If you have a girl child, you might be worried about your daughter’s marriage and education. These two are the major goals of Indian families. LIC offers the best solution with the LIC Kanyadan Policy. It is specially designed for meeting financial needs for your daughter’s education and wedding. The LIC Kanyadan policy calculator helps to estimate returns, premiums, and benefits. It is also known as the LIC kanyadan policy 833 maturity calculator. In this article, we will learn about how the calculator works, its importance, and its uses in making long-term financial commitments.
What Is the LIC Kanyadan Policy?
The LIC Kanyadan Policy is not a standalone product offered by LIC. It is popularly known as the LIC Jeevan Lakshya Policy (Plan 833) for long-term saving and protection for a daughter’s life.
In this policy, parents pay regular premiums. It is a combination of insurance coverage and a long-term savings plan. If the policyholder survives the full policy term, they get the maturity benefits along with bonuses. In the event of the death of the policyholder during the tenure, the nominee gets the death benefits, and the future premiums will be waived off.
Importance of the LIC Kanyadan Policy Calculator
If you are planning to buy the LIC kanyadan policy as a long-term financial goal, you must clearly know the premiums and benefits. This is where the LIC kanyadan policy premium and maturity calculator comes into play. It is an online tool to estimate:
- Total payable premiums depend on your sum assured, policy tenure, and premium payment mode.
- Expected maturity amount along with potential bonuses.
- Death benefits are offered in case of the death of the policyholder during the policy tenure.
You can adjust the parameters, such as policy term, sum assured, and age, to compare outcomes and make informed decisions.
How to Use the LIC Kanyadan Policy Premium and Maturity Calculator?
The LIC kanyadan policy calculator follows the simple interface as mentioned below:
- Go to the LIC official portal and open the calculator.
- Enter all required details such as your age, your daughter’s age, etc.
- Choose the policy tenure between 13 years and 25 years and the premium payment term.
- Now, select the sum assured as per your goals.
- Choose the premium payment frequency, such as monthly, quarterly, or annual.
- Press the “Submit” button to get the estimate, such as maturity, total cost of premiums, and benefits.
Consider a real-life scenario, a 35-year-old man paying a premium for a policy term of 18 years. The sum assured he chose is Rs. 5,00,000. The results on the calculator, as per his details, are:
| Particulars | Details |
| Father’s age | 35 years |
| Daughter’s age | 3 years |
| Policy term | 18 years |
| Premium Payment Term | 15 Years |
| Sum Assured | ₹5,00,000 |
| Total Premium Paid | ₹3,60,000 |
| Expected Maturity Value | ₹6,50,000-₹7,00,000 + Bonus |
| Death Benefits | Sum assured + annual income benefit till maturity + maturity amount |
Benefits of Using the LIC Kanyadan Policy Calculator
By using the LIC kanyadan policy premium and maturity calculator, you can get various benefits as mentioned below:
- Better Financial Planning: You can consider different scenarios and see how your investment will grow. It will help you set realistic goals.
- Comparing Premium Options: It helps you to compare different premium amounts, payment frequencies, and sum assured levels to make smart and informed financial decisions.
- Estimating Returns: The policy offers you non-guaranteed returns. The calculator helps you to estimate the maturity amount depending on the bonus rates.
- Transparent Benefits: The calculator helps you to know details about death benefits, additional bonuses, maturity benefits, and premium waivers.
- No Registration Needed: You can use the LIC Kanyadan policy 833 maturity calculator free of cost. There is no need for any registration or sign-up on the website.
Important Features of LIC Kanyadan Policy
The main features of the LIC kanyadan policy are:
- Limited Premium Payment: You need to pay the premiums for defined premiums, which are a few years less than the policy term.
- Maturity Benefits: If you survive the full term of the policy, you will get the full sum assured along with the bonus.
- Death Benefits: If the policyholder dies during the policy tenure, the nominee gets the death benefits, and the future premiums will be waived off.
- Tax Benefits: The premiums you will pay for the LIC kanyadan policy will be eligible for deduction under section 80C. The maturity amount will be tax-free under section 10 (10D).
| You May Like to Read: LIC Jeevan Shree Plan 112 Maturity Calculator
Conclusion
By understanding the LIC Kandyan policy calculator and its uses, you will be able to make smart financial decisions and choose the best affordable premiums and great maturity benefits for your daughters.
LIC Kanyadan Policy Calculator – FAQs
What is the LIC Kanyadan Policy Calculator?
Ans. The LIC Kanyadan policy calculator is a digital tool useful for determining your total premiums, maturity amount, and death benefits depending on your details, such as age, tenure, etc.
Does the LIC Kanyadan policy 833 maturity calculator provide accurate results?
Ans. The LIC kanyadan policy 833 maturity calculator offers you the estimates depending on current bonuses and policy data. The actual benefits may vary depending on LIC bonuses and policy performance.
Do I need to register to use the LIC kanyadan policy maturity calculator?
Ans. No, there is no need to register to use the LIC Kanyadan policy maturity calculator. You can use it directly from the website.
How many times can I use the LIC Kanyadan policy premium calculator?
Ans. You can use it multiple times. There is no upper limit to using the calculator.
Where will I get the LIC kanyadan policy 833 maturity calculator?
Ans. You can use the LIC kanyadan policy 833 maturity calculator on the LIC’s official website or other trusted personal finance websites.
