For every group in society, the Life Insurance Corporation of India (LIC) provides a plan. All of your needs are met by LIC policies. The most well-known LIC policies are goal-based. You can therefore adopt policies for your child's education and marriage.
The LIC Kanyadan Policy is one such policy. You won't have to worry about your daughter's big fat Indian wedding thanks to LIC Kanyadan, which will also cover the cost of her education. A pitiful sum would be required from you in exchange for this big gesture. Here's how to use the LIC Kanyadan Policy to earn Rs 27 lakh.
Therefore, the LIC Kanyadan Policy has a 25-year period. For 22 years, you must invest Rs 3600 per month at a rate of Rs 121 each day.
A three-day lock-in period would be required. After 25 years, you would receive Rs. 27 lacs as payment. The insurance has a 13-year minimum and a 25-year maximum term. The minimum amount guaranteed is Rs. 1 lakh.
The child's father should be between the ages of 18 and 50. The daughter should be at least a year old. Depending on the age of your child, you can choose the term.
When she turns 25 the money will be given to her. Both her education and her wedding can be paid for with this money.
Education Fees Benefits: Once your daughter becomes 16 years old, she will begin receiving INR 50 lakhs annually. This advantage is available to the girl until she is 26.
Pension Plan: Once your daughter turns 26 years old, she begins receiving a lifelong pension benefit of INR 45,000 per month. The cover comes with whole-life insurance coverage for INR 1 crore.
The LIC's Kanyadan Policy keeps track of all your girl child's financial obligations both when you're present and away. You must put money aside for your daughter's education and higher education when you are present.
When you are not there, it provides a lump sum to your loved ones right away, Life Insurance Corporation of India saves money for your female kid, and it also pays a sizable sum to your loved ones each year for her schooling.
