LIC Kanyadan policy is a great financial coverage for your daughter’s future. This is a unique plan as compared to other plans which can create a backup fund for future expenses for your daughter’s marriage and education.
When a girl child is born in the family, the first thing that bothers the family the most is her education and marriage expenses. But now LIC has started a scheme that helps families financially for the future expenses of their daughters. LIC Kanyadan policy is a great financial coverage for your daughter’s future. This is a unique plan as compared to other plans which can create a backup fund for future expenses for your daughter’s marriage and education.
What is LIC Kanyadan policy?
- Gives complete financial freedom to your daughter.
- If something happens to the Guardian, LIC Kanyadan policy will always protect your daughter.
- The policy helps you with lifelong financial independence of the daughter and even after getting married.
- If the father dies, the premium stops.
- Immediate payment of 10 lakhs in case of accidental death.
- Immediate payment of 5 lakhs in case of non-accidental death.
- 50000 payments every year till maturity date.
- Benefits of LIC Kanyadan Policy
- The premium paying term is limited in this policy.
- The premium paying term is 3 years less than the policy term.
- There are various premium payment modes available like monthly, quarterly, half-yearly and yearly.
- If the applicant dies within the policy term, 10% of the Sum Assured is payable every year up to 1 year before the maturity date.
- The policy term of this plan is between 13 to 25 years.
- The policyholder has the option to pay for 6, 10, 15 or 20 years.
- In case the policyholder i.e. the father of the daughter dies within the policy term, the family will be given extra.
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 of purchase of the plan should be at least 18 years and not more than 50 years. The daughter’s age should be at least 1 year at the time of purchasing the policy. Minimum Sum Assured at the time of maturity is Rs. 1 Lac. A policy term of 13 to 25 years is available for the applicant.
LIC Kanyadan policy
LIC Kanyadan policy is a unique plan and the only one in the insurance sector. It gives financial assistance as well as child necessities of the girl child in case of death of the parents in the scheme.