LIC Kanyadan Plan : The dream of every parent is to provide their daughter with the best future — whether it’s for her higher education or a grand wedding. With the rising costs of both, financial planning becomes essential. LIC’s Kanyadan Policy offers a unique solution to help parents build a substantial corpus with disciplined savings. Here’s how saving just ₹75 a day can grow into ₹14 lakh over time, and why this plan is gaining popularity among Indian families.
What is LIC Kanyadan Policy?
The LIC Kanyadan Policy is not a separate plan but a customized version of LIC’s Jeevan Lakshya policy tailored to meet the specific needs of a daughter’s future. It provides a blend of savings and protection, ensuring that the daughter’s financial needs are met, even in the unfortunate event of the father’s demise during the policy term.
Key Features of LIC Kanyadan Policy:
- Specially designed for the financial future of a daughter.
- Offers life insurance coverage and savings under one plan.
- Monthly or annual premium options available.
- Premium waiver in case of the father’s untimely death.
- Lump-sum amount at maturity for daughter’s education or marriage.
How ₹75 a Day Grows into ₹14 Lakh – The Investment Breakdown
By saving just ₹75 per day, you can accumulate a corpus of approximately ₹14 lakh by the time your daughter turns 25. Here’s a detailed table illustrating how this saving plan works:
₹75 Per Day Kanyadan Policy Projection (Assumption: 20-Year Policy Term, 8% Expected Return)
| Year | Annual Premium | Total Investment (Till Year) | Yearly Bonus | Total Bonus (Cumulative) | Maturity Benefit |
|---|---|---|---|---|---|
| 1 | ₹27,375 | ₹27,375 | ₹2,500 | ₹2,500 | – |
| 5 | ₹27,375 | ₹1,36,875 | ₹12,500 | ₹21,875 | – |
| 10 | ₹27,375 | ₹2,73,750 | ₹25,000 | ₹56,250 | – |
| 15 | ₹27,375 | ₹4,10,625 | ₹37,500 | ₹1,12,500 | – |
| 20 | ₹27,375 | ₹5,47,500 | ₹50,000 | ₹2,25,000 | ₹14,00,000 |
Note: Actual maturity benefits may vary depending on final bonus rates declared by LIC at maturity.
Benefits of LIC Kanyadan Policy
This plan offers a host of benefits, making it one of the best financial options for parents of daughters:
Dual Benefit: Protection + Savings
- Life coverage throughout the policy term.
- Guaranteed lump sum for your daughter if the policy continues till maturity.
Premium Waiver Benefit
- If the father passes away during the policy term, LIC waives off all future premiums while the policy continues till maturity.
Flexible Premium Payment Terms
- Premiums can be paid monthly, quarterly, half-yearly, or yearly, based on your financial comfort.
Maturity Benefit
- At the end of the policy term, a lump sum is provided that can be used for your daughter’s higher studies, marriage, or business startup.
Why LIC Kanyadan Policy is Ideal for Indian Parents
This plan is particularly designed to align with the needs of middle-class Indian households who want to secure their daughter’s future without bearing a huge financial burden.
Emotional & Financial Security
- Ensures that your daughter’s dreams are fulfilled even in your absence.
- Encourages disciplined savings from a young age.
Tax Benefits
- Premiums paid under this plan are eligible for tax deductions under Section 80C.
- Maturity and death benefits are tax-free under Section 10(10D) of the Income Tax Act.
Affordable Entry Point
- Starting premium can be as low as ₹75 per day, which makes it accessible to most Indian families.
Comparison Table: LIC Kanyadan vs Other Investment Options
| Feature / Plan | LIC Kanyadan Policy | Fixed Deposit | PPF | Mutual Funds |
|---|---|---|---|---|
| Life Cover | Yes | No | No | No (unless ULIP) |
| Tax Benefits | 80C & 10(10D) | 80C (limited) | 80C + Tax-free | Only 80C (ELSS) |
| Risk Level | Low | Low | Low | Medium to High |
| Return Consistency | Moderate & Assured | Low | Moderate | Market-Linked |
| Waiver of Premium | Yes (on father’s death) | No | No | No |
| Ideal for | Daughter’s Future | Short-term savings | Retirement Planning | Wealth Creation |
Who Should Invest in This Plan?
This plan is perfect for:
- Fathers of daughters aged 0-12 years.
- Salaried or self-employed individuals looking for long-term savings.
- Families aiming for a low-risk, tax-efficient plan with life protection.
- Those who want guaranteed financial support for their daughter’s higher education or marriage.
A Small Step Today for Her Big Tomorrow
The LIC Kanyadan Policy is a thoughtfully designed plan that combines insurance protection with long-term savings to give your daughter a financially secure future. With just ₹75 a day, you can accumulate a sizeable corpus of ₹14 lakh that can help fulfill her dreams and secure her future, no matter what life throws your way.
Start early. Stay consistent. And let the power of compounding work for your daughter’s future.
The returns and maturity amount shown are indicative and depend on the policy term, age, and declared bonus by LIC. Please consult a LIC advisor before purchasing to get a personalized plan as per your requirements.
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