New Delhi: Life Insurance Corporation (LIC) is providing a singular scheme for guardians or dad and mom of a daugher/s in which the state-owned agency is offering an choice to deposit and develop cash for her marriage.
The largest insurer in India has named the scheme – LIC Kanyadaan Policy. According to the corporate, the scheme is specifically curated to meet the wants of the way forward for the daughter, particularly her marriage.
Invest solely for 3 years
In the LIC Kanyadaan Policy, you’ll be able to choose to pay a premium solely for three years to get returns on the time of maturity. An investor has to deposit round Rs 50,000 a yr for three years to profit from the scheme.
One of the extraordinarily necessary situations for Kanyadaan policy is that the minimal age of the investor must be at the very least 30 years or extra. Also, the age of the investor’s daughter must be at the very least 1 yr.
Maturity of LIC Kanyadaan Policy
The minimal maturity interval of the LIC Kanyadaan Policy is 13 years whereas the premium varies for completely different sum assured.
Documents required for LIC Kanyadaan Policy
You’ll have to submit a number of paperwork corresponding to Aadhar Card, Income Certificate, Identity Card, and Birth Certificate, amongst others, to make investments in the LIC Kanyadaan Policy.
Returns on funding in LIC Kanyadaan Policy
If you’re planning to make investments a complete sum of Rs 10 lakhs, you then’ll have to pay a month-to-month instalment of Rs 3,901 for 22 years. After three years, i.e., after 25 years of the policy starting, you’ll obtain Rs 26.75 lakh on the time of maturity.
Tax advantages of LIC Kanyadaan Policy
Under the LIC Kanyadaan Policy, traders get tax exemption on the premium paid underneath part 80C of the Income Tax Act 1961. Tax exemption is capped at up to Rs 1.50 lakh.
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