All You Need to Know About LIC Kanyadan Policy Details: Features, Benefits, and More

Are you looking for a way to secure your daughter’s future and give her the best gift possible? Look no further than the LIC Kanyadan Policy! This policy is designed to provide financial security and stability for your daughter, even after you’re gone. In this blog post, we’ll dive into all the details of this unique policy – from its features to its benefits and everything in between. So sit back, relax, and let’s explore everything you need to know about LIC Kanyadan Policy!

Introduction to LIC Kanyadan Policy 2023

LIC’s Kanyadan Policy is a life insurance policy designed to financially protect the bride in the event of her husband’s death. The policy provides a lump sum benefit to the beneficiaries in the event of the policyholder’s death. The policy can be purchased by the parents or guardians of the bride, and it is valid for a period of 10 years from the date of purchase.

The policy provides financial protection to the beneficiary in the event of the policyholder’s death. The beneficiary can use the lump sum benefit to cover expenses related to their education, marriage, or other needs. The policy also offers flexibility in terms of premium payments, and it provides for a grace period in case of missed premiums.

Eligibility Criteria for LIC Kanyadan Policy 2023

To be eligible for the LIC Kanyadan Policy 2023, the following criteria must be met:

-The policyholder must be between the ages of 18 and 50.

-The policy must be in force for at least two years.

-The policyholder must have paid all premiums due.

-The death of the insured must occur within the policy term.

If these criteria are met, the beneficiary of the policy will receive the death benefit payout.

Core Benefits of the LIC Kanyadan Policy 2023

LIC Kanyadan Policy is a traditional endowment life insurance policy that offers financial protection to the nominees of the policyholder in case of his/her untimely death. The policy also takes care of the education and marriage expenses of the policyholder’s children. Some of the core benefits of LIC Kanyadan Policy are as follows:

– Death Benefit: In case of the policyholder’s death during the tenure of the policy, his/her nominees will receive the sum assured as the death benefit. This will help them financially in coping with the sudden loss.

– Maturity Benefit: On surviving till the end of the policy term, the policyholder will get back the sum assured along with the bonus. This can be used to meet any future financial requirements like a child’s higher education, etc.

– Tax Benefits: The premiums paid towards LIC Kanyadan Policy are eligible for tax deduction under Section 80C of the Income Tax Act, 1961.

Premium Chart and Calculator for LIC Kanyadan Policy 2023

LIC Kanyadan Policy is a life insurance policy for the benefit of parents or guardians of unmarried daughters. The main features of this policy are as follows:

1. Death Benefit: In the event of the death of the policyholder during the policy term, the sum assured will be payable to the nominee.

2. Maturity Benefit: On the survival of the policyholder till the end of the policy term, nothing will be payable.

3. Policy Term: The policy term is 10 years.

4. Premium Payment Term: The premium payment term is 5 years.

5. Premium Chart and Calculator:

Assuming an annual premium of Rs. 12,000/- per annum for a basic sum assured of Rs. 1,00,000/-

Additional Benefits of the LIC Kanyadan Policy 2023

One of the most important aspects of the LIC Kanyadan Policy 2023 is that it offers a death benefit. If the policyholder dies during the policy term, their nominees will receive the sum assured as well as any additional benefits that have accrued under the policy. This can provide much-needed financial security for the policyholder’s loved ones in the event of their death.

Another benefit of this policy is that it offers a maturity benefit. If the policyholder survives to the end of the policy term, they will receive the sum assured as well as any additional benefits that have accrued. This can provide a valuable lump sum of money at a time when they may need it most.

This policy also offers an optional rider known as the Accidental Death Benefit Rider. This rider provides additional financial protection in the event of thepolicyholder’s death due to an accident. This can give peace of mind to both the policyholder and their loved ones in knowing that they are financially protected in case of an unforeseen accident.

Endowment Plan Options Under the Lic Kanyadan Policy 2023

When it comes to choosing an endowment plan for your child’s future, the LIC Kanyadan Policy 2023 offers a few options that you can consider. Here is a look at the different endowment plan options under this policy:

1. Endowment Assurance Plan: Under this plan, you will have to pay premiums for a fixed period of time, after which the policy will mature and you will receive the sum assured plus bonus. This is a traditional endowment policy that provides financial security for your child’s future.

2. Unit Linked Endowment Plan: This is a more modern version of an endowment policy, where your premiums are invested in market-linked instruments like stocks and mutual funds. This provides the potential for higher returns, but also comes with higher risk.

3. Child Plans: These are specialised policies that offer financial protection for your child in case of unfortunate events like death or disability. Some child plans also offer educational benefits that can help with your child’s schooling or college expenses.

Choosing the right endowment plan for your child’s future depends on your individual needs and circumstances. Talk to a licensed insurance agent to learn more about the different options available under the LIC Kanyadan Policy 2023 and find out which one would be best suited for you and your family.

How to Make Claims Under the Lic Kanyadan Policy 2023?

If you’re the parent or guardian of a girl child, you can make claims under the LIC Kanyadan Policy 2023. To do so, you’ll need to have the following documents:

1. The original policy document

2. A valid ID proof ( PAN card, Aadhar card, etc.)

3. Proof of date of birth of the girl child (birth certificate, mark sheet, etc.)

4. The claim form duly filled and signed by the policyholder

5. A copy of the death certificate, in case of death claims

6. Any other relevant documents as required by LIC

Once you have all the required documents, you can submit them to your nearest LIC office or agent. The claims process will be initiated and settled as per the terms and conditions of the policy.