LIC New Endowment


LIC’s New Endowment Plan 814 is a non unit linked plan that provides a good combination of security and saving options. This mixture provides financial assistance for the family members of the deceased insurance policy holder any time prior to maturity and great lump sum total at the time of maturity for the surviving policy holders.

Participation in Profits:

The policy shall participate in profits of LICI and shall be eligible to receive simple reversionary bonuses declared as per the experience of the Company, provided the insurance policy is in 100 % force.

Plan Features

  • Ideal for Regular Savings & Life Cover
  • Moderate Premiums
  • Life insurance cover to the extent of sum assured in addition Bonus as well as Final Additional Bonus (as applicable)
  • At the end of the policy or premium paying term, Sum Assured plus Bonus as well as Final Additional Bonus (as applicable) will be paid to the policyholder.
  • Can be very easily aligned correctly with your family goals with its wide option of term.
  • Double Accident Benefit (DAB) – LIC’s Accidental Death and Disability Benefit Rider is optionally available rider by payment of extra premium while in the policy term.
  • Income tax benefit : Premium paid are Tax Exempted u/s 80 C & the Maturity amount is also Tax Free u/s 10 (10) (D)

Eligibility Conditions

Particulars Min Max
Age   8 55
Policy Term 12 Yrs 35 Yrs
Sum Assured Rs. 1 Lakh No Limit
Premium Mode Yly, Hly, Qly,
Mly, SSS
Endowment assurance policy table 814

Benefit illustration

Illustration specially prepared for Mrs. Chandra  (age 24 years)
Benefits Illustration LIC Endowment Plan 
Sum Assured Rs. 9,80,000
Term 25 years
Premium Mrs Chandra’s Monthly premium under this policy is Rs. 3,237. In 25 years she will pay a total of Rs.9,54,972.
Maturity Benefits:
Policy Year Guaranteed  Bonus Total
25 9,80,000  16,17,000 25,97,000
Life cover In this policy Mrs Chandra’s life cover will start at Rs. 10,27,040. By virtue of bonus getting added every year, her risk cover will grow to Rs. 25,97,000 when her age will be 49.
Liquidity She has an option to surrender the policy & receive the cash value after payment of premiums for 3 years. Alternately, she can even avail of loan on this policy once the policy has acquired cash value.
Tax Saving Mrs. Chandra can save a tax of Rs. 11,584 under Sec.80 CCE, against every premium paid


Endowment insurance policy by LIC

Important Note:

  • Income Tax: Sec. 80C Limit Available: 1,50,000. Tax Savings on premiums will be @ 30.90 % u/s 80C
    Projections: Bonus: Last declared reversionary bonus has been considered for the purpose of projected Riskcover and Returns. Terminal Bonus: Last declared terminal bonus of their respective Age and Returns shown are at the end of the specific year.
  • The above mentioned illustration is depending on specific presumptions which are likely to change based on Government/Corporation’s policies.
  • The figures shown are in Indian Rupees.


  1. I would like to know whether there is any pension available under this scheme.
    I don’t see it mentioned anywhere…please clarify

  2. Hi ,. Can u plz give me an illustration about my LIC policy. Policy details are as below.
    Policy Name : LIC’s New Endowment Plan with profit 814
    Policy Term : 16
    Sum Assured : 1075000
    Age at the time of Buying insurance : 28

    Please give me the details Like :
    1. what would be the maturity amount.
    2. What would be the Surrender value after 3 years.
    3. What if i discontinue the Policy any time after 3 years and before 16 years , how much returns i would get.

    I am asking this because i am confused , whether the amount shown in the New Endowment Plan Table , is the guaranteed maturity amount or not.


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