The LIC Kanyadan policy calculator helps estimate premiums, maturity values and death benefits for LIC Jeevan Lakshya Plan 733 (formerly Plan 933, withdrawn October 2024). For a 35-year-old father, Sum Assured of Rs. 10 lakh and a 21-year policy term, the approximate annual premium is around Rs. 57,820 (GST-exempt since September 2025), paid over 18 years, with an estimated maturity value of Rs. 20–21 lakh, tax-free under Section 10(10D). If the father dies during the term, premiums are waived, 10% of Sum Assured is paid annually until one year before maturity and the full maturity benefit is still paid at the original date.
Plan 733 is active and available for new purchase; minimum Sum Assured is Rs. 2,00,000.
Every parent who has a daughter and a rough idea of what a wedding costs in India today knows the quiet anxiety that comes with it. Add higher education to that and the number gets bigger fast. The LIC Kanyadan Policy Calculator is one of the most searched tools among Indian fathers precisely because it helps cut through that anxiety with actual numbers. You enter your age, your daughter's age, the sum assured you want and the calculator tells you how much you need to
pay every year, for how many years and what you get at the end of it. That is the entire value proposition.
Before you trust any output from a calculator, though, you need to understand what this plan actually is, what changed in October 2024 and what the real numbers look like with today's bonus rates and the new GST exemption. This article covers all of that, with a worked
example and a direct comparison to help you decide if this is the right vehicle for your daughter's future.
What Is the LIC Kanyadan Policy Calculator and Why Does Everyone Search for It?
The LIC Kanyadan Policy Calculator is an online tool that estimates premiums, maturity values and death benefits for what agents
commonly market as the "Kanyadan policy." The first thing to understand is that "
LIC Kanyadan Policy" is not the official name of any plan on LIC's books. There is no LIC brochure with that
title, no separate plan number and no unique features created exclusively under that label.
What people actually mean when they say Kanyadan policy is the LIC Jeevan Lakshya plan, now running as Plan 733 (the earlier version was Plan 933, withdrawn from new sales on 1 October 2024 per IRDAI's Insurance Products Regulations, 2024). Agents and customers have long used the name "Kanyadan" because it maps the plan's purpose to a specific emotional and financial
milestone in an Indian family's life: ensuring that a father's death does not derail his daughter's future.
The calculator's popularity comes down to one simple reason: manually computing premiums, bonus accumulations and death benefit scenarios across different terms and sum assured
amounts is genuinely tedious. The calculator lets you try half a dozen combinations in five minutes.
How the LIC Jeevan Lakshya (Kanyadan) Plan Actually Works
To use the calculator correctly, you need to understand the mechanics behind the numbers it produces.
- The Basic Structure
LIC Jeevan Lakshya is a participating, non-linked, limited premium payment endowment plan. "Participating" means the policy earns a share of LIC's profits through annual bonus declarations. "Non-linked" means your returns are not tied to market performance. "Limited premium payment" means you pay premiums for a
shorter period than the full policy term, specifically Policy Term minus 3 years.
So if you choose a 21-year policy term, you pay premiums for 18 years. The policy
remains active and continues accruing bonuses for the full 21 years.
- Survival Benefit (If the Father Lives Through the Term)
At maturity, LIC pays 110% of the basic Sum Assured, plus all the Simple Reversionary Bonuses (SRB) accumulated over the full policy term, plus a Final Additional Bonus (FAB) if declared. The FAB is a one-time terminal bonus determined by LIC's actuarial
position at the time of your maturity and is not guaranteed.
- Death Benefit: This Is Where the Plan Earns Its "Kanyadan" Name
If the policyholder (father) dies during the policy term,
three things happen simultaneously:
- All future premiums are waived. The family stops paying immediately. The policy does not lapse.
- An annual income equal to 10% of the Sum Assured is paid every year from the
policy anniversary following the father's death, right up to one year before the original maturity date.
- At the original maturity date, the daughter receives the Sum Assured plus all
accumulated bonuses and FAB, exactly as if the father had survived.
- In addition, on the date of death, LIC pays a lump sum immediately equal to the higher of 7 times the annualised premium, or 110% of the basic
Sum Assured, subject to a minimum of 105% of all premiums paid to date.
This three-layer structure is genuinely distinctive. Most endowment plans pay a death benefit and close. This one keeps paying annual income,
waives premiums and still delivers the full maturity benefit at the original date.
Current Bonus Rates for LIC Jeevan Lakshya Plan 733 (2024–25 Valuation)
The Simple Reversionary Bonus (SRB) for Plan 733 is declared per Rs. 1,000 of Sum Assured per year, and is structured by the maturity age band of the policyholder — not by policy term. LIC's March 2025 valuation also introduced a Sum Assured-based step-up:
policies with SA ≥ Rs. 5 lakh now receive Rs. 1 extra per Rs. 1,000 SA over the base rate.
The 2024–25 declared SRB rates for Plan 733, sourced from LIC's Results of Valuation (31 March 2025), are as follows:
| Policy Term |
Maturity Age less than or equal to 55 years |
Maturity Age 56–70 years |
| 15 years |
Rs. 50 per Rs. 1,000 SA |
Rs. 59 per Rs. 1,000 SA |
| 20 years |
Rs. 49 per Rs. 1,000 SA |
Rs. 54 per Rs. 1,000 SA |
| 25 years |
Rs. 48 per Rs. 1,000 SA |
Rs. 49 per Rs. 1,000 SA |
Note: The rates above apply to policies with SA greater than or equal to Rs. 5,00,000. Policies with SA below Rs. 5,00,000 receive Rs. 1 per Rs. 1,000 SA lower in each cell. The rows correspond to the approximate policy term; consult your LIC agent or the official LIC valuation circular for the exact rate applicable to your specific maturity age. These rates apply
for exits (maturity/death/surrender) during 2026, as per the 2025 valuation results.
The Final Additional Bonus (FAB) for Plan 733 is plan-specific and meaningfully
smaller than the standard endowment ladder used for Plan 714. Based on the 2025 valuation:
| Duration |
SA below Rs. 2 lakh |
SA above Rs. 2 lakh |
| 15 years |
Rs. 10 per Rs. 1,000 SA |
Rs. 15 per Rs. 1,000 SA |
| 20 years |
Rs. 25 per Rs. 1,000 SA |
Rs. 60 per Rs. 1,000 SA |
| 25 years |
Rs. 80 per Rs. 1,000 SA |
Rs. 200 per Rs. 1,000 SA |
The compensating feature for Plan 733's smaller FAB is the 110% maturity multiplier on the Basic Sum Assured and the income-on-death benefit during the term, which together provide meaningful value that a pure endowment plan does not.
Treat any FAB figure in a calculator as an illustrative projection, not a guarantee.
How to Use an LIC Kanyadan Policy Calculator: Step-by-Step
A calculator is only as useful as the inputs you give it. Here is what to enter and what to look for.
Step 1
Enter the father's current age (must be between 18 and 50).
Step 2
Enter the daughter's current age (minimum 1 year). The calculator will automatically display her age at maturity so you can see whether the payout lands when you actually need it.
Step 3
Choose a Sum Assured. For Plan 733, the minimum is Rs. 2,00,000. Go higher if marriage and education costs in your target city demand it. For reference, a mid-tier wedding in a metro city in 2026 is averaging Rs. 15–25 lakh; higher education can add another Rs. 10–20 lakh easily.
Step 4
Select a policy term between 13 and 25 years. The premium payment term auto-sets at Policy Term minus 3 years.
Step 5
Pick your payment mode (yearly, half-yearly, quarterly, or monthly). Yearly mode typically gets a small rebate of around 2%, so the effective annual outgo is marginally lower.
Step 6
Hit calculate. You should see annual premium, total premium outflow, approximate maturity value (SRB + FAB included) and the death benefit scenario.
Step 7
Run at least 2–3 scenarios: a higher Sum Assured with a longer term versus a moderate Sum Assured with a shorter term. The calculator's real value is in that comparison, not in any single number.
A Worked Example
- Father's age: 35 years
- Daughter's current age: 5 years
- Policy term: 21 years (daughter will be 26 at maturity)
- Sum Assured: Rs. 10 lakh
- Payment mode: yearly
- Premium payment term: 18 years (21 minus 3)
Approximate annual premium (GST-exempt): Around Rs. 57,820 for a 35-year-old father, based on current rate tables for Plan 733.
Total premium outflow: Rs. 57,820 × 18 = approximately Rs. 10.40 lakh over 18 years.
Maturity value estimate (if father survives):
- 110% of Sum Assured = Rs. 11,00,000
- SRB at Rs. 49 per Rs. 1,000 SA for 20 years (father's maturity age lesser than or
equal to 55, policy term ~20 years) = Rs. 49 × 1,000 × 21 = Rs. 10,29,000
- FAB at Rs. 60 per Rs. 1,000 SA (SA greater than or equal to Rs. 2 lakh, 20-year duration) =
Rs. 60,000 (illustrative, not guaranteed)
- Total estimated maturity: approximately Rs. 21–22 lakh
Death benefit scenario (if father dies in Year 5):
- Immediate lump sum: Higher of 7 × Rs. 57,820 = Rs. 4,04,740 or 110% of
Rs. 10L = Rs. 11,00,000. LIC pays Rs. 11,00,000 immediately.
- Annual income: 10% of Rs. 10L = Rs. 1,00,000 per year for 15 years = Rs. 15,00,000 total.
- At maturity (year 21): Rs. 10L + accumulated bonuses = approximately Rs. 21–22 lakh.
- All future premiums waived from year 5.
- Total family payout across all three heads: well above Rs. 35 lakh, entirely tax-free.
Comparing the total premium outflow (Rs. 10.40 lakh) against the maturity value (Rs. 21–22 lakh) gives a rough wealth multiplier of approximately 2x over 21 years. That works out to an implied return of approximately 5–6% per annum, consistent with LIC's traditional participating plans. It is not a high return, but it comes with government backing, guaranteed life cover, no market risk and a
structured death benefit that no pure savings product replicates.
Planning ahead for your daughter's future? At SMC Insurance, our advisors can review your existing LIC policies and recommend the right sum assured and term for your specific timeline. No hard sell,
just honest numbers. Connect with us at www.smcinsurance.com.
Repo Rate Transmission and Why Your EMI Can Change
Most floating-rate home loans in India are linked to external benchmarks such as the RBI's Repo Rate through the External Benchmark Lending Rate (EBLR) framework. When the RBI changes the repo rate, lenders periodically
revise their benchmark rates, which can increase or reduce your EMI or loan tenure depending on the loan agreement.
In a falling interest-rate cycle, borrowers with floating-rate loans may benefit from lower interest costs. Conversely, rising rates can increase the total cost of borrowing. Understanding how
quickly your lender transmits repo rate changes is therefore just as important as comparing headline interest rates.
Fixed Rate vs Floating Rate: Which Affects Your EMI More?
| Aspect |
Fixed Rate |
Floating Rate |
| EMI stability |
Stays constant through tenure |
Changes with repo rate movements |
| Starting cost |
Usually higher at the outset |
Usually lower at the outset |
| Best suited for |
Borrowers who want predictability |
Borrowers comfortable with rate cycles |
| Prepayment flexibility |
May involve charges, check terms |
No prepayment or foreclosure charges on floating-rate loans for individual borrowers...
No prepayment or foreclosure charges are permitted on floating-rate loans granted to individual borrowers for personal, non-business purposes. Under the RBI (Pre-payment Charges on Loans) Directions, 2025, effective January 1, 2026, this prohibition applies regardless of the source of prepayment funds or any lock-in period.
Read More
|
If you're choosing between the two, it helps to actually run your EMI calculation twice, once assuming rates fall by a percentage point and once assuming they rise.
That range tells you the real ceiling of what you're committing to, not just the number on the day you sign.
LIC Kanyadan Policy vs Sukanya Samriddhi Yojana: Which One Is Right for You?
This is the comparison parents genuinely want to see before committing to either.
| Feature |
LIC Kanyadan (Jeevan Lakshya 733) |
Sukanya Samriddhi Yojana (SSY) |
| Annual Income on Father's Death |
Yes, 10% of SA every year |
No |
| Premium Waiver on Death |
Yes |
Not applicable |
| Life Cover |
Full life cover throughout term |
None (pure savings) |
| Approximate Return (p.a.) |
~5–6% |
~8.2% (current, government-set) |
| Tax on Maturity |
Tax-free under Sec 10(10D) |
Tax-free |
| Deduction on Premium |
Sec 80C (up to Rs. 1.5 lakh) |
Sec 80C (up to Rs. 1.5 lakh) |
| GST on Premium |
0% (since Sep 2025) |
Not applicable |
| Minimum Annual Investment |
Rs. 250 |
Rs. 250 |
| Maximum Annual Investment |
No upper limit |
Rs. 1.5 lakh |
| Account/Policy for |
Parents (any gender) |
Biological/legal guardian of girl child |
| Withdrawal Flexibility |
Partial via loan after 1 year |
Partial withdrawal at 18 for education |
| Best Use Case |
Protection + savings combined |
Pure long-term savings at higher rate |
Note: SSY interest rates are reviewed quarterly by the government and can change. The 8.2% figure is the rate for the April–June 2026 quarter.
The LIC Kanyadan maturity estimate assumes current bonus rates, which are also subject to annual revision.
Our SMC advisors often recommend running both in parallel if budget permits, with SSY handling the pure savings compounding and the Jeevan Lakshya handling the life cover and death benefit structure. The combination is better than either plan alone,
particularly for families where the father is the sole earner.
Tax Benefits: What Section 80C and 10(10D) Actually Mean for This Policy
This is one area where people often get the numbers wrong, so let us be direct.
- Section 80C deduction
Premiums paid towards this policy qualify for deduction up to Rs. 1,50,000 per financial year. If your annual premium is Rs. 57,820, the entire amount is deductible under 80C, assuming you have not already exhausted this
limit through PPF, ELSS, home loan principal, or other eligible instruments.
- Section 10(10D) exemption
The maturity amount, including all bonuses, is tax-free at the time of payout, provided the annual premium does not exceed 10% of the Sum Assured. For a Rs. 10 lakh SA policy, this means your annual premium must stay below Rs. 1,00,000,
which it does in most standard scenarios for this plan.
The death benefit is also tax-free under 10(10D) without the 10% premium-to-SA condition, which is a clean and important benefit for the family.
Riders That Can Be Added to LIC Jeevan Lakshya (Plan 733)
The base plan is strong on death benefit, but riders let you extend protection further.
LIC's Accidental Death and Disability Benefit Rider
Can be added any time during the premium paying term, provided at least 5 years of PPT remain. If the father dies due to an accident, an additional sum equal to the rider sum assured is paid.
LIC's Accident Benefit Rider
Similar to above; provides extra cover specifically for accidental death during the premium paying term.
LIC's New Term Assurance Rider
Must be added at policy inception only. Increases pure life cover beyond the base Sum Assured.
LIC's New Critical Illness Benefit Rider
Also at inception only. Pays a lump sum if the policyholder is diagnosed with one of the covered critical illnesses.
Riders come at an additional premium, but they can significantly increase the death benefit without buying a separate term policy. For fathers who cannot afford both a standalone term plan and this policy simultaneously, the accident benefit rider is worth the incremental cost.
Note that under Plan 733, the total rider premiums across all riders must not exceed 30% of the base premium.
Surrender Value and Loan Facility
Circumstances change and LIC accounts for that with a surrender and loan facility.
- Surrender: For Plan 733, you can surrender the policy after paying just 1 full year's premium (Plan 933 required 2 full years). The payout is the higher of the Guaranteed Surrender Value (GSV) or the Special Surrender Value (SSV). Note that the GSV itself only arises after two full years' premiums have been paid; in the first year only, a surrender will return a partial amount without the GSV entitlement. Surrendering
early means significant loss of accumulated value, so treat this as an emergency option, not a routine one.
- Loan: After paying 1 full year's premium, you can borrow against the policy. Before two full years' premiums: up to 50% of the surrender value for an in-force policy. After two full years' premiums: up to 75% of the surrender value for an in-force policy (40–65% for a paid-up policy). The current policy loan interest rate is 9.50% per annum, compounded half-yearly, per the LIC Jeevan Lakshya sales brochure (effective April 2025).
Any outstanding loan is deducted from the death or maturity benefit, so keep track of what you borrow.
For more on how to manage your existing LIC policy online, including checking surrender value and loan eligibility, refer to our guide on
LIC policy details by policy number.
How to Buy LIC Jeevan Lakshya (Plan 733) in 2026?
Plan 933 is no longer available for new sales, but Plan 733 is active and can be purchased through the following route:
Step 1
Use an online LIC Kanyadan policy calculator to finalise your preferred Sum Assured, term and premium amount.
Step 2
Visit your nearest LIC branch or contact a licensed LIC agent. You can also use the agent locator at licindia.in.
Step 3
Fill out the standard LIC proposal form with personal details, nominee (typically the daughter) details and medical history.
Step 4
Undergo medical examination if required. The requirement varies based on your age and Sum Assured level.
Step 5
Submit age proof, address proof, identity proof, income proof (for high sum assured cases) and recent photographs.
Step 6
Pay the first premium via NEFT, UPI, cheque, or at a branch counter.
Step 7
After underwriting approval, typically 7–15 working days, the policy document is issued and dispatched.
LIC's minimum Sum Assured for Plan 733 is now Rs. 2,00,000. Choose a Sum Assured you can sustain over the full premium paying term. Buying a Rs. 50 lakh policy with an annual premium of Rs. 3 lakh makes little sense if your income does not support it with a reasonable cushion.
Our advisors at SMC Insurance help you arrive at the right number based on your current income, existing coverage and your daughter's age. For parents already covered by a group term plan through their employer, the approach to this policy is different compared to those with no life cover at all.
Wrapping Up
The LIC Kanyadan policy calculator is a useful starting point, but it is only a starting point. The real planning work happens when you match the maturity date to your daughter's actual needs timeline, assess whether the premium is genuinely sustainable over 15–22 years and
check whether the life cover from this plan is sufficient or needs supplementing with a term policy.
Plan 733 (LIC's New Jeevan Lakshya) is a solid, conservative instrument with a death benefit structure that is meaningfully better than most savings plans. The GST exemption since September 2025 has made premiums more efficient. If you are a father in your 30s or 40s with a young daughter and a preference for guaranteed, government-backed instruments over market-linked ones, this plan deserves a serious look. Run the numbers, compare at least two scenarios and then
talk to an advisor before you sign.
Frequently Asked Questions
Is LIC Kanyadan Policy still available in 2026?
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The original Plan 933 (Jeevan Lakshya) was withdrawn from new sales on 1 October 2024. New buyers are offered Plan 733 (LIC's New Jeevan Lakshya), which has the same basic structure with minor differences such as a higher minimum Sum Assured of Rs. 2,00,000 and eligibility for surrender and loan after just 1 full year instead of 2. If you purchased Plan 933 before October 2024, your policy continues fully intact under its original terms.
What does the LIC Kanyadan policy calculator show and how accurate is it?
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A reliable calculator shows the annual premium (now GST-exempt since September 2025), total premium outflow over the payment term, estimated maturity value based on current declared bonus rates and the death benefit scenario including annual income and maturity payout for the family. The estimates are reasonably accurate for planning purposes but are not guaranteed figures. Actual maturity value depends on LIC's future bonus declarations, which can go up or down. Ensure the calculator you use is updated to Plan 733 rates from the March 2025 valuation — many older tools still feed in Plan 933 bonus figures.
What happens to the LIC Kanyadan policy if the father dies early in the term?
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Three things happen immediately on the father's death. First, all future premiums are waived; the family does not pay another rupee. Second, 10% of the Sum Assured is paid as annual income every year from the anniversary following death until one year before the original maturity date. Third, at the original maturity date, the full Sum Assured plus all accumulated bonuses and FAB is paid to the nominee. An immediate lump sum is also paid on the date of death, equal to the higher of 7 times the annualised premium or 110% of the Sum Assured, subject to a minimum of 105% of all premiums paid.
How is the maturity amount calculated in the LIC Kanyadan policy calculator?
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The maturity amount is 110% of the basic Sum Assured, plus Simple Reversionary Bonus accumulated at the declared rate for each year of the policy term, plus the Final Additional Bonus if declared at maturity. For a Rs. 10 lakh policy with a 21-year term (father aged 35, maturity age lesser than or equal to 55), the applicable SRB from the 2025 valuation is Rs. 49 per Rs. 1,000 SA for the 20-year term band, giving accumulated SRB of approximately Rs. 10.29 lakh, plus FAB of approximately Rs. 60,000 (illustrative), for a total maturity estimate of approximately Rs. 21–22 lakh, tax-free under Section 10(10D).
Is the LIC Kanyadan policy a good investment compared to Sukanya Samriddhi Yojana?
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SSY currently offers around 8.2% per annum (April–June 2026 rate) with full tax exemption and no life cover. LIC Jeevan Lakshya offers approximately 5–6% implied annual return but comes with comprehensive life cover, a premium waiver and annual income to the family if the father dies. These are different instruments solving different problems. SSY is better for pure savings compounding; Jeevan Lakshya is better when life cover is also required. Many financial advisors suggest holding both, with SSY handling savings and Jeevan Lakshya handling protection.
Can I take a loan against the LIC Kanyadan policy?
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Yes, under Plan 733, a loan is available after paying just 1 full year's premium, which is an improvement over Plan 933 which required 2 full years. You can borrow up to 50% of the surrender value before two full years' premiums are paid, and up to 75% after two full years. The current policy loan interest rate is 9.50% per annum, compounded half-yearly. Any unpaid loan balance, along with accrued interest, is deducted from the death or maturity benefit when the claim is settled.
Which riders should I consider adding to the LIC Kanyadan policy?
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The most commonly recommended add-on is the Accidental Death and Disability Benefit Rider, which increases the payout if the father dies due to an accident at a relatively low additional premium. If you do not have a standalone critical illness plan, the New Critical Illness Benefit Rider, available only at inception, is worth considering. The New Term Assurance Rider boosts pure life cover if the base Sum Assured is not enough to replace your income adequately. Note that the combined premium for all riders must not exceed 30% of the base policy premium under Plan 733.
What documents are needed to buy the LIC Kanyadan policy?
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You will need age proof for the policyholder (birth certificate, passport,
Aadhaar, or PAN), identity proof, address proof, recent passport-size photographs and income proof if
the Sum Assured is above LIC's threshold for mandatory financial underwriting. Medical examination
requirements depend on the proposer's age and Sum Assured amount; an LIC agent or the branch
underwriting team will advise on this during the application process.
Disclaimer: The information provided on this page is intended for general awareness and educational purposes. While every effort is made to ensure accuracy, some details may change with policy updates, regulatory revisions,
or insurer-specific modifications. Readers should verify current terms directly with relevant insurers or through professional consultation before making any decision. All analyses are based on publicly available data and do not constitute
professional advice. Customers are advised to review official sales brochures and policy documents before proceeding with any purchase.
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