New Delhi: Life Insurance Corporation (LIC) is offering an exceptional plan for guardian or guardians of a daugher/s in which the state-possessed firm is giving a choice to deposit and develop cash for her marriage.
The biggest insurer in India has named the plan – LIC Kanyadaan Policy. As per the organization, the plan is uncommonly arranged to address the issues of things to come of the little girl, particularly her marriage.
Invest only for 3 years
In the LIC Kanyadaan Policy, you can select to pay a premium only for three years to get returns at the time of maturity. An investor has to deposit around Rs 50,000 a year for three years to benefit from the scheme.
One of the main conditions for Kanyadaan policy is that the base age of the investor ought to be somewhere around 30 years or more. Additionally, the age of the investor’s little girl ought to be no less than 1 year.
Maturity of LIC Kanyadaan Policy
The minimum maturity time of the LIC Kanyadaan Policy is 13 years while the exceptional fluctuates for various aggregate guaranteed.
Documents required for LIC Kanyadaan Policy
You’ll need to present a couple of reports like Aadhar Card, Income Certificate, Identity Card, and Birth Certificate, among others, to put resources into the LIC Kanyadaan Policy.
Returns on investment in LIC Kanyadaan Policy
Assuming that you’re intending to contribute an absolute amount of Rs 10 lakhs, then, at that point, you’ll need to pay a regularly scheduled payment of Rs 3,901 for a considerable length of time. Following three years, i.e., following 25 years of the approach starting, you’ll get Rs 26.75 lakh at the hour of development.
Tax benefits of LIC Kanyadaan Policy
Under the LIC Kanyadaan Policy, financial backers get charge exception on the superior paid under segment 80C of the Income Tax Act 1961. Charge exception is covered at up to Rs 1.50 lakh.
