LIC Kanyadan Plan is an perfect thoughtful plan to secure the life span of our daughters.
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It’s limited to restricted premium and gives security and support to girls to sustain their future schooling and marriage plans. Our objective is to assist and financially encourage families to control the expenses of our daughters in fulfilling their dreams. It is an ideal gift to our valued daughters and a big continually relief to families by insurance offering major financial aid to our brothers’ better future and welfare.What’s the LIC Kanyadan plan? This plan is your all-in-one financial plan for your daughters’ future wellbeing. Which are the Advantages of this LIC Kanyadan plan? Here LIC brings Kanyadan Policy to help our daughter and ourselves to provide financial freedom by supporting her education, marriage, and other milestones. It is a profit endowment assurance strategy using a limited premium paying period Premium paying term is three years less than the policy duration Flexible ways of paying the premiumin accordingly the event of death of a policyholder prior to the maturity, 10 percent of the basic sum assured will be awarded on each policy anniversary prior to the maturity dateProvides Rs. 10 lakhs in the event of death of the policyholderProvide premium waiver in case of death of policyholder prior to the maturity of the policyAre there any tax determined advantages from LIC Kanyadan? Under the tax liability law of India, it’s a tax exempt policy. There are two tax benefits to offer: Primarily, The tax advantage of Rs. 1,50,000 beneath 80 C can be availed by paying premium, and Secondly, Under Section 10 (10D), Maturity sum is also tax-free.Who will purchase this plan? The policy can be bought by the father of their daughter only and not the girl herself. The kid’s age must be at least annually in the time of buying the dad’s policy.What’s the age limit for purchasing the LIC Kanyadan strategy? beforehand The minimum amount to buy the policy is 18 decades, and the highest age significantly up to which the coverage can be availed is 50 years.What is the locking period of LIC Kanyadan? The locking interval of this coverage is available from 13 to 25 decades.Which files are required to buy LIC Kanyadan Plan? These documents are required Yes, you can borrow a loan if your coverage is active and also have paid a premium for three consecutive years.Can there be any exception in the Plan? Any extra benefits or claims can’t be taken in the event the policyholder commits suicide within 12 months of purchasing the policy.What is the frequency of the premium payment? The premium may be paid quarterly, monthly, semi-annually, or yearly depending upon your preference. Yes, the strategy can be obtained for Indian nationals in addition to NRI citizens.Are there any surrender benefits against the LIC Kanyadan strategy? Yes, there’s an option to surrender the policy after paying a premium for at least three decades. The surrender value is the total paid premium value except for any rider benefits.