Many parents in India dream of giving their daughters a strong financial start, especially for milestones like marriage or education. The LIC Kanyadan Policy Calculator helps you figure out premiums and benefits for what agents often call the “Kanyadan” plan, actually based on LIC’s Jeevan Lakshya.

What is LIC Kanyadan Policy?

Parents know how important it is to save for a daughter’s wedding without worry. The LIC Kanyadan Policy is a popular name for LIC Jeevan Lakshya (Plan 933), an endowment plan that builds savings while offering life cover. It lets you pay premiums for a shorter time than the full term, perfect for planning ahead.

This plan gives a lump sum at maturity for big expenses, plus protection if something happens to you. Launched on February 1, 2020, and withdrawn on October 1, 2024, similar options like LIC Jeevan Labh are now available from agents. It’s not a separate product but a way agents market it for a girl child’s future.

Why Use LIC Kanyadan Policy Calculator?

Calculating insurance by hand is tough with bonuses and terms involved. A LIC Kanyadan Policy Calculator shows exact premiums, maturity amounts, and death benefits based on your inputs like age and sum assured.

It saves time and avoids mistakes. You enter details, and it spits out yearly costs plus what your family gets. Great for comparing options before buying. Online tools on sites like liccalculator.xyz make it simple.

Key Features of the Policy

This plan stands out for families focused on a girl’s future. The premium payment term is always the policy term minus 3 years, so for a 15-year term, pay for 12 years.

• Participating in profits, so you get bonuses added yearly.
• Loan option after 2 years’ premiums.
• Riders for accidental death or disability.
• Tax-free maturity under Section 10(10D).

Sum assured starts at Rs 1 lakh, no upper limit in multiples of Rs 10,000.

Eligibility Criteria

Not everyone qualifies, but it’s straightforward for most parents. Policyholder age: 18 to 50 years. Daughter’s age minimum 1 year, but policy is in parent’s name.

Policy term 13-25 years, maturity age up to 65. Buy it for your girl child under 10 often recommended by agents.

How the Calculator Works

Start with your age, daughter’s age or desired term, and sum assured. The tool uses LIC rates to compute tabular premium, rebates, and GST.

It factors bonuses (around Rs 40-50 per 1000 sum assured yearly, varies). Shows first-year premium (4.5% GST) and ongoing (2.25%). Output includes total paid, maturity estimate, and death benefit scenarios.

For example, adjusting sliders for instant updates is super user-friendly.

Sample Premium Calculations

Let’s look at real numbers to make it clear. These are based on standard illustrations for a 36-year-old male, 15-year term, and Rs 25 lakh sum assured.

Rebates: 2% for yearly mode, high SA rebate up to 3%. Use official-like calculators for your numbers.

Maturity and Death Benefits

If you survive, get Basic Sum Assured + Vested Bonuses + Final Additional Bonus at end. For Rs 25 lakh, could be Rs 50 lakh+ with bonuses.

On death during term: 10% SA annually till end + 110% SA + bonuses at maturity to nominee. Premiums waived, policy continues. Total family payout higher than premiums paid.

Example: Death early, nominee gets Rs 35 lakh immediately plus ongoing benefits, total Rs 87.5 lakh tax-free.

Tax Benefits and Rebates

Save under 80C on premiums up to Rs 1.5 lakh yearly. Maturity tax-free u/s 10(10D).

Rebates lower costs:

Mode rebate: 2% yearly.

How to Buy and Use the Calculator

Visit licindia.in or agent sites for similar plans post-withdrawal. Enter details online, get a quote, and apply with ID proofs.

Steps for calculator:

1. Pick age, term.
2. Enter sum assured.
3. View premium, benefits.
4. Adjust for best fit.

Free look period 15 days.

Comparison with Other Plans

Better than Sukanya Samriddhi for life cover, though SSY has higher interest. Vs Jeevan Tarun: More maturity focus.

Revival and Surrender Options

Miss premiums? Revive within 5 years with interest. Surrender after 2 years for 90% surrender value if active.

Paid-up after 2 years: Reduced benefits continue.

Common Misconceptions

It’s not withdrawn fully; marketed as Kanyadan via Jeevan Lakshya till 2024, now alternatives. Not direct in the daughter’s name. Bonuses are not guaranteed, but steady.

FAQ

Conclusion

The LIC Kanyadan Policy Calculator is a smart tool for parents to plan confidently. It combines savings, protection, and tax perks for your daughter’s big days. Talk to an LIC agent today for the best current option and start calculating your secure future.