LIC Kanyadan Policy : Planning for your daughter’s future is one of the most important responsibilities as a parent. Whether it’s for her higher education, wedding, or financial independence, a secure financial foundation can give her the wings to fly. One such plan that stands out is the LIC Kanyadan Policy. With an investment as low as ₹75 per day, you can potentially build a corpus of up to ₹14 lakh for your daughter’s future needs.
Let’s break down everything you need to know about this policy—its benefits, how it works, and why it might be the right choice for your family.
What is LIC Kanyadan Policy?
The LIC Kanyadan Policy is a customized life insurance plan offered by Life Insurance Corporation of India (LIC), designed specifically for the financial security of a daughter. Although there’s no separate product officially named “LIC Kanyadan Yojana,” the term is popularly used to refer to a specially designed version of the LIC Jeevan Lakshya Policy, tailored to meet the unique needs of a girl child’s future.
The key highlight of the policy is its dual benefit—insurance protection for the parent and a maturity amount for the daughter, even if something unfortunate happens to the father during the policy term.
Key Highlights:
- Affordable premium starting at ₹75 per day
- Total benefits of up to ₹14,00,000 on maturity
- Death benefit with waiver of premium
- Annual survival benefit in the last 3 years of the policy term
- Tax benefits under Section 80C and 10(10D)
How Does LIC Kanyadan Yojana Work?
The policy works on a simple model: the parent (usually the father) pays a regular premium for a fixed term. If the policyholder dies during the policy term, LIC waives off all future premiums and still continues the policy. The daughter receives annual payouts for three years before maturity and the full sum assured at the end of the term.
Example: Investment and Return Breakdown
Here’s a sample calculation of how an investment of ₹75 per day (₹2,250 per month approx) can generate a maturity value of ₹14 lakh.
| Age of Father | Premium Term | Monthly Premium | Annual Premium | Policy Term | Maturity Amount | Death Benefit |
|---|---|---|---|---|---|---|
| 30 years | 25 years | ₹2,250 | ₹27,000 | 25 years | ₹14,00,000 | ₹5,00,000 + ₹50,000/year (for 3 years) |
| 35 years | 20 years | ₹2,600 | ₹31,200 | 20 years | ₹12,00,000 | ₹5,00,000 + ₹50,000/year (for 3 years) |
| 40 years | 15 years | ₹3,100 | ₹37,200 | 15 years | ₹10,00,000 | ₹5,00,000 + ₹50,000/year (for 3 years) |
Note: Actual returns may vary based on sum assured, age, and premium term.
See more : Invest ₹75 and Get ₹14 Lakh for Your Daughter
Benefits of LIC Kanyadan Policy
The policy not only ensures a solid financial backup but also provides a sense of security for the entire family. Here are the major benefits:
1. Low Premium, High Return
- Start with as low as ₹75 per day
- Accumulate up to ₹14 lakh over the policy period
2. Life Risk Cover for Parent
- If the parent dies during the policy term, LIC pays a lump sum death benefit immediately
- Annual payouts continue for three years
- Future premiums are waived off
3. Tax Advantages
- Premiums are tax-deductible under Section 80C
- Maturity amount is tax-free under Section 10(10D)
4. Financial Independence for Daughter
- Helps fund higher education, marriage, or entrepreneurial ventures
- Ensures your daughter’s dreams are not compromised due to financial limitations
Who Can Apply for LIC Kanyadan Policy?
The policy is primarily meant for fathers of daughters aged below 12 years. However, any parent or guardian can purchase the plan with the intention of securing the daughter’s future.
Eligibility Criteria:
| Feature | Details |
|---|---|
| Entry Age | 18 – 50 years |
| Maturity Age | Up to 65 years |
| Policy Term | 13 – 25 years |
| Premium Paying Term | Policy Term – 3 years |
| Minimum Sum Assured | ₹1,00,000 |
| Maximum Sum Assured | No limit (subject to underwriting) |
LIC Kanyadan Yojana: Benefit Illustration
Let’s take a closer look at a comprehensive benefit example to understand how the policy delivers returns.
| Policyholder Age | Daughter’s Age | Policy Term | Annual Premium | Total Premium Paid | Maturity Benefit | Total Death Benefit |
|---|---|---|---|---|---|---|
| 30 | 1 | 25 years | ₹27,000 | ₹6,75,000 | ₹14,00,000 | ₹6,50,000 (approx) |
| 35 | 2 | 20 years | ₹31,200 | ₹6,24,000 | ₹12,00,000 | ₹6,50,000 (approx) |
| 40 | 3 | 15 years | ₹37,200 | ₹5,58,000 | ₹10,00,000 | ₹6,50,000 (approx) |
Note: Figures are indicative and subject to LIC terms and conditions.
Why LIC Kanyadan Policy is a Smart Choice
There are several reasons why this plan is gaining popularity among Indian families:
- Custom-tailored for daughters’ future needs
- Flexibility in policy term and premium payments
- Backed by the trusted brand of LIC
- Guaranteed returns with insurance cover
- Ideal for long-term goal planning
The emotional value of ensuring your daughter’s future is priceless, and the LIC Kanyadan Policy helps bridge the gap between emotional commitment and financial capability.
How to Buy LIC Kanyadan Policy?
You can purchase this policy through:
- LIC’s official agents
- Visiting the nearest LIC branch
- Online through LIC’s website (for registered users)
- Financial advisors who offer LIC services
Before purchasing, make sure to:
- Discuss the sum assured based on your financial goals
- Understand the terms and conditions
- Choose a premium amount you can consistently pay
Investing in LIC’s Kanyadan Policy is more than just a financial decision—it’s a heartfelt commitment to your daughter’s dreams. With just ₹75 a day, you’re not only securing a significant amount for her future but also offering peace of mind to yourself as a parent. The blend of insurance cover, assured returns, and tax benefits makes it a reliable and thoughtful financial tool.
The LIC Kanyadan Policy is not a standalone plan but a customized approach using LIC’s existing Jeevan Lakshya policy. All benefits and returns mentioned above are illustrative and may vary depending on individual profiles, sum assured, and LIC’s terms and conditions. It is advised to consult with a licensed LIC agent or financial advisor before making a purchase.