LIC Kanyadan Policy 2023; Know Benefits About Girl Child And Other Details Here

LIC Kanyadan Policy is a savings and protection plan offered by LIC of India for girl child.

Life Insurance Corporation (LIC) of India has introduced a savings plan specifically designed for the betterment of girl child. The LIC Kanyadan Policy aims to provide financial benefits for education and marriage expenses. To avail of this scheme, fathers can opt for life insurance coverage for their daughters. The daughter should be at least 1 year old, while the parent’s age must be between 18 and 50 years. The minimum sum guaranteed limit for this account is one lakh rupees, and the maturity term spans from 13 to 25 years.

Also Read- Indian online skill gaming stakeholders writes to PMO, ministries after Centre imposes 28% GST on industry

LIC Kanyadan Policy 2023 has the following features and benefits:

1. Any citizen, including NRIs, can invest in their daughter’s marriage through this scheme. It provides a means to accumulate funds for her future needs.

2. The family is relieved of paying the premium for this coverage in the unfortunate event of the policy holder’s demise. In addition, the LIC would provide the family with Rs 1 lakh rupees each year.

3. After 25 years of coverage, the policy’s nominee would get a lump sum payment of Rs. 27 lakh.

4. If the beneficiary dies in an accident, the LIC will pay a death benefit of Rs 10 lakh to the recipient’s family.

5. If the beneficiary dies from natural causes, LIC will pay Rs 5 lakh to the recipient’s family.

6. The insurance provides life risk coverage until three years before the maturity date, providing the insured’s protection.

Also Read– HDFC Bank Debit Card Users ALERT! Here Is How You Can Online Disable Card Transactions To Curb Frauds

7. The life guaranteed will get a lump sum payment at maturity.

8. This policy is completely tax-free, offering an added advantage.

9. By making a daily deposit of Rs. 75, you can accumulate Rs. 14 lakhs for your daughter’s marriage after 25 years of paying the monthly premium.

10. This policy also provides the benefit of a yearly bonus declared by LIC.

11. The premium paying term should be less than 3 years in comparison to the policy term.

Source :
News 18

RELATED ITEMS:, , , 

Comments

Post a Comment

Popular posts from this blog

Senior Citizen Train Ticket Discount: Government has issued a new statement regarding giving discount to senior citizens on train tickets, know the details here

Image
  Senior Citizen Train Ticket Discount: Once again a demand has been made in the Lok Sabha to give discount to senior citizens on train tickets. Senior Citizen Train Ticket Discount:  Railways has withdrawn the discount given to senior citizens on train tickets since the Corona period. However, from time to time there has been a demand to restore this concession given to senior citizens in trains. Even in the winter session of the Lok Sabha, some members raised the demand for increasing fare concessions and facilities for senior citizens traveling in trains. However, even before this, Railway Minister Ashwini Vaishnav has told in the Lok Sabha that during the train journey, every passenger is given an average subsidy of 53 percent on the train ticket. Apart from this, he also told who gets discount on tickets while traveling by train. Demand for discount in train tickets raised again During Zero Hour in the House, Janata Dal (United) MP Kaushalendra Kumar said that before the Corona ep
Read more

Cash Transaction Rules: Income tax rules on cash transaction between Husband-Wife and Son-Father, know rules

Image
  Cash Transaction Rules: Income tax keeps an eye on our every transaction. But is there any tax on cash transactions or can Income Tax send a notice? Or how much cash transaction can take place between you and your wife or between father and son? If you also have these questions in your mind, then let us know their answers… If you also transact money between father and son or between husband and wife, then this news is useful for you. Actually, every transaction of ours has an eye on income. In such a situation, a question arises in the minds of many people whether income tax notice can be received even on cash transactions? Let us know how much cash transaction you can do in your family. Income tax sends notice? According to tax experts, if you give money every month for household expenses or give money as a gift, then the wife is not liable for income tax. Both these types of amounts will be considered as the income of the husband. The wife will not receive any notice from the Incom
Read more

Have a Current/Savings Bank Account? Know the Cash Deposit Limits under Income Tax Act to avoid Penalties and Notices

Image
  Adhering to cash deposit and withdrawal limits is crucial to remain compliant with the Income Tax Act in India. This article aims to elucidate the various facets of cash-related regulations, encompassing savings and current accounts, fixed deposits, credit card bill payments, real estate transactions, and more.  Cash Deposit Limits in Savings and Current Accounts The Indian Income Tax Act imposes specific regulations on significant cash deposits in savings accounts. Individuals accumulating INR 10 lakh or more during a fiscal year must notify tax authorities.  For current accounts, this threshold is set higher at INR 50 lakh. Although not immediately taxed, financial institutions report transactions exceeding these limits.  Cash Withdrawal and TDS under Section 194N  Section 194N outlines TDS rules for cash withdrawals. A 2% TDS is levied on withdrawals exceeding INR 1 crore within a fiscal year. Non-filers face a 2% TDS on withdrawals over INR 20 lakh and a 5% TDS on amounts exceedi
Read more