LIC Kanyadan Policy Calculator: Premium, Maturity & Eligibility 2026 (Plan 733)

If you are a parent planning ahead for your daughter’s wedding or higher education, you have probably come across the term LIC Kanyadan Policy Calculator. In short, it is an online tool that estimates the premium and maturity amount for LIC’s Jeevan Lakshya plan — currently sold as Plan 733 — when it is used as a long-term savings plan for a daughter. This guide explains what the plan actually is, how the calculator works, the current (post-2024) eligibility rules, and what to check before you buy.

What Is LIC Kanyadan Policy? (It’s Not a Separate Plan)

Here’s the first thing every parent should know: there is no LIC plan officially named “Kanyadan.” It does not appear anywhere on LIC’s product list under that name. “Kanyadan Yojana” is a popular marketing nickname that agents and advisors use for LIC’s Jeevan Lakshya, because the plan is commonly structured around a daughter’s marriage or education goal — “Kanyadan” literally meaning the ceremonial act of a father giving his daughter away in marriage.

Underneath the nickname, it is a standard non-linked, participating, endowment-cum-protection plan:

• You pay a fixed premium for a set number of years.
• If you (the policyholder) survive the full policy term, LIC pays a lump-sum maturity amount — the sum assured plus any bonuses declared over the years.
• If the policyholder passes away during the policy term, LIC pays the family an annual income plus a lump sum, so the daughter’s financial goal is still met even without the parent’s income.

Plan 933 vs Plan 733: What Changed on 1 October 2024

This is where a lot of online articles about Kanyadan are now out of date, so it’s worth getting right.

LIC’s Jeevan Lakshya was originally sold as Plan No. 933 (UIN: 512N297V02), launched on 1 February 2020. Following IRDAI’s new surrender value regulations, LIC withdrew Plan 933 from sale with effect from 1 October 2024 and replaced it with a revised version: Plan No. 733 (UIN: 512N297V03).

If you already own a Jeevan Lakshya / Kanyadan policy bought before October 2024, nothing changes for you — your policy runs till maturity exactly as per the terms you signed up for, and you can still use a Kanyadan calculator to track your expected maturity value. If you are buying fresh in 2026, you will be issued Plan 733, so make sure any calculator or illustration you use reflects the updated eligibility numbers below, not the older ₹1 lakh minimum sum assured figure that’s still floating around on many websites.

Why You Need a LIC Kanyadan Policy Calculator

Working out premiums and maturity values by hand is genuinely hard — the numbers depend on your age, your chosen sum assured, the policy term, and LIC’s bonus rates, which change every year. A good online calculator saves you that effort. It typically:

• Takes your current age, the policy term you want, and your desired sum assured as input.
• Shows the yearly (or monthly) premium, including GST.
• Estimates the maturity value using LIC’s current bonus rate as a reference point.
• Lets you instantly test “what if” scenarios — a longer term, a higher sum assured, or an earlier target age for your daughter’s marriage.

With these numbers in hand, you can judge whether the premium fits your monthly budget over the next 13–25 years, and whether the projected maturity amount will realistically cover the goal you’re saving for.

How to Use the LIC Kanyadan Policy Calculator (Step by Step)

1. Open a Jeevan Lakshya / Kanyadan premium calculator on a trusted LIC-focused website.
2. Select LIC Jeevan Lakshya (Plan 733) as the plan — this matters, since calculators still showing “Plan 933” are using outdated eligibility rules.
3. Enter your details:
   • Your current age (18–50 years, nearer birthday).
   • Gender.
   • Policy term — choose anywhere from 13 to 25 years, keeping in mind your age at entry plus the term cannot cross 65 years (the maximum maturity age).
   • Premium Paying Term — this is automatically set to Policy Term minus 3 years (for example, 19 years of premium for a 22-year policy).
   • Desired Basic Sum Assured — minimum ₹2,00,000, no upper limit, subject to LIC’s underwriting.
   • Premium payment mode — yearly, half-yearly, quarterly, or monthly (ECS).
4. Click Calculate.
5. The calculator displays your estimated premium (with GST), the projected maturity value based on current bonus rates, and often a year-by-year breakup.

From here, compare two or three combinations — a slightly lower sum assured with an affordable premium versus a higher sum assured that stretches your budget — before deciding what fits your family’s finances.

Eligibility Criteria for LIC Jeevan Lakshya (Plan 733) — Latest 2026 Rules

Note that the policy can technically be taken by either parent (father or mother) as the life assured, as long as they meet the age criteria — it doesn’t have to be the father, despite the “Kanyadan” imagery.

Key Features and Benefits of LIC Kanyadan (Jeevan Lakshya Plan 733)

• Dual protection: Combines a savings-linked maturity payout with a life cover component, so the daughter’s goal is funded either way.
• Shorter premium term than policy term: You stop paying premiums 3 years before the policy actually matures, while the policy continues earning bonus for those final years.
• Bonus accumulation: LIC declares a Simple Reversionary Bonus per ₹1,000 of sum assured each year the policy is in force, and may add a Final Additional Bonus (FAB) at maturity in later years.
• Loan facility: After the policy acquires a surrender value (generally after paying premiums for a couple of years), you can usually take a loan against it for emergencies.
• Settlement option: Instead of one lump sum, you can choose to receive the maturity benefit in instalments spread over 5, 10, or 15 years.
• Optional riders: Accidental Death and Disability Benefit Rider, Accident Benefit Rider, and New Term Assurance Rider can be added for extra protection at a small additional premium.
• GST on premium: 4.5% in the first policy year, reducing to 2.25% from the second year onward.

How the Death Benefit and Maturity Benefit Actually Work

This is the part most people get confused about, so here’s the clear breakdown:

If the policyholder survives the full term (Maturity Benefit): Sum Assured on Maturity (equal to the Basic Sum Assured) + Vested Simple Reversionary Bonuses + Final Additional Bonus (if any) — paid as one lump sum (or via the settlement option).

If the policyholder passes away during the policy term (Death Benefit):

1. Annual Income Benefit — the family receives 10% of the Basic Sum Assured every year, starting from the policy anniversary after the death, continuing until the policy anniversary just before maturity.
2. Lump sum at the original maturity date — 110% of the Basic Sum Assured, plus all vested bonuses and the Final Additional Bonus, paid out exactly as originally planned, even though no further premiums were paid.

The overall death benefit is also subject to a regulatory minimum of 105% of all premiums paid till the date of death — whichever works out higher for the family.

Sample Illustration: LIC Jeevan Lakshya (Plan 733) Numbers

The figures below are a real-world style illustration based on a 30-year-old entrant choosing a 25-year policy term. Treat this purely as an example — your actual premium and bonus will depend on your age, health, chosen term, and the bonus rates LIC declares in future years.

For your own age, sum assured, and term, always run the numbers through an updated Plan 733 calculator — or ask your LIC agent for an official benefit illustration, which is the only document that carries LIC’s actual commitment.

Tax Benefits

• Premiums paid qualify for deduction under Section 80C of the Income Tax Act, up to the overall ₹1.5 lakh annual limit under that section.
• Maturity proceeds and death benefit are generally exempt from tax under Section 10(10D), provided the premium-to-sum-assured ratio conditions laid down in current tax rules are met.
• Tax rules change from time to time, so confirm the latest position — especially if you have opted for the new income tax regime — with a tax professional before relying on this for planning.

LIC Kanyadan Policy Calculator vs Manual Calculation

A calculator is best used as a planning tool to shortlist 2–3 workable combinations of sum assured and term. The final, binding numbers always come from LIC’s official benefit illustration at the time of proposal.

How to Buy LIC Jeevan Lakshya (Kanyadan) Plan 733

As of 2026, Plan 733 is sold only through offline channels — a licensed LIC agent, your nearest LIC branch office, or a corporate insurance intermediary. It is not available for self-purchase through LIC’s online portal. Your agent will need basic KYC documents, proof of your daughter’s date of birth (if she is the nominee/beneficiary focus), income proof for higher sum assured amounts, and may require a medical check-up depending on your age and chosen sum assured.

Frequently Asked Questions

Is “LIC Kanyadan Policy” a separate plan from LIC? No. It’s a popular nickname for LIC’s Jeevan Lakshya plan, currently sold as Plan 733, marketed toward parents saving for a daughter’s marriage or education.

What is the minimum sum assured now? ₹2,00,000 under the current Plan 733 — this increased from the earlier ₹1,00,000 minimum under the now-discontinued Plan 933.

Can a mother buy this policy, or only the father? Either parent can be the policyholder, as long as they meet the age eligibility (18–50 years at entry).

What happens if the policyholder dies before maturity? The nominee receives 10% of the Basic Sum Assured every year until the original maturity date, and then 110% of the Basic Sum Assured plus bonuses as a lump sum on that maturity date — with no further premiums due.

Is the plan available for purchase online? No, Plan 733 is sold only offline, through LIC agents or branch offices.

Is my old Jeevan Lakshya / Kanyadan policy (Plan 933) still valid? Yes. Policies bought before 1 October 2024 continue exactly as per their original terms; only new sales moved to Plan 733.

How accurate are online LIC Kanyadan calculators? They’re useful for planning and comparison, but the premium and bonus figures are estimates. The binding numbers come only from LIC’s official benefit illustration generated at the time you apply.

Conclusion

The LIC Kanyadan Policy Calculator is really a Jeevan Lakshya (Plan 733) calculator wearing a more emotionally resonant name. Used correctly — with the current, post-October-2024 eligibility numbers — it’s a genuinely useful first step for parents trying to figure out whether this endowment-cum-protection plan can realistically fund their daughter’s wedding or education. Treat every online estimate as a starting point, not a final figure, and confirm your exact premium and maturity projection with a licensed LIC agent or the official benefit illustration before you commit.