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LIC Kanyadaan Policy: As soon as a daughter is born in India, people start worrying about her education and marriage first. If you are also worried about this and are planning for your daughter’s future, then you must know about LIC’s Kanyadan policy. By taking this wonderful policy, you can not only secure the future of your daughter, but can also get her free from the tension of marriage. Let us tell you about this policy in detail.
What is LIC’s Kanyadan policy?
The father of the beneficiary of LIC’s Kanyadan policy should be at least 30 years old and the daughter should be at least one year old. You can take this policy for 13 to 25 years. In this scheme you have to deposit Rs 121 per day. That is, in a month you will have to deposit a total amount of Rs 3,600. On completion of the maturity period of the policy, you will get a lump sum amount of Rs 27 lakhs. Even if you deposit Rs 75 per day, you will get an amount of Rs 14 lakh after 25 years.
benefit of tax exemption
LIC’s Kanyadan policy comes under the purview of section 80C of the Income Tax Act 1961, hence tax exemption is also available on the premium deposited. In this, you can get tax exemption on an amount of up to Rs 1.50 lakh.
required documents
To take LIC Kanyadan policy, you will have to submit some important documents. In this, your Aadhaar card or identity card, income certificate, residential proof, passport size photo. Apart from this, the signed application form and the birth certificate of the daughter will also have to be given. You can pay the premium either by check or cash.
Conditions in case of death of the policy holder
If the policyholder dies prematurely, his family members will not have to pay the premium. The family will get Rs 10 lakh in case of accidental death and Rs 5 lakh in case of death under normal circumstances. Apart from this, on completion of 25 years, the nominee will get the entire Rs 27 lakh.
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