The life insurance company of India has launched the LIC Kanyadan Policy Scheme to invest in the wedding and education of daughters. To apply for a policy under the LIC Kanyadan Policy Scheme, the father’s age must be between 18 to 50 years old, and the daughter’s age must be at least one year old. This plan is for 25 years. Read below to check the detailed information related to the LIC Kanyadan Policy 2022 like Highlights, Objectives, Features, Benefits, Documents Required, Eligibility Criteria, Application Procedures, and much more.
LIC Kanyadan Policy 2022
When a girl child is born into a family in India, the first thing that concerns the family is the cost of her education and marriage. However, LIC has now initiated a plan that provides monetary support to families in raising their daughters. The LIC Kanyadan policy provides excellent economic security for your daughter at a low cost. This is a one-of-a-kind plan that organizes a backup fund for your daughter’s future expenses in support of her marriage and education. This insurance plan is available for 13 to 25 years. The LIC Kanyadan policy plan may also be available based on you and your child’s age. The policy’s time frame will be reduced as per the daughter’s age. If a person wants to pay a higher or lower premium, he can enlist in this policy plan and benefit from it.
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Highlights of LIC Kanyadan Policy
|Policy Name||LIC Kanyadan Policy 2022|
|Initiated by||Life Insurance Corporation of India|
|Beneficiaries||Only Girls Child|
|Policy Availability||Available Now|
|How to Apply||Apply Online|
Objectives of LIC Kanyadan Policy
The main purpose of this scheme is that, as it’s challenging to save for a daughter’s wedding, the Life Insurance Corporation of India has launched a strategy of investing in a daughter’s wedding so that people can invest in this scheme and earn money. An individual can keep money aside for the daughter’s promising future. The father will be able to meet all of his daughter’s future needs thanks to this LIC Kanyadan Policy, and you will be able to meet all of your daughter’s dreams and be free of financial worries during her marriage.
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Benefits of LIC Kanyadan Policy
Some of the key benefits of the scheme 2022 are as follows:
- The premium-paying period is limited in this policy.
- The payment term is three years shorter than the policy term.
- This is a for-profit endowment insurance plan that includes insurance as well as savings.
- If the applicant dies during the policy’s term, 10% of the Sum Assured is paid out each year until one year before the policy’s maturity date.
- Monthly, quarterly, half-yearly, and annual premium payment options are available.
- This plan’s policy tenure ranges from 13 to 25 years.
- If the policyholder, i.e. the father of the daughter, dies during the policy term, the family will receive extra advantages.
- The policyholder can choose between six, ten, fifteen, or twenty years of coverage.
Features of LIC Kanyadan Policy
Some of the key features of the scheme 2022 are as follows:
- It offers to protect your daughter’s financial independence in the future
- It provides protection against life risk for a set period, up to three years before the maturity date
- If the father passes away, the premium is not paid
- In the event of unintentional death, instant payment of Rs. 10 lakhs will be made
- When the policy matures, the insured will receive a lump sum payment
- In the event of a non-accidental/natural death, instant payment of Rs. 5 lakhs will be made
- At the time of maturity, the full maturity amount will be available
- Every year until the maturity date, Rs. 50,000 will be paid
- Those who do not live in India can participate in this scheme without coming to the country.
- The policy also has some characteristics in common with the LIC Jeevan Lakshya policy.
Applicants who want to apply for the LIC Kanyadan Policy 2022 must fulfill the eligibility criteria put forward by the Government of India. The eligibility criteria for scheme 2022 are as follows:
- The age range for this program is 18 to 50 years old
- Only the father of the daughter can purchase this policy
- At the time of maturity, the maximum Sum Assured is unrestricted
- To purchase the LIC Kanyadan policy, the daughter must be at least one year old
- At the time of maturity, the minimum Sum Assured should be 100,000 rupees
- The scheme has a term that is three years longer than the premium-paying term
- This plan has a policy term ranging from 13 to 25 years
- The policyholder will only have to pay the premium for 12 years if the policy term is 15 years
While filling up the application form for the scheme 2022, some important documents will be needed by the applicants, make sure to keep them handy. The documents required for the scheme 2022 are as follows:
- Passport Size Photograph
- Identity Card
- Aadhar Card
- Income Certificate
- Address Proof
- Duly Filled and Signed Form of Proposal Of The Scheme
- Check or Cash to Pay the First Premium
- Birth Certificate
Steps to Apply for LIC Kanyadan Policy 2022
Applicants need to follow the below-given steps to apply for the scheme 2022
- First of all, visit your nearest LIC office
- Now, ask concerned officials about LIC Kanyadan policy details
- Once the official authority will provide all the information, select the policy as per your income and requirement
- Now, get the application form of the selected policy
- Fill in the form with all the required details
- After that attach all the required documents with the application form
- Submit the application form to the concerned officer
For further details or in case of any query or complaint related to the LIC Kanyadan Policy 2022, feel free to contact on the below-given details:
- Address of LIC Central Office:
- Life Insurance Corporation Of India
- Central Office
- Jeevan Bima Marg
- Nariman Point
- Mumbai 400021
- Phone Number: +91-022 6827 6827