When it comes to safe investments with strong returns, few names in India are as trusted as the Life Insurance Corporation of India (LIC). Among its many thoughtful schemes, the LIC Kanyadan Policy stands out as a dedicated plan designed to support every father’s dream: securing his daughter’s future—whether it’s her education or marriage.
Let’s explore how this unique LIC scheme can turn your small daily savings into a large financial cushion of up to ₹27 lakh, without putting any pressure on your shoulders.
What is LIC Kanyadan Policy?
The LIC Kanyadan Policy, also referred to as “Jeevan Lakshya”, is a specially designed savings-cum-protection plan. It allows parents, especially fathers, to start small and build a significant fund over time. The plan focuses on helping families create a dedicated corpus for their daughters, covering both education expenses and marriage costs.
By saving just ₹121 per day, you can build a fund of around ₹27 lakh by the end of the maturity period. That’s less than what many of us spend daily on tea or snacks—but the returns can secure your child’s future.
Why Choose LIC Kanyadan Policy Over Other Schemes?
While many parents rely on the Sukanya Samriddhi Yojana—which currently offers more than 8% returns the LIC Kanyadan Policy offers something equally powerful with life coverage benefits.
Here’s what makes it special:
- Daily savings of just ₹121
- Maturity period ranges from 13 to 25 years
- One-time payout of ₹27 lakh at maturity
- Tax benefits under Section 80C of the Income Tax Act, 1961
- Automatic premium waiver in case of the father’s unfortunate demise
- Immediate financial aid of ₹10 lakh in case of accidental death during policy term
How Does the Policy Work?
If you begin investing ₹121 daily (that’s ₹3,600 per month), and continue for a 22-year premium-paying term, you can secure a total amount of up to ₹27 lakh when the policy matures.
Parents can start this investment for a daughter who is at least 1 year old. The maturity period can be selected between 13 to 25 years, based on your planning needs—be it for higher studies or marriage.
And yes, if you wish to invest more or less, the policy is flexible. Your total maturity amount will adjust according to your chosen investment.
Who Can Apply for LIC Kanyadan Policy?
To apply, the minimum age of the daughter must be 1 year. The father (policyholder) should be between 18 and 50 years old. The policy is open to Indian citizens only.
Documents Required to Apply:
- Aadhaar Card or any valid ID proof
- Birth certificate of the daughter
- Income certificate of the parent
- Residential proof
- Passport-size photographs
