LIC Kanyadan Scheme: If you’re checking out kanyadan yojana 2022 then you’re at the proper place here is all information available about LIC Kanyadan Scheme Like Eligible criteria, important document, benefits, rules, and also LIC kanyadan policy online apply so this is often the right place to understand about this scheme.
Using LIC kanyadan yojana calculator you’ll calculate installment, premium, benefits, and more. Also, LIC kanyadan policy premium chart Available on the LIC Policy document so you’ll easily know it . Sukanya Samriddhi schem and LIC kanyadan policy are different but both are the simplest Scheme for the daughter.
Learn a few special things about the policy
The age for taking the LIC Kanyadan policy should be from one year to 20 years, and this plan will be up to 5 years. But the premium has to be paid for 3 years only. But you also get the policy according to the different ages of your second daughter, in which the time limit of this policy will be reduced according to the age of the daughter.
Add Rs 151 per month for daughters’ marriage: In this LIC Kanyadan policy, you can get a plan of around Rs. 200 per month at Rs. 151 per day.
But if someone wants to pay a lower premium or more premium, you can also get such a plan. According to this special policy of LIC, you will have to deposit money at the rate of Rs 151 per day, and you will get Rs 5 lakh in 3 years instead.
Be sure to visit the nearest LIC office once and for all and you will find answers to other related questions.
- So take a look at this policy
- 1. Premium has to be paid for 5 years.
- 151 per day or Rs. 500 per month.
- In the meantime, if the insured dies, the family will not have to pay any premium.
- If the insured dies, the daughter will get Rs 1 lakh every year during the year between the policies.
- Upon completion of the policy, the nominee will get Rs 5 lakh.
- This policy can be taken with more or less premium.
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Key Features of LIC Kanyadan Policy
- The plan comes out with great features. Some of them are mentioned below
- Offers to protect your daughter’s future financially independent.
- It offers cover for life risk over a certain period of time up to 3 years before the maturity date.
- The insured will get a lump sum amount at the time of maturity.
- In case the father expires, then the premium is waved off.
- Immediate payment of Rs. 10 lakhs in the case of an accidental demise.
- Immediate payment of Rs. 5 lakhs in the case of non-accidental/natural dmise.
- Rs. 50,000 will be paid every year until the maturity date.
- Full maturity amount will be availed at the time of maturity.
- Those who stay outside India can also go for this plan without visiting in the country.
- The policy also has some mix features of the LIC Jeevan Lakshya policy.
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 limit for buying the plan should be at least 18 years and not more than 50 years.
- Daughter’s age should be at least 1 year at the time of purchasing the policy.
- The minimum Sum Assured at the time of maturity is Rs. 1 lakh.
- The maximum Sum Assured at the time of maturity has ‘No Limit’ (depends on the cost of premiums paid by the policyholder).
- Policy tenure for 13 to 25 years is available for the applicant.
- Premium paying term is 3 years less than the policy term e.g. if the policy term is 15 years, then the policyholder has to pay the premiums for (15-3)=12 years.
Understanding LIC Kanyadan Policy
This simple example will let you know how LIC Kanyadan policy can be beneficial for you.Suppose Mr. Vivek Mittal has taken a Kanyadan Yojana when his age is 30 years and he decided to take the policy for a policy term of 15 years. The investment for maximum Sum Assured of the policy is Rs. 5 lakhs.
i) If the applicant survives the policy tenure
The policy will mature in the year 2033 when the father becomes 44 years of age. If Mr. Vivek Mittal survives the policy tenure until maturity, he will be liable to get Rs. 8, 17, 500 as the maturity amount.
ii) If the applicant dies after (commencement of the policy) 8th years during the policy tenure
The family of Mr. Mittal shall receive Rs. 50,000 every year which 10% of the Sum Assured. In 2033, his family shall receive Rs. 5 lakhs as the Sum Assured along with the additional bonuses. Hence, the total maturity amount shall be equal to Rs. 8,67,500.
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