Planning for your daughter’s future is a priority for every parent, and the LIC Kanyadan Policy offers a reliable way to achieve that goal. This unique plan blends life insurance with savings, helping you build a financial corpus for your daughter’s education and marriage. Tailored from LIC’s Jeevan Lakshya policy (Plan No. 833), it ensures security and growth, even in uncertain times. In this blog post, we’ll dive into the LIC Kanyadan Policy details, including its premium chart, maturity calculator, benefits, and how investing 1000 or 2000 per month can shape your daughter’s future. Let’s explore why this policy is a smart choice for parents.
What is the LIC Kanyadan Policy?
The LIC Kanyadan Policy is a customized version of LIC’s Jeevan Lakshya policy (Plan No. 833), designed specifically for parents of daughters. It’s not a standalone product but a targeted solution to help you save systematically for key milestones like your daughter’s wedding or higher education. With a mix of insurance protection and investment growth, this policy ensures that your family remains financially secure, even if you’re no longer around. Whether you’re curious about the LIC Kanyadan Policy premium chart or its benefits, this guide will cover it all.
Key Features and Benefits of the LIC Kanyadan Policy
The LIC Kanyadan Policy stands out for its thoughtful design and practical advantages. Here are the top LIC Kanyadan policy benefits:
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Financial Protection: If the policyholder passes away, the family receives a lump sum and annual income benefits until the policy matures, safeguarding your daughter’s future.
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Tax Savings: Premiums qualify for deductions under Section 80C, and the maturity amount is tax-exempt under Section 10(10D) of the Income Tax Act.
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Loan Option: After a few years of premium payments, you can borrow against the policy for urgent needs.
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Rider Benefits: Add optional riders like accidental death or disability coverage for extra security.
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Flexible Payments: Pay premiums monthly, quarterly, half-yearly, or annually—whatever suits your budget.
These features make the LIC Kanyadan Policy a versatile and dependable option for long-term planning.
Understanding the LIC Kanyadan Policy Premium Chart
How much will the LIC Kanyadan Policy cost you? Premiums depend on your age, the sum assured, and the policy term. A standout feature is the limited premium payment term—typically three years shorter than the policy term. For instance, a 20-year policy requires premiums for only 17 years.
Here’s a sample LIC Kanyadan Policy premium chart for a ₹10 lakh sum assured:
|
Age
|
Policy Term
|
Premium Paying Term
|
Annual Premium (Approx.)
|
|---|---|---|---|
|
30
|
25 years
|
22 years
|
₹45,000
|
|
35
|
20 years
|
17 years
|
₹55,000
|
|
40
|
15 years
|
12 years
|
₹70,000
|
Note: These figures are illustrative. Actual premiums may vary based on LIC’s rates and your specific details.
Want a precise quote? Use the LIC Kanyadan Policy premium calculator on LIC’s website or consult an agent. Flexibility in payment frequency—monthly, quarterly, or yearly—adds to its appeal.
How to Use the LIC Kanyadan Policy 833 Maturity Calculator
Wondering how much you’ll get at the end of the policy term? The LIC Kanyadan Policy 833 maturity calculator helps you estimate your returns. Since it’s based on Plan No. 833 (Jeevan Lakshya), the maturity amount includes the sum assured plus bonuses like simple reversionary bonuses and final additional bonuses.
To calculate:
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Enter your age, sum assured, and policy term.
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Specify the premium payment term.
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Review the estimated maturity value.
For example, with a ₹10 lakh sum assured over 25 years, you might receive ₹25-30 lakhs at maturity, depending on bonus rates. These bonuses vary annually, so the LIC Kanyadan Policy 833 maturity calculator provides an indicative figure based on current trends.
Investing in the LIC Kanyadan Policy: Scenarios with 1000 and 2000 per Month
Small, regular investments can grow into a significant fund with the LIC Kanyadan Policy. Let’s look at two practical scenarios:
LIC Kanyadan Policy 1000 per Month
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Investment: ₹1000/month (about ₹33/day)
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Policy Term: 25 years
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Sum Assured: ₹5 lakhs
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Maturity Amount: Approx. ₹12-15 lakhs (including bonuses)
LIC Kanyadan Policy 2000 per Month
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Investment: ₹2000/month
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Policy Term: 25 years
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Sum Assured: ₹5 lakhs
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Maturity Amount: Approx. ₹24-30 lakhs (including bonuses)
These examples show how affordable contributions—like 1000 or 2000 per month—can create a sizable corpus for your daughter’s future, whether for education or marriage.
How to Apply for the LIC Kanyadan Policy
Ready to get started? Here’s what you need to know about eligibility and the application process:
Eligibility Criteria
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Be a parent or legal guardian of a girl child under 18.
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Be aged 18-50 years when applying.
Application Steps
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Visit an LIC branch or contact an agent.
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Fill out the application form.
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Submit documents: age proof, address proof, and income proof.
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Select your sum assured, term, and payment frequency.
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Pay the first premium to activate the policy.
Once approved, you’ll receive your policy document, and your journey to securing your daughter’s future begins.
Conclusion: Why Choose the LIC Kanyadan Policy?
The LIC Kanyadan Policy is more than just an insurance plan—it’s a promise to your daughter’s future. With its blend of savings, protection, and tax benefits, it’s an ideal choice for parents. Whether you invest 1000 or 2000 per month, the policy offers flexibility and growth potential. Curious about the LIC Kanyadan Policy premium chart or the 833 maturity calculator? This guide has laid it all out.
Take the next step today—visit LIC’s website or your nearest branch to explore how the LIC Kanyadan Policy can work for you.
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