LIC Kanyadan Policy

1. At maturity, the policyholder receives a lump sum payment.
2. Gives your daughter financial security
3. The premium is waived in the event of the insured parent's death.
4. The full maturity amount will be paid when the policy matures. 
5. Life insurance coverage for a set length of time, up to three years before maturity.

LIC Kanyadan Policy Benefits

The different benefits of LIC Kanyadan are discussed briefly below -

1. The premium payment period is three years shorter than the policy payment term. 
2. Term of paying premiums is limited.
3. Payments can be made on an annual, half-yearly, quarterly, or monthly basis. 
4. The disability rider benefit is available if the premium tenure is at least 5 years. 
5. The account maturity period ranges from 13 to 25 years.

LIC Kanyadan Policy Details

Additional Details of LIC Kanyadan Policy

Below are some additional details about LIC Kanyadan policy -

1. What is excluded - No benefits or supplementary coverages will be paid if the policyholder commits suicide within 12 months of the policy's inception.
2. Grace period - The policyholder has 30 days to make annual, half-yearly, or quarterly payments, and 15 days to make monthly premium payments. During the grace period, the policyholder is not charged any late fees or penalties. If the premium is not paid even after the grace period, the policy will be cancelled without further notice. 
3. Surrender value - Surrender value will be paid only if the premiums have been paid in full for at least three years prior to relinquishing the LIC Kanyadan Policy. The guaranteed surrender value is the total percentage of premiums less rider premiums, which varies according to policy duration and surrender year.