The Life Insurance Corporation of India (LIC) has a plan for all the sections of the society. LIC policies cater to all your needs. Most famous policies of LIC are goal-based. So there are policies that you can take for your child's education and marriage. One such policy is the LIC Kanyadan Policy.
Under LIC Kanyadan, you can forget the worries of the big fat Indian wedding -- this policy will pay for your daughter's marriage and education. You would have to part with a paltry sum for this grand gesture. Here's how you can earn Rs 27 lakh using the LIC Kanyadan Policy.
So, the LIC Kanyadan Policy has a term of 25 years. You will have to invest Rs 3600 per month at the rate of Rs 121 per day for 22 years.
There would be a three-day lock in period. After that, you will be handed over Rs 27 lakh after 25 years.
The minimum term for the insurance is 13 years, the maximum is 25 years. Minimum sum assured is Rs 1 lakh.
The age of the father of the child should be between 18 and 50. The daughter's age should be a minimum of 1 year. You can choose the term based on your child's age.
The money will be handed over when she turns 25. This money can be used for marriage as well as her education.
