Inflation is constantly increasing in the country. In such a situation, parents are worried about the future of their children. They invest in many places along with savings for the education and marriage of children. Currently, there are many policy plans available in the market for the future of children. The country's largest insurance company Life Insurance Corporation (LIC) has also started a special policy plan for daughters.
LIC Kanyadaan Policy is a very good option for the bright future of daughters. In this plan, you can deposit a fund of Rs 22.5 lakh for your daughter. Apart from this, tax benefits, loan facilities, etc. are also available in this scheme. If your daughter's age is between 1 year to 10 years, then you can invest in this plan.
About LIC Kanyadaan Policy
LIC Kanyadaan Policy is term insurance. The tenure of this policy is 13-25 years.
In this, you can select any one option from monthly, quarterly, half-yearly, and yearly for premium payment.
At the time of maturity, you get the total amount by combining Sum Assured + Bonus + Final Bonus.
To invest in this scheme, the age of the daughter's father should be less than 50 years.
Benefits of LIC Kanyadaan Policy
The investor gets the facility of the loan in the third year of purchasing the LIC Kanyadaan policy.
After two years of the policy, the investor has the option to surrender.
In this policy, there is an option to pay a premium in the grace period. In this, if you do not pay the premium in any month, then you can pay the premium in the next 30 days without a late fee.
On payment of premium in Kanyadaan policy, one gets the benefit of deduction under 80C.
The tax benefit is also available on maturity amount under section 10D.
How much benefit will be available after maturity?
If you invest in LIC Kanyadaan policy for 25 years you have to invest Rs 41,367 annually. This means that the premium will be around Rs 3,447 every month. For a maturity of 25 years, you have to invest only for 22 years. Now after maturity, you will get a profit of about Rs 22.5 lakh.
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