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LIC Kanyadan Policy: Invest ₹75 Daily and Get ₹14 Lakh in a Few Years

Every parent worries about their daughter’s future, especially regarding her education and marriage. To address this concern, the Life Insurance Corporation of India (LIC) has introduced the LIC Kanyadan Policy. This scheme is an excellent option for parents who wish to build a large fund with small savings.

By investing just ₹75 daily (₹2,250 monthly), you can accumulate ₹14 lakh in a few years. Additionally, this policy provides life insurance coverage, ensuring a secure future for your daughter. In this article, we will provide detailed information about this policy.

What is LIC Kanyadan Policy?

LIC Kanyadan Policy is a savings and insurance plan that not only offers good returns on investment but also provides financial security in case of the policyholder’s unfortunate demise. Under this policy, if the policyholder (father) passes away during the policy term, the family receives a lump sum amount, and the daughter gets financial assistance in the future.

Key Features

  • Financial security for a daughter’s education and marriage.
  • Low premium, high returns.
  • Immediate financial assistance in case of the policyholder’s death.
  • Tax benefits under Section 80C of the Income Tax Act.

Eligibility for LIC Kanyadan Policy

To apply for this policy, certain eligibility criteria must be met:

  1. Father’s age: Should be between 18 and 50 years.
  2. Daughter’s age: Should be at least 1 year old.
  3. Policy tenure: The policy can be taken for a period of 13 to 25 years.
  4. Required documents:
    • Aadhaar Card
    • Identity proof (PAN Card/Voter ID)
    • Income proof
    • Passport-sized photo

Investment and Benefits of LIC Kanyadan Policy

1. Investment Amount and Maturity Benefits

By investing ₹75 per day (₹2,250 per month), you can create a large fund over time. Here are some examples:

Daily Investment Monthly Investment Policy Term Maturity Amount
₹75 ₹2,250 25 years ₹14 lakh
₹100 ₹3,000 25 years ₹19 lakh
₹150 ₹4,500 25 years ₹28 lakh

2. Death Benefit

If the policyholder passes away during the policy term:

  • The family receives an immediate lump sum of ₹10 lakh.
  • Future premium payments are waived off.
  • The daughter receives the entire maturity amount (₹14 lakh) at the end of the policy term.

3. Tax Benefits

LIC Kanyadan Policy provides tax deductions under Section 80C of the Income Tax Act. You can save up to ₹1.5 lakh in taxes on your investment.

Advantages of LIC Kanyadan Policy

  1. Secure investment for your daughter’s future

    • This policy helps in financial planning for your daughter’s education and marriage.

  2. Small investment, high returns

    • By investing just ₹75 per day, you can accumulate ₹14 lakh over time.

  3. Full protection in case of the policyholder’s death

    • If the policyholder passes away, the family receives an immediate payout, and the daughter gets the full maturity amount later.

  4. Tax savings

    • The investment provides tax benefits, and the maturity amount is tax-free.

  5. Flexible payment options

    • You can choose to pay monthly, quarterly, or annually based on your financial convenience.

How to Invest in LIC Kanyadan Policy?

You can invest in LIC Kanyadan Policy through the following methods:

  1. Visit the nearest LIC branch – Contact an LIC representative at your nearest office.
  2. Contact an LIC agent – Get complete details from an authorized LIC agent and apply for the policy.
  3. Apply online – You can also apply through the official LIC website.

Required Documents for Application

✔ Aadhaar Card
✔ PAN Card/Driving License
✔ Income proof
✔ Passport-sized photo

LIC Kanyadan Policy vs. Other Investment Options

1. LIC Kanyadan Policy vs. Fixed Deposit (FD)

Feature Bank FD LIC Kanyadan Policy
Security Only principal amount is secured Insurance + savings
Returns 5-7% annually 7-8% + insurance coverage
Death Benefit No Yes, financial assistance for the family
Tax Benefits Limited Tax exemption under Section 80C

2. LIC Kanyadan Policy vs. Mutual Funds

Feature Mutual Funds LIC Kanyadan Policy
Risk High No risk
Returns Market-dependent Guaranteed returns
Death Benefit No Yes, financial security for the family

Conclusion

LIC Kanyadan Policy is an ideal financial plan for parents who want to secure their daughter’s education and marriage. By investing just ₹75 per day, you can accumulate ₹14 lakh in 25 years.

This policy is not only a great savings tool but also provides insurance coverage and tax benefits. If you are planning for your daughter’s secure and prosperous future, LIC Kanyadan Policy can be a smart choice.

Invest today and lay the foundation for your daughter’s bright future!

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