Business Desk – LIC or Life Insurance Corporation India has a new saving plan for girl child i.e. LIC Kanyadan Policy. Its aim is to offer expenses for education and marriage. To avail of this scheme, the girl child should be at least 1 year old, and the parent’s age must be between 18 and 50 years old. The minimum sum guaranteed limit is one lakh rupees for spans from 13 to 25 years.
LIC Kanyadan Policy 2023 Features and Benefits
- Indian citizens, including NRIs, can invest in this scheme as it accumulates funds for the future.
- The family will get relieved of paying the premium in case of the unfortunate death of the policyholder. Even the family will get Rs 1 lakh rupees each year.
- After 25 years, the nominee gets a payment of Rs. 27 lahks.
- In case the beneficiary dies in an accident, then LIC will pay a death benefit of Rs 10 lakh, or if the beneficiary dies naturally, then LIC will pay Rs 5 lakh.
- This scheme offers life risk coverage until three years before the maturity date. In addition, the scheme is tax-free.
- If you deposit Rs. 75 daily you can manage to accumulate funds of Rs. 14 lakhs after 25 years.
- This scheme also offers the benefit of a yearly bonus.
- This policy provides flexibility to make premium payments – Annual, Half-Yearly, Quarterly, or Monthly basis.
- If your policy is active and you pay premiums for 3 consecutive years then you can get a loan against the policy.
Please Note, if you have any queries or want to get more details visit LIC’s official website or contact the LIC agent.