LIC New Endowment Plan
Classic savings plan with life cover and guaranteed bonuses
What is LIC New Endowment Plan?
LIC New Endowment Plan (Plan 714, UIN 512N277V03) is an endowment (savings plus protection) plan from Life Insurance Corporation of India. It is a participating (with-profits) plan: the policy earns Simple Reversionary Bonuses that LIC declares from its surplus each year, and may add a Final Additional Bonus when the policy ends.
Premiums are paid through the policy term, in yearly, half-yearly, quarterly or monthly mode. If the policyholder dies during the term, the nominee receives: Sum Assured + accumulated bonuses paid to nominee. On surviving the full term, the policyholder gets: Sum Assured + accumulated bonuses.
It suits people looking for savings, protection and long-term. NRIs can buy this plan too.
Key Highlights
Benefits Explained Simply
Eligibility & Details
Tax Benefits
- Section 80C deduction on premiums
- Maturity tax-free under 10(10D)
Premium Rates (Indicative)
VERIFIED from official LIC Sales Brochure (effective 22/09/2025). Annual premiums in ₹ for BSA of ₹2 lakh, standard lives. Min entry age: 8 yrs. Max entry age: 50 yrs. Policy term: 12-35 years. Exclusive of taxes.
Source: LIC Official Sales Brochure | Data last verified: 21 March 2026
Bonus Rate History
Who is This Plan Best For?
Frequently Asked Questions
The information above is for educational purposes only. Actual premiums, benefits, and terms are as per LIC of India. For official and complete details, visit licindia.in.