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Currently, the economic situation of the country is very worrying due to inflation. Parents are planning to save and invest in everything from their children's education to marriage. Among these, the largest life insurance company of the Government of India, Life Insurance Corporation of India (LIC) has introduced a special policy plan for daughters, which is important for parents to know. Read the full report for details on this new scheme.
What is LIC Kanyadan policy?
LIC Kanyadaan Policy is a term insurance plan, available for a tenure of 13 to 25 years. Under this policy, parents can set up a fund of Rs 22.5 lakh for their daughters. There are convenient monthly, quarterly, half-yearly and annual premium payment options for investments. After investing in this policy the total amount including the sum assured, bonus and final bonus is available at maturity. Investors in the LIC Kanyadaan policy get a loan facility only after 3 years. This is an important aspect of saving savings.

Investment amount and profit
The policy also has the benefit of a grace period in paying the premium. If the premium is not paid in any month, the investor can pay the premium within the next 30 days without a late fee. Besides, tax benefits under section 80C and tax benefits on maturity amount under section 10D are also available. Let us inform you that if one invests in LIC Kanyadaan policy for 25 years, one has to pay a premium of Rs 41,367 per annum and around Rs 3,447 per month. Through this, it is possible to gain 22.5 lakh rupees after 25 years. This long-term investment plan is especially helpful in securing the future of children.
Other Benefits of Kanyadaan Policy
Also, if the investor dies during the term of the policy, the child will be exempted from paying the premium. In this case, the girl will get Rs 1 lakh per year and will get a fixed amount after maturity. An accidental death benefit of Rs 10 lakh is also available in case of an accident. LIC Kanyadan policy is a very viable plan in the current uncertain economic scenario. It not only helps secure the future of daughters but also serves as a reliable means of savings and investment for parents.