LIC Kanyadan Policy: A smart investment for your daughter’s future

With rising inflation, parents often worry about their children’s education and marriage expenses. To ease these concerns, Life Insurance Corporation (LIC) has introduced a special policy—LIC Kanyadan Policy—designed exclusively for daughters. This plan helps you build a financial safety net, offering benefits such as tax exemptions and loan facilities.

What is LIC Kanyadan Policy?

LIC Kanyadan Policy is a long-term investment plan that helps secure your daughter’s future. If she is between 1 and 10 years old, you can enroll in this scheme and accumulate a fund of up to ₹22.5 lakh. The policy tenure ranges from 13 to 25 years, providing flexibility in premium payments.

Key Features of the Policy

Flexible Premium Payments: Pay monthly, quarterly, half-yearly, or annually.

Maturity Benefits: Receive the total assured amount along with bonuses at the end of the policy term.

Eligibility: The father must be below 50 years to invest in this policy.

Benefits of LIC Kanyadan Policy

Loan Facility: After three years of policy activation, you can apply for a loan.

Surrender Option: The policy can be surrendered after two years if needed.

Grace Period: If a premium payment is missed, you get 30 days to pay without any penalty.

Tax Benefits: Premium payments qualify for deductions under Section 80C, and the maturity amount is tax-free under Section 10D.

How Much Can You Get?

If you invest for 25 years, you’ll need to pay an annual premium of ₹41,367 (approximately ₹3,447 per month). However, premiums are only paid for 22 years. Upon maturity, you’ll receive around ₹22.5 lakh.

Protection in Case of Unfortunate Events

If the father passes away during the policy term, the premium payments are waived.

The daughter will receive ₹1 lakh annually for 25 years, along with a lump sum at maturity.

In case of accidental death, an additional benefit of ₹10 lakh is provided to the nominee.

Why Choose LIC Kanyadan Policy?

This policy ensures your daughter’s financial security, whether for higher education, marriage, or other important milestones. With a small monthly investment, you can build a substantial corpus and enjoy peace of mind.