LIC Kanyadan Policy Details , Review , Eligibility (10 Amazing Benefits)

LIC Kanyadan Policy Details 2024 :- Life Insurance Corporation of India (LIC) is an Indian statutory insurance and investment corporation headquartered in the city of Mumbai, India. It is owned by the Indian Government. Life Insurance Corporation of India was founded on 1 September 1956, when the Parliament of India passed the Life Insurance of India Act which nationalized the insurance industry in India.

More than 245 insurance companies and provident societies were merged to create the state-owned Life Insurance Corporation of India. LIC reported 290 Million policy holders as of 2019, total life corpus of ₹28.3 Trillion and total value of policies sold in the year 2018-19 was ₹21.4 Million. The company also reported settling Rs 26 million claims in 2018-19.

Life Insurance Corporation of India (LIC) is offering Bima Jyoti Scheme which is an individual, non-participating, non-linked, life insurance savings insurance plan. By availing this insurance policy, you will be able to save a certain amount that can help you take care of your future financial needs as well as insurance coverage if something happens to you. You can buy this insurance policy through both online and offline mediums.

What is LIC Kanyadaan Policy

LIC Kanyadan Policy Details:- Just like the Sukanya Samriddhi Scheme is run in the Post Office, in the same way, Kanyadan Scheme has been run by LIC. Jeevan Lakshya Policy is known as LIC Kanyadan Scheme. This is a special offer from LIC which has been made for girls. It covers the future expenses of girls’ education and marriage.

The premium is very low compared to most of the policies. In India, the most important thing for the families after the birth of the girl child is the expense of her education and most importantly her marriage. LIC Kanyadan Yojana brings a sigh of relief to those families who have daughters. This scheme provides great assistance to the future expenses of the girls.

Main features of LIC Kanyadaan Policy

Under LIC Kanyadaan Policy, parents of girl children get excellent facilities so that they do not have to face any burden in raising them. It is the right of every child to get a good education and fulfill his future dreams.

• LIC Kanyadan Policy provides financial security to its daughter.
• After maturity, lump sum payment is provided to the policy holder.
• In case of death of the policyholder’s parent, the premium is waived.
• In case of accidental death, an immediate compensation of Rs 10 lakh is given.
• In case of Non-Accidental and Natural Death, Rs 5 lakh is paid immediately.
• Rs 50,000 is paid every year until the date of maturity.
• The features of LIC Kanyadaan policy are somewhat similar to LIC Lakshya policy.

Benefits of LIC Kanydan Policy

• This is a with-profit endowment insurance policy that includes both insurance and savings.
• Premium payment period is 3 years less than the policy period.
• Various Premium Payment Modes are available, such as Monthly, Quarterly, Half Yearly and Yearly
• If the applicant dies within the policy term, 10% of the Sum Assured is payable every year till 1 year before the maturity date.
• If the applicant dies within the policy term, 10% of the Sum Assured is payable every year till 1 year before the maturity date.
• The policy tenure of this plan ranges from 13 to 25 years.
• If the policyholder, that is, the girl’s father, dies during the insurance period, the family will receive an additional payment.
• If you have been paying premiums for at least 5 years, you can avail Disability Rider. Would be eligible for.
• If the policyholder commits suicide within 12 months of the inception of the policy, the Corporation will pay 80% of the premium, net of surrender value or taxes, whichever is higher.
• It is also available in Hindi language in PDF format, so that people can understand it easily.
• The premium chart for LIC Kanyadaan Bima is self-explanatory.
• The loan can be sanctioned if the insurance is in force and the policyholder has paid the premium for three consecutive years.
• This is a completely tax free scheme under the Income Tax Act of India 1961.

LIC Kanyadan Policy Premium Amount

Under LIC Kanyadan Policy, applicants can increase or decrease the premium amount as per their income. It is not necessary that the applicant should deposit only ₹ 121 per day. If he can deposit more then he should deposit more. If he cannot deposit ₹ 121 then he can take a plan with a lower premium.

Eligibility of LIC Kanyadaan Policy

• This policy can be taken only by the daughter’s father.
• Under this policy the age limit is 18 to 50 years.
• To buy LIC Kanyadaan Policy, the daughter’s age should be at least 1 year.
• At the time of maturity, the minimum sum assured should be ₹100000.
• There is no limit on maximum sum assured at the time of maturity.
• The policy term under this scheme is 13 to 25 years.
• Under LIC Kanyadaan Policy, the policy term is 3 years more than the premium payment period. If the policy term is 15 years, then the policy holder will have to pay the premium for only 12 years.
• LIC kanyadan policy premium amount.

How to apply for LIC Kanyadaan Policy 2024?

If you want to take LIC Kanyadan Policy then you can contact LIC office/LIC agent, then you have to get complete details about LIC Kanyadan Policy, then you will have to give all your information and your documents to the LIC agent, after that he will give your form.

Will fill In this way you can connect with LIC Kanyadaan Policy. , To get more information related to the scheme, you can visit LIC’s official website.

LIC Kanyadan Policy General FAQS