LIC Kanyadan Policy Calculator
Instant premium, maturity & death benefit projections for LIC Jeevan Lakshya (Plan 933/733) — with 2026 GST-exempt rates and latest declared bonuses.
Good News! Individual life insurance policies are fully exempt from GST since September 22, 2025. The premiums shown below are GST-free.
Proposer / Policyholder
Life Assured (min 18 at maturity)
Min ₹1,00,000 (₹2L for new Plan 733)
PPT auto-set to 18 years
Daughter's Age at Maturity
22 years
Results update automatically as you type
Daily Savings
₹145
per day for your daughter's future
Yearly Premium
₹52,920
GST exempt • 0% tax on premium
Tax-Free Maturity
₹21,07,000
Sec 10(10D) tax-free
Wealth Gain
2.21x
for every ₹1 invested
Yearly Premium
GST exempt since Sep 2025
Monthly Equivalent
For budgeting purpose
Premium Paying Term
Policy Term − 3 years
Simple Reversionary Bonus
2024-25 declared rates
Final Additional Bonus (FAB)
One-time at maturity (not guaranteed)
100% Tax-Free Sec 10(10D)
Premium Waiver
All future premiums completely waived. Policy continues free of cost.
Annual Income
Family receives ₹1,00,000/yr (10% of SA) until 1 yr before maturity.
Maturity Lump Sum
At maturity: ₹20,07,000 (SA + bonuses) for daughter's marriage / education.
Max total death benefit (annual + lumpsum): up to ₹40,07,000 — all 100% tax-free.
LIC Kanyadan Policy: Complete Guide & Calculator (2026)
The LIC Kanyadan Policy is one of the most popular and emotionally significant financial planning tools offered by the Life Insurance Corporation of India. It is a marketing name commonly used by LIC agents for the LIC Jeevan Lakshya Plan (Table No. 933), now replaced by Plan 733 (New Jeevan Lakshya) since October 1, 2024. This plan is specifically designed to secure the financial future of a daughter, ensuring funds are available for her education and marriage — even if the father is no longer alive.
Important Update (October 2024)
The original Plan 933 (Jeevan Lakshya) was withdrawn for new sales on October 1, 2024, per IRDAI Insurance Products Regulations, 2024. It has been replaced by Plan 733 (LIC's New Jeevan Lakshya) with similar benefits. All existing Plan 933 policies remain fully active with original terms unchanged. Our calculator works for both plans.
GST Exemption (September 2025)
The Government of India has fully exempted all individual life insurance policies from GST effective September 22, 2025. Previously, first-year premiums attracted 4.5% GST and renewal premiums attracted 2.25% GST. This exemption makes LIC policies significantly more affordable.
How Does the LIC Kanyadan Policy Work?
Unlike standard endowment policies, the Kanyadan plan offers a unique triple-protection benefit. It is a limited premium payment plan — you pay premiums for a shorter duration (Policy Term − 3 years) while coverage continues for the full term. If the father (policyholder) survives the policy term, a guaranteed maturity amount along with bonuses is paid out. However, the true strength of this policy shines in the unfortunate event of the father's premature demise:
- 1Premium Waiver: All future premiums are immediately waived off. The family does not need to pay another rupee. The policy continues seamlessly.
- 2Annual Income Benefit: The family receives 10% of the Sum Assured every yearfrom the policy anniversary following death until one year before maturity, providing steady income for the child's education and daily needs.
- 3Lump Sum Death Benefit + Maturity Payout: Upon death, a lump sum equal to the higher of 7× Annualized Premium or 110% of Sum Assured (minimum 105% of all premiums paid) is paid immediately. Then at maturity, the full Sum Assured + accumulated bonusesare also paid for the daughter's marriage or education.
LIC Kanyadan Policy Details 2026 — Eligibility & Plan Parameters
| Parameter | Plan 933 (Old) | Plan 733 (New, Oct 2024) |
|---|---|---|
| Plan Type | Non-linked, Participating, Limited PPT Endowment | Same |
| Min Entry Age | 18 years (completed) | 18 years |
| Max Entry Age | 50 years (nearest birthday) | 50 years |
| Max Maturity Age | 65 years | 65 years |
| Policy Term | 13 to 25 years | 13 to 25 years |
| Premium Paying Term | Policy Term − 3 years | Policy Term − 3 years |
| Min Sum Assured | ₹1,00,000 | ₹2,00,000 |
| Max Sum Assured | No upper limit | No upper limit |
| SA Multiples | ₹10,000 | ₹10,000 |
| Surrender Eligibility | After 2 full years | After 1 full year |
| Paid-up Eligibility | After 2 full years | After 1 full year |
| GST | 4.5% / 2.25% | 0% (Exempt since Sep 2025) |
Current Bonus Rates (2024-25 Valuation)
LIC declares Simple Reversionary Bonus (SRB) annually based on its investment performance. The latest declared rates for Jeevan Lakshya plan are:
| Policy Term | SRB per ₹1,000 SA (SA < ₹5L) | SRB per ₹1,000 SA (SA ≥ ₹5L) |
|---|---|---|
| 13 – 15 Years | ₹38 | ₹39 |
| 16 – 20 Years | ₹42 | ₹43 |
| Above 20 Years | ₹46 | ₹47 |
* A Final Additional Bonus (FAB)may also be declared at maturity — this is a one-time terminal bonus that depends on LIC's actuarial valuation and is not guaranteed.
Sample Premium Rates (GST-Exempt)
Below are indicative annual premiums for a standard (non-smoker, healthy) male proposer with a Sum Assured of ₹10 Lakh. These are GST-free since September 2025.
| Father's Age | Term 15 (PPT 12) | Term 21 (PPT 18) | Term 25 (PPT 22) |
|---|---|---|---|
| 25 years | ~₹80,360 | ~₹53,900 | ~₹43,120 |
| 30 years | ~₹82,320 | ~₹55,860 | ~₹44,100 |
| 35 years | ~₹84,280 | ~₹57,820 | ~₹47,040 |
| 40 years | ~₹89,180 | ~₹61,740 | ~₹50,960 |
| 45 years | ~₹98,000 | ~₹70,560 | ~₹58,800 |
* Approximate yearly premiums with 2% yearly mode rebate. High SA rebate of ₹3/₹1,000 SA applied for ₹10L+. Use the calculator above for exact figures.
Maturity Benefit (If Father Survives the Full Term)
If the policyholder survives the entire policy term, the following is payable:
Sum Assured on Maturity: 110% of Basic Sum Assured
Plus: Vested Simple Reversionary Bonuses (accumulated over the full term)
Plus: Final Additional Bonus (FAB), if declared by LIC at maturity
Example: For a ₹10 Lakh SA policy with 21-year term, the estimated maturity value is approximately ₹20-22 Lakhs (₹11L maturity SA + ₹9-10L bonus + FAB). Use our calculator above for a detailed projection.
Death Benefit — Detailed Scenario
The death benefit is the standout feature of this policy. If the father passes away at any time during the policy term:
Immediate Lump Sum on Death:
Higher of: 7 × Annualized Premium or 110% of Basic Sum Assured (minimum 105% of all premiums paid to date)
Annual Income (10% of SA):
Paid every year from the anniversary following death until 1 year before the original maturity date. All future premiums are waived.
Maturity Payout:
At the original maturity date: Sum Assured + Vested SRB + FAB
Example: A 30-year-old father takes ₹10 Lakh SA for 21 years. If he passes away in Year 5, the family receives: (1) Lump sum of ~₹11 Lakh immediately, (2) ₹1 Lakh annually for 15 years = ₹15 Lakh, (3) ₹10 Lakh + bonuses at maturity. Total payout can exceed ₹35+ Lakhs — all tax-free, with zero further premiums.
Tax Benefits of LIC Kanyadan Policy
Section 80C
Premiums paid towards this policy are eligible for tax deduction up to ₹1.5 Lakh per financial year under Section 80C of the Income Tax Act, 1961.
Section 10(10D)
The maturity amount (including bonuses) and death benefit are 100% tax-free under Section 10(10D), provided the annual premium does not exceed 10% of the actual Sum Assured (for policies issued after April 1, 2012).
Surrender Value & Loan Facility
Surrender Value
- Plan 933: Eligible after 2 full years' premiums
- Plan 733: Eligible after 1 full year's premium
- Payout = Higher of Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV)
- GSV factors increase with longer holding periods
- SSV is typically higher and determined by LIC based on market conditions
Loan Against Policy
- Available after paying 2 full years' premiums
- In-force policy: up to 90% of surrender value
- Paid-up policy: up to 80% of surrender value
- Interest compounded half-yearly at LIC-determined rates
- Outstanding loan deducted from death/maturity benefit
Grace Period, Revival & Free Look Period
| Grace Period | 30 days for yearly/half-yearly/quarterly; 15 days for monthly |
| Revival Period | 5 consecutive years from date of first unpaid premium (requires arrears + interest + health proof) |
| Free Look Period | 15 days from receipt of policy document (refund minus risk premium, medical charges, stamp duty) |
Available Riders
You can enhance your LIC Kanyadan policy protection with these optional riders:
| Rider Name | When Can You Add |
|---|---|
| LIC's Accidental Death and Disability Benefit Rider | Anytime during PPT (if remaining PPT ≥ 5 years) |
| LIC's Accident Benefit Rider | Anytime during PPT (if remaining PPT ≥ 5 years) |
| LIC's New Term Assurance Rider | At policy inception only |
| LIC's New Critical Illness Benefit Rider | At policy inception only |
Who Should Buy the LIC Kanyadan Policy?
👨👧 Fathers with Young Daughters
The plan is ideal for fathers aged 25-45 who want to create a guaranteed corpus for their daughter's marriage or education expenses.
🏦 Conservative Investors
If you prefer the safety of government-backed LIC over market-linked investments, this plan offers guaranteed returns plus bonuses.
💰 Tax-Savvy Planners
With Section 80C deduction on premiums and tax-free maturity under Section 10(10D), this is a tax-efficient long-term savings tool.
🛡️ Risk-Averse Families
The triple protection (premium waiver + annual income + maturity) ensures that even in the worst case scenario, the daughter's financial future is secure.
LIC Kanyadan Policy vs Other Child Plans
| Feature | Kanyadan (Jeevan Lakshya) | Jeevan Tarun | Sukanya Samriddhi |
|---|---|---|---|
| Annual Income on Death | ✅ Yes (10% of SA) | ❌ No | ❌ No (savings only) |
| Premium Waiver on Death | ✅ Yes | ✅ Yes (via rider) | N/A |
| Life Cover | Yes — extensive | Yes | ❌ No |
| Returns (Approx.) | ~5-6% p.a. | ~5-6% p.a. | ~8.2% p.a. (current) |
| Risk Level | Very Low | Very Low | Very Low |
| Best For | Marriage + Protection | Money-back at ages | Pure savings (girl child) |
How to Buy LIC Kanyadan Policy
- Calculate Your Premium: Use our calculator above to determine the right Sum Assured, term, and premium for your budget.
- Contact an LIC Agent: Find a nearby LIC branch or authorized agent. You can also visit licindia.in for agent locator.
- Fill the Proposal Form: Complete the standard LIC proposal form with personal, medical, and nominee details.
- Medical Examination: Undergo medical tests if required (varies by age and Sum Assured amount).
- Submit Documents: Provide age proof, identity proof, address proof, income proof, and recent photographs.
- Pay First Premium: Pay the first premium via cheque, NEFT, or UPI.
- Receive Policy: After underwriting approval (7-15 days), you'll receive the policy document.
Why Use Our LIC Kanyadan Premium Calculator?
Our free online LIC Kanyadan Policy Calculator is the most comprehensive tool available, offering features not found on other websites:
- Real-Time Calculation: Results update instantly as you type — no button clicking needed.
- Year-by-Year Projection: See premium, bonus, surrender value, and death benefit for every single year of the policy.
- Premium Mode Comparison: Compare all 4 payment modes side-by-side to find the most cost-effective option.
- Maturity Composition Bar: Visual breakdown showing how much of your maturity comes from SA, bonus, and FAB.
- Wealth Gain Ratio: Instantly see how many rupees you get back for every ₹1 invested.
- Latest 2026 Rates: GST-exempt premiums and 2024-25 declared bonus rates for accurate projections.
- Daughter's Age at Maturity: Automatically shows your daughter's age when the policy matures.
Disclaimer:The “LIC Kanyadan Policy” is a marketing name used by LIC agents and is not an official LIC product name. It refers to the LIC Jeevan Lakshya Plan (Table 933, now Plan 733). The premium rates, bonuses, and maturity calculations provided by this tool are estimates based on publicly available LIC rate information and declared bonus rates for 2024-25 valuation. Actual figures may vary based on underwriting rules, medical examination results, and LIC's future declared bonus rates. This calculator is for informational purposes only and does not constitute financial advice. Please consult a qualified LIC agent for exact premium quotations. Plan 933 is closed for new sales since October 1, 2024; new buyers will be offered Plan 733 with similar benefits.