Life Insurance Corporation (LIC) gives parents an opportunity to make a big fund for the preparation of their daughter’s marriage. India’s largest insurance company LIC is offering LIC Kanyadan policy to parents for daughters.
LIC claims that this scheme is designed according to the needs of the girl child. It is made according to the need of daughters’ marriage. By investing Rs 3,600 a month in this scheme, you can get Rs 27 lakh on maturity.
LIC’s Kanyadan Policy
You can choose the option of investing only three years’ premium in LIC’s Kanyadan policy and then you will get the return on maturity. To avail the benefits of the scheme, you will have to invest around Rs 50,000 for three years. The age of the person investing in Kanyadan Bima Yojana should be at least 30 years. This is the most important rule of this scheme. Also, the age of the investor’s daughter should be at least 1 year.
These documents will be required
There are several ways to pay premium for LIC Kanyadan policy. In this, the maturity period is minimum 13 years and maximum 30 years. Documents like Aadhaar card, proof of income, identity card and birth certificate will be required to get LIC Kanyadan policy.
this is the complete calculation
If you invest a total of Rs 10 lakh, then you will have to pay Rs 3,901 every month for 22 years. Three years from now or 25 years after the first policy is issued, you will earn Rs 26.75 lakh at maturity. LIC Kanyadan Policy is exempted under Section 80C of the Income Tax Act 1961 on the payment made by the investors. There is a tax exemption limit of Rs 1.50 lakh under 80C.
