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.
LIC Kanyadan Yojana the way to Apply ?
Learn a few special things about the policy
LIC Kanyadan Scheme : Click Here
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.
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.
- In this policy, the premium paying term is limited.
- This is a with-profits endowment insurance plan that comes with insurance and savings.
- The premium paying term is less by 3 years than the policy term.
- Various premium paying modes are available such as monthly, quarterly, half-yearly and annual.
- If the applicant dies within the policy tenure, 10% of the Sum Assured is payable every year till 1 year before the maturity date.
- The policy tenure for this plan is between 13 to 25 years.
- The policyholder has the option to pay for 6, 10, 15 or 20 years.
- Additional benefits will be provided to the family if the policyholder i.e. the father of the daughter dies within the policy tenure.
- Disability rider benefit is also applicable if the premium paying tenure is at least 5 years.
- If the policyholder commits suicide within 12 months from the initiation of the policy, 80% of the premium will be paid by the corporation except for the surrender value or taxes, the one which will be higher of the two.
- It is also available in Hindi language PDF to be understood by the people easily.
- LIC Kanyadan policy premium chart is self-explanatory.
- If the policy is active and the policyholder has paid the premiums for 3 consecutive years, a loan can be availed against the policy.
- It is a perfectly tax-free policy under the tax exemption laws of India, 1961.
- 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.
- Any benefit or additional coverage shall not be provided in the case If the policyholder commits suicide within 12 months from the initiation of the policy.
- A free look period of 15 days is provided to the policyholder from the date of commencement of the policy if he/she is not satisfied with the clauses of the policy or any related information.
- During the grace period the policyholder is not charged with any late fees or penalty if the due date for payment is over. The policy allows a grace period of 30 days for annual, biannual or quarterly premium payments and 15 days for monthly premium payments. Without asking further questions, the policy will be terminated if the policyholder is unable to pay the premium before the expiry date of the grace period.
- The policyholder is allowed to surrender the policy anytime after paying the premium for at least 3 consecutive years. The guaranteed surrender value will be the total of the percentage of total premiums excluding rider premiums that depends on the policy term and surrendered policy year.