LIC Update: In this scheme of LIC, you will get Rs 27 lakh on investment of Rs 121, know how much time will it take..

Life Insurance Corporation of India (LIC) offers policy plans for every category. Many policies have also been launched for daughters. Many policy plans have been introduced especially keeping in mind the expenses of education and marriage, so that parents do not have to face financial problems. One such scheme is the Kanyadaan Policy of LIC. Investing in this every day can earn you big money.

LIC's Kanyadaan policy is a secure scheme, which was started for daughters. You can start this policy to meet your daughter's education or marriage expenses. In this policy you will have to deposit Rs 121 every day i.e. you will have to invest Rs 3,600 every month. You will have to deposit this amount for 25 years and on maturity you will get Rs 27 lakh.

You can invest even Rs 75 daily-
In this policy of LIC, the option of different maturity periods is given. If you do not want to invest in it for 25 years, then you can choose the option of maturity of at least 13 years. Whereas if you do not want to deposit Rs 121 daily, then you can invest Rs 75 daily or Rs 2,250 per month for 25 years, after which Rs 14 lakh will be given on maturity. Under this policy, the investment amount can be increased or decreased, which will affect the funds you receive on maturity.

Or is this the specialty of this policy of LIC?
In this plan of LIC, the age of the daughter should be at least 1 year. Investors also get the benefit of tax benefits in the LIC Kanyadaan Policy. Under Section 80C of the Income Tax Act 1961, you can avail exemption up to Rs 1.5 lakh. Under this policy, you don't need to use the money you receive on maturity for marriage. You can also use this fund for the bright future of your daughter.

On the death of the policyholder-
If the policyholder dies, there is a provision of up to Rs 10 lakh for the nominee. At the same time, in case of the death of the policyholder after the completion of the maturity period, the nominee gets Rs 27 lakh.

Which documents are required?
Under this policy, an Aadhaar Card, Income Certificate, Address Proof, Passport Size Photo, and Birth Certificate of the daughter are required.

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