LIC Kanyadaan plan – Child Education
Kanyadaan plan is nothing but a popular name given to LIC plan Jeevan Lakshya. This plan is designed in such a way that it helps to ensure proper education and returns until she gets married in case of any eventuality to the proposer. LIC Jeevan Lakshya Plan is having all the benefits, a parent needs for complete education and marriage. Child education and marriage planning are getting costlier year on year. Planning from the early date of the child. Would allow parents to accumulate a decent amount for their child’s education and other things.
Kanyadaan policy is the best gift a father can give to his daughter immediately after birth. This plan is not limited to girl children only. Irrespective of girls or boys, this plan can be purchased. Most of the Insurance Agents never sell this plan because they are not able to give a proper presentation. This plan is a unique plan in the industry. LIC Jeevan Lakshya plan which is also called as Kanyadaan policy is designed to cater for the needs of child education and marriage.
Parents want to give the best future for their children. Saving a single rupee for their child’s education and future, sometimes they fail to live. Plan the best for your child and live happily.
LIC Kanyadaan plan comparison with Sukanya Samruddhi
Kanyadaan Policy ensures education and marriage of policyholder’s child with guaranteed returns as per policy benefits from time to time even though any eventuality happens to the policyholder.
Features of LIC Kanyadaan plan for the girl child:
LIC Jeevan Lakshaya is well-designed for the child’s education and marriage, this policy has the following important features:
NRIs can also purchase this plan without coming to India by calling me or sending an e-mail for more info.
This plan gives better benefits than Sukanya Samruddhi because this plan is an Insurance and Investment plan with financial support for the spouse in case of any eventuality, to take care of child education. Kanyadaan planning would be suitable for both girl and boy children as this policy takes care of completed education and marriage planning.
An Example of LIC Kanyadaan plan for the girl child :
Mr Kumar at 31 years insures himself under this policy for Rs. 5 lakhs sum assured for 20 years premium paying term 17 years.
- He pays Rs. 28,988/-
On maturity :
- Returns at 20th year: Rs. 9,85,000/- approx.
This policy gives him a guaranteed return of Rs. 9,85,000/- approx. on maturity at 20th year.
In case of any eventuality under LIC Kanyadaan planning for the girl child:
- God forbid the policyholder expires, the premium is totally waived off for the remaining period.
- In case of Accidental death, immediate Rs.10 Lakhs would be paid to the guardian if the nominee is minor.
- Normal death one sum assured Rs.5,00,000/- would be paid
- Remaining years, 10% of Sum assured i.e Rs. 50,000 every year till maturity year.
- On maturity, once again, one Sum Assured with a bonus would be paid.
This plan gives Life Insurance cover to the policyholder from the first day to the day of maturity, making the safest and secure to invest in children’s education and marriage planning.
Benefits of LIC Kanyadaan policy for the girl child
- Kanyadaan plan is a perfect mix of life insurance + a money-back plan in case of any eventuality.
- Being a guaranteed returns plan, there is no risk from the fall of markets and interest rate fluctuation, this would be a perfect gift for your child and the best support for your spouse.
Income tax benefits under LIC Kanyadaan policy for the girl child :
- All premiums paid under this plan are exempted under section 80 C of the Income Tax Act.
- All returns, like Income benefit, death benefit, maturity are exempted from Tax under section 10 (10 D) of the Income Tax Act.