Planning the future for your daughter is a critical task for the parents, especially regarding financial security. LIC has a plan for parents looking to financially secure their daughter’s life. The LIC Kanyadan policy is specially designed for this purpose, where parents can deposit funds for their daughter’s wedding and education. The policy also offers financial support to the daughter in case of the father’s death. LIC kanyadan is not an officially separate plan, but a version of LIC Jeevan Lakshya Policy (833).
One of the essential tools that helps in planning the investment is the “LIC Kanyadan Policy 833 Maturity Calculator”. It can be used online for estimating the maturity amount, premium payment, and benefits of the plan. The calculator allows the parents to make smart decisions for their daughter’s future security. Let’s learn more about the lic kanyadan policy calculator
What is the LIC Kanyadan Policy?
LIC Kanyadan Policy is a customised policy from the LIC Jeevan Lakshaya plan, where parents can plan the investment for their daughters. It offers insurance plus investment facilities to help parents build a substantial corpus and safeguard their daughter’s future financially. If the father buys a LIC kanyadan policy in his name and in the future he dies, the Daughter will get the policy amount.
LIC Kanyadan Policy Key Features
The main features of the LIC Kanyadan policy are:
- Financial Security: If the policyholder dies in any unfortunate event, the family will get the lump sum amount of the policy.
- Premium Waiver: If the policyholder dies, the family need not pay the remaining premiums, without affecting the benefits.
- Maturity Benefits: The Policyholder gets the lump sum amount at the end of the policy term.
- Annual benefits: An annual amount is given to the nominee in case of the death of the policyholder.
- Flexible Payment: Policyholders get the option to choose the premium payment term from 6-10 years.
- Tax Benefits: The premiums paid under the Kanyadaan policy are eligible for tax benefits under section 80C of the Income Tax Act.
What is the LIC Kanyadan Policy 833 Maturity Calculator?
LIC Kanyadan Policy 833 Maturity calculator is a tool designed to help investors know their maturity amount, premium payments, and death benefits. It can be used online with some simple clicks. You need to enter a few details, such as your age, policy term, sum assured and premium payment frequency on the calculator and click “submit”, you will instantly get the results on the screen.
The lic kanyadan policy premium calculator helps the parents to make informed decisions about their daughter’s future. You can use the calculator multiple times with different entries and then make the decision.
How does the LIC Kanyadan Policy 833 Maturity Calculator work?
The LIC Kanyadan policy calculator is very simple to use. It helps the policyholder to determine their total payable premium, Total maturity amount, Bonus, and Death Benefits. Here are the steps to use the calculator:
- Open the LIC kanyadan calculator on your browser.
- Enter the details such as the father’s age, the daughter’s age, and the desired sum assured.
- Choose the policy term, premium payment tenure, and payment mode (monthly/Yearly)
- Press the “Submit” option and you will get the approximate. Details of premium, maturity, and death benefits.
Example of results on the LIC kanyadan policy calculator:
| Particulars | Details |
| Father’s age | 35 years |
| Daughter’s age | 3 years |
| Policy term | 18 years |
| Premium Payment Term | 15 Years |
| Sum Assured | Rs. 5,00,000 |
| Premium (yearly) | Rs. 24,000 (approx) |
| Total Premium Paid | Rs. 3,60,000 |
| Maturity Value | Rs. 6,50,000 – Rs. 7,00,000 + Bonus |
| Death Benefits | Rs. 5,00,000 + Rs. 50,000 per year till maturity + Maturity Amount |
| You May Like to Read: LIC New Bima Gold Plan 179 Maturity Calculator
Advantages of LIC Kanyadan Policy
LIC Kanyadan Policy offers various advantages, such as:
- Maturity Benefits: If the insured person (Father) survives the policy term, the nominee (daughter) will get the sum assured on maturity with an accumulated bonus.
- Death Benefits: In case the father dies during the policy term, the daughter will get the immediate death claim, Annual income benefits, Premium Waive off and maturity amount.
- Bonuses: The plan offers participation in LIC profit, and the policyholder earns simple reversionary bonuses and final additional bonuses.
- Tax Benefits: The premiums paid by the policyholder are all eligible for tax deduction under section 80C. Also, the maturity amount received is tax-free under section 10(10D).
Conclusion
LIC Kanyadan Policy calculator is a very useful online tool that can be used by the policyholder to estimate the maturity amount, death benefits and other details. You need to enter a few details such as age of the policyholder, daughter’s age, sum assured, etc. to get the accurate results. The calculator is easy to use and available online 24/7.
FAQs
What is the LIC kanyadan calculator?
Ans. LIC Kanyadan Policy Maturity Calculator is an online tool used for estimating the maturity amount, premium and death benefits associated with the policy, depending on age, policy term and sum assured.
Is the result provided by the calculator accurate?
Ans. The result provided by the LIC Kanyadan policy 833 maturity calculator is estimated as per the current LIC bonus rates and plans. The actual amount can vary depending on the LIC bonuses declared and various other factors.
Is registration required for using the calculator?
Ans. No, there is no requirement for registration; you can use the calculator directly.
How many times can I use the calculator?
Ans. You can use the calculator any number of times with different parameters.
Where is the LIC Kanyadan policy calculator available?
Ans. You can use the LIC Kanyadan policy 833 maturity calculator online on the LIC official website.
