LIC Kanyadan Policy Calculator: Premium, Maturity and Death Benefit for Your Daughter's Future

What is the LIC Kanyadan policy?

“LIC Kanyadan policy” is the popular name for LIC Jeevan Lakshya when a parent buys it with a daughter’s future in mind. There is no separate plan called Kanyadan in LIC’s product list. The original version was Plan 933, which LIC withdrew on 1 October 2024; the current version is Plan 733.

What makes it suitable for this goal is its family income benefit. If the parent dies during the term, premiums stop, the family receives a yearly income, and the planned lump sum still arrives on the maturity date. So the wedding or college fund does not depend on the parent being alive.

This Kanyadan policy calculator shows:

• the yearly premium and the instalment for your payment mode;
• the premium paying term (term minus 3 years) and the total premium;
• the estimated maturity amount with bonus, and the approximate IRR;
• your daughter’s age at maturity;
• the yearly income and maturity lump sum the family gets if the parent dies in a chosen year.

Kanyadan policy at a glance

Feature	Details
Underlying plan	LIC Jeevan Lakshya (Plan 733; earlier Plan 933)
Who is insured	The parent (father or mother)
Parent’s entry age	18 to 50 years
Policy term	13 to 25 years
Premium paying term	Policy term minus 3 years
Maximum maturity age	65 years
Minimum sum assured	₹2 lakh (as in Plan 733)
Maturity benefit	Sum assured + simple reversionary bonus + final additional bonus
On death of parent	10% of sum assured yearly till maturity, then 110% of sum assured + bonus

How the premium and benefits are calculated

1. Premium rate. The calculator runs on our Plan 733 module, which follows the sample premiums in LIC’s Jeevan Lakshya sales brochure (13, 15, 20 and 25-year terms at several ages) and interpolates in between.
2. Rebates. LIC’s high sum assured rebate (₹4 per ₹1,000 from ₹5 lakh and ₹5 from ₹10 lakh) and the mode rebate (2% for yearly, 1% for half-yearly, none for quarterly or monthly) are applied.
3. No GST. Life insurance premiums have been GST-exempt since 22 September 2025.
4. Maturity. Sum assured + bonus rate × (sum assured ÷ 1,000) × term + the final additional bonus you enter (₹20 per ₹1,000 by default).
5. Death benefit. If the parent dies, future premiums are waived. The family gets 10% of the sum assured every year from the anniversary after death until the year before maturity, then 110% of the sum assured, the bonus added till death and the final bonus on the maturity date. The total is never less than 105% of the premiums paid.

Worked examples

Example 1: a 30-year-old parent, daughter aged 3. Rahul chooses ₹10 lakh cover for 20 years, so the policy matures when his daughter is 23.

Item	Estimate
Yearly premium	₹54,290 (₹4,625 a month)
Premium paying term	17 years
Total premium (yearly mode)	₹9,22,930
Bonus + final bonus	₹9,80,000
Maturity amount	₹19,80,000
IRR	about 6.19%

If Rahul died in the 5th policy year, his family would stop paying premiums, receive ₹1,00,000 a year for 15 years, and get ₹13,60,000 on the maturity date. In total, that is ₹28,60,000.

Example 2: a larger goal. Priya, 35, has a 5-year-old daughter and picks ₹20 lakh for 20 years. Her premium is about ₹1,11,765 a year, and the estimated maturity amount is ₹39,60,000 when her daughter turns 25.

Tip: pick the term from your daughter’s age, not from the parent’s. If she is 3 and you expect to need the money at 23, a 20-year term fits. A longer term lowers the yearly premium, but the money arrives later.

How to read the results

• Yearly premium / premium per instalment: what you pay; there is no GST on top.
• Estimated maturity amount: depends on the bonus rate you enter. Try ₹40 and ₹50 to see a range.
• Daughter’s age at maturity: helps you check the timing against the goal.
• Yearly income to family after parent’s death: 10% of the sum assured, for the number of years shown.
• Lump sum at maturity after parent’s death: paid on the original maturity date.
• IRR: the approximate yearly return on your premiums if the parent survives.

Tips and common mistakes

• Do not buy it as your only cover. A Kanyadan policy of ₹10–20 lakh is a savings plan. Pair it with a term plan so that the family’s daily expenses are also protected.
• Account for inflation. A wedding that costs ₹15 lakh today may cost far more in 20 years. Increase the sum assured or add other investments.
• Keep the policy on the parent’s life. The benefits are triggered by the parent’s death, so the earning parent should usually be the life assured.
• Name the daughter as nominee and update the nomination when she becomes an adult.
• Avoid early surrender. Surrender value in the first few years is well below the premiums paid.

Related calculators

• LIC Jeevan Lakshya Plan 733: complete plan details, eligibility and features.
• LIC child plan calculator: compare other LIC plans for children.
• LIC Jeevan Tarun Plan 734: a child plan where the child is the life assured and gets money back from age 20.