LIC Kanyadan Policy Calculator
Calculate Premium & Maturity Benefits for Your Daughter’s Future
- This is an illustrative calculator and not an official LIC quotation.
- “LIC Kanyadan Policy” is a commonly used name online; the LIC product referenced here is Jeevan Lakshya.
- Actual premium depends on the Life Assured’s age, Basic Sum Assured, policy term, premium mode and applicable rebates.
- Bonuses are declared by LIC and are not guaranteed in advance.
- The maturity calculation uses the assumed bonus entered above. Actual maturity may differ.
Every parent wants to be financially ready when a daughter's wedding or higher education comes around. That is the exact need the LIC Kanyadan Policy Calculator helps you plan for. In this guide, we explain what the calculator actually does, which real LIC plan sits behind the "Kanyadan" name, and how to read its numbers — with a fresh, worked-out example. We also correct a few outdated facts that many older articles on this topic still carry.
This is an independent, educational guide. It is not published by LIC and does not replace advice from a licensed LIC agent or financial advisor.
What Is the LIC Kanyadan Policy Calculator?
It's a free online tool that estimates three things for a Jeevan Lakshya-based "Kanyadan" plan:
- Premium — how much you pay, and for how many years.
- Annual income benefit — what your family would receive every year if you are not around.
- Maturity value — the lump sum paid out at the end of the policy term.
You enter your age, the sum assured you want, and the policy term, and the calculator does the rest.
Kanyadan Is Not a Separate LIC Plan — Here's What It Really Is
This is the part most people get confused about. LIC has never sold a plan officially called "Kanyadan." What agents call the Kanyadan Yojana is actually LIC's Jeevan Lakshya plan, positioned specifically for a daughter's future.
Here's why the confusion happens, and what's actually current:
- LIC first launched Jeevan Lakshya as Plan 833, later revised to Plan 933 (UIN: 512N297V02) in February 2020.
- Under IRDAI's 2024 product regulations, LIC revised the plan again. Plan 933 was withdrawn on 1 October 2024, and on the same day, LIC launched its replacement: Plan 733 (UIN: 512N297V03).
- So if you are buying a fresh "Kanyadan" policy today, you are actually buying Plan 733 — the plan is very much alive, just under a new number. Older Plan 933/833 policies bought before October 2024 simply continue as they are.
Technically, it works like this: you (the parent) pay premiums for a fixed number of years. If you survive the full term, LIC pays a lump sum. If you pass away during the term, your family gets a yearly income until the term ends, plus a lump sum at maturity — with no more premiums due from your side.
Why Bother With a Calculator Before Buying?
- Affordability check — See if the premium fits your monthly budget for the next 13–25 years.
- Goal alignment — Time the policy term so the maturity payout lands around your daughter's expected marriage or higher-education age.
- Scenario testing — Compare a higher sum assured with a longer term against a lower sum assured with a shorter term.
- Realistic expectations — Understand how much of the final amount depends on LIC's yearly bonus declarations, which are never fixed in advance.
Key Features of Jeevan Lakshya Plan 733 (Current "Kanyadan" Plan)
| Feature | Detail |
|---|---|
| Plan type | Participating (with-profit), non-linked, individual savings plan |
| Who is insured | The parent/proposer (not the daughter) |
| Policy term | 13 to 25 years |
| Premium paying term | Policy term minus 3 years (e.g., 15 years' premium for an 18-year term) |
| Minimum Sum Assured | ₹2,00,000 (raised from ₹1,00,000 under the old Plan 933) |
| Maximum Sum Assured | No upper limit, subject to underwriting |
| Payment modes | Yearly, half-yearly, quarterly, monthly |
Eligibility at a Glance
| Criteria | Detail |
|---|---|
| Minimum entry age (parent) | 18 years |
| Maximum entry age (parent) | 50 years |
| Minimum maturity age | 31 years |
| Maximum maturity age | 65 years |
| Daughter's age | No fixed minimum under the plan rules — her current age is mainly used to decide a policy term that matches her expected marriage/education timeline |
Tip: If your daughter is 5 now and you want the payout ready by the time she is 23, an 18-year policy term works well, since 5 + 18 = 23.
How the Death Benefit Actually Works (This Is the Key Feature)
Unlike a plain endowment plan that pays one lump sum on death, Jeevan Lakshya is built to give your family ongoing support first, then a bigger payout later — closer to how real education or wedding expenses come up over several years.
If the parent (Life Assured) dies during the policy term:
- Annual Income Benefit — the nominee receives 10% of the Basic Sum Assured every year, starting the year after death and continuing until the policy would have matured.
- Maturity-time payout — when the original term ends, the nominee additionally receives 110% of the Basic Sum Assured, plus all vested bonuses and the Final Additional Bonus (FAB), if any.
- No further premiums are required from the family after the parent's death — the full benefit still plays out as designed.
- LIC guarantees the total death benefit will never be less than 105% of all premiums paid up to that point, even in the worst case.
If the parent survives the full term, the Maturity Benefit = Basic Sum Assured + vested Simple Reversionary Bonus (SRB) + Final Additional Bonus.
How to Use the Calculator, Step by Step
- Open a Jeevan Lakshya / Kanyadan calculator on LIC's official website or a trusted LIC calculator page.
- Select Jeevan Lakshya (Plan 733).
- Enter your age, gender, and the sum assured you want (minimum ₹2,00,000).
- Pick a policy term between 13 and 25 years — ideally one that lines up with your daughter's future milestone.
- Choose your premium payment mode and add riders if you want extra cover.
- Click Calculate to see your estimated premium, projected annual income benefit, and maturity value.
A Worked Example (For Understanding Only)
Meet Suresh, aged 32, with a 4-year-old daughter. He wants:
- Sum Assured: ₹15,00,000
- Policy Term: 18 years
- Premium Paying Term: 15 years
- Mode: Yearly
| Item | Approximate Value |
|---|---|
| Annual Premium (after yearly rebate) | ₹75,000 – ₹78,000 |
| GST | ₹0 (exempt from Sept 2025) |
| Total Premium Over 15 Years | ≈ ₹11.3 – 11.7 lakh |
| If Suresh passes away in, say, year 6: Annual Income to family (10% of BSA) | ₹1,50,000 per year, from year 7 until year 18 |
| Lump sum at end of term (110% of BSA + bonuses) | Roughly ₹22 – 25 lakh* |
| If Suresh survives the full term — Estimated Maturity Value | Roughly ₹26 – 30 lakh* |
*These figures depend on LIC's future bonus declarations and are illustrative only, not a guarantee. Use the official calculator for exact, policy-specific numbers.
This is what makes Jeevan Lakshya well suited to a "Kanyadan" goal — if something happens to the parent, the family isn't left waiting years for a single payout. Money starts coming in almost immediately, and the bigger amount still arrives on schedule.
Riders You Can Add
- Accidental Death & Disability Benefit Rider – additional payout if death or disability is caused by an accident.
- Accident Benefit Rider – a separate, standalone accident cover option.
- New Term Assurance Rider – boosts the overall life cover at a low extra premium.
Tax Benefits
- Section 80C: Premiums paid qualify for a deduction of up to ₹1.5 lakh per year (old tax regime).
- Section 10(10D): Maturity proceeds and death benefit payouts are generally tax-free, subject to the conditions under the Income Tax Act.
- GST: 0% on individual life insurance premiums since 22 September 2025 — no extra tax loading on your quoted premium.
Surrender, Loan, Grace Period, and Free-Look
- Surrender: Allowed after at least 1 full year's premium has been paid — a big improvement over the earlier 2-year rule under Plan 933.
- Loan: Also available after 1 full year's premium, based on the surrender value.
- Grace period: 30 days for yearly/half-yearly/quarterly modes; 15 days for monthly mode.
- Free-look period: 30 days from receiving the policy document to review and return it if you're not satisfied — extended under the 2024 IRDAI regulations.
Frequently Asked Questions
Is "LIC Kanyadan Policy" a real, separate LIC plan? No. It's a marketing name used for LIC's Jeevan Lakshya plan when bought for a daughter's future. There is no LIC table number called "Kanyadan."
Which plan number is used for Kanyadan today? Plan 733 (UIN: 512N297V03), active since 1 October 2024. It replaced the earlier Plan 933 on the same day, so there was no break in availability.
Whose age matters for eligibility — the parent's or the daughter's? The parent's. The Life Assured must be between 18 and 50 years old at entry. The daughter's age is only used to help choose a policy term that suits her future milestone.
What happens if the parent dies during the policy term? The nominee gets 10% of the Basic Sum Assured every year until the term ends, plus a lump sum (110% of BSA + bonuses) at maturity. No further premiums are needed.
Can I still buy this policy in 2026? Yes. Plan 733 is currently active and open for new business.
Is GST charged on the premium shown by the calculator? No. Individual life insurance premiums, including this plan, have carried 0% GST since 22 September 2025.
Is the minimum sum assured still ₹1,00,000? No — it was raised to ₹2,00,000 when Plan 733 replaced Plan 933 in October 2024.
Can I take a loan against this policy? Yes, after at least 1 full year's premium has been paid, based on the policy's surrender value.