PolicyBros.in
Endowment PlansPlan 714NRI Eligible

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) is a endowment plans plan from Life Insurance Corporation of India. In simple terms: classic savings plan with life cover and guaranteed bonuses.

Key Highlights

Classic endowment with proven bonus track record
Flexible policy terms from 12-35 years
Loan available after 3 years
Suitable for long-term wealth creation

Benefits Explained Simply

If Something Happens to You (Death Benefit)

Sum Assured + accumulated bonuses paid to nominee

When the Plan Matures (Maturity Benefit)

Sum Assured + accumulated bonuses

Eligibility & Details

Minimum Entry Age8 years (last birthday)
Maximum Entry Age55 years
Minimum Sum Assured₹1,00,000
Policy Term12, 14, 16, 18, 20, 22, 24, 25, 30, 35 years
Premium Paying Term12, 14, 16, 18, 20, 22, 24, 25, 30, 35 years
Bonus Typesimple reversionary
Risk Levellow
NRI EligibleYes

Tax Benefits

  • Section 80C deduction on premiums
  • Maturity tax-free under 10(10D)

Premium Rates (Indicative)

Age15 years25 years35 years
20 yrs₹14,543₹8,369₹5,949
30 yrs₹14,592₹8,497₹6,213
40 yrs₹14,847₹8,987₹6,958

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

Example: What You Could Get

If a 30-year-old buys this plan with ₹10 lakh sum assured, 25-year term:

Annual Premium

₹42,485

Total Paid (25 yrs)

₹10,62,125

Est. Bonuses

₹11,50,000

Est. Maturity

₹21,50,000

That's approximately 2.0x of what you paid in premiums.

Bonus Rate History

Simple Reversionary Bonus (₹ per ₹1,000 of Sum Assured per year)

2025

₹46

2024

₹44

2023

₹42

2022

₹40

2021

₹40

2020

₹38

2019

₹38

2018

₹36

2017

₹36

2016

₹34

Classic LIC endowment with consistent bonus declaration for decades.

Who is This Plan Best For?

savingsprotectionlong-term

Frequently Asked Questions

What is LIC New Endowment Plan (Plan 714)?

LIC New Endowment Plan is a endowment plans plan from Life Insurance Corporation of India. Classic savings plan with life cover and guaranteed bonuses.

What is the eligibility age for LIC New Endowment Plan?

Entry age is between 8 and 55 years. Policy term: 12 to 35 years. Premium paying term: 12 to 35 years.

What is the minimum sum assured for LIC New Endowment Plan?

Minimum sum assured is ₹1,00,000. There is no upper limit on sum assured.

What are the tax benefits of LIC New Endowment Plan?

Section 80C deduction on premiums. Maturity tax-free under 10(10D).

Is LIC New Endowment Plan available for NRIs?

Yes. LIC New Endowment Plan is available to Non-Resident Indians. NRIs can buy this plan during a visit to India or through power of attorney.

What happens if I stop paying premiums on LIC New Endowment Plan?

If you stop paying premiums before 3 years, the policy lapses and you lose all benefits. After 3 years of premium payments, the policy acquires a paid-up value and you receive a reduced sum assured. You can also revive a lapsed policy within 5 years by paying outstanding premiums plus interest.

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.

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