plan without visiting in the country.
- The policy also has some mix features of the LIC Jeevan Lakshya policy.
Eligibility Criteria for LIC Kanyadan Yojna
- The policy can be purchased only by the father of the daughter and not by the daughter herself.
- The age limit for buying the plan should be at least 18 years and not more than 50 years.
- Daughter’s age should be at least 1 year at the time of purchasing the policy.
- The minimum Sum Assured at the time of maturity is Rs. 1 lakh.
- The maximum Sum Assured at the time of maturity has ‘No Limit’ (depends on the cost of premiums paid by the policyholder).
- Policy tenure for 13 to 25 years is available for the applicant.
- Premium paying term is 3 years less than the policy term e.g. if the policy term is 15 years, then the policyholder has to pay the premiums for (15-3)=12 years.
Additional Details of LIC Kanyadan Policy
Any benefit or additional coverage shall not be provided in the case If the policyholder commits suicide within 12 months from the initiation of the policy.
Free Look Period
A free look period of 15 days is provided to the policyholder from the date of commencement of the policy if he/she is not satisfied with the clauses of the policy or any related information.
During the grace period the policyholder is not charged with any late fees or penalty if the due date for payment is over. The policy allows a grace period of 30 days for annual, biannual or quarterly premium payments and 15 days for monthly premium payments. Without asking further questions, the policy will be terminated if the policyholder is unable to pay the premium before the expiry date of the grace period.
The policyholder is allowed to surrender the policy anytime after paying the premium for at least 3 consecutive years. The guaranteed surrender value will be the total of the percentage of total premiums excluding rider premiums that depends on the policy term and surrendered policy year.