Kanyadan Plan

• If a person dies under the terms of this insurance after signing up, his family will not be responsible for paying the premium

• Anyone can contribute to this plan for his daughter’s wedding

• Additionally, the LIC firm will provide his family ₹1 lakh each year, and when the insurance has been in effect for 25 years, the nominee would get a separate payment of ₹ 27 lakh 

• This innovative plan establishes a fund for your daughter’s future education and marriage.

Benefits of LIC Kanyadan Policy 

• You may ensure your daughter’s future financial independence with the LIC Kanyadan Policy

• Prior to the maturity date, this policy will offer life risk coverage for a maximum of three years

• The life guaranteed under this insurance will receive a lump sum payment at maturity

• If the father passes away, the LIC Kanyadan Policy does not require the premium to be paid

• The beneficiary’s relatives will receive ₹ 1,000,000 in the event of his accidental death

• Up to the maturity date, a premium of  ₹ 50,000 will be paid annually

• The LIC Kanyadan policy’s advantages are also available to Indian people who reside outside of India

• If the recipient passes away due to a natural cause, then ₹ 5,00, 000 will be given.

• Under the LIC Kanyadan Yojana, the payment period for the premium is constrained

• The LIC Kanyadan Yojana offers savings opportunities, insurance, and an insurance plan that generates profits

• Under the LIC Kanyadan Yojana, the premium payment period is fewer than three years

• There are several ways to pay the premium under the LIC Kanyadan Yojana, including monthly, semi-annually, quarterly, and yearly

• If an applicant passes away before the policy’s maturity date, 10 percent of the sum insured will be paid each year up to that point

• In order to make the LIC Kanyadan Scheme easier for policyholders to understand, it is also accessible in Hindi

• If the policyholder has paid his or her premium for three consecutive holders, he or she may request for a loan against the value of the policy

• According to the Tax Exemption Laws of India, 1961, the LIC Kanyadan Scheme is free from paying taxes

• The LIC Kanyadan Yojana offers policies with terms ranging from 13 to 25 years

• The policyholder is given the choice of making a payment for a period of 6, 10, 15, or 20 years

• Additional benefits will be given to the family members of such policyholders in the event that the father of the daughter passes away during the policy term

• The policyholder will receive the disability rider benefit if they have been paying their premiums for at least 5 years

• The Life Insurance Corporation of India would cover 80% of the premium cost in the event that the policyholder dies by suicide within a year of the application date

How to Avail of the Benefits of the Scheme?

You must go to your local LIC office or LIC agent and mention that you wish to invest in the LIC Kanyadan policy if you are one of the interested beneficiaries who want to apply under this policy. After giving the LIC agent all of your information and supporting documentation, he will complete your form. He will then explain the terms of the LIC Kanyadan Policy, and you must pick one according to your income. You can sign up  online for the LIC Kanyadan Policy through this method. You may go to the LIC’s official website to learn more about the program.

Visit Gaur Insurance Adda Search  if you have any queries regarding the scheme.