LIC Kanyadan Policy Online Apply | LIC Kanyadan Policy Interest Rate | LIC Kanyadan Policy Calculator | LIC Kanyadan Policy Premium Chart
LIC kanyadan Policy was released by the Life Insurance Corporation recently and it has proven to be the most successful life insurance policy for the residents of India. You can check out the details related to the LIC kanyadan Policy 2022 given below and we will share with all of you the details related to the Calculator, Benefits, Features & Interest Rate also. Make sure to check out the eligibility criteria presented by the organisation for all of the customers who want to apply for this policy before filling out the application form.
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About LIC Kanyadan Policy 2022
The Life Insurance Corporation provides LIC Kanyadan Policy in order to help all of the people who have daughters and they are not able to take into consideration any investment plans in order to help their daughter gain a lot of benefits and help their daughter to become financially independent. You can take into consideration the Kanyadan Policy and you will be provided with a maximum sum assured at the time of maturity in order to help your daughter get a good education and make her financially independent. You can apply for the scheme online or visit the LIC branch. There are a lot of features included in the LIC kanyadan policy to help the customers.
Features Of LIC Kanyadan Policy
The following features are included in the LIC Kanyadan Policy:-
- This provides protection for your future and your daughter will become financially independent through this policy.
- The policy also covered life risk for a certain period of time up to 3 years before the maturity date.
- The customer will get a lump sum amount at the time of maturity.
- If the father of the child expires then the premium is waived off.
- Immediate payment of Rupees 10 lakh will be provided in case of an accidental dismissal and immediate payment of Rupees 500000 is provided in case of natural dismissal.
- Rupees 50000 will be paid every year until the maturity date and the full amount will be paid at the time of maturity.
- Non-residents of India can also apply for this prestigious scheme.
Benefits Of The Scheme
The following benefits will be provided to all of the people who have applied for the Kanyadan Policy:-
- Limited premium paying term
- Premium payment term is less by 3 years from policy payment term
- Payments can be made Annually, Half-Yearly, Quarterly or Monthly
- In case of demise of the policyholder during the policy term, 10% of Sum Assured is to be paid every year till 1 year before the Maturity Date
- Account Maturity tenure is from 13 years to 25 years
- The policyholder can opt for a 6, 10, 15 or 20, year plan
- Additional benefits in case of demise of the policyholder during the policy tenure
- Disability Rider benefit applicable in case the premium tenure is at least 5 years
- If the policyholder commits suicide within 12 months from policy initiation, 80% of the premiums are paid by the corporation apart from the surrender value or the tax amount, whichever higher
- The loan can be availed in case the policyholder pays the premium for 3 consecutive years considering the policy is still active
Eligibility Restrictions
The applicant must follow the following restrictions before successfully applying for the LIC kanyadan policy 2022:-
| Minimum Basic Sum Assured | 100,000 |
| Maximum Basic Sum Assured | No Limit |
| (The Basic Sum Assured shall be in multiples of 10,000/-) | |
| Policy Term | 13 to 25 years |
| Premium Paying Term | (Policy Term – 3) years |
| Minimum Age at entry | 18 years (last birthday) |
| Maximum Age at entry | 50 years (nearer birthday) |
| Maximum Maturity Age | 65 years (nearer birthday) |
| Daughter’s Minimum Age | 1-year |
Eligibility Criteria
The applicant must follow the following eligibility criteria to apply for this scheme:-
- The policy can only be purchased by the father of the daughter and not by the daughter
- The applicant must be above the age of 18 years and below the age of 50 years
- The daughter should be at least 1 year old at the time of purchasing the policy.
- The minimum sum assured at the time of maturity is Rupees 1 lakh and the maximum sum assured has no limit.
- The policy tenure is from 13 years to 25 years.
How to Apply Online for LIC Kanyadan Policy
- In order to apply for the policy, you have to visit your nearest LIC Office.
- After that, you will tell the LIC agent that you want to apply for the policy.
- Then he or she will tell you all the terms and conditions related to the policy.
- After that if you are willing to apply for the policy you will provide your consent and move forward.
- An application form will appear before you.
- Enter all the details to be filled in in the application form carefully.
- Select your policy plan accordingly.
- Provide all the related documents.
- Check the details carefully before final submission.
- Now submit all the related documents along with the application form in the same LIC office.
- In this way, you can easily apply for the policy.
- For more details, you can check the official website of Life Insurance Corporation.
FAQs For LIC Kanyadan Policy 2022
If the policyholder commits suicide within 12 months of the initiation of the policy, no benefits or additional coverages shall be paid.
There is a free look period of 15 days under the LIC kanyadan policy from the date of the commitment of the policy.
The policyholder is allowed a grace period of 30 days for annual, half-yearly, or quarterly payments and 15 days for monthly premium payments.
If the premium is unpaid even after the grace period, the policy will be terminated without any further intimations.