Take the worry out of life with LIC kanyadan Plan
Perfect gift for your girl child
LIC Kanyadan Plan is a scheme to secure the future expenses of young girls. It covers educational and marriage expenses. For every family blessed with daughters, their educational and marriage expenses are the most critical financial needs. With lower premiums, this scheme takes care of such financial needs and lets the parents take a sigh of relief.
LIC kanyadan plan Faqs
The LIC Kanyadan scheme is the best way to secure the future of your daughter, that too, at a low premium rate. It relieves you out of the future financial expenses related to your daughter. Subscribing to this policy will make every parent's dream of having a stable future for their daughter come true.
LIC is a known insurance company with a large number of policies. We are here to help the customers reduce their financial burdens. LIC Kanyadan policy is also an aid to all the expenses related to your daughter. The unique factor that makes the plan desirable is that the plan has a very low premium, and it covers both future educational and marriage expenses.
- The plan tenure is 13-25 years, and the premium paying duration is three years less than the chosen policy term.
- The father's age should be between 18-50 years, and the minimum daughter's age is one year, to buy the plan.
- The premium amount will depend on your suitability.
The premium payment attached to the LIC Kanyadan plan ultimately depends on you and your income. You can decrease or increase the premium amount. The paying schedule can be semi-annually, in 4 months, one month, or daily. It is entirely up to your comfort and benefit.
- The main feature is that the policy protects the future of your daughter financially.
- On maturity, the insured will receive the entire lump sum amount.
- On the demise of the subscriber, the premium is waived off
- In case of the natural death of the insured, the family will receive five lakhs immediately
- In case of accidental death of the insured, the family will receive ten lakhs immediately.
- Even after your daughter is married, you can keep paying the premium.
- This policy is also eligible for people living outside of the country.
There is no limit for maximum sum assured, and the minimum sum assured is 1 lakh at the time of maturity. The sum assured completely depends on the premium payments made during the policy period.
If the father dies, the policy waives off the premium. That is, the family will not have to pay premiums. The policy will also pay the family 1 lakh annually, and once the plan finishes 25 years, the nominee will be paid 27 lakhs by LIC. This policy is an ideal plan for families with daughters.
There is one exemption, and that is if the subscriber commits suicide less than 12 months from the time of policy initiation, then there is no coverage or claim under the LIC Kanyadan scheme.
- Freelook period- you get a 15 day free look period starting from the date you get the policy. This free look period allows you to return the policy if not satisfied with the terms and conditions under the LIC Kanyadan policy.
- Grace period- grace period is the time duration given to you after the due date of premium payment expires. 30 day grace period for quarterly, semi-annually, and annual payments and 15 days for monthly payments. Once the grace period is over, the policy gets terminated.
You can decide to surrender the policy after three years of premium payments. The guaranteed surrender value is the total percent of the premiums paid, and the rider premiums are exempted.
Yes, you can take a loan by keeping the policy as collateral. For this to happen, the policy needs to be active, and you have also paid at least three years of premium payments.
The following documents are required:
- Identity card
- Aadhar card
- Passport size photo
- Income certificate
- Address proof
- Birth certificate of the daughter
- Demand draft or cheque for the first premium
- Filled and signed LIC Kanyadan policy form