In India, the birth of a daughter is like a celebration for every family. But along with this, many questions and concerns are also associated with the mind of the parents regarding her education, career and marriage. To overcome these concerns, LIC Kanyadan Policy comes out as an excellent option.
At such a time, LIC Kanyadan Policy comes out as an excellent option for parents. This scheme turns small savings into a big fund in the long run. With this fund, both the education and marriage of the daughter can be easily completed.
Save ₹121/Daily, Build ₹27 Lakh for Your Daughter
The specialty of this policy is that you do not need to invest a large amount at once. By just saving Rs 121 daily or Rs 3,600 per month, you can create a large fund of about ₹ 27 lakh for your daughter. This amount will prove to be helpful in easily meeting major expenses like daughter's higher education and marriage.
Flexible Policy Tenure: Choose Between 13 to 25 Years
The period of LIC Kanyadan policy can be chosen from 13 years to 25 years. The longer the period you choose, the bigger the fund will be created. For example, if your daughter is currently 2 years old and you choose a period of 25 years, then when the daughter will be 27 years old, she can get a fund of about Rs 27 lakh. If you want, you can also increase or decrease the investment amount according to your income and need.
Eligibility & Required Documents
To avail the benefits of this scheme, some important conditions have to be fulfilled. The minimum age of the policyholder should be 30 years and the daughter should be at least 1 year old. While taking the policy, it is necessary to submit Aadhar card, PAN card, income certificate, residence certificate, daughter's birth certificate and passport size photo.
Tax Exemption And Other Benefits
LIC Kanyadan Policy not only secures the future of the daughter, but investing in it also provides tax exemption. This scheme comes under section 80C of the Income Tax Act 1961. This means that you can get a tax exemption of up to Rs 1.5 lakh on the premium deposited every year. In this way, you are not only creating a future fund but also saving tax.
Life Insurance Protection in Case of Untimely Death
This policy is not only a means of saving, but also works like life insurance. If the policyholder i.e. the father dies untimely, the family immediately gets financial support of up to Rs 10 lakh. Not only this, the family does not even need to pay the premium after this. On completion of the policy period, the daughter (nominee) gets the maturity amount.
Why Is This Policy Special?
LIC's Kanyadan policy is one of those plans which are specially designed keeping in mind the future of daughters. It not only provides financial security and mental peace but also provides the benefits of tax saving and insurance. A large fund created from small daily savings can improve your daughter's life and can remove the biggest worry of the parents.
Conclusion
With a small saving of Rs 121 per day, you can create a large fund of about Rs 27 lakh to fulfill your daughter's dreams. If you also want that there is no worry about money regarding your daughter's education or marriage in the future, then this policy can be the best option for you. If you have any question regarding this post, then you can tell us by commenting in the comment box given below. Your feedback and suggestions are welcome as always. Thank you.
